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%15.2%
1 years$51,364$50,907$50,460$50,025$49,599$48,538
2 years$25,428$24,954$24,495$24,050$23,619$22,555
3 years$16,783$16,308$15,850$15,409$14,985$13,951
4 years$12,462$11,988$11,535$11,101$10,687$9,692
5 years$9,870$9,399$8,951$8,527$8,124$7,171
6 years$8,143$7,675$7,234$6,819$6,428$5,517
7 years$6,909$6,445$6,012$5,606$5,228$4,359
8 years$5,984$5,525$5,098$4,703$4,337$3,510
9 years$5,266$4,810$4,391$4,006$3,653$2,867
10 years$4,691$4,240$3,828$3,453$3,112$2,367
11 years$4,221$3,775$3,370$3,005$2,677$1,972
12 years$3,830$3,388$2,991$2,636$2,319$1,653
13 years$3,499$3,062$2,672$2,327$2,023$1,394
14 years$3,215$2,783$2,401$2,066$1,773$1,180
15 years$2,970$2,542$2,168$1,842$1,561$1,004
16 years$2,756$2,333$1,966$1,650$1,380$856
17 years$2,567$2,148$1,789$1,482$1,223$732
18 years$2,399$1,985$1,633$1,336$1,088$627
19 years$2,249$1,840$1,495$1,207$970$538
20 years$2,114$1,710$1,372$1,093$866$463
21 years$1,992$1,592$1,262$992$775$398
22 years$1,882$1,486$1,163$902$695$343
23 years$1,781$1,390$1,074$822$624$296
24 years$1,688$1,303$993$749$560$256
25 years$1,604$1,222$920$684$504$221
26 years$1,525$1,149$853$626$454$191
27 years$1,453$1,081$792$573$410$165
28 years$1,386$1,019$736$525$370$143
29 years$1,324$961$685$481$334$124
30 years$1,266$908$638$442$302$107
31 years$1,212$858$595$406$273$93
32 years$1,161$812$555$373$247$81
33 years$1,114$769$518$343$223$70
34 years$1,069$729$484$315$202$61
35 years$1,027$691$453$290$183$53
36 years$988$656$424$267$166$46
37 years$951$623$396$246$150$39
38 years$915$592$371$227$136$34
39 years$882$563$348$209$124$30
40 years$850$536$326$193$112$26
41 years$820$510$306$178$102$22
42 years$792$486$287$164$92$19
43 years$765$463$269$152$84$17
44 years$739$441$253$140$76$15
45 years$714$421$237$129$69$13
46 years$691$401$223$120$63$11
47 years$669$383$209$110$57$10
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 $6,588 every year, while hoping to spend $49,067 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: 53/18/29 Blend
60$622,000$622,000$622,000$622,000
61$692,240$659,274$649,633$723,005
62$710,641$639,371$619,188$725,153
63$729,275$616,849$586,080$721,980
64$748,113$591,527$550,166$717,560
65$767,123$563,214$511,299$711,796
66$786,268$531,709$469,325$704,579
67$805,503$496,799$424,083$695,797
68$824,780$458,257$375,405$685,329
69$844,042$415,847$323,116$673,043
70$863,225$369,315$267,032$658,800
71$882,258$318,395$206,961$642,451
72$901,058$262,806$142,704$623,834
73$919,534$202,251$74,052$602,777
74$937,580$136,415$787$579,096
75$955,082$64,968$0$552,591
76$971,907$0$0$546,998
77$987,910$0$0$542,421
78$1,002,926$0$0$550,102
79$1,016,773$0$0$557,066
80$1,029,247$0$0$563,192
81$1,040,118$0$0$568,347
82$1,049,134$0$0$572,379
83$1,056,012$0$0$575,124
84$1,060,436$0$0$576,397
85$1,062,059$0$0$575,991
86$1,060,491$0$0$573,680
87$1,055,302$0$0$569,209
88$1,046,012$0$0$562,298
89$1,032,091$0$0$552,635
90$1,012,951$0$0$539,876
91$987,940$0$0$523,638
92$956,335$0$0$503,497
93$917,337$0$0$478,985
94$870,060$0$0$449,584
95$813,523$0$0$414,718
96$746,644$0$0$373,753
97$668,222$0$0$325,986
98$576,933$0$0$270,642
99$471,309$0$0$206,862
100$349,730$0$0$133,698