Can I retire at age 61 with 743,000?

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 $743,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$61,356$60,810$60,277$59,756$59,248$58,924
2 years$30,374$29,809$29,260$28,729$28,213$27,886
3 years$20,048$19,480$18,933$18,407$17,900$17,580
4 years$14,886$14,320$13,779$13,261$12,766$12,456
5 years$11,790$11,227$10,693$10,186$9,705$9,405
6 years$9,727$9,168$8,641$8,146$7,679$7,390
7 years$8,253$7,699$7,181$6,697$6,245$5,968
8 years$7,149$6,600$6,090$5,618$5,181$4,915
9 years$6,290$5,746$5,245$4,785$4,363$4,108
10 years$5,603$5,065$4,573$4,125$3,718$3,473
11 years$5,042$4,509$4,026$3,590$3,197$2,964
12 years$4,575$4,047$3,573$3,149$2,771$2,548
13 years$4,179$3,657$3,192$2,780$2,416$2,203
14 years$3,841$3,324$2,868$2,468$2,118$1,915
15 years$3,548$3,037$2,590$2,201$1,865$1,672
16 years$3,292$2,786$2,348$1,971$1,648$1,465
17 years$3,066$2,566$2,136$1,771$1,461$1,287
18 years$2,865$2,371$1,950$1,596$1,299$1,134
19 years$2,686$2,198$1,785$1,442$1,158$1,002
20 years$2,525$2,042$1,639$1,306$1,034$887
21 years$2,380$1,902$1,507$1,185$926$786
22 years$2,248$1,776$1,389$1,078$830$698
23 years$2,127$1,661$1,283$981$745$620
24 years$2,017$1,556$1,186$895$669$552
25 years$1,916$1,460$1,099$817$602$492
26 years$1,822$1,372$1,019$747$543$439
27 years$1,736$1,292$946$684$489$392
28 years$1,656$1,217$880$627$441$350
29 years$1,582$1,148$819$575$399$313
30 years$1,512$1,084$762$527$360$279
31 years$1,448$1,025$711$484$326$250
32 years$1,387$970$663$445$295$224
33 years$1,331$918$619$409$267$200
34 years$1,277$870$579$377$241$180
35 years$1,227$826$541$347$219$161
36 years$1,180$784$506$319$198$144
37 years$1,136$744$474$294$180$129
38 years$1,093$707$444$271$163$116
39 years$1,054$673$416$250$148$104
40 years$1,016$640$389$231$134$93
41 years$980$609$365$213$121$84
42 years$946$580$343$196$110$75
43 years$914$553$321$181$100$67
44 years$883$527$302$167$91$60
45 years$853$502$283$155$82$54
46 years$825$479$266$143$75$49
47 years$799$457$250$132$68$44
48 years$773$437$235$122$62$39
49 years$749$417$221$113$56$35
50 years$725$398$208$104$51$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $743,000, adding $4,283 every year, while hoping to spend $50,450 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: 66/12/22 Blend
60$743,000$743,000$743,000$743,000
61$823,204$783,825$772,308$872,644
62$853,492$768,554$744,502$891,110
63$885,179$750,844$714,074$905,145
64$918,354$730,522$680,882$919,309
65$953,114$707,405$644,779$933,617
66$989,563$681,299$605,611$948,085
67$1,027,816$652,001$563,216$962,734
68$1,067,996$619,292$517,427$977,588
69$1,110,238$582,943$468,067$992,678
70$1,154,688$542,713$414,953$1,008,035
71$1,201,505$498,345$357,893$1,023,702
72$1,250,862$449,567$296,685$1,039,723
73$1,302,947$396,093$231,122$1,056,153
74$1,357,967$337,621$160,984$1,073,054
75$1,416,146$273,830$86,042$1,090,497
76$1,477,728$204,383$6,060$1,108,563
77$1,542,981$128,923$0$1,127,346
78$1,612,198$47,073$0$1,165,567
79$1,685,698$0$0$1,207,459
80$1,763,830$0$0$1,257,289
81$1,846,976$0$0$1,316,957
82$1,935,555$0$0$1,380,551
83$2,030,026$0$0$1,448,404
84$2,130,889$0$0$1,520,879
85$2,238,694$0$0$1,598,377
86$2,354,046$0$0$1,681,333
87$2,477,604$0$0$1,770,228
88$2,610,093$0$0$1,865,589
89$2,752,309$0$0$1,967,993
90$2,905,124$0$0$2,078,074
91$3,069,498$0$0$2,196,527
92$3,246,481$0$0$2,324,117
93$3,437,228$0$0$2,461,683
94$3,643,010$0$0$2,610,146
95$3,865,220$0$0$2,770,520
96$4,105,390$0$0$2,943,917
97$4,365,203$0$0$3,131,561
98$4,646,512$0$0$3,334,797
99$4,951,349$0$0$3,555,103
100$5,281,953$0$0$3,794,105