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%18.6%
1 years$51,942$51,480$51,028$50,588$50,157$48,416
2 years$25,714$25,235$24,771$24,321$23,884$22,148
3 years$16,972$16,491$16,028$15,583$15,153$13,477
4 years$12,602$12,123$11,665$11,226$10,807$9,203
5 years$9,981$9,505$9,052$8,623$8,216$6,688
6 years$8,234$7,761$7,316$6,896$6,501$5,051
7 years$6,987$6,518$6,079$5,669$5,287$3,914
8 years$6,052$5,587$5,156$4,756$4,386$3,090
9 years$5,325$4,864$4,441$4,051$3,694$2,472
10 years$4,744$4,288$3,871$3,492$3,147$1,998
11 years$4,269$3,817$3,408$3,039$2,707$1,628
12 years$3,873$3,426$3,025$2,666$2,346$1,335
13 years$3,538$3,096$2,702$2,353$2,045$1,100
14 years$3,252$2,814$2,428$2,089$1,793$910
15 years$3,004$2,571$2,192$1,863$1,579$755
16 years$2,787$2,359$1,988$1,668$1,395$629
17 years$2,596$2,172$1,809$1,499$1,237$524
18 years$2,426$2,007$1,651$1,351$1,100$438
19 years$2,274$1,860$1,511$1,221$980$367
20 years$2,138$1,729$1,387$1,105$876$307
21 years$2,015$1,610$1,276$1,003$784$258
22 years$1,903$1,503$1,176$912$702$216
23 years$1,801$1,406$1,086$831$631$182
24 years$1,707$1,317$1,004$758$567$153
25 years$1,622$1,236$930$692$510$128
26 years$1,543$1,162$863$633$459$108
27 years$1,470$1,093$801$579$414$91
28 years$1,402$1,030$745$531$374$77
29 years$1,339$972$693$487$337$64
30 years$1,280$918$645$447$305$54
31 years$1,226$868$602$410$276$46
32 years$1,174$821$561$377$249$39
33 years$1,126$778$524$347$226$32
34 years$1,081$737$490$319$204$27
35 years$1,039$699$458$294$185$23
36 years$999$663$428$270$168$19
37 years$961$630$401$249$152$16
38 years$926$599$375$230$138$14
39 years$892$569$352$212$125$12
40 years$860$542$330$195$113$10
41 years$830$516$309$180$103$8
42 years$801$491$290$166$93$7
43 years$773$468$272$153$85$6
44 years$747$446$255$142$77$5
45 years$722$425$240$131$70$4
46 years$699$406$225$121$63$4
47 years$676$387$212$112$58$3
48 years$655$370$199$103$52$3
49 years$634$353$187$95$47$2
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 $2,004 every year, while hoping to spend $35,609 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: 50/31/19 Blend
60$629,000$629,000$629,000$629,000
61$695,225$661,888$652,139$726,216
62$728,250$656,433$636,098$742,388
63$763,451$649,517$618,326$756,131
64$801,011$641,031$598,727$770,308
65$841,132$630,860$577,203$784,972
66$884,035$618,880$553,647$800,186
67$929,964$604,962$527,951$816,019
68$979,183$588,968$500,001$832,551
69$1,031,986$570,754$469,677$849,871
70$1,088,691$550,164$436,854$868,083
71$1,149,651$527,035$401,402$887,300
72$1,215,251$501,195$363,185$907,653
73$1,285,915$472,462$322,060$929,287
74$1,362,108$440,643$277,878$952,368
75$1,444,341$405,532$230,485$977,080
76$1,533,176$366,915$179,718$1,003,631
77$1,629,230$324,563$125,408$1,032,253
78$1,733,180$278,236$67,379$1,063,208
79$1,845,773$227,679$5,445$1,096,786
80$1,967,829$172,622$0$1,133,316
81$2,100,249$112,781$0$1,185,456
82$2,244,024$47,857$0$1,243,297
83$2,400,245$0$0$1,306,231
84$2,570,111$0$0$1,382,475
85$2,754,943$0$0$1,483,257
86$2,956,191$0$0$1,593,051
87$3,175,455$0$0$1,712,738
88$3,414,493$0$0$1,843,284
89$3,675,239$0$0$1,985,755
90$3,959,824$0$0$2,141,323
91$4,270,592$0$0$2,311,279
92$4,610,125$0$0$2,497,045
93$4,981,265$0$0$2,700,184
94$5,387,139$0$0$2,922,419
95$5,831,193$0$0$3,165,647
96$6,317,219$0$0$3,431,956
97$6,849,394$0$0$3,723,646
98$7,432,316$0$0$4,043,250
99$8,071,052$0$0$4,393,557
100$8,771,180$0$0$4,777,639