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%12.1%
1 years$58,053$57,536$57,031$56,539$56,058$55,565
2 years$28,739$28,204$27,685$27,182$26,694$26,198
3 years$18,969$18,432$17,914$17,416$16,936$16,451
4 years$14,085$13,549$13,037$12,547$12,079$11,609
5 years$11,155$10,623$10,117$9,637$9,182$8,729
6 years$9,203$8,674$8,176$7,707$7,266$6,830
7 years$7,809$7,285$6,794$6,336$5,909$5,491
8 years$6,764$6,244$5,762$5,316$4,902$4,501
9 years$5,951$5,437$4,963$4,528$4,128$3,745
10 years$5,302$4,792$4,327$3,903$3,517$3,151
11 years$4,771$4,266$3,809$3,397$3,025$2,676
12 years$4,328$3,829$3,381$2,979$2,621$2,288
13 years$3,954$3,460$3,020$2,630$2,286$1,969
14 years$3,634$3,145$2,714$2,335$2,004$1,703
15 years$3,357$2,873$2,450$2,082$1,764$1,479
16 years$3,115$2,636$2,221$1,864$1,559$1,288
17 years$2,901$2,428$2,021$1,675$1,383$1,126
18 years$2,711$2,244$1,845$1,510$1,229$987
19 years$2,542$2,079$1,689$1,364$1,096$866
20 years$2,389$1,932$1,550$1,236$979$762
21 years$2,252$1,800$1,426$1,121$876$672
22 years$2,127$1,680$1,314$1,020$785$593
23 years$2,013$1,571$1,214$928$705$524
24 years$1,908$1,472$1,122$847$633$463
25 years$1,812$1,382$1,039$773$570$410
26 years$1,724$1,298$964$707$513$364
27 years$1,643$1,222$895$647$463$323
28 years$1,567$1,151$832$593$418$286
29 years$1,497$1,086$774$544$377$254
30 years$1,431$1,026$721$499$341$226
31 years$1,370$970$673$458$308$201
32 years$1,313$918$627$421$279$178
33 years$1,259$869$586$387$252$159
34 years$1,209$824$547$356$228$141
35 years$1,161$781$512$328$207$126
36 years$1,117$741$479$302$187$112
37 years$1,074$704$448$278$170$100
38 years$1,035$669$420$257$154$89
39 years$997$636$393$237$140$79
40 years$961$605$369$218$127$70
41 years$927$576$346$201$115$63
42 years$895$549$324$186$104$56
43 years$864$523$304$172$95$50
44 years$835$499$286$158$86$44
45 years$807$475$268$146$78$40
46 years$781$454$252$135$71$35
47 years$756$433$237$125$64$31
48 years$732$413$222$115$58$28
49 years$708$395$209$107$53$25
50 years$686$377$196$99$48$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $703,000, adding $2,752 every year, while hoping to spend $51,806 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: 80/7/13 Blend
60$703,000$703,000$703,000$703,000
61$777,545$740,286$729,389$837,586
62$801,733$721,439$698,703$858,584
63$826,652$699,931$665,252$874,635
64$852,322$675,580$628,889$890,752
65$878,763$648,187$589,461$906,919
66$905,996$617,547$546,806$923,116
67$934,040$583,439$500,757$939,324
68$962,917$545,633$451,138$955,521
69$992,649$503,883$397,764$971,682
70$1,023,255$457,930$340,446$987,783
71$1,054,758$407,499$278,982$1,003,794
72$1,087,180$352,303$213,164$1,019,685
73$1,120,540$292,034$142,773$1,035,425
74$1,154,861$226,369$67,582$1,050,976
75$1,190,164$154,968$0$1,066,302
76$1,226,469$77,470$0$1,083,117
77$1,263,796$0$0$1,109,738
78$1,302,166$0$0$1,137,270
79$1,341,598$0$0$1,171,696
80$1,382,111$0$0$1,207,063
81$1,423,721$0$0$1,243,387
82$1,466,445$0$0$1,280,683
83$1,510,299$0$0$1,318,962
84$1,555,295$0$0$1,358,236
85$1,601,446$0$0$1,398,516
86$1,648,761$0$0$1,439,810
87$1,697,247$0$0$1,482,122
88$1,746,909$0$0$1,525,457
89$1,797,747$0$0$1,569,816
90$1,849,759$0$0$1,615,194
91$1,902,938$0$0$1,661,588
92$1,957,274$0$0$1,708,985
93$2,012,749$0$0$1,757,370
94$2,069,342$0$0$1,806,725
95$2,127,022$0$0$1,857,021
96$2,185,755$0$0$1,908,227
97$2,245,493$0$0$1,960,303
98$2,306,185$0$0$2,013,200
99$2,367,763$0$0$2,066,860
100$2,430,153$0$0$2,121,215