Can I retire at age 61 with 515,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $515,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.2%
1 years$42,528$42,149$41,780$41,419$41,067$39,547
2 years$21,054$20,661$20,281$19,913$19,556$18,041
3 years$13,896$13,502$13,123$12,758$12,407$10,946
4 years$10,318$9,926$9,551$9,192$8,849$7,452
5 years$8,172$7,782$7,412$7,060$6,727$5,399
6 years$6,742$6,355$5,990$5,646$5,323$4,064
7 years$5,721$5,337$4,977$4,642$4,329$3,139
8 years$4,955$4,574$4,221$3,894$3,591$2,469
9 years$4,360$3,983$3,636$3,317$3,024$1,968
10 years$3,884$3,511$3,170$2,859$2,577$1,585
11 years$3,495$3,125$2,791$2,488$2,216$1,286
12 years$3,171$2,805$2,477$2,183$1,920$1,050
13 years$2,897$2,535$2,213$1,927$1,675$862
14 years$2,662$2,304$1,988$1,710$1,468$710
15 years$2,459$2,105$1,795$1,525$1,293$587
16 years$2,282$1,931$1,627$1,366$1,142$486
17 years$2,125$1,779$1,481$1,227$1,013$404
18 years$1,986$1,644$1,352$1,106$901$336
19 years$1,862$1,523$1,238$999$803$280
20 years$1,750$1,415$1,136$905$717$233
21 years$1,649$1,318$1,045$821$642$195
22 years$1,558$1,231$963$747$575$163
23 years$1,474$1,151$889$680$516$136
24 years$1,398$1,078$822$620$464$114
25 years$1,328$1,012$762$567$418$95
26 years$1,263$951$706$518$376$80
27 years$1,203$895$656$474$339$67
28 years$1,148$844$610$434$306$56
29 years$1,096$796$567$398$276$47
30 years$1,048$752$528$366$250$39
31 years$1,004$710$493$336$226$33
32 years$962$672$460$309$204$28
33 years$922$637$429$284$185$23
34 years$885$603$401$261$167$19
35 years$851$572$375$240$152$16
36 years$818$543$351$221$137$14
37 years$787$516$328$204$124$11
38 years$758$490$307$188$113$10
39 years$730$466$288$173$102$8
40 years$704$444$270$160$93$7
41 years$679$422$253$148$84$6
42 years$656$402$237$136$76$5
43 years$633$383$223$126$69$4
44 years$612$365$209$116$63$3
45 years$592$348$196$107$57$3
46 years$572$332$184$99$52$2
47 years$554$317$173$91$47$2
48 years$536$303$163$85$43$2
49 years$519$289$153$78$39$1
50 years$503$276$144$72$35$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $515,000, adding $6,919 every year, while hoping to spend $39,464 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: 55/21/24 Blend
60$515,000$515,000$515,000$515,000
61$574,667$547,372$539,389$602,145
62$591,294$532,204$515,470$606,605
63$608,293$514,970$489,426$606,750
64$625,663$495,527$461,145$606,082
65$643,397$473,724$430,510$604,533
66$661,488$449,401$397,397$602,035
67$679,927$422,389$361,677$598,512
68$698,703$392,509$323,216$593,884
69$717,800$359,571$281,873$588,067
70$737,202$323,377$237,502$580,970
71$756,887$283,713$189,949$572,495
72$776,832$240,358$139,055$562,539
73$797,008$193,074$84,652$550,992
74$817,382$141,613$26,567$537,735
75$837,914$85,712$0$522,642
76$858,561$25,092$0$514,648
77$879,273$0$0$512,389
78$899,991$0$0$518,318
79$920,649$0$0$529,983
80$941,174$0$0$541,541
81$961,481$0$0$552,938
82$981,475$0$0$564,117
83$1,001,049$0$0$575,012
84$1,020,082$0$0$585,549
85$1,038,440$0$0$595,645
86$1,055,971$0$0$605,208
87$1,072,507$0$0$614,133
88$1,087,857$0$0$622,305
89$1,101,810$0$0$629,595
90$1,114,130$0$0$635,859
91$1,124,555$0$0$640,936
92$1,132,793$0$0$644,648
93$1,138,516$0$0$646,796
94$1,141,365$0$0$647,160
95$1,140,935$0$0$645,494
96$1,136,781$0$0$641,526
97$1,128,406$0$0$634,955
98$1,115,261$0$0$625,445
99$1,096,736$0$0$612,626
100$1,072,154$0$0$596,085