Can I retire at age 61 with 629,000?

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 $629,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.7%
1 years$51,942$51,480$51,028$50,588$50,157$48,591
2 years$25,714$25,235$24,771$24,321$23,884$22,320
3 years$16,972$16,491$16,028$15,583$15,153$13,640
4 years$12,602$12,123$11,665$11,226$10,807$9,357
5 years$9,981$9,505$9,052$8,623$8,216$6,832
6 years$8,234$7,761$7,316$6,896$6,501$5,185
7 years$6,987$6,518$6,079$5,669$5,287$4,039
8 years$6,052$5,587$5,156$4,756$4,386$3,205
9 years$5,325$4,864$4,441$4,051$3,694$2,579
10 years$4,744$4,288$3,871$3,492$3,147$2,097
11 years$4,269$3,817$3,408$3,039$2,707$1,718
12 years$3,873$3,426$3,025$2,666$2,346$1,417
13 years$3,538$3,096$2,702$2,353$2,045$1,175
14 years$3,252$2,814$2,428$2,089$1,793$978
15 years$3,004$2,571$2,192$1,863$1,579$817
16 years$2,787$2,359$1,988$1,668$1,395$684
17 years$2,596$2,172$1,809$1,499$1,237$575
18 years$2,426$2,007$1,651$1,351$1,100$483
19 years$2,274$1,860$1,511$1,221$980$407
20 years$2,138$1,729$1,387$1,105$876$344
21 years$2,015$1,610$1,276$1,003$784$290
22 years$1,903$1,503$1,176$912$702$245
23 years$1,801$1,406$1,086$831$631$208
24 years$1,707$1,317$1,004$758$567$176
25 years$1,622$1,236$930$692$510$149
26 years$1,543$1,162$863$633$459$126
27 years$1,470$1,093$801$579$414$107
28 years$1,402$1,030$745$531$374$91
29 years$1,339$972$693$487$337$77
30 years$1,280$918$645$447$305$65
31 years$1,226$868$602$410$276$55
32 years$1,174$821$561$377$249$47
33 years$1,126$778$524$347$226$40
34 years$1,081$737$490$319$204$34
35 years$1,039$699$458$294$185$29
36 years$999$663$428$270$168$24
37 years$961$630$401$249$152$21
38 years$926$599$375$230$138$18
39 years$892$569$352$212$125$15
40 years$860$542$330$195$113$13
41 years$830$516$309$180$103$11
42 years$801$491$290$166$93$9
43 years$773$468$272$153$85$8
44 years$747$446$255$142$77$7
45 years$722$425$240$131$70$6
46 years$699$406$225$121$63$5
47 years$676$387$212$112$58$4
48 years$655$370$199$103$52$3
49 years$634$353$187$95$47$3
50 years$614$337$176$88$43$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $629,000, adding $6,775 every year, while hoping to spend $45,088 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: 65/15/20 Blend
60$629,000$629,000$629,000$629,000
61$700,146$666,809$657,060$741,690
62$723,588$651,510$631,098$755,124
63$747,910$633,949$602,755$764,045
64$773,153$613,970$571,905$772,732
65$799,364$591,403$538,412$781,162
66$826,589$566,072$502,140$789,313
67$854,881$537,789$462,941$797,164
68$884,294$506,356$420,664$804,689
69$914,887$471,562$375,152$811,867
70$946,722$433,186$326,236$818,672
71$979,869$390,993$273,746$825,082
72$1,014,398$344,734$217,499$831,071
73$1,050,389$294,149$157,308$836,615
74$1,087,925$238,959$92,974$841,691
75$1,127,098$178,872$24,293$846,276
76$1,168,004$113,579$0$850,345
77$1,210,750$42,754$0$864,336
78$1,255,450$0$0$883,982
79$1,302,228$0$0$909,727
80$1,351,216$0$0$944,091
81$1,402,560$0$0$980,120
82$1,456,418$0$0$1,017,925
83$1,512,958$0$0$1,057,628
84$1,572,368$0$0$1,099,360
85$1,634,847$0$0$1,143,266
86$1,700,616$0$0$1,189,501
87$1,769,911$0$0$1,238,235
88$1,842,994$0$0$1,289,654
89$1,920,147$0$0$1,343,958
90$2,001,677$0$0$1,401,368
91$2,087,923$0$0$1,462,124
92$2,179,251$0$0$1,526,488
93$2,276,063$0$0$1,594,748
94$2,378,798$0$0$1,667,215
95$2,487,934$0$0$1,744,233
96$2,603,997$0$0$1,826,176
97$2,727,561$0$0$1,913,454
98$2,859,254$0$0$2,006,516
99$2,999,764$0$0$2,105,855
100$3,149,846$0$0$2,212,007