Can I retire at age 61 with 640,000?

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 $640,000?

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 years$52,851$52,380$51,921$51,472$51,034$50,189
2 years$26,164$25,676$25,204$24,746$24,302$23,453
3 years$17,269$16,780$16,309$15,855$15,418$14,592
4 years$12,823$12,335$11,869$11,423$10,996$10,199
5 years$10,156$9,671$9,211$8,774$8,359$7,593
6 years$8,378$7,897$7,443$7,016$6,614$5,880
7 years$7,109$6,632$6,186$5,769$5,379$4,677
8 years$6,158$5,685$5,246$4,839$4,463$3,793
9 years$5,418$4,950$4,518$4,122$3,758$3,120
10 years$4,827$4,363$3,939$3,553$3,202$2,595
11 years$4,343$3,884$3,468$3,092$2,754$2,178
12 years$3,941$3,486$3,078$2,712$2,387$1,840
13 years$3,600$3,150$2,750$2,395$2,081$1,564
14 years$3,309$2,864$2,471$2,126$1,824$1,335
15 years$3,056$2,616$2,231$1,896$1,606$1,145
16 years$2,835$2,400$2,022$1,697$1,420$984
17 years$2,641$2,210$1,840$1,525$1,259$849
18 years$2,468$2,042$1,680$1,374$1,119$734
19 years$2,314$1,893$1,538$1,242$998$636
20 years$2,175$1,759$1,411$1,125$891$551
21 years$2,050$1,638$1,298$1,021$797$479
22 years$1,936$1,529$1,197$928$715$417
23 years$1,832$1,430$1,105$845$642$363
24 years$1,737$1,340$1,022$771$577$316
25 years$1,650$1,258$946$704$519$276
26 years$1,570$1,182$878$644$467$241
27 years$1,495$1,112$815$589$421$210
28 years$1,426$1,048$758$540$380$184
29 years$1,362$989$705$495$343$161
30 years$1,303$934$657$454$310$141
31 years$1,247$883$612$417$280$123
32 years$1,195$835$571$384$254$108
33 years$1,146$791$533$353$230$94
34 years$1,100$750$498$324$208$83
35 years$1,057$711$466$299$188$72
36 years$1,016$675$436$275$171$63
37 years$978$641$408$253$155$56
38 years$942$609$382$234$140$49
39 years$908$579$358$215$127$43
40 years$875$551$335$199$115$37
41 years$844$525$315$183$105$33
42 years$815$500$295$169$95$29
43 years$787$476$277$156$86$25
44 years$760$454$260$144$78$22
45 years$735$433$244$133$71$19
46 years$711$413$229$123$64$17
47 years$688$394$215$114$59$15
48 years$666$376$202$105$53$13
49 years$645$359$190$97$48$11
50 years$625$343$179$90$44$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $640,000, adding $3,643 every year, while hoping to spend $56,225 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: 66/19/15 Blend
60$640,000$640,000$640,000$640,000
61$709,038$675,118$665,198$753,071
62$721,537$648,376$627,659$756,203
63$733,426$618,439$586,978$752,731
64$744,584$585,091$542,991$747,540
65$754,876$548,104$495,525$740,459
66$764,149$507,237$444,400$731,301
67$772,234$462,234$389,430$719,865
68$778,944$412,825$330,418$705,929
69$784,068$358,726$267,159$689,252
70$787,374$299,634$199,439$669,571
71$788,601$235,231$127,036$646,601
72$787,463$165,182$49,716$620,028
73$783,639$89,131$0$589,513
74$776,775$6,702$0$559,931
75$766,476$0$0$534,461
76$752,306$0$0$521,985
77$733,782$0$0$507,719
78$710,368$0$0$489,872
79$681,471$0$0$468,010
80$646,433$0$0$441,656
81$604,529$0$0$410,280
82$554,953$0$0$373,296
83$496,816$0$0$330,056
84$429,135$0$0$279,845
85$350,823$0$0$221,870
86$260,676$0$0$155,256
87$157,368$0$0$79,037
88$39,431$0$0$0
89$0$0$0$0
90$0$0$0$0
91$0$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0