Can I retire at age 61 with 503,000?

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 $503,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.6%
1 years$41,537$41,167$40,806$40,454$40,110$38,718
2 years$20,563$20,180$19,809$19,449$19,100$17,712
3 years$13,572$13,188$12,818$12,461$12,118$10,777
4 years$10,078$9,694$9,328$8,978$8,643$7,360
5 years$7,982$7,601$7,239$6,896$6,570$5,348
6 years$6,585$6,206$5,850$5,514$5,199$4,039
7 years$5,587$5,212$4,861$4,534$4,228$3,130
8 years$4,839$4,468$4,123$3,803$3,507$2,471
9 years$4,258$3,890$3,551$3,240$2,954$1,977
10 years$3,793$3,429$3,096$2,793$2,517$1,598
11 years$3,413$3,053$2,726$2,430$2,164$1,302
12 years$3,097$2,740$2,419$2,132$1,876$1,068
13 years$2,829$2,476$2,161$1,882$1,636$880
14 years$2,600$2,251$1,942$1,671$1,434$728
15 years$2,402$2,056$1,753$1,490$1,262$604
16 years$2,228$1,886$1,589$1,334$1,116$503
17 years$2,076$1,737$1,446$1,199$989$419
18 years$1,940$1,605$1,320$1,080$880$350
19 years$1,819$1,488$1,209$976$784$293
20 years$1,710$1,382$1,109$884$700$246
21 years$1,611$1,288$1,020$802$627$206
22 years$1,522$1,202$940$729$562$173
23 years$1,440$1,124$868$664$504$145
24 years$1,365$1,053$803$606$453$122
25 years$1,297$989$744$553$408$103
26 years$1,234$929$690$506$367$86
27 years$1,175$874$641$463$331$73
28 years$1,121$824$595$424$299$61
29 years$1,071$777$554$389$270$52
30 years$1,024$734$516$357$244$43
31 years$980$694$481$328$220$37
32 years$939$657$449$301$199$31
33 years$901$622$419$277$180$26
34 years$865$589$392$255$163$22
35 years$831$559$366$235$148$18
36 years$799$531$343$216$134$16
37 years$769$504$321$199$122$13
38 years$740$479$300$184$110$11
39 years$713$455$281$169$100$9
40 years$688$433$264$156$91$8
41 years$663$412$247$144$82$7
42 years$640$393$232$133$75$6
43 years$618$374$218$123$68$5
44 years$598$357$204$113$61$4
45 years$578$340$192$105$56$3
46 years$559$324$180$97$51$3
47 years$541$310$169$89$46$2
48 years$523$296$159$83$42$2
49 years$507$282$149$76$38$2
50 years$491$270$141$71$34$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $503,000, adding $3,300 every year, while hoping to spend $23,963 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: 69/24/7 Blend
60$503,000$503,000$503,000$503,000
61$557,710$531,051$523,254$595,336
62$589,100$531,576$515,287$621,202
63$622,889$531,324$506,250$646,245
64$659,295$530,230$496,081$672,987
65$698,561$528,229$484,717$701,590
66$740,950$525,248$472,091$732,232
67$786,754$521,212$458,133$765,111
68$836,291$516,041$442,769$800,444
69$889,915$509,648$425,924$838,472
70$948,009$501,945$407,516$879,459
71$1,011,001$492,834$387,462$923,699
72$1,079,356$482,216$365,674$971,515
73$1,153,587$469,982$342,062$1,023,264
74$1,234,261$456,019$316,529$1,079,339
75$1,321,998$440,206$288,975$1,140,177
76$1,417,482$422,417$259,296$1,206,257
77$1,521,466$402,516$227,383$1,278,110
78$1,634,778$380,361$193,123$1,356,322
79$1,758,328$355,802$156,395$1,441,538
80$1,893,119$328,678$117,076$1,534,472
81$2,040,256$298,821$75,037$1,635,913
82$2,200,952$266,054$30,141$1,746,728
83$2,376,547$230,188$0$1,867,878
84$2,568,511$191,024$0$2,001,749
85$2,778,467$148,352$0$2,150,672
86$3,008,200$101,950$0$2,313,694
87$3,259,674$51,584$0$2,492,250
88$3,535,056$0$0$2,687,925
89$3,836,727$0$0$2,903,255
90$4,167,313$0$0$3,154,182
91$4,529,705$0$0$3,429,279
92$4,927,086$0$0$3,730,967
93$5,362,964$0$0$4,061,912
94$5,841,201$0$0$4,425,050
95$6,366,052$0$0$4,823,617
96$6,942,202$0$0$5,261,175
97$7,574,815$0$0$5,741,648
98$8,269,576$0$0$6,269,361
99$9,032,749$0$0$6,849,075
100$9,871,236$0$0$7,486,037