Can I retire at age 61 with 518,000?

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 $518,000?

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 years$42,776$42,395$42,023$41,660$41,306$40,960
2 years$21,176$20,782$20,400$20,029$19,670$19,321
3 years$13,977$13,581$13,200$12,833$12,479$12,138
4 years$10,378$9,984$9,606$9,245$8,900$8,570
5 years$8,220$7,827$7,455$7,101$6,766$6,447
6 years$6,781$6,392$6,025$5,679$5,354$5,047
7 years$5,754$5,368$5,006$4,669$4,354$4,060
8 years$4,984$4,601$4,246$3,917$3,612$3,330
9 years$4,385$4,006$3,657$3,336$3,042$2,772
10 years$3,907$3,531$3,188$2,876$2,592$2,334
11 years$3,515$3,144$2,807$2,503$2,229$1,983
12 years$3,189$2,821$2,491$2,195$1,932$1,697
13 years$2,914$2,550$2,226$1,938$1,684$1,461
14 years$2,678$2,318$2,000$1,720$1,477$1,264
15 years$2,474$2,117$1,805$1,534$1,300$1,099
16 years$2,295$1,943$1,637$1,374$1,149$958
17 years$2,138$1,789$1,490$1,234$1,019$838
18 years$1,998$1,653$1,360$1,112$906$735
19 years$1,873$1,532$1,245$1,005$807$646
20 years$1,761$1,424$1,142$910$721$568
21 years$1,659$1,326$1,051$826$645$501
22 years$1,567$1,238$968$751$578$443
23 years$1,483$1,158$894$684$519$392
24 years$1,406$1,085$827$624$467$347
25 years$1,335$1,018$766$570$420$307
26 years$1,270$957$710$521$378$272
27 years$1,210$900$660$477$341$242
28 years$1,155$848$613$437$308$215
29 years$1,103$800$571$401$278$191
30 years$1,054$756$532$368$251$170
31 years$1,009$715$496$338$227$151
32 years$967$676$462$310$205$134
33 years$928$640$432$285$186$120
34 years$891$607$403$263$168$107
35 years$856$576$377$242$152$95
36 years$823$546$353$223$138$85
37 years$792$519$330$205$125$75
38 years$762$493$309$189$113$67
39 years$735$469$290$174$103$60
40 years$708$446$272$161$93$53
41 years$683$425$255$148$85$48
42 years$659$404$239$137$77$42
43 years$637$385$224$126$70$38
44 years$615$367$210$117$63$34
45 years$595$350$198$108$57$30
46 years$575$334$186$100$52$27
47 years$557$319$174$92$47$24
48 years$539$304$164$85$43$21
49 years$522$291$154$79$39$19
50 years$506$278$145$73$35$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $518,000, adding $4,194 every year, while hoping to spend $29,123 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: 78/8/14 Blend
60$518,000$518,000$518,000$518,000
61$575,162$547,708$539,679$618,055
62$602,842$543,559$526,772$642,745
63$632,369$538,231$512,456$665,693
64$663,901$531,635$496,654$690,045
65$697,611$523,677$479,283$715,932
66$733,688$514,257$460,260$743,493
67$772,340$503,272$439,494$772,888
68$813,794$490,608$416,893$804,288
69$858,302$476,148$392,359$837,885
70$906,136$459,766$365,791$873,889
71$957,598$441,331$337,081$912,534
72$1,013,019$420,703$306,120$954,074
73$1,072,762$397,732$272,790$998,794
74$1,137,226$372,263$236,970$1,047,006
75$1,206,849$344,130$198,535$1,099,053
76$1,282,113$313,158$157,351$1,155,318
77$1,363,547$279,161$113,281$1,216,219
78$1,451,733$241,944$66,180$1,282,218
79$1,547,311$201,300$15,898$1,353,828
80$1,650,983$157,011$0$1,431,612
81$1,763,525$108,846$0$1,521,833
82$1,885,787$56,561$0$1,622,437
83$2,018,704$0$0$1,731,829
84$2,163,306$0$0$1,850,882
85$2,320,727$0$0$1,985,923
86$2,492,213$0$0$2,133,046
87$2,679,136$0$0$2,293,429
88$2,883,005$0$0$2,468,369
89$3,105,483$0$0$2,659,295
90$3,348,399$0$0$2,867,779
91$3,613,766$0$0$3,095,551
92$3,903,801$0$0$3,344,517
93$4,220,944$0$0$3,616,773
94$4,567,884$0$0$3,914,630
95$4,947,578$0$0$4,240,630
96$5,363,284$0$0$4,597,573
97$5,818,591$0$0$4,988,543
98$6,317,449$0$0$5,416,936
99$6,864,210$0$0$5,886,490
100$7,463,664$0$0$6,401,326