Can I retire at age 61 with 508,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $508,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$41,950$41,576$41,212$40,856$40,509$40,186
2 years$20,767$20,381$20,006$19,642$19,290$18,965
3 years$13,707$13,319$12,945$12,585$12,238$11,921
4 years$10,178$9,791$9,421$9,067$8,728$8,421
5 years$8,061$7,676$7,311$6,964$6,635$6,338
6 years$6,650$6,268$5,908$5,569$5,250$4,964
7 years$5,643$5,264$4,910$4,579$4,270$3,995
8 years$4,888$4,512$4,164$3,841$3,542$3,279
9 years$4,301$3,929$3,586$3,272$2,983$2,731
10 years$3,831$3,463$3,127$2,820$2,542$2,301
11 years$3,447$3,083$2,753$2,454$2,186$1,956
12 years$3,128$2,767$2,443$2,153$1,894$1,675
13 years$2,858$2,501$2,183$1,901$1,652$1,443
14 years$2,626$2,273$1,961$1,687$1,448$1,250
15 years$2,426$2,076$1,771$1,505$1,275$1,087
16 years$2,251$1,905$1,605$1,347$1,127$948
17 years$2,096$1,754$1,461$1,211$999$830
18 years$1,959$1,621$1,333$1,091$888$728
19 years$1,837$1,503$1,221$986$792$640
20 years$1,727$1,396$1,120$893$707$564
21 years$1,627$1,301$1,030$810$633$498
22 years$1,537$1,214$950$737$567$440
23 years$1,454$1,135$877$671$509$390
24 years$1,379$1,064$811$612$458$345
25 years$1,310$998$751$559$412$306
26 years$1,246$938$697$511$371$272
27 years$1,187$883$647$468$335$241
28 years$1,132$832$601$429$302$215
29 years$1,081$785$560$393$273$191
30 years$1,034$741$521$361$246$170
31 years$990$701$486$331$223$151
32 years$949$663$453$304$201$135
33 years$910$628$423$280$182$120
34 years$873$595$396$258$165$107
35 years$839$564$370$237$149$95
36 years$807$536$346$218$135$85
37 years$776$509$324$201$123$76
38 years$748$484$303$185$111$68
39 years$720$460$284$171$101$60
40 years$695$438$266$158$92$54
41 years$670$416$250$146$83$48
42 years$647$397$234$134$75$43
43 years$625$378$220$124$68$38
44 years$604$360$206$114$62$34
45 years$584$344$194$106$56$31
46 years$564$328$182$98$51$27
47 years$546$313$171$90$46$24
48 years$529$299$161$83$42$22
49 years$512$285$151$77$38$19
50 years$496$272$142$71$35$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $508,000, adding $3,691 every year, while hoping to spend $35,261 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 47/38/15 Blend
60$508,000$508,000$508,000$508,000
61$563,623$536,699$528,825$587,571
62$583,595$525,480$509,023$593,331
63$604,423$512,529$487,377$595,685
64$626,156$497,725$463,785$597,470
65$648,848$480,938$438,147$598,647
66$672,558$462,031$410,352$599,175
67$697,348$440,860$380,288$599,010
68$723,287$417,272$347,837$598,110
69$750,448$391,104$312,875$596,429
70$778,911$362,185$275,274$593,920
71$808,763$330,335$234,899$590,535
72$840,098$295,362$191,608$586,224
73$873,017$257,064$145,256$580,937
74$907,631$215,227$95,689$574,623
75$944,062$169,625$42,747$567,230
76$982,439$120,021$0$558,704
77$1,022,907$66,161$0$551,193
78$1,065,621$7,780$0$549,887
79$1,110,751$0$0$547,914
80$1,158,481$0$0$568,417
81$1,209,015$0$0$593,595
82$1,262,573$0$0$620,307
83$1,319,396$0$0$648,679
84$1,379,748$0$0$678,845
85$1,443,918$0$0$710,954
86$1,512,222$0$0$745,169
87$1,585,005$0$0$781,667
88$1,662,646$0$0$820,643
89$1,745,559$0$0$862,311
90$1,834,199$0$0$906,905
91$1,929,064$0$0$954,682
92$2,030,700$0$0$1,005,923
93$2,139,706$0$0$1,060,937
94$2,256,741$0$0$1,120,064
95$2,382,524$0$0$1,183,675
96$2,517,848$0$0$1,252,180
97$2,663,584$0$0$1,326,027
98$2,820,685$0$0$1,405,709
99$2,990,201$0$0$1,491,768
100$3,173,285$0$0$1,584,800