Can I retire at age 61 with 504,000?

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 $504,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$41,620$41,249$40,887$40,534$40,190$39,540
2 years$20,604$20,220$19,848$19,488$19,138$18,485
3 years$13,599$13,214$12,843$12,486$12,142$11,507
4 years$10,098$9,714$9,347$8,995$8,660$8,046
5 years$7,998$7,616$7,253$6,909$6,583$5,994
6 years$6,598$6,219$5,862$5,525$5,209$4,644
7 years$5,598$5,223$4,871$4,543$4,236$3,696
8 years$4,849$4,477$4,131$3,811$3,514$2,999
9 years$4,267$3,898$3,558$3,246$2,960$2,469
10 years$3,801$3,436$3,102$2,798$2,522$2,055
11 years$3,420$3,059$2,731$2,435$2,169$1,725
12 years$3,103$2,745$2,424$2,136$1,879$1,459
13 years$2,835$2,481$2,165$1,886$1,639$1,241
14 years$2,605$2,255$1,946$1,674$1,437$1,060
15 years$2,407$2,060$1,757$1,493$1,265$909
16 years$2,233$1,890$1,593$1,337$1,118$782
17 years$2,080$1,741$1,449$1,201$991$675
18 years$1,944$1,608$1,323$1,082$881$584
19 years$1,822$1,491$1,211$978$786$506
20 years$1,713$1,385$1,112$886$702$440
21 years$1,614$1,290$1,022$804$628$382
22 years$1,525$1,204$942$731$563$333
23 years$1,443$1,126$870$666$505$290
24 years$1,368$1,055$805$607$454$253
25 years$1,299$990$745$554$409$221
26 years$1,236$931$691$507$368$193
27 years$1,178$876$642$464$332$169
28 years$1,123$826$597$425$299$148
29 years$1,073$779$555$390$270$129
30 years$1,026$735$517$358$244$113
31 years$982$695$482$329$221$99
32 years$941$658$450$302$200$87
33 years$903$623$420$278$181$76
34 years$866$590$392$256$164$67
35 years$832$560$367$235$148$58
36 years$800$532$343$217$134$51
37 years$770$505$321$200$122$45
38 years$742$480$301$184$110$39
39 years$715$456$282$170$100$35
40 years$689$434$264$156$91$30
41 years$665$413$248$144$82$27
42 years$642$394$232$133$75$23
43 years$620$375$218$123$68$20
44 years$599$357$205$114$62$18
45 years$579$341$192$105$56$16
46 years$560$325$181$97$51$14
47 years$542$310$170$89$46$12
48 years$524$296$159$83$42$11
49 years$508$283$150$76$38$9
50 years$492$270$141$71$35$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $504,000, adding $3,572 every year, while hoping to spend $24,247 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: 60/22/18 Blend
60$504,000$504,000$504,000$504,000
61$559,093$532,381$524,569$589,833
62$590,321$532,669$516,343$611,318
63$623,923$532,158$507,029$631,748
64$660,113$530,784$496,565$653,479
65$699,131$528,478$484,886$676,640
66$741,236$525,168$471,923$701,374
67$786,716$520,775$457,607$727,840
68$835,886$515,218$441,862$756,214
69$889,093$508,410$424,610$786,689
70$946,716$500,258$405,771$819,483
71$1,009,176$490,666$385,259$854,833
72$1,076,933$479,529$362,986$893,004
73$1,150,492$466,738$338,858$934,288
74$1,230,412$452,178$312,779$979,008
75$1,317,304$435,725$284,648$1,027,523
76$1,411,843$417,249$254,358$1,080,229
77$1,514,771$396,614$221,798$1,137,563
78$1,626,903$373,674$186,854$1,200,011
79$1,749,138$348,274$149,404$1,268,108
80$1,882,464$320,254$109,323$1,342,448
81$2,027,969$289,440$66,479$1,423,685
82$2,186,851$255,651$20,735$1,512,544
83$2,360,427$218,696$0$1,609,826
84$2,550,150$178,371$0$1,721,810
85$2,757,616$134,462$0$1,848,680
86$2,984,586$86,744$0$1,987,560
87$3,232,995$34,976$0$2,139,677
88$3,504,978$0$0$2,306,382
89$3,802,883$0$0$2,494,273
90$4,129,297$0$0$2,709,462
91$4,487,069$0$0$2,945,364
92$4,879,336$0$0$3,204,054
93$5,309,553$0$0$3,487,816
94$5,781,527$0$0$3,799,165
95$6,299,450$0$0$4,140,873
96$6,867,939$0$0$4,515,992
97$7,492,082$0$0$4,927,885
98$8,177,481$0$0$5,380,255
99$8,930,309$0$0$5,877,184
100$9,757,365$0$0$6,423,166