Can I retire at age 61 with 743,000?

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 $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%
1 years$61,356$60,810$60,277$59,756$59,248$58,998
2 years$30,374$29,809$29,260$28,729$28,213$27,961
3 years$20,048$19,480$18,933$18,407$17,900$17,653
4 years$14,886$14,320$13,779$13,261$12,766$12,527
5 years$11,790$11,227$10,693$10,186$9,705$9,473
6 years$9,727$9,168$8,641$8,146$7,679$7,456
7 years$8,253$7,699$7,181$6,697$6,245$6,031
8 years$7,149$6,600$6,090$5,618$5,181$4,975
9 years$6,290$5,746$5,245$4,785$4,363$4,165
10 years$5,603$5,065$4,573$4,125$3,718$3,528
11 years$5,042$4,509$4,026$3,590$3,197$3,016
12 years$4,575$4,047$3,573$3,149$2,771$2,598
13 years$4,179$3,657$3,192$2,780$2,416$2,251
14 years$3,841$3,324$2,868$2,468$2,118$1,960
15 years$3,548$3,037$2,590$2,201$1,865$1,715
16 years$3,292$2,786$2,348$1,971$1,648$1,505
17 years$3,066$2,566$2,136$1,771$1,461$1,326
18 years$2,865$2,371$1,950$1,596$1,299$1,171
19 years$2,686$2,198$1,785$1,442$1,158$1,036
20 years$2,525$2,042$1,639$1,306$1,034$919
21 years$2,380$1,902$1,507$1,185$926$816
22 years$2,248$1,776$1,389$1,078$830$726
23 years$2,127$1,661$1,283$981$745$647
24 years$2,017$1,556$1,186$895$669$577
25 years$1,916$1,460$1,099$817$602$516
26 years$1,822$1,372$1,019$747$543$461
27 years$1,736$1,292$946$684$489$412
28 years$1,656$1,217$880$627$441$369
29 years$1,582$1,148$819$575$399$331
30 years$1,512$1,084$762$527$360$296
31 years$1,448$1,025$711$484$326$266
32 years$1,387$970$663$445$295$239
33 years$1,331$918$619$409$267$214
34 years$1,277$870$579$377$241$192
35 years$1,227$826$541$347$219$173
36 years$1,180$784$506$319$198$155
37 years$1,136$744$474$294$180$139
38 years$1,093$707$444$271$163$125
39 years$1,054$673$416$250$148$113
40 years$1,016$640$389$231$134$101
41 years$980$609$365$213$121$91
42 years$946$580$343$196$110$82
43 years$914$553$321$181$100$74
44 years$883$527$302$167$91$66
45 years$853$502$283$155$82$60
46 years$825$479$266$143$75$54
47 years$799$457$250$132$68$48
48 years$773$437$235$122$62$44
49 years$749$417$221$113$56$39
50 years$725$398$208$104$51$35

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $743,000, adding $6,288 every year, while hoping to spend $35,572 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: 30/48/22 Blend
60$743,000$743,000$743,000$743,000
61$825,272$785,893$774,377$844,219
62$871,601$786,554$762,470$859,887
63$921,464$786,054$748,972$873,124
64$975,183$784,300$733,792$886,625
65$1,033,113$781,192$716,835$900,434
66$1,095,643$776,623$698,002$914,605
67$1,163,202$770,481$677,188$929,197
68$1,236,259$762,645$654,285$944,282
69$1,315,333$752,990$629,178$959,942
70$1,400,990$741,379$601,749$976,269
71$1,493,856$727,673$571,873$993,370
72$1,594,619$711,718$539,420$1,011,367
73$1,704,034$693,356$504,254$1,030,398
74$1,822,932$672,417$466,234$1,050,621
75$1,952,228$648,722$425,209$1,072,214
76$2,092,928$622,082$381,026$1,095,380
77$2,246,139$592,297$333,523$1,120,346
78$2,413,079$559,153$282,530$1,147,370
79$2,595,088$522,427$227,870$1,176,742
80$2,793,643$481,881$169,359$1,208,790
81$3,010,367$437,266$106,805$1,243,879
82$3,247,047$388,315$40,006$1,282,421
83$3,505,652$334,748$0$1,324,880
84$3,788,348$276,270$0$1,379,114
85$4,097,520$212,568$0$1,448,860
86$4,435,794$143,311$0$1,525,417
87$4,806,063$68,151$0$1,609,567
88$5,211,510$0$0$1,702,177
89$5,655,643$0$0$1,811,223
90$6,142,323$0$0$1,970,275
91$6,675,804$0$0$2,144,742
92$7,260,768$0$0$2,336,169
93$7,902,376$0$0$2,546,261
94$8,606,310$0$0$2,776,895
95$9,378,828$0$0$3,030,136
96$10,226,826$0$0$3,308,263
97$11,157,898$0$0$3,613,785
98$12,180,408$0$0$3,949,464
99$13,303,573$0$0$4,318,345
100$14,537,546$0$0$4,723,782