Can I retire at age 61 with 516,000?

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 $516,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.2%
1 years$42,611$42,231$41,861$41,499$41,147$40,103
2 years$21,094$20,702$20,321$19,952$19,594$18,549
3 years$13,923$13,529$13,149$12,783$12,431$11,418
4 years$10,338$9,945$9,569$9,210$8,866$7,892
5 years$8,188$7,797$7,426$7,074$6,740$5,808
6 years$6,755$6,367$6,001$5,657$5,333$4,445
7 years$5,732$5,347$4,987$4,651$4,337$3,492
8 years$4,965$4,583$4,229$3,902$3,598$2,796
9 years$4,368$3,991$3,643$3,323$3,030$2,270
10 years$3,891$3,517$3,176$2,865$2,582$1,863
11 years$3,502$3,131$2,796$2,493$2,220$1,541
12 years$3,177$2,811$2,481$2,187$1,924$1,284
13 years$2,903$2,540$2,217$1,931$1,678$1,075
14 years$2,668$2,309$1,992$1,714$1,471$905
15 years$2,464$2,109$1,798$1,528$1,295$764
16 years$2,286$1,935$1,631$1,369$1,145$647
17 years$2,129$1,782$1,484$1,230$1,015$549
18 years$1,990$1,647$1,354$1,108$902$467
19 years$1,866$1,526$1,240$1,001$804$398
20 years$1,754$1,418$1,138$907$718$339
21 years$1,653$1,321$1,047$823$643$290
22 years$1,561$1,233$965$748$576$248
23 years$1,477$1,153$891$682$517$212
24 years$1,401$1,081$824$622$465$182
25 years$1,330$1,014$763$568$418$156
26 years$1,266$953$708$519$377$134
27 years$1,206$897$657$475$340$115
28 years$1,150$845$611$435$307$99
29 years$1,098$797$568$399$277$85
30 years$1,050$753$529$366$250$73
31 years$1,005$712$494$336$226$62
32 years$963$674$461$309$205$54
33 years$924$638$430$284$185$46
34 years$887$605$402$262$168$40
35 years$852$573$376$241$152$34
36 years$820$544$351$222$138$29
37 years$789$517$329$204$125$25
38 years$759$491$308$188$113$22
39 years$732$467$289$174$102$19
40 years$705$444$270$160$93$16
41 years$681$423$254$148$84$14
42 years$657$403$238$136$77$12
43 years$634$384$223$126$69$10
44 years$613$366$210$116$63$9
45 years$593$349$197$107$57$8
46 years$573$333$185$99$52$7
47 years$555$318$174$92$47$6
48 years$537$303$163$85$43$5
49 years$520$290$153$78$39$4
50 years$504$277$144$72$35$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $516,000, adding $5,319 every year, while hoping to spend $35,243 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: 44/45/11 Blend
60$516,000$516,000$516,000$516,000
61$574,119$546,771$538,773$597,345
62$595,180$536,064$519,323$603,327
63$617,209$523,652$498,041$605,813
64$640,267$509,413$474,827$607,719
65$664,419$493,219$449,580$609,004
66$689,739$474,936$422,189$609,628
67$716,304$454,420$392,545$609,549
68$744,200$431,519$360,527$608,722
69$773,518$406,073$326,015$607,103
70$804,359$377,912$288,878$604,646
71$836,831$346,858$248,984$601,303
72$871,055$312,721$206,191$597,029
73$907,158$275,300$160,355$591,773
74$945,283$234,385$111,321$585,488
75$985,583$189,750$58,931$578,124
76$1,028,225$141,161$3,019$569,632
77$1,073,394$88,368$0$559,964
78$1,121,289$31,106$0$555,722
79$1,172,129$0$0$551,019
80$1,226,154$0$0$560,780
81$1,283,624$0$0$587,583
82$1,344,828$0$0$616,163
83$1,410,078$0$0$646,670
84$1,479,717$0$0$679,270
85$1,554,124$0$0$714,144
86$1,633,709$0$0$751,491
87$1,718,925$0$0$791,530
88$1,810,268$0$0$834,500
89$1,908,283$0$0$880,662
90$2,013,567$0$0$930,306
91$2,126,774$0$0$983,748
92$2,248,625$0$0$1,041,336
93$2,379,910$0$0$1,103,451
94$2,521,497$0$0$1,170,512
95$2,674,339$0$0$1,242,980
96$2,839,484$0$0$1,321,362
97$3,018,082$0$0$1,406,215
98$3,211,401$0$0$1,498,149
99$3,420,830$0$0$1,597,839
100$3,647,900$0$0$1,706,024