Can I retire at age 61 with 506,000?

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 $506,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$41,785$41,413$41,050$40,695$40,349$39,073
2 years$20,686$20,300$19,927$19,565$19,214$17,940
3 years$13,653$13,267$12,894$12,535$12,190$10,958
4 years$10,138$9,752$9,384$9,031$8,694$7,514
5 years$8,029$7,646$7,282$6,937$6,609$5,483
6 years$6,624$6,243$5,885$5,547$5,230$4,159
7 years$5,621$5,243$4,890$4,561$4,253$3,238
8 years$4,868$4,494$4,147$3,826$3,528$2,568
9 years$4,284$3,913$3,572$3,259$2,971$2,065
10 years$3,816$3,449$3,114$2,809$2,532$1,678
11 years$3,434$3,071$2,742$2,445$2,177$1,374
12 years$3,115$2,756$2,433$2,144$1,887$1,133
13 years$2,846$2,491$2,174$1,893$1,645$938
14 years$2,616$2,264$1,953$1,681$1,442$781
15 years$2,416$2,068$1,764$1,499$1,270$652
16 years$2,242$1,898$1,599$1,342$1,122$545
17 years$2,088$1,748$1,455$1,206$995$458
18 years$1,951$1,615$1,328$1,087$885$385
19 years$1,829$1,497$1,216$982$789$324
20 years$1,720$1,391$1,116$889$704$273
21 years$1,621$1,295$1,026$807$630$230
22 years$1,531$1,209$946$734$565$195
23 years$1,449$1,131$873$668$507$164
24 years$1,374$1,060$808$610$456$139
25 years$1,305$994$748$557$410$118
26 years$1,241$935$694$509$370$100
27 years$1,182$880$644$466$333$84
28 years$1,128$829$599$427$301$72
29 years$1,077$782$557$391$271$61
30 years$1,030$738$519$359$245$51
31 years$986$698$484$330$222$44
32 years$945$660$452$303$201$37
33 years$906$625$422$279$182$31
34 years$870$593$394$257$164$27
35 years$836$562$368$236$149$23
36 years$804$534$345$218$135$19
37 years$773$507$323$200$122$16
38 years$745$482$302$185$111$14
39 years$717$458$283$170$101$12
40 years$692$436$265$157$91$10
41 years$667$415$249$145$83$8
42 years$644$395$233$134$75$7
43 years$622$376$219$123$68$6
44 years$601$359$205$114$62$5
45 years$581$342$193$105$56$4
46 years$562$326$181$97$51$4
47 years$544$312$170$90$46$3
48 years$527$297$160$83$42$3
49 years$510$284$150$77$38$2
50 years$494$271$141$71$35$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $506,000, adding $2,905 every year, while hoping to spend $21,266 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: 45/29/26 Blend
60$506,000$506,000$506,000$506,000
61$560,609$533,791$525,948$581,511
62$595,164$537,319$520,940$600,139
63$632,531$540,308$515,052$618,045
64$672,974$542,709$508,231$637,049
65$716,784$544,468$500,424$657,264
66$764,281$545,532$491,573$678,816
67$815,815$545,841$481,618$701,847
68$871,774$545,332$470,498$726,511
69$932,582$543,940$458,146$752,983
70$998,706$541,595$444,495$781,453
71$1,070,662$538,221$429,474$812,136
72$1,149,015$533,739$413,007$845,268
73$1,234,389$528,066$395,016$881,112
74$1,327,468$521,113$375,421$919,957
75$1,429,006$512,784$354,134$962,128
76$1,539,836$502,981$331,068$1,007,981
77$1,660,869$491,597$306,129$1,057,913
78$1,793,113$478,521$279,220$1,112,362
79$1,937,675$463,633$250,238$1,171,814
80$2,095,774$446,808$219,078$1,236,808
81$2,268,755$427,913$185,628$1,307,938
82$2,458,094$406,807$149,773$1,385,865
83$2,665,421$383,341$111,392$1,471,317
84$2,892,528$357,359$70,357$1,565,103
85$3,141,390$328,694$26,538$1,668,116
86$3,414,181$297,169$0$1,781,343
87$3,713,296$262,600$0$1,911,488
88$4,041,374$224,788$0$2,062,370
89$4,401,319$183,528$0$2,227,996
90$4,796,332$138,599$0$2,409,886
91$5,229,938$89,771$0$2,609,717
92$5,706,020$36,797$0$2,829,341
93$6,228,854$0$0$3,070,799
94$6,803,154$0$0$3,342,912
95$7,434,109$0$0$3,654,833
96$8,127,438$0$0$3,997,655
97$8,889,441$0$0$4,374,501
98$9,727,058$0$0$4,788,812
99$10,647,935$0$0$5,244,377
100$11,660,496$0$0$5,745,374