Can I retire at age 61 with 483,000?

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 $483,000?

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$39,886$39,530$39,184$38,845$38,515$37,538
2 years$19,745$19,378$19,021$18,676$18,341$17,363
3 years$13,033$12,664$12,308$11,966$11,636$10,688
4 years$9,677$9,309$8,957$8,621$8,299$7,388
5 years$7,664$7,298$6,951$6,621$6,309$5,437
6 years$6,323$5,960$5,617$5,295$4,992$4,160
7 years$5,365$5,005$4,668$4,354$4,060$3,269
8 years$4,647$4,290$3,959$3,652$3,368$2,617
9 years$4,089$3,735$3,410$3,111$2,836$2,125
10 years$3,643$3,293$2,973$2,681$2,417$1,743
11 years$3,278$2,931$2,617$2,334$2,078$1,443
12 years$2,974$2,631$2,323$2,047$1,801$1,202
13 years$2,717$2,378$2,075$1,807$1,571$1,007
14 years$2,497$2,161$1,865$1,604$1,377$847
15 years$2,306$1,974$1,683$1,431$1,212$715
16 years$2,140$1,811$1,526$1,281$1,071$605
17 years$1,993$1,668$1,389$1,151$950$514
18 years$1,863$1,541$1,268$1,037$845$437
19 years$1,746$1,429$1,161$937$753$372
20 years$1,642$1,328$1,065$849$672$318
21 years$1,547$1,237$980$770$602$271
22 years$1,461$1,154$903$700$539$232
23 years$1,383$1,080$834$638$484$199
24 years$1,311$1,011$771$582$435$170
25 years$1,245$949$714$531$392$146
26 years$1,185$892$662$486$353$125
27 years$1,128$840$615$445$318$107
28 years$1,077$791$572$407$287$92
29 years$1,028$746$532$374$259$79
30 years$983$705$496$343$234$68
31 years$941$666$462$315$212$58
32 years$902$630$431$289$191$50
33 years$865$597$403$266$173$43
34 years$830$566$376$245$157$37
35 years$798$537$352$225$142$32
36 years$767$509$329$208$129$27
37 years$738$484$308$191$117$24
38 years$711$460$288$176$106$20
39 years$685$437$270$163$96$17
40 years$660$416$253$150$87$15
41 years$637$396$237$138$79$13
42 years$615$377$223$128$72$11
43 years$594$359$209$118$65$10
44 years$574$343$196$109$59$8
45 years$555$327$184$101$54$7
46 years$537$312$173$93$49$6
47 years$519$297$163$86$44$5
48 years$503$284$153$79$40$5
49 years$487$271$144$73$36$4
50 years$472$259$135$68$33$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $483,000, adding $6,970 every year, while hoping to spend $34,023 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: 68/13/19 Blend
60$483,000$483,000$483,000$483,000
61$539,456$513,857$506,370$573,164
62$558,280$502,835$487,133$585,552
63$577,884$490,134$466,112$594,476
64$598,311$475,634$443,210$603,406
65$619,609$459,210$418,327$612,339
66$641,828$440,729$391,360$621,276
67$665,022$420,053$362,198$630,216
68$689,250$397,031$330,727$639,162
69$714,576$371,508$296,829$648,116
70$741,068$343,318$260,379$657,083
71$768,801$312,285$221,246$666,069
72$797,856$278,223$179,294$675,082
73$828,319$240,938$134,382$684,134
74$860,285$200,222$86,362$693,238
75$893,858$155,856$35,079$702,411
76$929,148$107,610$0$711,675
77$966,278$55,240$0$725,036
78$1,005,379$0$0$746,390
79$1,046,596$0$0$768,905
80$1,090,085$0$0$801,009
81$1,136,016$0$0$834,929
82$1,184,577$0$0$870,804
83$1,235,972$0$0$908,785
84$1,290,421$0$0$949,039
85$1,348,168$0$0$991,747
86$1,409,478$0$0$1,037,107
87$1,474,641$0$0$1,085,336
88$1,543,975$0$0$1,136,671
89$1,617,827$0$0$1,191,373
90$1,696,577$0$0$1,249,725
91$1,780,642$0$0$1,312,039
92$1,870,479$0$0$1,378,657
93$1,966,588$0$0$1,449,952
94$2,069,518$0$0$1,526,336
95$2,179,871$0$0$1,608,259
96$2,298,306$0$0$1,696,214
97$2,425,548$0$0$1,790,744
98$2,562,392$0$0$1,892,443
99$2,709,712$0$0$2,001,966
100$2,868,466$0$0$2,120,030