Can I retire at age 61 with 512,000?

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 $512,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.3%
1 years$42,280$41,904$41,536$41,178$40,828$39,458
2 years$20,931$20,541$20,163$19,797$19,442$18,075
3 years$13,815$13,424$13,047$12,684$12,335$11,014
4 years$10,258$9,868$9,495$9,138$8,797$7,533
5 years$8,125$7,737$7,368$7,019$6,687$5,483
6 years$6,703$6,318$5,955$5,613$5,292$4,147
7 years$5,687$5,305$4,948$4,615$4,303$3,220
8 years$4,926$4,548$4,197$3,871$3,570$2,546
9 years$4,334$3,960$3,615$3,298$3,007$2,041
10 years$3,861$3,490$3,151$2,842$2,562$1,653
11 years$3,475$3,107$2,774$2,474$2,203$1,349
12 years$3,152$2,789$2,462$2,170$1,909$1,109
13 years$2,880$2,520$2,200$1,916$1,665$915
14 years$2,647$2,291$1,977$1,701$1,459$759
15 years$2,445$2,093$1,785$1,517$1,285$631
16 years$2,268$1,920$1,618$1,358$1,136$526
17 years$2,113$1,768$1,472$1,220$1,007$440
18 years$1,975$1,634$1,344$1,100$895$369
19 years$1,851$1,514$1,230$994$798$309
20 years$1,740$1,407$1,129$900$713$260
21 years$1,640$1,311$1,039$817$638$218
22 years$1,549$1,224$957$743$572$184
23 years$1,466$1,144$884$676$513$155
24 years$1,390$1,072$817$617$461$130
25 years$1,320$1,006$757$563$415$110
26 years$1,256$946$702$515$374$93
27 years$1,196$890$652$471$337$78
28 years$1,141$839$606$432$304$66
29 years$1,090$791$564$396$275$56
30 years$1,042$747$525$363$248$47
31 years$998$706$490$334$224$40
32 years$956$668$457$307$203$34
33 years$917$633$427$282$184$28
34 years$880$600$399$260$166$24
35 years$846$569$373$239$151$20
36 years$813$540$349$220$136$17
37 years$782$513$326$203$124$14
38 years$753$487$306$187$112$12
39 years$726$463$286$172$102$10
40 years$700$441$268$159$92$9
41 years$675$420$252$147$84$7
42 years$652$400$236$135$76$6
43 years$630$381$222$125$69$5
44 years$608$363$208$115$63$4
45 years$588$346$195$107$57$4
46 years$569$330$183$98$52$3
47 years$550$315$172$91$47$3
48 years$533$301$162$84$43$2
49 years$516$287$152$78$39$2
50 years$500$274$143$72$35$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $512,000, adding $5,011 every year, while hoping to spend $35,471 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: 52/37/11 Blend
60$512,000$512,000$512,000$512,000
61$569,393$542,257$534,321$597,108
62$589,730$531,087$514,480$605,383
63$610,953$518,180$492,785$610,158
64$633,114$503,415$469,137$614,530
65$656,271$486,661$443,433$618,469
66$680,485$467,782$415,562$621,947
67$705,823$446,632$385,412$624,930
68$732,357$423,057$352,863$627,389
69$760,165$396,895$317,792$629,290
70$789,333$367,974$280,070$630,602
71$819,953$336,112$239,559$631,290
72$852,124$301,118$196,121$631,322
73$885,955$262,787$149,605$630,665
74$921,566$220,907$99,860$629,286
75$959,083$175,249$46,723$627,152
76$998,648$125,575$0$624,232
77$1,040,413$71,631$0$621,667
78$1,084,546$13,151$0$624,186
79$1,131,227$0$0$626,292
80$1,180,656$0$0$648,402
81$1,233,048$0$0$677,538
82$1,288,642$0$0$708,481
83$1,347,696$0$0$741,377
84$1,410,493$0$0$776,388
85$1,477,343$0$0$813,692
86$1,548,585$0$0$853,481
87$1,624,592$0$0$895,968
88$1,705,771$0$0$941,384
89$1,792,566$0$0$989,984
90$1,885,469$0$0$1,042,048
91$1,985,014$0$0$1,097,882
92$2,091,790$0$0$1,157,822
93$2,206,444$0$0$1,222,235
94$2,329,682$0$0$1,291,529
95$2,462,284$0$0$1,366,145
96$2,605,102$0$0$1,446,574
97$2,759,076$0$0$1,533,350
98$2,925,235$0$0$1,627,062
99$3,104,711$0$0$1,728,359
100$3,298,749$0$0$1,837,951