Can I retire at age 61 with 647,000?

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 $647,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$53,429$52,953$52,488$52,035$51,593$51,311
2 years$26,450$25,957$25,480$25,017$24,568$24,283
3 years$17,458$16,963$16,487$16,029$15,587$15,309
4 years$12,963$12,470$11,998$11,548$11,117$10,847
5 years$10,267$9,777$9,311$8,870$8,451$8,190
6 years$8,470$7,983$7,525$7,093$6,687$6,436
7 years$7,187$6,704$6,253$5,832$5,438$5,197
8 years$6,225$5,747$5,303$4,892$4,511$4,280
9 years$5,477$5,004$4,568$4,167$3,799$3,577
10 years$4,879$4,410$3,982$3,592$3,237$3,024
11 years$4,391$3,926$3,506$3,126$2,784$2,581
12 years$3,984$3,524$3,111$2,742$2,413$2,218
13 years$3,639$3,185$2,780$2,421$2,104$1,919
14 years$3,345$2,895$2,498$2,149$1,844$1,668
15 years$3,090$2,645$2,255$1,916$1,624$1,456
16 years$2,866$2,426$2,045$1,716$1,435$1,276
17 years$2,670$2,235$1,860$1,542$1,272$1,121
18 years$2,495$2,065$1,698$1,389$1,131$988
19 years$2,339$1,914$1,555$1,255$1,008$872
20 years$2,199$1,778$1,427$1,137$901$772
21 years$2,072$1,656$1,312$1,032$806$684
22 years$1,957$1,546$1,210$938$723$608
23 years$1,852$1,446$1,117$855$649$540
24 years$1,756$1,355$1,033$779$583$481
25 years$1,668$1,271$957$712$525$428
26 years$1,587$1,195$887$651$473$382
27 years$1,512$1,125$824$596$426$341
28 years$1,442$1,060$766$546$384$305
29 years$1,377$1,000$713$501$347$272
30 years$1,317$944$664$459$314$243
31 years$1,261$893$619$422$284$218
32 years$1,208$845$577$388$257$195
33 years$1,159$800$539$357$232$175
34 years$1,112$758$504$328$210$156
35 years$1,069$719$471$302$190$140
36 years$1,028$682$441$278$172$126
37 years$989$648$412$256$156$113
38 years$952$616$386$236$142$101
39 years$917$586$362$218$129$91
40 years$885$557$339$201$117$81
41 years$853$530$318$185$106$73
42 years$824$505$298$171$96$65
43 years$796$481$280$158$87$59
44 years$769$459$263$146$79$53
45 years$743$438$247$135$72$47
46 years$719$417$232$124$65$42
47 years$696$398$218$115$59$38
48 years$673$380$205$106$54$34
49 years$652$363$192$98$49$31
50 years$632$347$181$91$44$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $647,000, adding $2,910 every year, while hoping to spend $29,194 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: 44/33/23 Blend
60$647,000$647,000$647,000$647,000
61$715,996$681,705$671,676$742,612
62$757,965$684,046$663,115$764,080
63$803,237$685,524$653,289$784,274
64$852,117$686,064$642,124$805,578
65$904,942$685,590$629,544$828,109
66$962,081$684,020$615,469$851,999
67$1,023,941$681,264$599,815$877,394
68$1,090,968$677,231$582,493$904,459
69$1,163,653$671,821$563,413$933,376
70$1,242,536$664,931$542,478$964,347
71$1,328,211$656,449$519,588$997,598
72$1,421,332$646,258$494,637$1,033,381
73$1,522,616$634,234$467,516$1,071,974
74$1,632,856$620,244$438,111$1,113,689
75$1,752,920$604,149$406,300$1,158,870
76$1,883,767$585,801$371,960$1,207,901
77$2,026,449$565,043$334,959$1,261,208
78$2,182,127$541,710$295,160$1,319,262
79$2,352,077$515,627$252,421$1,382,589
80$2,537,704$486,608$206,592$1,451,771
81$2,740,555$454,457$157,518$1,527,452
82$2,962,332$418,967$105,036$1,610,348
83$3,204,912$379,918$48,977$1,701,253
84$3,470,359$337,079$0$1,801,044
85$3,760,945$290,206$0$1,913,358
86$4,079,174$239,039$0$2,049,611
87$4,427,803$183,304$0$2,199,012
88$4,809,867$122,715$0$2,362,934
89$5,228,710$56,965$0$2,542,892
90$5,688,015$0$0$2,740,559
91$6,191,837$0$0$2,962,966
92$6,744,644$0$0$3,229,772
93$7,351,356$0$0$3,522,676
94$8,017,393$0$0$3,844,306
95$8,748,727$0$0$4,197,556
96$9,551,934$0$0$4,585,612
97$10,434,259$0$0$5,011,987
98$11,403,685$0$0$5,480,550
99$12,469,003$0$0$5,995,562
100$13,639,902$0$0$6,561,719