Can I retire at age 61 with 658,000?

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 $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%15.5%
1 years$54,337$53,853$53,381$52,920$52,470$51,285
2 years$26,900$26,399$25,913$25,442$24,986$23,798
3 years$17,755$17,252$16,767$16,301$15,852$14,699
4 years$13,183$12,682$12,202$11,744$11,306$10,196
5 years$10,441$9,943$9,470$9,021$8,594$7,531
6 years$8,614$8,119$7,653$7,214$6,800$5,785
7 years$7,309$6,818$6,360$5,931$5,531$4,563
8 years$6,331$5,845$5,393$4,975$4,588$3,668
9 years$5,570$5,089$4,645$4,238$3,864$2,991
10 years$4,962$4,485$4,050$3,653$3,292$2,465
11 years$4,465$3,993$3,565$3,179$2,831$2,049
12 years$4,051$3,584$3,164$2,789$2,454$1,715
13 years$3,701$3,239$2,827$2,462$2,140$1,443
14 years$3,402$2,944$2,540$2,185$1,876$1,219
15 years$3,142$2,689$2,293$1,949$1,651$1,034
16 years$2,915$2,468$2,079$1,745$1,460$880
17 years$2,715$2,273$1,892$1,568$1,294$751
18 years$2,538$2,100$1,727$1,413$1,151$642
19 years$2,379$1,946$1,581$1,277$1,026$550
20 years$2,236$1,808$1,451$1,156$916$472
21 years$2,107$1,685$1,335$1,050$820$405
22 years$1,990$1,572$1,230$954$735$348
23 years$1,884$1,471$1,136$869$660$300
24 years$1,786$1,378$1,050$793$593$258
25 years$1,696$1,293$973$724$534$223
26 years$1,614$1,215$902$662$481$192
27 years$1,537$1,144$838$606$433$166
28 years$1,467$1,078$779$555$391$143
29 years$1,401$1,017$725$509$353$124
30 years$1,339$960$675$467$319$107
31 years$1,282$908$629$429$288$92
32 years$1,229$859$587$394$261$80
33 years$1,178$813$548$363$236$69
34 years$1,131$771$512$334$214$60
35 years$1,087$731$479$307$194$52
36 years$1,045$694$448$283$175$45
37 years$1,006$659$419$261$159$39
38 years$968$626$393$240$144$33
39 years$933$596$368$221$131$29
40 years$900$567$345$204$119$25
41 years$868$539$323$188$108$22
42 years$838$514$303$174$98$19
43 years$809$490$285$161$89$16
44 years$782$467$267$148$80$14
45 years$756$445$251$137$73$12
46 years$731$424$236$126$66$11
47 years$707$405$221$117$60$9
48 years$685$387$208$108$55$8
49 years$663$369$196$100$50$7
50 years$642$353$184$92$45$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $658,000, adding $2,696 every year, while hoping to spend $25,496 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: 61/34/5 Blend
60$658,000$658,000$658,000$658,000
61$727,897$693,023$682,824$771,541
62$775,015$699,854$678,571$807,841
63$826,084$706,164$673,321$844,219
64$881,481$711,903$667,014$883,250
65$941,620$717,013$659,586$925,188
66$1,006,955$721,436$650,972$970,315
67$1,077,986$725,109$641,101$1,018,942
68$1,155,265$727,963$629,902$1,071,410
69$1,239,397$729,929$617,299$1,128,098
70$1,331,048$730,928$603,212$1,189,422
71$1,430,953$730,882$587,557$1,255,843
72$1,539,919$729,704$570,249$1,327,868
73$1,658,834$727,302$551,196$1,406,058
74$1,788,676$723,581$530,302$1,491,030
75$1,930,523$718,438$507,468$1,583,468
76$2,085,559$711,764$482,591$1,684,123
77$2,255,089$703,444$455,562$1,793,827
78$2,440,551$693,356$426,266$1,913,496
79$2,643,526$681,369$394,585$2,044,141
80$2,865,757$667,348$360,395$2,186,878
81$3,109,163$651,146$323,566$2,342,939
82$3,375,855$632,610$283,963$2,513,681
83$3,668,161$611,576$241,445$2,700,604
84$3,988,643$587,873$195,863$2,905,361
85$4,340,124$561,318$147,063$3,129,777
86$4,725,712$531,718$94,885$3,375,864
87$5,148,831$498,869$39,160$3,645,842
88$5,613,253$462,555$0$3,942,162
89$6,123,132$422,547$0$4,268,607
90$6,683,044$378,605$0$4,629,376
91$7,298,031$330,473$0$5,025,674
92$7,973,646$277,882$0$5,461,140
93$8,716,007$220,547$0$5,939,784
94$9,531,854$158,168$0$6,466,029
95$10,428,612$90,428$0$7,044,754
96$11,414,462$16,990$0$7,681,338
97$12,498,415$0$0$8,381,713
98$13,690,401$0$0$9,175,804
99$15,001,361$0$0$10,056,202
100$16,443,346$0$0$11,024,651