Can I retire at age 61 with 502,000?

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 $502,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$41,455$41,085$40,725$40,374$40,030$39,399
2 years$20,522$20,140$19,770$19,410$19,062$18,428
3 years$13,546$13,162$12,792$12,436$12,094$11,477
4 years$10,058$9,675$9,309$8,960$8,625$8,030
5 years$7,966$7,585$7,224$6,882$6,557$5,984
6 years$6,572$6,194$5,838$5,504$5,188$4,639
7 years$5,576$5,202$4,852$4,525$4,219$3,694
8 years$4,830$4,459$4,115$3,796$3,500$2,999
9 years$4,250$3,882$3,544$3,233$2,948$2,470
10 years$3,786$3,422$3,090$2,787$2,512$2,057
11 years$3,407$3,046$2,720$2,425$2,160$1,729
12 years$3,091$2,734$2,414$2,127$1,872$1,463
13 years$2,824$2,471$2,157$1,878$1,632$1,245
14 years$2,595$2,246$1,938$1,667$1,431$1,064
15 years$2,397$2,052$1,750$1,487$1,260$913
16 years$2,224$1,883$1,586$1,331$1,114$787
17 years$2,071$1,734$1,443$1,196$987$679
18 years$1,936$1,602$1,318$1,078$878$588
19 years$1,815$1,485$1,206$974$782$510
20 years$1,706$1,380$1,107$882$699$443
21 years$1,608$1,285$1,018$801$625$386
22 years$1,519$1,200$939$728$561$336
23 years$1,437$1,122$867$663$503$293
24 years$1,363$1,051$801$605$452$256
25 years$1,294$987$742$552$407$224
26 years$1,231$927$688$505$367$195
27 years$1,173$873$639$462$331$171
28 years$1,119$822$594$423$298$150
29 years$1,069$776$553$388$269$131
30 years$1,022$733$515$356$243$115
31 years$978$693$480$327$220$101
32 years$937$655$448$301$199$88
33 years$899$621$418$277$180$77
34 years$863$588$391$255$163$68
35 years$829$558$365$234$148$60
36 years$797$529$342$216$134$52
37 years$767$503$320$199$121$46
38 years$739$478$300$183$110$40
39 years$712$454$281$169$100$35
40 years$686$432$263$156$90$31
41 years$662$412$247$144$82$27
42 years$639$392$231$133$74$24
43 years$617$373$217$122$68$21
44 years$596$356$204$113$61$18
45 years$577$339$191$104$56$16
46 years$558$324$180$96$51$14
47 years$540$309$169$89$46$13
48 years$522$295$159$82$42$11
49 years$506$282$149$76$38$10
50 years$490$269$140$70$34$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $502,000, adding $5,432 every year, while hoping to spend $40,303 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: 62/18/20 Blend
60$502,000$502,000$502,000$502,000
61$558,807$532,201$524,420$590,246
62$572,923$515,397$499,106$595,304
63$587,129$496,418$471,593$595,846
64$601,390$475,117$441,765$595,511
65$615,668$451,334$409,501$594,220
66$629,920$424,904$374,674$591,885
67$644,097$395,649$337,150$588,412
68$658,142$363,383$296,792$583,698
69$671,993$327,909$253,455$577,634
70$685,579$289,019$206,988$570,100
71$698,819$246,492$157,233$560,968
72$711,623$200,095$104,026$550,099
73$723,892$149,583$47,194$537,342
74$735,513$94,696$0$522,534
75$746,359$35,160$0$508,370
76$756,289$0$0$502,722
77$765,147$0$0$501,150
78$772,758$0$0$505,669
79$778,927$0$0$509,180
80$783,436$0$0$511,536
81$786,044$0$0$512,571
82$786,483$0$0$512,099
83$784,456$0$0$509,919
84$779,631$0$0$505,801
85$771,641$0$0$499,496
86$760,080$0$0$490,723
87$744,495$0$0$479,175
88$724,389$0$0$464,508
89$699,206$0$0$446,344
90$668,333$0$0$424,262
91$631,093$0$0$397,798
92$586,734$0$0$366,438
93$534,424$0$0$329,614
94$473,247$0$0$286,696
95$402,185$0$0$236,989
96$320,116$0$0$179,726
97$225,799$0$0$114,056
98$117,861$0$0$39,042
99$0$0$0$0
100$0$0$0$0