Can I retire at age 61 with 603,000?

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 $603,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$49,795$49,352$48,919$48,497$48,084$47,152
2 years$24,651$24,192$23,747$23,316$22,897$21,962
3 years$16,271$15,810$15,366$14,939$14,527$13,617
4 years$12,081$11,622$11,182$10,762$10,361$9,484
5 years$9,569$9,112$8,678$8,267$7,876$7,035
6 years$7,894$7,440$7,013$6,611$6,232$5,427
7 years$6,698$6,248$5,828$5,435$5,068$4,300
8 years$5,802$5,356$4,943$4,559$4,205$3,473
9 years$5,105$4,663$4,257$3,884$3,541$2,845
10 years$4,548$4,111$3,711$3,348$3,017$2,357
11 years$4,092$3,659$3,267$2,913$2,595$1,969
12 years$3,713$3,284$2,900$2,556$2,249$1,656
13 years$3,392$2,968$2,591$2,256$1,961$1,401
14 years$3,117$2,698$2,328$2,003$1,719$1,191
15 years$2,879$2,465$2,102$1,786$1,513$1,016
16 years$2,672$2,261$1,905$1,599$1,338$869
17 years$2,488$2,083$1,734$1,437$1,186$746
18 years$2,326$1,924$1,583$1,295$1,054$641
19 years$2,180$1,783$1,449$1,170$940$553
20 years$2,049$1,657$1,330$1,060$840$477
21 years$1,931$1,544$1,223$962$751$412
22 years$1,824$1,441$1,127$874$673$357
23 years$1,726$1,348$1,041$796$605$309
24 years$1,637$1,263$963$726$543$268
25 years$1,555$1,185$892$663$489$232
26 years$1,479$1,114$827$607$440$202
27 years$1,409$1,048$768$555$397$175
28 years$1,344$988$714$509$358$152
29 years$1,284$932$664$466$324$132
30 years$1,227$880$619$428$292$115
31 years$1,175$832$577$393$264$100
32 years$1,126$787$538$361$239$87
33 years$1,080$745$503$332$216$76
34 years$1,037$706$470$306$196$66
35 years$996$670$439$281$177$58
36 years$958$636$411$259$161$50
37 years$922$604$384$239$146$44
38 years$887$574$360$220$132$38
39 years$855$546$337$203$120$33
40 years$824$519$316$187$109$29
41 years$795$494$296$173$99$25
42 years$768$471$278$159$89$22
43 years$741$449$261$147$81$19
44 years$716$428$245$136$74$17
45 years$693$408$230$125$67$15
46 years$670$389$216$116$61$13
47 years$648$371$203$107$55$11
48 years$628$354$191$99$50$10
49 years$608$338$179$91$45$8
50 years$589$323$168$85$41$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $603,000, adding $5,443 every year, while hoping to spend $36,491 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: 39/40/21 Blend
60$603,000$603,000$603,000$603,000
61$670,120$638,161$628,815$691,879
62$699,647$630,605$611,054$700,495
63$730,961$621,456$591,475$705,946
64$764,209$610,596$569,979$711,097
65$799,546$597,904$546,461$715,941
66$837,145$583,247$520,813$720,473
67$877,195$566,487$492,922$724,691
68$919,902$547,478$462,668$728,598
69$965,492$526,064$429,927$732,199
70$1,014,213$502,081$394,570$735,502
71$1,066,335$475,356$356,461$738,522
72$1,122,157$445,705$315,458$741,280
73$1,182,006$412,932$271,414$743,802
74$1,246,238$376,834$224,175$746,123
75$1,315,248$337,192$173,578$748,285
76$1,389,467$293,778$119,456$750,341
77$1,469,368$246,348$61,633$752,355
78$1,555,471$194,647$0$754,404
79$1,648,348$138,404$0$756,593
80$1,748,626$77,332$0$773,753
81$1,856,995$11,131$0$792,228
82$1,974,214$0$0$812,210
83$2,101,114$0$0$860,553
84$2,238,612$0$0$918,309
85$2,387,716$0$0$981,011
86$2,549,532$0$0$1,049,133
87$2,725,279$0$0$1,123,198
88$2,916,296$0$0$1,203,779
89$3,124,058$0$0$1,291,509
90$3,350,187$0$0$1,387,083
91$3,596,465$0$0$1,491,267
92$3,864,858$0$0$1,604,902
93$4,157,526$0$0$1,728,917
94$4,476,847$0$0$1,864,331
95$4,825,439$0$0$2,012,267
96$5,206,185$0$0$2,173,963
97$5,622,255$0$0$2,350,780
98$6,077,144$0$0$2,544,217
99$6,574,696$0$0$2,755,925
100$7,119,145$0$0$2,987,722