Can I retire at age 61 with 658,000?

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 $658,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$54,337$53,853$53,381$52,920$52,470$50,995
2 years$26,900$26,399$25,913$25,442$24,986$23,511
3 years$17,755$17,252$16,767$16,301$15,852$14,423
4 years$13,183$12,682$12,202$11,744$11,306$9,935
5 years$10,441$9,943$9,470$9,021$8,594$7,284
6 years$8,614$8,119$7,653$7,214$6,800$5,553
7 years$7,309$6,818$6,360$5,931$5,531$4,345
8 years$6,331$5,845$5,393$4,975$4,588$3,465
9 years$5,570$5,089$4,645$4,238$3,864$2,801
10 years$4,962$4,485$4,050$3,653$3,292$2,288
11 years$4,465$3,993$3,565$3,179$2,831$1,885
12 years$4,051$3,584$3,164$2,789$2,454$1,563
13 years$3,701$3,239$2,827$2,462$2,140$1,303
14 years$3,402$2,944$2,540$2,185$1,876$1,091
15 years$3,142$2,689$2,293$1,949$1,651$916
16 years$2,915$2,468$2,079$1,745$1,460$772
17 years$2,715$2,273$1,892$1,568$1,294$652
18 years$2,538$2,100$1,727$1,413$1,151$552
19 years$2,379$1,946$1,581$1,277$1,026$468
20 years$2,236$1,808$1,451$1,156$916$397
21 years$2,107$1,685$1,335$1,050$820$337
22 years$1,990$1,572$1,230$954$735$287
23 years$1,884$1,471$1,136$869$660$244
24 years$1,786$1,378$1,050$793$593$208
25 years$1,696$1,293$973$724$534$177
26 years$1,614$1,215$902$662$481$151
27 years$1,537$1,144$838$606$433$129
28 years$1,467$1,078$779$555$391$110
29 years$1,401$1,017$725$509$353$94
30 years$1,339$960$675$467$319$80
31 years$1,282$908$629$429$288$69
32 years$1,229$859$587$394$261$59
33 years$1,178$813$548$363$236$50
34 years$1,131$771$512$334$214$43
35 years$1,087$731$479$307$194$37
36 years$1,045$694$448$283$175$31
37 years$1,006$659$419$261$159$27
38 years$968$626$393$240$144$23
39 years$933$596$368$221$131$20
40 years$900$567$345$204$119$17
41 years$868$539$323$188$108$14
42 years$838$514$303$174$98$12
43 years$809$490$285$161$89$10
44 years$782$467$267$148$80$9
45 years$756$445$251$137$73$8
46 years$731$424$236$126$66$7
47 years$707$405$221$117$60$6
48 years$685$387$208$108$55$5
49 years$663$369$196$100$50$4
50 years$642$353$184$92$45$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $658,000, adding $2,249 every year, while hoping to spend $26,426 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: 23/48/29 Blend
60$658,000$658,000$658,000$658,000
61$727,436$692,562$682,363$737,477
62$773,517$698,380$677,105$752,237
63$823,413$703,598$670,785$765,667
64$877,485$708,158$663,340$779,488
65$936,130$711,999$654,703$793,751
66$999,784$715,056$644,805$808,513
67$1,068,929$717,261$633,573$823,839
68$1,144,092$718,539$620,930$839,802
69$1,225,855$718,813$606,796$856,488
70$1,314,857$718,000$591,089$873,992
71$1,411,803$716,012$573,721$892,422
72$1,517,466$712,755$554,599$911,899
73$1,632,698$708,132$533,630$932,561
74$1,758,439$702,036$510,712$954,564
75$1,895,721$694,356$485,741$978,081
76$2,045,679$684,975$458,609$1,003,309
77$2,209,566$673,766$429,200$1,030,467
78$2,388,759$660,598$397,396$1,059,803
79$2,584,776$645,330$363,071$1,091,593
80$2,799,285$627,814$326,096$1,126,145
81$3,034,126$607,891$286,335$1,163,807
82$3,291,325$585,395$243,645$1,204,965
83$3,573,111$560,150$197,878$1,250,052
84$3,881,940$531,970$148,879$1,299,549
85$4,220,518$500,656$96,486$1,353,994
86$4,591,823$466,000$40,530$1,413,987
87$4,999,137$427,782$0$1,480,196
88$5,446,074$385,768$0$1,559,300
89$5,936,614$339,712$0$1,659,960
90$6,475,144$289,353$0$1,770,601
91$7,066,492$234,415$0$1,892,309
92$7,715,982$174,609$0$2,026,286
93$8,429,473$109,626$0$2,173,862
94$9,213,424$39,142$0$2,336,509
95$10,074,949$0$0$2,515,858
96$11,021,884$0$0$2,733,354
97$12,062,865$0$0$2,995,303
98$13,207,403$0$0$3,283,440
99$14,465,979$0$0$3,600,419
100$15,850,139$0$0$3,949,165