Can I retire at age 61 with 616,000?

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 $616,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.6%
1 years$50,869$50,416$49,974$49,542$49,121$47,606
2 years$25,183$24,714$24,259$23,818$23,391$21,878
3 years$16,622$16,151$15,697$15,261$14,840$13,376
4 years$12,342$11,872$11,424$10,994$10,584$9,181
5 years$9,775$9,308$8,865$8,445$8,046$6,707
6 years$8,064$7,601$7,164$6,753$6,366$5,093
7 years$6,842$6,383$5,954$5,552$5,178$3,970
8 years$5,927$5,471$5,049$4,658$4,295$3,152
9 years$5,215$4,764$4,349$3,967$3,617$2,537
10 years$4,646$4,199$3,791$3,420$3,082$2,064
11 years$4,180$3,738$3,338$2,976$2,651$1,693
12 years$3,793$3,355$2,962$2,611$2,297$1,397
13 years$3,465$3,032$2,647$2,305$2,003$1,159
14 years$3,184$2,756$2,378$2,046$1,756$966
15 years$2,942$2,518$2,147$1,825$1,546$807
16 years$2,729$2,310$1,947$1,634$1,366$677
17 years$2,542$2,127$1,771$1,468$1,212$569
18 years$2,376$1,966$1,617$1,323$1,077$479
19 years$2,227$1,822$1,480$1,195$960$404
20 years$2,094$1,693$1,359$1,083$858$341
21 years$1,973$1,577$1,250$983$767$288
22 years$1,863$1,472$1,152$893$688$244
23 years$1,764$1,377$1,063$814$618$206
24 years$1,672$1,290$983$742$555$175
25 years$1,588$1,211$911$678$499$148
26 years$1,511$1,138$845$620$450$126
27 years$1,439$1,071$784$567$406$107
28 years$1,373$1,009$729$520$366$90
29 years$1,311$952$679$477$330$77
30 years$1,254$899$632$437$299$65
31 years$1,200$850$589$402$270$55
32 years$1,150$804$550$369$244$47
33 years$1,103$761$513$339$221$40
34 years$1,059$722$480$312$200$34
35 years$1,017$685$448$288$181$29
36 years$978$650$420$265$164$25
37 years$941$617$393$244$149$21
38 years$907$586$368$225$135$18
39 years$873$558$345$207$122$15
40 years$842$531$323$191$111$13
41 years$812$505$303$176$101$11
42 years$784$481$284$163$91$9
43 years$757$458$267$150$83$8
44 years$732$437$250$139$75$7
45 years$708$417$235$128$68$6
46 years$684$397$221$118$62$5
47 years$662$379$207$109$56$4
48 years$641$362$195$101$51$3
49 years$621$346$183$93$46$3
50 years$601$330$172$86$42$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $616,000, adding $6,328 every year, while hoping to spend $36,284 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: 41/33/26 Blend
60$616,000$616,000$616,000$616,000
61$685,359$652,711$643,163$707,997
62$716,660$646,088$626,103$718,273
63$749,937$637,925$607,256$725,499
64$785,355$628,107$586,523$732,615
65$823,091$616,514$563,801$739,632
66$863,341$603,018$538,983$746,567
67$906,320$587,484$511,957$753,438
68$952,263$569,769$482,606$760,271
69$1,001,427$549,721$450,807$767,098
70$1,054,095$527,180$416,432$773,955
71$1,110,577$501,976$379,346$780,888
72$1,171,212$473,929$339,411$787,951
73$1,236,374$442,850$296,479$795,209
74$1,306,472$408,537$250,399$802,734
75$1,381,955$370,778$201,010$810,614
76$1,463,318$329,350$148,147$818,951
77$1,551,102$284,014$91,636$827,860
78$1,645,904$234,520$31,295$837,475
79$1,748,378$180,603$0$847,950
80$1,859,244$121,985$0$868,642
81$1,979,294$58,368$0$900,431
82$2,109,396$0$0$934,911
83$2,250,507$0$0$976,233
84$2,403,679$0$0$1,044,161
85$2,570,069$0$0$1,118,020
86$2,750,949$0$0$1,198,385
87$2,947,719$0$0$1,285,886
88$3,161,919$0$0$1,381,218
89$3,395,243$0$0$1,485,146
90$3,649,557$0$0$1,598,510
91$3,926,913$0$0$1,722,236
92$4,229,569$0$0$1,857,344
93$4,560,014$0$0$2,004,955
94$4,920,983$0$0$2,166,304
95$5,315,490$0$0$2,342,752
96$5,746,853$0$0$2,535,795
97$6,218,724$0$0$2,747,082
98$6,735,125$0$0$2,978,429
99$7,300,484$0$0$3,231,834
100$7,919,680$0$0$3,509,498