Can I retire at age 61 with 651,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $651,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$53,759$53,280$52,813$52,357$51,912$51,073
2 years$26,613$26,118$25,637$25,172$24,720$23,877
3 years$17,566$17,068$16,589$16,128$15,683$14,863
4 years$13,043$12,547$12,073$11,619$11,185$10,393
5 years$10,330$9,837$9,369$8,925$8,503$7,742
6 years$8,522$8,033$7,571$7,137$6,728$5,999
7 years$7,231$6,746$6,292$5,868$5,472$4,774
8 years$6,263$5,782$5,336$4,922$4,539$3,874
9 years$5,511$5,035$4,596$4,193$3,823$3,189
10 years$4,910$4,438$4,007$3,614$3,257$2,654
11 years$4,418$3,951$3,528$3,145$2,801$2,228
12 years$4,008$3,546$3,131$2,759$2,428$1,884
13 years$3,662$3,204$2,797$2,436$2,117$1,602
14 years$3,365$2,913$2,513$2,162$1,856$1,369
15 years$3,109$2,661$2,269$1,928$1,634$1,174
16 years$2,884$2,441$2,057$1,727$1,444$1,011
17 years$2,686$2,248$1,872$1,551$1,280$872
18 years$2,511$2,078$1,709$1,398$1,138$754
19 years$2,354$1,925$1,564$1,263$1,015$654
20 years$2,213$1,789$1,436$1,144$906$568
21 years$2,085$1,667$1,321$1,038$811$494
22 years$1,969$1,556$1,217$944$727$430
23 years$1,864$1,455$1,124$860$653$375
24 years$1,767$1,363$1,039$784$587$327
25 years$1,678$1,279$963$716$528$285
26 years$1,597$1,202$893$655$475$249
27 years$1,521$1,132$829$599$429$218
28 years$1,451$1,066$771$549$387$191
29 years$1,386$1,006$717$504$349$167
30 years$1,325$950$668$462$316$146
31 years$1,269$898$623$424$285$128
32 years$1,216$850$581$390$258$112
33 years$1,166$805$543$359$234$98
34 years$1,119$763$507$330$211$86
35 years$1,075$723$474$304$192$75
36 years$1,034$687$443$280$174$66
37 years$995$652$415$258$157$58
38 years$958$620$389$238$143$51
39 years$923$589$364$219$129$45
40 years$890$561$341$202$117$39
41 years$859$534$320$186$106$34
42 years$829$508$300$172$97$30
43 years$800$484$282$159$88$26
44 years$773$462$264$147$80$23
45 years$748$440$248$135$72$20
46 years$723$420$233$125$66$18
47 years$700$401$219$116$60$16
48 years$677$383$206$107$54$14
49 years$656$365$193$99$49$12
50 years$636$349$182$91$45$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $651,000, adding $6,550 every year, while hoping to spend $49,511 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: 54/36/10 Blend
60$651,000$651,000$651,000$651,000
61$724,158$689,655$679,565$761,093
62$745,343$670,769$649,651$767,997
63$767,029$649,298$617,076$769,553
64$789,216$625,063$581,697$770,078
65$811,900$597,875$543,368$769,482
66$835,077$567,534$501,934$767,673
67$858,739$533,828$457,233$764,547
68$882,877$496,532$409,097$759,999
69$907,478$455,409$357,349$753,914
70$932,527$410,210$301,806$746,167
71$958,004$360,670$242,276$736,629
72$983,885$306,508$178,558$725,159
73$1,010,145$247,430$110,442$711,607
74$1,036,748$183,123$37,711$695,814
75$1,063,658$113,257$0$677,609
76$1,090,828$37,485$0$661,067
77$1,118,209$0$0$646,307
78$1,145,740$0$0$646,771
79$1,173,354$0$0$662,099
80$1,200,973$0$0$677,396
81$1,228,508$0$0$692,608
82$1,255,862$0$0$707,674
83$1,282,920$0$0$722,527
84$1,309,554$0$0$737,088
85$1,335,623$0$0$751,271
86$1,360,964$0$0$764,980
87$1,385,397$0$0$778,105
88$1,408,719$0$0$790,524
89$1,430,703$0$0$802,102
90$1,451,096$0$0$812,685
91$1,469,614$0$0$822,103
92$1,485,942$0$0$830,168
93$1,499,728$0$0$836,668
94$1,510,580$0$0$841,369
95$1,518,062$0$0$844,008
96$1,521,690$0$0$844,297
97$1,520,924$0$0$841,913
98$1,515,167$0$0$836,498
99$1,503,755$0$0$827,654
100$1,485,951$0$0$814,943