Can I retire at age 61 with 642,000?

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 $642,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.2%
1 years$53,016$52,544$52,083$51,633$51,194$50,099
2 years$26,245$25,757$25,283$24,824$24,378$23,280
3 years$17,323$16,832$16,360$15,905$15,466$14,400
4 years$12,863$12,373$11,906$11,458$11,031$10,004
5 years$10,187$9,701$9,239$8,801$8,385$7,401
6 years$8,404$7,922$7,467$7,038$6,635$5,694
7 years$7,131$6,653$6,205$5,787$5,396$4,499
8 years$6,177$5,702$5,262$4,854$4,477$3,623
9 years$5,435$4,965$4,532$4,135$3,770$2,959
10 years$4,842$4,376$3,951$3,564$3,212$2,443
11 years$4,357$3,896$3,479$3,102$2,763$2,035
12 years$3,953$3,497$3,087$2,721$2,394$1,706
13 years$3,611$3,160$2,758$2,402$2,088$1,439
14 years$3,319$2,873$2,478$2,132$1,830$1,218
15 years$3,066$2,624$2,238$1,902$1,611$1,036
16 years$2,844$2,408$2,029$1,703$1,424$883
17 years$2,649$2,217$1,846$1,530$1,263$755
18 years$2,476$2,049$1,685$1,379$1,123$647
19 years$2,321$1,899$1,543$1,246$1,001$555
20 years$2,182$1,765$1,416$1,128$894$478
21 years$2,056$1,644$1,302$1,024$800$411
22 years$1,942$1,534$1,200$931$717$354
23 years$1,838$1,435$1,108$848$644$306
24 years$1,743$1,344$1,025$773$578$264
25 years$1,655$1,262$949$706$521$228
26 years$1,575$1,186$880$646$469$197
27 years$1,500$1,116$818$591$423$171
28 years$1,431$1,052$760$542$381$148
29 years$1,367$992$707$497$344$128
30 years$1,307$937$659$456$311$111
31 years$1,251$886$614$419$281$96
32 years$1,199$838$573$385$255$83
33 years$1,150$794$535$354$230$72
34 years$1,104$752$500$326$209$62
35 years$1,060$713$467$300$189$54
36 years$1,020$677$437$276$171$47
37 years$981$643$409$254$155$41
38 years$945$611$383$234$141$35
39 years$910$581$359$216$128$31
40 years$878$553$337$199$116$27
41 years$847$526$316$184$105$23
42 years$817$501$296$170$95$20
43 years$789$478$278$157$86$17
44 years$763$455$261$145$78$15
45 years$737$434$245$134$71$13
46 years$713$414$230$123$65$11
47 years$690$395$216$114$59$10
48 years$668$377$203$105$53$9
49 years$647$360$191$97$48$7
50 years$627$344$179$90$44$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $642,000, adding $3,751 every year, while hoping to spend $35,796 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: 53/22/25 Blend
60$642,000$642,000$642,000$642,000
61$711,353$677,327$667,376$743,937
62$745,825$672,430$651,647$761,947
63$782,612$666,092$634,190$777,549
64$821,915$658,207$614,912$793,793
65$863,950$648,658$593,711$810,756
66$908,955$637,326$570,483$828,522
67$957,193$624,079$545,119$847,185
68$1,008,951$608,783$517,504$866,852
69$1,064,543$591,292$487,519$887,642
70$1,124,314$571,453$455,039$909,691
71$1,188,644$549,105$419,933$933,149
72$1,257,950$524,075$382,065$958,183
73$1,332,690$496,183$341,293$984,984
74$1,413,365$465,237$297,467$1,013,761
75$1,500,528$431,034$250,433$1,044,751
76$1,594,787$393,359$200,027$1,078,217
77$1,696,808$351,987$146,080$1,114,453
78$1,807,325$306,676$88,416$1,153,786
79$1,927,144$257,175$26,850$1,196,580
80$2,057,151$203,216$0$1,243,243
81$2,198,323$144,516$0$1,304,591
82$2,351,732$80,777$0$1,379,081
83$2,518,557$11,684$0$1,460,159
84$2,700,098$0$0$1,548,506
85$2,897,782$0$0$1,660,149
86$3,113,182$0$0$1,784,937
87$3,348,027$0$0$1,921,050
88$3,604,221$0$0$2,069,600
89$3,883,860$0$0$2,231,808
90$4,189,250$0$0$2,409,021
91$4,522,931$0$0$2,602,721
92$4,887,698$0$0$2,814,541
93$5,286,629$0$0$3,046,275
94$5,723,114$0$0$3,299,903
95$6,200,883$0$0$3,577,603
96$6,724,046$0$0$3,881,773
97$7,297,128$0$0$4,215,055
98$7,925,113$0$0$4,580,358
99$8,613,487$0$0$4,980,886
100$9,368,296$0$0$5,420,167