Can I retire at age 61 with 623,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $623,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$51,447$50,988$50,541$50,105$49,679$49,407
2 years$25,469$24,994$24,535$24,089$23,657$23,383
3 years$16,810$16,334$15,876$15,434$15,009$14,741
4 years$12,482$12,007$11,553$11,119$10,704$10,444
5 years$9,886$9,414$8,966$8,541$8,137$7,886
6 years$8,156$7,687$7,246$6,830$6,439$6,197
7 years$6,920$6,456$6,021$5,615$5,236$5,004
8 years$5,994$5,534$5,106$4,711$4,344$4,121
9 years$5,274$4,818$4,398$4,012$3,658$3,444
10 years$4,698$4,247$3,834$3,459$3,117$2,912
11 years$4,228$3,781$3,376$3,010$2,681$2,485
12 years$3,836$3,393$2,996$2,640$2,323$2,136
13 years$3,504$3,067$2,677$2,331$2,026$1,847
14 years$3,221$2,787$2,405$2,069$1,776$1,606
15 years$2,975$2,546$2,171$1,845$1,564$1,402
16 years$2,760$2,336$1,969$1,652$1,382$1,228
17 years$2,571$2,152$1,791$1,485$1,225$1,079
18 years$2,403$1,988$1,635$1,338$1,089$951
19 years$2,252$1,843$1,497$1,209$971$840
20 years$2,117$1,712$1,374$1,095$867$743
21 years$1,995$1,595$1,264$994$776$659
22 years$1,885$1,489$1,165$903$696$585
23 years$1,784$1,392$1,075$823$625$520
24 years$1,691$1,305$995$750$561$463
25 years$1,606$1,224$921$685$505$413
26 years$1,528$1,151$854$627$455$368
27 years$1,456$1,083$793$574$410$328
28 years$1,389$1,020$738$526$370$293
29 years$1,326$963$686$482$334$262
30 years$1,268$909$639$442$302$234
31 years$1,214$859$596$406$273$210
32 years$1,163$813$556$373$247$188
33 years$1,116$770$519$343$224$168
34 years$1,071$730$485$316$202$151
35 years$1,029$692$454$291$183$135
36 years$989$657$424$268$166$121
37 years$952$624$397$247$151$108
38 years$917$593$372$227$136$97
39 years$883$564$348$210$124$87
40 years$852$537$327$193$112$78
41 years$822$511$306$178$102$70
42 years$793$486$287$165$92$63
43 years$766$463$270$152$84$56
44 years$740$442$253$140$76$51
45 years$716$421$238$130$69$46
46 years$692$402$223$120$63$41
47 years$670$384$210$111$57$37
48 years$648$366$197$102$52$33
49 years$628$350$185$94$47$30
50 years$608$334$174$87$43$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $623,000, adding $6,996 every year, while hoping to spend $34,286 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: 33/41/26 Blend
60$623,000$623,000$623,000$623,000
61$693,762$660,743$651,087$710,976
62$728,046$656,640$636,418$720,466
63$764,678$651,186$620,109$727,131
64$803,860$644,280$602,068$733,636
65$845,817$635,812$582,200$739,990
66$890,792$625,669$560,406$746,205
67$939,053$613,727$536,580$752,299
68$990,896$599,859$510,615$758,294
69$1,046,642$583,927$482,395$764,218
70$1,106,647$565,786$451,802$770,106
71$1,171,299$545,284$418,712$776,000
72$1,241,027$522,258$382,994$781,951
73$1,316,299$496,537$344,513$788,020
74$1,397,634$467,939$303,126$794,278
75$1,485,597$436,273$258,685$800,810
76$1,580,813$401,335$211,036$807,714
77$1,683,967$362,912$160,017$815,102
78$1,795,813$320,775$105,458$823,108
79$1,917,180$274,687$47,185$831,881
80$2,048,979$224,394$0$841,596
81$2,192,213$169,628$0$856,612
82$2,347,986$110,107$0$887,234
83$2,517,511$45,532$0$920,670
84$2,702,124$0$0$957,270
85$2,903,293$0$0$1,008,438
86$3,122,637$0$0$1,086,712
87$3,361,935$0$0$1,172,196
88$3,623,146$0$0$1,265,600
89$3,908,427$0$0$1,367,708
90$4,220,152$0$0$1,479,380
91$4,560,934$0$0$1,601,567
92$4,933,651$0$0$1,735,312
93$5,341,472$0$0$1,881,766
94$5,787,885$0$0$2,042,196
95$6,276,732$0$0$2,217,997
96$6,812,244$0$0$2,410,706
97$7,399,079$0$0$2,622,016
98$8,042,369$0$0$2,853,790
99$8,747,765$0$0$3,108,081
100$9,521,492$0$0$3,387,150