Can I retire at age 61 with 516,000?

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 $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%12.1%
1 years$42,611$42,231$41,861$41,499$41,147$40,785
2 years$21,094$20,702$20,321$19,952$19,594$19,229
3 years$13,923$13,529$13,149$12,783$12,431$12,075
4 years$10,338$9,945$9,569$9,210$8,866$8,521
5 years$8,188$7,797$7,426$7,074$6,740$6,407
6 years$6,755$6,367$6,001$5,657$5,333$5,013
7 years$5,732$5,347$4,987$4,651$4,337$4,030
8 years$4,965$4,583$4,229$3,902$3,598$3,304
9 years$4,368$3,991$3,643$3,323$3,030$2,749
10 years$3,891$3,517$3,176$2,865$2,582$2,313
11 years$3,502$3,131$2,796$2,493$2,220$1,964
12 years$3,177$2,811$2,481$2,187$1,924$1,680
13 years$2,903$2,540$2,217$1,931$1,678$1,445
14 years$2,668$2,309$1,992$1,714$1,471$1,250
15 years$2,464$2,109$1,798$1,528$1,295$1,085
16 years$2,286$1,935$1,631$1,369$1,145$946
17 years$2,129$1,782$1,484$1,230$1,015$826
18 years$1,990$1,647$1,354$1,108$902$724
19 years$1,866$1,526$1,240$1,001$804$636
20 years$1,754$1,418$1,138$907$718$560
21 years$1,653$1,321$1,047$823$643$493
22 years$1,561$1,233$965$748$576$435
23 years$1,477$1,153$891$682$517$385
24 years$1,401$1,081$824$622$465$340
25 years$1,330$1,014$763$568$418$301
26 years$1,266$953$708$519$377$267
27 years$1,206$897$657$475$340$237
28 years$1,150$845$611$435$307$210
29 years$1,098$797$568$399$277$187
30 years$1,050$753$529$366$250$166
31 years$1,005$712$494$336$226$147
32 years$963$674$461$309$205$131
33 years$924$638$430$284$185$117
34 years$887$605$402$262$168$104
35 years$852$573$376$241$152$92
36 years$820$544$351$222$138$82
37 years$789$517$329$204$125$73
38 years$759$491$308$188$113$65
39 years$732$467$289$174$102$58
40 years$705$444$270$160$93$52
41 years$681$423$254$148$84$46
42 years$657$403$238$136$77$41
43 years$634$384$223$126$69$37
44 years$613$366$210$116$63$33
45 years$593$349$197$107$57$29
46 years$573$333$185$99$52$26
47 years$555$318$174$92$47$23
48 years$537$303$163$85$43$21
49 years$520$290$153$78$39$18
50 years$504$277$144$72$35$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $516,000, adding $3,790 every year, while hoping to spend $28,662 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: 48/36/16 Blend
60$516,000$516,000$516,000$516,000
61$572,541$545,193$537,195$597,288
62$600,444$541,412$524,695$611,028
63$630,233$536,484$510,816$622,698
64$662,069$530,324$495,480$634,747
65$696,130$522,840$478,609$647,222
66$732,612$513,935$460,119$660,174
67$771,726$503,507$439,921$673,665
68$813,709$491,445$417,925$687,760
69$858,817$477,636$394,035$702,538
70$907,333$461,956$368,151$718,086
71$959,565$444,276$340,169$734,500
72$1,015,856$424,461$309,980$751,891
73$1,076,578$402,364$277,469$770,385
74$1,142,143$377,834$242,518$790,120
75$1,213,002$350,708$205,003$811,254
76$1,289,650$320,815$164,793$833,964
77$1,372,634$287,975$121,753$858,447
78$1,462,553$251,995$75,741$884,924
79$1,560,065$212,675$26,611$913,645
80$1,665,896$169,800$0$944,886
81$1,780,843$123,146$0$983,365
82$1,905,783$72,474$0$1,030,156
83$2,041,680$17,533$0$1,081,125
84$2,189,597$0$0$1,136,735
85$2,350,700$0$0$1,214,111
86$2,526,276$0$0$1,306,060
87$2,717,738$0$0$1,406,384
88$2,926,644$0$0$1,515,904
89$3,154,706$0$0$1,635,526
90$3,403,811$0$0$1,766,247
91$3,676,036$0$0$1,909,165
92$3,973,666$0$0$2,065,487
93$4,299,219$0$0$2,236,544
94$4,655,466$0$0$2,423,801
95$5,045,458$0$0$2,628,871
96$5,472,557$0$0$2,853,530
97$5,940,462$0$0$3,099,734
98$6,453,248$0$0$3,369,638
99$7,015,406$0$0$3,665,614
100$7,631,877$0$0$3,990,277