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%14.4%
1 years$41,537$41,167$40,806$40,454$40,110$39,381
2 years$20,563$20,180$19,809$19,449$19,100$18,368
3 years$13,572$13,188$12,818$12,461$12,118$11,406
4 years$10,078$9,694$9,328$8,978$8,643$7,956
5 years$7,982$7,601$7,239$6,896$6,570$5,911
6 years$6,585$6,206$5,850$5,514$5,199$4,567
7 years$5,587$5,212$4,861$4,534$4,228$3,625
8 years$4,839$4,468$4,123$3,803$3,507$2,933
9 years$4,258$3,890$3,551$3,240$2,954$2,407
10 years$3,793$3,429$3,096$2,793$2,517$1,997
11 years$3,413$3,053$2,726$2,430$2,164$1,672
12 years$3,097$2,740$2,419$2,132$1,876$1,409
13 years$2,829$2,476$2,161$1,882$1,636$1,194
14 years$2,600$2,251$1,942$1,671$1,434$1,017
15 years$2,402$2,056$1,753$1,490$1,262$869
16 years$2,228$1,886$1,589$1,334$1,116$746
17 years$2,076$1,737$1,446$1,199$989$641
18 years$1,940$1,605$1,320$1,080$880$553
19 years$1,819$1,488$1,209$976$784$477
20 years$1,710$1,382$1,109$884$700$413
21 years$1,611$1,288$1,020$802$627$357
22 years$1,522$1,202$940$729$562$310
23 years$1,440$1,124$868$664$504$269
24 years$1,365$1,053$803$606$453$234
25 years$1,297$989$744$553$408$203
26 years$1,234$929$690$506$367$177
27 years$1,175$874$641$463$331$154
28 years$1,121$824$595$424$299$134
29 years$1,071$777$554$389$270$117
30 years$1,024$734$516$357$244$102
31 years$980$694$481$328$220$89
32 years$939$657$449$301$199$78
33 years$901$622$419$277$180$68
34 years$865$589$392$255$163$59
35 years$831$559$366$235$148$52
36 years$799$531$343$216$134$45
37 years$769$504$321$199$122$39
38 years$740$479$300$184$110$34
39 years$713$455$281$169$100$30
40 years$688$433$264$156$91$26
41 years$663$412$247$144$82$23
42 years$640$393$232$133$75$20
43 years$618$374$218$123$68$17
44 years$598$357$204$113$61$15
45 years$578$340$192$105$56$13
46 years$559$324$180$97$51$12
47 years$541$310$169$89$46$10
48 years$523$296$159$83$42$9
49 years$507$282$149$76$38$8
50 years$491$270$141$71$34$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $503,000, adding $2,414 every year, while hoping to spend $33,746 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: 66/27/7 Blend
60$503,000$503,000$503,000$503,000
61$556,796$530,137$522,341$592,702
62$577,684$520,208$503,933$606,933
63$599,571$508,662$483,779$618,217
64$622,524$495,383$461,782$629,656
65$646,615$480,250$437,845$641,260
66$671,922$463,135$411,865$653,042
67$698,530$443,900$383,734$665,017
68$726,531$422,402$353,341$677,205
69$756,025$398,489$320,566$689,626
70$787,123$371,998$285,288$702,305
71$819,944$342,760$247,380$715,273
72$854,617$310,594$206,705$728,562
73$891,284$275,309$163,126$742,212
74$930,101$236,705$116,497$756,269
75$971,235$194,568$66,664$770,784
76$1,014,873$148,674$13,469$785,816
77$1,061,216$98,785$0$801,433
78$1,110,485$44,650$0$820,947
79$1,162,922$0$0$842,494
80$1,218,791$0$0$869,341
81$1,278,382$0$0$912,144
82$1,342,013$0$0$957,867
83$1,410,030$0$0$1,006,764
84$1,482,817$0$0$1,059,112
85$1,560,789$0$0$1,115,213
86$1,644,407$0$0$1,175,400
87$1,734,173$0$0$1,240,040
88$1,830,639$0$0$1,309,532
89$1,934,412$0$0$1,384,317
90$2,046,156$0$0$1,464,878
91$2,166,603$0$0$1,551,747
92$2,296,556$0$0$1,645,506
93$2,436,896$0$0$1,746,796
94$2,588,592$0$0$1,856,321
95$2,752,710$0$0$1,974,855
96$2,930,420$0$0$2,103,249
97$3,123,011$0$0$2,242,439
98$3,331,897$0$0$2,393,453
99$3,558,635$0$0$2,557,422
100$3,804,937$0$0$2,735,591