Can I retire at age 61 with 657,000?

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 $657,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.4%
1 years$54,254$53,771$53,300$52,839$52,390$50,612
2 years$26,859$26,358$25,874$25,404$24,948$23,174
3 years$17,728$17,226$16,742$16,276$15,828$14,114
4 years$13,163$12,663$12,184$11,726$11,289$9,648
5 years$10,425$9,928$9,455$9,007$8,581$7,019
6 years$8,601$8,107$7,641$7,203$6,790$5,307
7 years$7,298$6,808$6,350$5,922$5,522$4,117
8 years$6,321$5,836$5,385$4,968$4,581$3,254
9 years$5,562$5,081$4,638$4,231$3,858$2,607
10 years$4,955$4,479$4,044$3,647$3,287$2,110
11 years$4,459$3,987$3,560$3,174$2,827$1,721
12 years$4,045$3,579$3,159$2,784$2,450$1,413
13 years$3,696$3,234$2,823$2,458$2,136$1,166
14 years$3,396$2,940$2,536$2,182$1,873$966
15 years$3,137$2,685$2,290$1,946$1,649$803
16 years$2,911$2,464$2,076$1,742$1,457$669
17 years$2,711$2,269$1,889$1,566$1,292$559
18 years$2,534$2,097$1,725$1,411$1,149$468
19 years$2,375$1,943$1,579$1,275$1,024$392
20 years$2,233$1,806$1,449$1,155$915$329
21 years$2,104$1,682$1,333$1,048$819$276
22 years$1,987$1,570$1,228$953$734$232
23 years$1,881$1,468$1,134$868$659$195
24 years$1,783$1,376$1,049$791$592$165
25 years$1,694$1,291$971$723$533$139
26 years$1,611$1,213$901$661$480$117
27 years$1,535$1,142$837$605$433$98
28 years$1,464$1,076$778$554$390$83
29 years$1,399$1,015$724$508$352$70
30 years$1,337$959$674$466$318$59
31 years$1,280$906$629$428$288$50
32 years$1,227$858$586$394$260$42
33 years$1,177$812$548$362$236$35
34 years$1,130$770$512$333$213$30
35 years$1,085$730$478$307$193$25
36 years$1,043$693$447$282$175$21
37 years$1,004$658$419$260$159$18
38 years$967$625$392$240$144$15
39 years$932$595$367$221$131$13
40 years$898$566$344$204$118$11
41 years$867$539$323$188$107$9
42 years$836$513$303$174$97$8
43 years$808$489$284$160$88$7
44 years$781$466$267$148$80$6
45 years$755$444$251$137$73$5
46 years$730$424$235$126$66$4
47 years$706$404$221$117$60$3
48 years$684$386$208$108$55$3
49 years$662$369$195$100$50$2
50 years$641$352$184$92$45$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $657,000, adding $5,045 every year, while hoping to spend $37,312 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: 61/12/27 Blend
60$657,000$657,000$657,000$657,000
61$729,218$694,397$684,213$768,130
62$763,898$688,723$667,435$789,511
63$800,866$681,520$648,844$808,363
64$840,314$672,674$628,340$828,146
65$882,455$662,065$605,819$848,957
66$927,523$649,562$581,170$870,906
67$975,771$635,032$554,281$894,116
68$1,027,480$618,330$525,030$918,724
69$1,082,958$599,302$493,293$944,882
70$1,142,540$577,789$458,939$972,760
71$1,206,598$553,618$421,831$1,002,547
72$1,275,535$526,611$381,827$1,034,453
73$1,349,800$496,574$338,778$1,068,713
74$1,429,880$463,307$292,528$1,105,587
75$1,516,314$426,595$242,914$1,145,364
76$1,609,692$386,213$189,766$1,188,365
77$1,710,665$341,922$132,908$1,234,949
78$1,819,946$293,469$72,153$1,285,510
79$1,938,320$240,588$7,309$1,340,491
80$2,066,648$182,997$0$1,400,378
81$2,205,881$120,398$0$1,483,544
82$2,357,061$52,478$0$1,576,166
83$2,521,337$0$0$1,676,864
84$2,699,970$0$0$1,789,229
85$2,894,349$0$0$1,919,083
86$3,106,003$0$0$2,060,525
87$3,336,613$0$0$2,214,683
88$3,588,030$0$0$2,382,800
89$3,862,291$0$0$2,566,246
90$4,161,637$0$0$2,766,525
91$4,488,536$0$0$2,985,297
92$4,845,706$0$0$3,224,385
93$5,236,135$0$0$3,485,800
94$5,663,118$0$0$3,771,755
95$6,130,279$0$0$4,084,684
96$6,641,610$0$0$4,427,270
97$7,201,508$0$0$4,802,468
98$7,814,812$0$0$5,213,530
99$8,486,854$0$0$5,664,038
100$9,223,505$0$0$6,157,938