Can I retire at age 61 with 645,000?

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 $645,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$53,263$52,789$52,326$51,874$51,433$50,960
2 years$26,368$25,877$25,401$24,940$24,492$24,015
3 years$17,404$16,911$16,436$15,979$15,539$15,073
4 years$12,923$12,431$11,961$11,512$11,082$10,631
5 years$10,235$9,746$9,282$8,842$8,425$7,990
6 years$8,444$7,959$7,502$7,071$6,666$6,248
7 years$7,165$6,684$6,234$5,814$5,421$5,020
8 years$6,206$5,729$5,287$4,877$4,498$4,113
9 years$5,460$4,988$4,554$4,154$3,788$3,420
10 years$4,864$4,397$3,970$3,581$3,227$2,876
11 years$4,377$3,914$3,495$3,116$2,775$2,440
12 years$3,971$3,513$3,102$2,734$2,405$2,086
13 years$3,628$3,175$2,771$2,413$2,097$1,794
14 years$3,334$2,886$2,490$2,142$1,839$1,550
15 years$3,080$2,636$2,248$1,911$1,619$1,345
16 years$2,858$2,419$2,038$1,711$1,431$1,171
17 years$2,662$2,228$1,855$1,537$1,269$1,023
18 years$2,488$2,058$1,693$1,385$1,128$896
19 years$2,332$1,908$1,550$1,252$1,005$786
20 years$2,192$1,773$1,422$1,134$898$691
21 years$2,066$1,651$1,308$1,029$804$609
22 years$1,951$1,541$1,206$935$720$537
23 years$1,847$1,442$1,113$852$647$474
24 years$1,751$1,351$1,030$777$581$419
25 years$1,663$1,268$954$710$523$371
26 years$1,582$1,191$885$649$471$328
27 years$1,507$1,121$821$594$425$291
28 years$1,438$1,056$764$544$383$258
29 years$1,373$997$711$499$346$229
30 years$1,313$941$662$458$313$203
31 years$1,257$890$617$421$283$180
32 years$1,204$842$576$387$256$160
33 years$1,155$797$538$355$231$142
34 years$1,109$756$502$327$210$127
35 years$1,065$717$470$301$190$113
36 years$1,024$680$439$277$172$100
37 years$986$646$411$255$156$89
38 years$949$614$385$235$141$79
39 years$915$584$361$217$128$71
40 years$882$556$338$200$116$63
41 years$851$529$317$185$105$56
42 years$821$504$297$171$96$50
43 years$793$480$279$157$87$44
44 years$766$457$262$145$79$40
45 years$741$436$246$134$72$35
46 years$717$416$231$124$65$31
47 years$693$397$217$115$59$28
48 years$671$379$204$106$54$25
49 years$650$362$192$98$49$22
50 years$630$346$180$90$44$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $645,000, adding $6,770 every year, while hoping to spend $38,536 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: 56/29/15 Blend
60$645,000$645,000$645,000$645,000
61$717,773$683,588$673,591$754,797
62$749,984$676,082$655,154$773,197
63$784,189$666,917$634,808$788,462
64$820,550$655,970$612,448$804,206
65$859,246$643,112$587,965$820,485
66$900,472$628,207$561,245$837,357
67$944,441$611,110$532,167$854,894
68$991,386$591,666$500,606$873,172
69$1,041,563$569,714$466,433$892,281
70$1,095,254$545,082$429,510$912,320
71$1,152,767$517,587$389,695$933,402
72$1,214,438$487,038$346,839$955,654
73$1,280,638$453,230$300,786$979,218
74$1,351,775$415,950$251,373$1,004,255
75$1,428,293$374,969$198,432$1,030,945
76$1,510,683$330,046$141,783$1,059,489
77$1,599,483$280,929$81,244$1,090,115
78$1,695,284$227,348$16,619$1,123,074
79$1,798,736$169,021$0$1,158,651
80$1,910,551$105,647$0$1,205,541
81$2,031,514$36,911$0$1,259,102
82$2,162,488$0$0$1,317,102
83$2,304,419$0$0$1,391,992
84$2,458,349$0$0$1,486,037
85$2,625,426$0$0$1,588,165
86$2,806,908$0$0$1,699,152
87$3,004,182$0$0$1,819,853
88$3,218,775$0$0$1,951,209
89$3,452,363$0$0$2,094,253
90$3,706,793$0$0$2,250,124
91$3,984,097$0$0$2,420,076
92$4,286,511$0$0$2,605,486
93$4,616,496$0$0$2,807,873
94$4,976,762$0$0$3,028,906
95$5,370,291$0$0$3,270,427
96$5,800,365$0$0$3,534,458
97$6,270,600$0$0$3,823,230
98$6,784,974$0$0$4,139,196
99$7,347,870$0$0$4,485,060
100$7,964,112$0$0$4,863,798