Can I retire at age 61 with 503,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%13.3%
1 years$41,537$41,167$40,806$40,454$40,110$39,560
2 years$20,563$20,180$19,809$19,449$19,100$18,546
3 years$13,572$13,188$12,818$12,461$12,118$11,578
4 years$10,078$9,694$9,328$8,978$8,643$8,121
5 years$7,982$7,601$7,239$6,896$6,570$6,068
6 years$6,585$6,206$5,850$5,514$5,199$4,717
7 years$5,587$5,212$4,861$4,534$4,228$3,767
8 years$4,839$4,468$4,123$3,803$3,507$3,067
9 years$4,258$3,890$3,551$3,240$2,954$2,534
10 years$3,793$3,429$3,096$2,793$2,517$2,117
11 years$3,413$3,053$2,726$2,430$2,164$1,784
12 years$3,097$2,740$2,419$2,132$1,876$1,514
13 years$2,829$2,476$2,161$1,882$1,636$1,293
14 years$2,600$2,251$1,942$1,671$1,434$1,109
15 years$2,402$2,056$1,753$1,490$1,262$955
16 years$2,228$1,886$1,589$1,334$1,116$826
17 years$2,076$1,737$1,446$1,199$989$715
18 years$1,940$1,605$1,320$1,080$880$622
19 years$1,819$1,488$1,209$976$784$541
20 years$1,710$1,382$1,109$884$700$472
21 years$1,611$1,288$1,020$802$627$412
22 years$1,522$1,202$940$729$562$360
23 years$1,440$1,124$868$664$504$316
24 years$1,365$1,053$803$606$453$277
25 years$1,297$989$744$553$408$243
26 years$1,234$929$690$506$367$213
27 years$1,175$874$641$463$331$187
28 years$1,121$824$595$424$299$164
29 years$1,071$777$554$389$270$145
30 years$1,024$734$516$357$244$127
31 years$980$694$481$328$220$112
32 years$939$657$449$301$199$99
33 years$901$622$419$277$180$87
34 years$865$589$392$255$163$76
35 years$831$559$366$235$148$67
36 years$799$531$343$216$134$59
37 years$769$504$321$199$122$52
38 years$740$479$300$184$110$46
39 years$713$455$281$169$100$41
40 years$688$433$264$156$91$36
41 years$663$412$247$144$82$32
42 years$640$393$232$133$75$28
43 years$618$374$218$123$68$25
44 years$598$357$204$113$61$22
45 years$578$340$192$105$56$19
46 years$559$324$180$97$51$17
47 years$541$310$169$89$46$15
48 years$523$296$159$83$42$13
49 years$507$282$149$76$38$12
50 years$491$270$141$71$34$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $503,000, adding $6,861 every year, while hoping to spend $41,063 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: 54/35/11 Blend
60$503,000$503,000$503,000$503,000
61$561,383$534,724$526,928$589,758
62$574,953$517,235$500,889$592,306
63$588,532$497,512$472,602$590,034
64$602,075$475,404$441,947$586,599
65$615,536$450,748$408,802$581,900
66$628,860$423,373$373,035$575,827
67$641,984$393,099$334,512$568,260
68$654,840$359,734$293,092$559,074
69$667,349$323,077$248,626$548,130
70$679,424$282,914$200,961$535,281
71$690,968$239,018$149,935$520,367
72$701,869$191,153$95,381$503,216
73$712,006$139,065$37,122$483,644
74$721,240$82,490$0$461,449
75$729,420$21,145$0$439,357
76$736,375$0$0$419,035
77$741,914$0$0$413,328
78$745,827$0$0$414,769
79$747,878$0$0$415,074
80$747,807$0$0$414,088
81$745,324$0$0$411,636
82$740,106$0$0$407,526
83$731,797$0$0$401,546
84$720,001$0$0$393,457
85$704,279$0$0$382,999
86$684,144$0$0$369,880
87$659,059$0$0$353,779
88$628,427$0$0$334,340
89$591,587$0$0$311,170
90$547,811$0$0$283,832
91$496,289$0$0$251,844
92$436,130$0$0$214,674
93$366,344$0$0$171,733
94$285,841$0$0$122,370
95$193,413$0$0$65,865
96$87,728$0$0$1,423
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0