Can I retire at age 61 with 622,000?

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 $622,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.4%
1 years$51,364$50,907$50,460$50,025$49,599$48,499
2 years$25,428$24,954$24,495$24,050$23,619$22,516
3 years$16,783$16,308$15,850$15,409$14,985$13,914
4 years$12,462$11,988$11,535$11,101$10,687$9,656
5 years$9,870$9,399$8,951$8,527$8,124$7,136
6 years$8,143$7,675$7,234$6,819$6,428$5,485
7 years$6,909$6,445$6,012$5,606$5,228$4,329
8 years$5,984$5,525$5,098$4,703$4,337$3,482
9 years$5,266$4,810$4,391$4,006$3,653$2,840
10 years$4,691$4,240$3,828$3,453$3,112$2,342
11 years$4,221$3,775$3,370$3,005$2,677$1,948
12 years$3,830$3,388$2,991$2,636$2,319$1,631
13 years$3,499$3,062$2,672$2,327$2,023$1,374
14 years$3,215$2,783$2,401$2,066$1,773$1,162
15 years$2,970$2,542$2,168$1,842$1,561$986
16 years$2,756$2,333$1,966$1,650$1,380$840
17 years$2,567$2,148$1,789$1,482$1,223$717
18 years$2,399$1,985$1,633$1,336$1,088$614
19 years$2,249$1,840$1,495$1,207$970$526
20 years$2,114$1,710$1,372$1,093$866$451
21 years$1,992$1,592$1,262$992$775$388
22 years$1,882$1,486$1,163$902$695$334
23 years$1,781$1,390$1,074$822$624$288
24 years$1,688$1,303$993$749$560$248
25 years$1,604$1,222$920$684$504$214
26 years$1,525$1,149$853$626$454$185
27 years$1,453$1,081$792$573$410$160
28 years$1,386$1,019$736$525$370$138
29 years$1,324$961$685$481$334$119
30 years$1,266$908$638$442$302$103
31 years$1,212$858$595$406$273$89
32 years$1,161$812$555$373$247$77
33 years$1,114$769$518$343$223$67
34 years$1,069$729$484$315$202$58
35 years$1,027$691$453$290$183$50
36 years$988$656$424$267$166$43
37 years$951$623$396$246$150$37
38 years$915$592$371$227$136$32
39 years$882$563$348$209$124$28
40 years$850$536$326$193$112$24
41 years$820$510$306$178$102$21
42 years$792$486$287$164$92$18
43 years$765$463$269$152$84$16
44 years$739$441$253$140$76$14
45 years$714$421$237$129$69$12
46 years$691$401$223$120$63$10
47 years$669$383$209$110$57$9
48 years$647$366$197$102$52$8
49 years$627$349$185$94$47$7
50 years$607$333$174$87$43$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $622,000, adding $5,118 every year, while hoping to spend $38,416 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: 42/41/17 Blend
60$622,000$622,000$622,000$622,000
61$690,723$657,757$648,116$716,098
62$720,303$649,113$628,954$725,871
63$751,612$638,758$607,862$732,291
64$784,786$626,567$584,735$738,430
65$819,974$612,409$559,464$744,281
66$857,339$596,144$531,933$749,840
67$897,057$577,624$502,022$755,102
68$939,322$556,694$469,606$760,070
69$984,348$533,187$434,553$764,748
70$1,032,367$506,928$396,726$769,143
71$1,083,634$477,733$355,981$773,269
72$1,138,428$445,405$312,169$777,146
73$1,197,055$409,737$265,134$780,797
74$1,259,850$370,510$214,713$784,256
75$1,327,183$327,494$160,734$787,563
76$1,399,458$280,442$103,020$790,771
77$1,477,116$229,098$41,385$793,939
78$1,560,645$173,187$0$797,142
79$1,650,580$112,422$0$804,891
80$1,747,506$46,498$0$821,166
81$1,852,069$0$0$838,611
82$1,964,977$0$0$868,644
83$2,087,006$0$0$923,838
84$2,219,014$0$0$983,609
85$2,361,938$0$0$1,048,392
86$2,516,813$0$0$1,118,663
87$2,684,776$0$0$1,194,947
88$2,867,075$0$0$1,277,821
89$3,065,084$0$0$1,367,918
90$3,280,316$0$0$1,465,938
91$3,514,433$0$0$1,572,649
92$3,769,265$0$0$1,688,895
93$4,046,825$0$0$1,815,608
94$4,349,329$0$0$1,953,810
95$4,679,215$0$0$2,104,628
96$5,039,166$0$0$2,269,303
97$5,432,137$0$0$2,449,201
98$5,861,378$0$0$2,645,823
99$6,330,469$0$0$2,860,825
100$6,843,351$0$0$3,096,028