Can I retire at age 61 with 623,000?

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 $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%16.1%
1 years$51,447$50,988$50,541$50,105$49,679$48,439
2 years$25,469$24,994$24,535$24,089$23,657$22,415
3 years$16,810$16,334$15,876$15,434$15,009$13,804
4 years$12,482$12,007$11,553$11,119$10,704$9,547
5 years$9,886$9,414$8,966$8,541$8,137$7,030
6 years$8,156$7,687$7,246$6,830$6,439$5,382
7 years$6,920$6,456$6,021$5,615$5,236$4,231
8 years$5,994$5,534$5,106$4,711$4,344$3,389
9 years$5,274$4,818$4,398$4,012$3,658$2,753
10 years$4,698$4,247$3,834$3,459$3,117$2,261
11 years$4,228$3,781$3,376$3,010$2,681$1,872
12 years$3,836$3,393$2,996$2,640$2,323$1,560
13 years$3,504$3,067$2,677$2,331$2,026$1,308
14 years$3,221$2,787$2,405$2,069$1,776$1,101
15 years$2,975$2,546$2,171$1,845$1,564$930
16 years$2,760$2,336$1,969$1,652$1,382$788
17 years$2,571$2,152$1,791$1,485$1,225$669
18 years$2,403$1,988$1,635$1,338$1,089$570
19 years$2,252$1,843$1,497$1,209$971$486
20 years$2,117$1,712$1,374$1,095$867$415
21 years$1,995$1,595$1,264$994$776$355
22 years$1,885$1,489$1,165$903$696$304
23 years$1,784$1,392$1,075$823$625$260
24 years$1,691$1,305$995$750$561$223
25 years$1,606$1,224$921$685$505$191
26 years$1,528$1,151$854$627$455$164
27 years$1,456$1,083$793$574$410$141
28 years$1,389$1,020$738$526$370$121
29 years$1,326$963$686$482$334$104
30 years$1,268$909$639$442$302$90
31 years$1,214$859$596$406$273$77
32 years$1,163$813$556$373$247$66
33 years$1,116$770$519$343$224$57
34 years$1,071$730$485$316$202$49
35 years$1,029$692$454$291$183$42
36 years$989$657$424$268$166$36
37 years$952$624$397$247$151$31
38 years$917$593$372$227$136$27
39 years$883$564$348$210$124$23
40 years$852$537$327$193$112$20
41 years$822$511$306$178$102$17
42 years$793$486$287$165$92$15
43 years$766$463$270$152$84$13
44 years$740$442$253$140$76$11
45 years$716$421$238$130$69$9
46 years$692$402$223$120$63$8
47 years$670$384$210$111$57$7
48 years$648$366$197$102$52$6
49 years$628$350$185$94$47$5
50 years$608$334$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 $623,000, adding $4,401 every year, while hoping to spend $23,638 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: 43/39/18 Blend
60$623,000$623,000$623,000$623,000
61$691,086$658,067$648,410$717,010
62$736,426$665,161$644,981$742,808
63$785,598$671,811$640,645$768,078
64$838,969$677,970$635,347$794,958
65$896,941$683,587$629,028$823,610
66$959,956$688,611$621,628$854,208
67$1,028,503$692,983$613,083$886,951
68$1,103,115$696,645$603,327$922,054
69$1,184,384$699,532$592,289$959,757
70$1,272,958$701,575$579,898$1,000,328
71$1,369,551$702,704$566,076$1,044,060
72$1,474,950$702,841$550,743$1,091,280
73$1,590,019$701,904$533,817$1,142,349
74$1,715,710$699,807$515,209$1,197,666
75$1,853,072$696,457$494,829$1,257,675
76$2,003,260$691,758$472,580$1,322,863
77$2,167,544$685,605$448,363$1,393,773
78$2,347,323$677,890$422,073$1,471,003
79$2,544,139$668,495$393,601$1,555,215
80$2,759,687$657,298$362,833$1,647,143
81$2,995,837$644,167$329,650$1,747,596
82$3,254,646$628,965$293,926$1,857,468
83$3,538,381$611,544$255,533$1,977,751
84$3,849,536$591,751$214,335$2,109,539
85$4,190,863$569,420$170,189$2,254,039
86$4,565,387$544,379$122,947$2,412,590
87$4,976,446$516,442$72,454$2,586,667
88$5,427,712$485,417$18,550$2,777,902
89$5,923,233$451,096$0$2,988,098
90$6,467,467$413,264$0$3,226,730
91$7,065,325$371,690$0$3,492,802
92$7,722,216$326,132$0$3,785,210
93$8,444,102$276,332$0$4,106,674
94$9,237,548$222,020$0$4,460,194
95$10,109,789$162,909$0$4,849,081
96$11,068,793$98,697$0$5,276,987
97$12,123,341$29,065$0$5,747,942
98$13,283,108$0$0$6,266,392
99$14,558,751$0$0$6,857,122
100$15,962,014$0$0$7,520,758