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%16.7%
1 years$51,364$50,907$50,460$50,025$49,599$48,244
2 years$25,428$24,954$24,495$24,050$23,619$22,263
3 years$16,783$16,308$15,850$15,409$14,985$13,671
4 years$12,462$11,988$11,535$11,101$10,687$9,426
5 years$9,870$9,399$8,951$8,527$8,124$6,919
6 years$8,143$7,675$7,234$6,819$6,428$5,280
7 years$6,909$6,445$6,012$5,606$5,228$4,136
8 years$5,984$5,525$5,098$4,703$4,337$3,302
9 years$5,266$4,810$4,391$4,006$3,653$2,673
10 years$4,691$4,240$3,828$3,453$3,112$2,186
11 years$4,221$3,775$3,370$3,005$2,677$1,803
12 years$3,830$3,388$2,991$2,636$2,319$1,497
13 years$3,499$3,062$2,672$2,327$2,023$1,250
14 years$3,215$2,783$2,401$2,066$1,773$1,048
15 years$2,970$2,542$2,168$1,842$1,561$881
16 years$2,756$2,333$1,966$1,650$1,380$744
17 years$2,567$2,148$1,789$1,482$1,223$629
18 years$2,399$1,985$1,633$1,336$1,088$533
19 years$2,249$1,840$1,495$1,207$970$452
20 years$2,114$1,710$1,372$1,093$866$385
21 years$1,992$1,592$1,262$992$775$327
22 years$1,882$1,486$1,163$902$695$279
23 years$1,781$1,390$1,074$822$624$238
24 years$1,688$1,303$993$749$560$203
25 years$1,604$1,222$920$684$504$173
26 years$1,525$1,149$853$626$454$148
27 years$1,453$1,081$792$573$410$126
28 years$1,386$1,019$736$525$370$108
29 years$1,324$961$685$481$334$92
30 years$1,266$908$638$442$302$79
31 years$1,212$858$595$406$273$68
32 years$1,161$812$555$373$247$58
33 years$1,114$769$518$343$223$50
34 years$1,069$729$484$315$202$42
35 years$1,027$691$453$290$183$36
36 years$988$656$424$267$166$31
37 years$951$623$396$246$150$27
38 years$915$592$371$227$136$23
39 years$882$563$348$209$124$20
40 years$850$536$326$193$112$17
41 years$820$510$306$178$102$14
42 years$792$486$287$164$92$12
43 years$765$463$269$152$84$11
44 years$739$441$253$140$76$9
45 years$714$421$237$129$69$8
46 years$691$401$223$120$63$7
47 years$669$383$209$110$57$6
48 years$647$366$197$102$52$5
49 years$627$349$185$94$47$4
50 years$607$333$174$87$43$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $622,000, adding $2,115 every year, while hoping to spend $35,277 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: 40/35/25 Blend
60$622,000$622,000$622,000$622,000
61$687,626$654,660$645,019$709,976
62$720,229$649,203$629,092$720,863
63$754,976$642,298$611,450$729,164
64$792,047$633,834$591,997$737,452
65$831,641$623,697$570,635$745,748
66$873,976$611,767$547,259$754,075
67$919,292$597,913$521,762$762,465
68$967,848$581,999$494,030$770,952
69$1,019,933$563,882$463,944$779,581
70$1,075,862$543,408$431,382$788,401
71$1,135,981$520,415$396,214$797,474
72$1,200,668$494,733$358,304$806,867
73$1,270,341$466,180$317,513$816,663
74$1,345,458$434,565$273,692$826,956
75$1,426,522$399,685$226,687$837,851
76$1,514,084$361,327$176,338$849,474
77$1,608,753$319,264$122,478$861,965
78$1,711,195$273,257$64,930$875,486
79$1,822,144$223,054$3,512$890,221
80$1,942,407$168,388$0$906,377
81$2,072,870$108,977$0$940,738
82$2,214,510$44,523$0$979,099
83$2,368,398$0$0$1,020,880
84$2,535,715$0$0$1,076,217
85$2,717,759$0$0$1,155,154
86$2,915,958$0$0$1,241,171
87$3,131,885$0$0$1,334,960
88$3,367,270$0$0$1,437,282
89$3,624,015$0$0$1,548,974
90$3,904,217$0$0$1,670,960
91$4,210,182$0$0$1,804,254
92$4,544,449$0$0$1,949,973
93$4,909,813$0$0$2,109,349
94$5,309,353$0$0$2,283,737
95$5,746,455$0$0$2,474,628
96$6,224,852$0$0$2,683,665
97$6,748,651$0$0$2,912,658
98$7,322,377$0$0$3,163,599
99$7,951,012$0$0$3,438,682
100$8,640,043$0$0$3,740,324