Can I retire at age 61 with 516,000?

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 $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%11.7%
1 years$42,611$42,231$41,861$41,499$41,147$40,853
2 years$21,094$20,702$20,321$19,952$19,594$19,298
3 years$13,923$13,529$13,149$12,783$12,431$12,142
4 years$10,338$9,945$9,569$9,210$8,866$8,586
5 years$8,188$7,797$7,426$7,074$6,740$6,469
6 years$6,755$6,367$6,001$5,657$5,333$5,072
7 years$5,732$5,347$4,987$4,651$4,337$4,087
8 years$4,965$4,583$4,229$3,902$3,598$3,358
9 years$4,368$3,991$3,643$3,323$3,030$2,800
10 years$3,891$3,517$3,176$2,865$2,582$2,362
11 years$3,502$3,131$2,796$2,493$2,220$2,011
12 years$3,177$2,811$2,481$2,187$1,924$1,724
13 years$2,903$2,540$2,217$1,931$1,678$1,487
14 years$2,668$2,309$1,992$1,714$1,471$1,289
15 years$2,464$2,109$1,798$1,528$1,295$1,123
16 years$2,286$1,935$1,631$1,369$1,145$981
17 years$2,129$1,782$1,484$1,230$1,015$860
18 years$1,990$1,647$1,354$1,108$902$755
19 years$1,866$1,526$1,240$1,001$804$665
20 years$1,754$1,418$1,138$907$718$587
21 years$1,653$1,321$1,047$823$643$519
22 years$1,561$1,233$965$748$576$459
23 years$1,477$1,153$891$682$517$407
24 years$1,401$1,081$824$622$465$361
25 years$1,330$1,014$763$568$418$321
26 years$1,266$953$708$519$377$285
27 years$1,206$897$657$475$340$254
28 years$1,150$845$611$435$307$226
29 years$1,098$797$568$399$277$201
30 years$1,050$753$529$366$250$179
31 years$1,005$712$494$336$226$160
32 years$963$674$461$309$205$143
33 years$924$638$430$284$185$127
34 years$887$605$402$262$168$114
35 years$852$573$376$241$152$102
36 years$820$544$351$222$138$91
37 years$789$517$329$204$125$81
38 years$759$491$308$188$113$72
39 years$732$467$289$174$102$65
40 years$705$444$270$160$93$58
41 years$681$423$254$148$84$52
42 years$657$403$238$136$77$46
43 years$634$384$223$126$69$41
44 years$613$366$210$116$63$37
45 years$593$349$197$107$57$33
46 years$573$333$185$99$52$30
47 years$555$318$174$92$47$27
48 years$537$303$163$85$43$24
49 years$520$290$153$78$39$21
50 years$504$277$144$72$35$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $516,000, adding $5,469 every year, while hoping to spend $35,047 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: 55/19/26 Blend
60$516,000$516,000$516,000$516,000
61$574,273$546,925$538,927$601,472
62$595,559$536,435$519,692$610,296
63$617,842$524,256$498,637$615,803
64$641,186$510,268$475,665$621,081
65$665,661$494,346$450,674$626,119
66$691,344$476,354$423,557$630,908
67$718,316$456,150$394,201$635,440
68$746,668$433,585$362,491$639,707
69$776,497$408,500$328,303$643,705
70$807,909$380,726$291,510$647,430
71$841,019$350,085$251,980$650,881
72$875,954$316,390$209,572$654,059
73$912,851$279,443$164,142$656,969
74$951,859$239,033$115,538$659,620
75$993,142$194,938$63,602$662,023
76$1,036,877$146,925$8,167$664,196
77$1,083,260$94,746$0$666,162
78$1,132,504$38,140$0$682,094
79$1,184,841$0$0$701,221
80$1,240,527$0$0$726,214
81$1,299,840$0$0$761,355
82$1,363,085$0$0$798,854
83$1,430,597$0$0$838,912
84$1,502,743$0$0$881,752
85$1,579,923$0$0$927,616
86$1,662,579$0$0$976,769
87$1,751,192$0$0$1,029,504
88$1,846,294$0$0$1,086,140
89$1,948,465$0$0$1,147,030
90$2,058,345$0$0$1,212,559
91$2,176,632$0$0$1,283,150
92$2,304,097$0$0$1,359,270
93$2,441,586$0$0$1,441,428
94$2,590,026$0$0$1,530,188
95$2,750,438$0$0$1,626,166
96$2,923,944$0$0$1,730,040
97$3,111,775$0$0$1,842,556
98$3,315,287$0$0$1,964,535
99$3,535,970$0$0$2,096,877
100$3,775,462$0$0$2,240,576