Can I retire at age 61 with 624,000?

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 $624,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.1%
1 years$51,529$51,070$50,623$50,185$49,759$48,914
2 years$25,510$25,034$24,574$24,128$23,695$22,846
3 years$16,837$16,360$15,901$15,459$15,033$14,207
4 years$12,502$12,027$11,572$11,137$10,722$9,925
5 years$9,902$9,429$8,980$8,554$8,150$7,385
6 years$8,169$7,699$7,257$6,841$6,449$5,716
7 years$6,931$6,466$6,031$5,624$5,245$4,544
8 years$6,004$5,543$5,115$4,718$4,351$3,683
9 years$5,283$4,826$4,405$4,019$3,664$3,028
10 years$4,706$4,254$3,841$3,464$3,122$2,517
11 years$4,235$3,787$3,381$3,015$2,685$2,111
12 years$3,842$3,399$3,001$2,645$2,327$1,783
13 years$3,510$3,072$2,681$2,335$2,029$1,514
14 years$3,226$2,792$2,409$2,073$1,779$1,292
15 years$2,980$2,551$2,175$1,848$1,566$1,107
16 years$2,765$2,340$1,972$1,655$1,384$951
17 years$2,575$2,155$1,794$1,487$1,227$820
18 years$2,407$1,991$1,638$1,340$1,091$708
19 years$2,256$1,846$1,499$1,211$973$613
20 years$2,121$1,715$1,376$1,097$869$531
21 years$1,999$1,597$1,266$995$777$461
22 years$1,888$1,491$1,167$905$697$401
23 years$1,786$1,395$1,077$824$626$349
24 years$1,694$1,307$996$752$562$304
25 years$1,609$1,226$923$686$506$265
26 years$1,530$1,153$856$628$456$231
27 years$1,458$1,085$795$575$411$202
28 years$1,391$1,022$739$526$371$176
29 years$1,328$964$687$483$335$154
30 years$1,270$911$640$443$302$134
31 years$1,216$861$597$407$273$118
32 years$1,165$814$557$374$247$103
33 years$1,117$771$520$344$224$90
34 years$1,073$731$486$316$203$79
35 years$1,031$693$454$291$184$69
36 years$991$658$425$268$166$60
37 years$954$625$398$247$151$53
38 years$918$594$372$228$137$46
39 years$885$565$349$210$124$40
40 years$853$537$327$194$112$35
41 years$823$512$307$179$102$31
42 years$794$487$288$165$93$27
43 years$767$464$270$152$84$24
44 years$741$443$253$141$76$21
45 years$717$422$238$130$69$18
46 years$693$403$223$120$63$16
47 years$671$384$210$111$57$14
48 years$649$367$197$102$52$12
49 years$629$350$185$95$47$11
50 years$609$335$174$87$43$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $624,000, adding $2,100 every year, while hoping to spend $26,194 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: 60/32/8 Blend
60$624,000$624,000$624,000$624,000
61$689,814$656,742$647,070$729,888
62$732,305$661,052$640,877$761,307
63$778,252$664,696$633,598$792,378
64$827,980$667,612$625,170$825,613
65$881,846$669,737$615,525$861,219
66$940,243$671,003$604,594$899,429
67$1,003,603$671,337$592,303$940,498
68$1,072,400$670,662$578,575$984,706
69$1,147,157$668,897$563,329$1,032,367
70$1,228,448$665,954$546,482$1,083,823
71$1,316,906$661,742$527,945$1,139,454
72$1,413,227$656,164$507,627$1,199,681
73$1,518,174$649,114$485,431$1,264,966
74$1,632,592$640,484$461,257$1,335,821
75$1,757,406$630,158$434,999$1,412,813
76$1,893,638$618,012$406,548$1,496,564
77$2,042,410$603,916$375,788$1,587,765
78$2,204,958$587,730$342,600$1,687,176
79$2,382,645$569,310$306,858$1,795,639
80$2,576,968$548,500$268,431$1,914,081
81$2,789,578$525,136$227,183$2,043,527
82$3,022,292$499,044$182,970$2,185,110
83$3,277,110$470,041$135,644$2,340,077
84$3,556,236$437,934$85,049$2,509,807
85$3,862,095$402,516$31,021$2,695,824
86$4,197,361$363,571$0$2,899,806
87$4,564,976$320,870$0$3,125,883
88$4,968,181$274,170$0$3,376,800
89$5,410,547$223,216$0$3,652,182
90$5,896,005$167,737$0$3,954,537
91$6,428,889$107,447$0$4,286,635
92$7,013,968$42,045$0$4,651,529
93$7,656,500$0$0$5,052,587
94$8,362,274$0$0$5,503,661
95$9,137,668$0$0$6,015,550
96$9,989,710$0$0$6,578,092
97$10,926,139$0$0$7,196,405
98$11,955,485$0$0$7,876,128
99$13,087,143$0$0$8,623,472
100$14,331,464$0$0$9,445,280