Can I retire at age 61 with 703,000?

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 $703,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$58,053$57,536$57,031$56,539$56,058$54,460
2 years$28,739$28,204$27,685$27,182$26,694$25,097
3 years$18,969$18,432$17,914$17,416$16,936$15,389
4 years$14,085$13,549$13,037$12,547$12,079$10,594
5 years$11,155$10,623$10,117$9,637$9,182$7,764
6 years$9,203$8,674$8,176$7,707$7,266$5,915
7 years$7,809$7,285$6,794$6,336$5,909$4,626
8 years$6,764$6,244$5,762$5,316$4,902$3,686
9 years$5,951$5,437$4,963$4,528$4,128$2,978
10 years$5,302$4,792$4,327$3,903$3,517$2,432
11 years$4,771$4,266$3,809$3,397$3,025$2,002
12 years$4,328$3,829$3,381$2,979$2,621$1,659
13 years$3,954$3,460$3,020$2,630$2,286$1,382
14 years$3,634$3,145$2,714$2,335$2,004$1,156
15 years$3,357$2,873$2,450$2,082$1,764$971
16 years$3,115$2,636$2,221$1,864$1,559$817
17 years$2,901$2,428$2,021$1,675$1,383$690
18 years$2,711$2,244$1,845$1,510$1,229$583
19 years$2,542$2,079$1,689$1,364$1,096$494
20 years$2,389$1,932$1,550$1,236$979$419
21 years$2,252$1,800$1,426$1,121$876$356
22 years$2,127$1,680$1,314$1,020$785$302
23 years$2,013$1,571$1,214$928$705$257
24 years$1,908$1,472$1,122$847$633$219
25 years$1,812$1,382$1,039$773$570$186
26 years$1,724$1,298$964$707$513$159
27 years$1,643$1,222$895$647$463$135
28 years$1,567$1,151$832$593$418$116
29 years$1,497$1,086$774$544$377$99
30 years$1,431$1,026$721$499$341$84
31 years$1,370$970$673$458$308$72
32 years$1,313$918$627$421$279$61
33 years$1,259$869$586$387$252$52
34 years$1,209$824$547$356$228$45
35 years$1,161$781$512$328$207$38
36 years$1,117$741$479$302$187$33
37 years$1,074$704$448$278$170$28
38 years$1,035$669$420$257$154$24
39 years$997$636$393$237$140$20
40 years$961$605$369$218$127$17
41 years$927$576$346$201$115$15
42 years$895$549$324$186$104$13
43 years$864$523$304$172$95$11
44 years$835$499$286$158$86$9
45 years$807$475$268$146$78$8
46 years$781$454$252$135$71$7
47 years$756$433$237$125$64$6
48 years$732$413$222$115$58$5
49 years$708$395$209$107$53$4
50 years$686$377$196$99$48$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $703,000, adding $3,267 every year, while hoping to spend $47,887 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: 64/21/15 Blend
60$703,000$703,000$703,000$703,000
61$778,076$740,817$729,920$824,840
62$806,488$726,166$703,421$841,921
63$836,194$709,191$674,430$854,768
64$867,274$689,730$642,811$867,632
65$899,816$667,607$608,426$880,517
66$933,916$642,639$571,127$893,427
67$969,678$614,630$530,762$906,368
68$1,007,212$583,375$487,170$919,348
69$1,046,643$548,655$440,185$932,381
70$1,088,101$510,239$389,632$945,482
71$1,131,731$467,884$335,328$958,670
72$1,177,689$421,333$277,083$971,970
73$1,226,147$370,311$214,699$985,412
74$1,277,289$314,532$147,967$999,031
75$1,331,320$253,691$76,671$1,012,870
76$1,388,460$187,467$584$1,026,980
77$1,448,950$115,521$0$1,041,419
78$1,513,055$37,493$0$1,069,158
79$1,581,062$0$0$1,098,314
80$1,653,287$0$0$1,139,787
81$1,730,074$0$0$1,193,117
82$1,811,800$0$0$1,249,904
83$1,898,877$0$0$1,310,439
84$1,991,759$0$0$1,375,038
85$2,090,938$0$0$1,444,052
86$2,196,959$0$0$1,517,861
87$2,310,415$0$0$1,596,884
88$2,431,959$0$0$1,681,579
89$2,562,306$0$0$1,772,451
90$2,702,240$0$0$1,870,050
91$2,852,622$0$0$1,974,985
92$3,014,398$0$0$2,087,920
93$3,188,606$0$0$2,209,586
94$3,376,386$0$0$2,340,785
95$3,578,989$0$0$2,482,401
96$3,797,791$0$0$2,635,402
97$4,034,303$0$0$2,800,852
98$4,290,188$0$0$2,979,922
99$4,567,272$0$0$3,173,898
100$4,867,562$0$0$3,384,197