Can I retire at age 61 with 624,000?

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 $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%15.1%
1 years$51,529$51,070$50,623$50,185$49,759$48,714
2 years$25,510$25,034$24,574$24,128$23,695$22,647
3 years$16,837$16,360$15,901$15,459$15,033$14,015
4 years$12,502$12,027$11,572$11,137$10,722$9,742
5 years$9,902$9,429$8,980$8,554$8,150$7,211
6 years$8,169$7,699$7,257$6,841$6,449$5,551
7 years$6,931$6,466$6,031$5,624$5,245$4,388
8 years$6,004$5,543$5,115$4,718$4,351$3,536
9 years$5,283$4,826$4,405$4,019$3,664$2,890
10 years$4,706$4,254$3,841$3,464$3,122$2,388
11 years$4,235$3,787$3,381$3,015$2,685$1,990
12 years$3,842$3,399$3,001$2,645$2,327$1,669
13 years$3,510$3,072$2,681$2,335$2,029$1,408
14 years$3,226$2,792$2,409$2,073$1,779$1,194
15 years$2,980$2,551$2,175$1,848$1,566$1,015
16 years$2,765$2,340$1,972$1,655$1,384$867
17 years$2,575$2,155$1,794$1,487$1,227$741
18 years$2,407$1,991$1,638$1,340$1,091$636
19 years$2,256$1,846$1,499$1,211$973$546
20 years$2,121$1,715$1,376$1,097$869$470
21 years$1,999$1,597$1,266$995$777$405
22 years$1,888$1,491$1,167$905$697$349
23 years$1,786$1,395$1,077$824$626$302
24 years$1,694$1,307$996$752$562$261
25 years$1,609$1,226$923$686$506$225
26 years$1,530$1,153$856$628$456$195
27 years$1,458$1,085$795$575$411$169
28 years$1,391$1,022$739$526$371$146
29 years$1,328$964$687$483$335$127
30 years$1,270$911$640$443$302$110
31 years$1,216$861$597$407$273$95
32 years$1,165$814$557$374$247$83
33 years$1,117$771$520$344$224$72
34 years$1,073$731$486$316$203$62
35 years$1,031$693$454$291$184$54
36 years$991$658$425$268$166$47
37 years$954$625$398$247$151$41
38 years$918$594$372$228$137$35
39 years$885$565$349$210$124$31
40 years$853$537$327$194$112$27
41 years$823$512$307$179$102$23
42 years$794$487$288$165$93$20
43 years$767$464$270$152$84$17
44 years$741$443$253$141$76$15
45 years$717$422$238$130$69$13
46 years$693$403$223$120$63$11
47 years$671$384$210$111$57$10
48 years$649$367$197$102$52$9
49 years$629$350$185$95$47$7
50 years$609$335$174$87$43$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $624,000, adding $4,871 every year, while hoping to spend $49,823 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: 73/11/16 Blend
60$624,000$624,000$624,000$624,000
61$692,672$659,600$649,928$740,383
62$710,314$638,910$618,690$751,966
63$728,085$615,535$584,735$758,093
64$745,946$589,293$547,920$763,492
65$763,852$559,988$508,095$768,081
66$781,752$527,414$465,103$771,769
67$799,587$491,354$418,780$774,457
68$817,291$451,577$368,956$776,037
69$834,790$407,839$315,452$776,392
70$852,000$359,884$258,080$775,392
71$868,824$307,439$196,646$772,898
72$885,157$250,216$130,946$768,759
73$900,879$187,913$60,769$762,807
74$915,856$120,208$0$754,861
75$929,937$46,762$0$747,134
76$942,956$0$0$748,229
77$954,725$0$0$751,532
78$965,036$0$0$759,307
79$973,655$0$0$765,704
80$980,324$0$0$770,516
81$984,756$0$0$773,510
82$986,629$0$0$774,429
83$985,588$0$0$772,984
84$981,238$0$0$768,859
85$973,141$0$0$761,699
86$960,811$0$0$751,113
87$943,707$0$0$736,667
88$921,233$0$0$717,878
89$892,726$0$0$694,215
90$857,454$0$0$665,085
91$814,605$0$0$629,837
92$763,281$0$0$587,746
93$702,487$0$0$538,012
94$631,125$0$0$479,750
95$547,979$0$0$411,981
96$451,705$0$0$333,624
97$340,819$0$0$243,483
98$213,677$0$0$140,236
99$68,467$0$0$22,423
100$0$0$0$0