Can I retire at age 61 with 662,000?

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 $662,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.1%
1 years$54,667$54,180$53,705$53,242$52,789$51,263
2 years$27,063$26,559$26,071$25,597$25,138$23,613
3 years$17,863$17,357$16,869$16,400$15,948$14,472
4 years$13,264$12,759$12,277$11,815$11,374$9,958
5 years$10,505$10,003$9,527$9,075$8,647$7,294
6 years$8,666$8,168$7,699$7,258$6,842$5,554
7 years$7,353$6,860$6,398$5,967$5,564$4,341
8 years$6,369$5,880$5,426$5,005$4,616$3,457
9 years$5,604$5,120$4,674$4,264$3,887$2,792
10 years$4,993$4,513$4,075$3,675$3,312$2,278
11 years$4,492$4,017$3,587$3,199$2,849$1,874
12 years$4,076$3,606$3,183$2,806$2,469$1,552
13 years$3,724$3,259$2,844$2,477$2,153$1,292
14 years$3,422$2,962$2,556$2,199$1,887$1,080
15 years$3,161$2,706$2,307$1,961$1,661$906
16 years$2,933$2,483$2,092$1,756$1,468$762
17 years$2,732$2,286$1,904$1,578$1,302$643
18 years$2,553$2,113$1,738$1,422$1,158$543
19 years$2,393$1,958$1,591$1,285$1,032$460
20 years$2,250$1,819$1,460$1,163$922$390
21 years$2,120$1,695$1,343$1,056$825$331
22 years$2,003$1,582$1,238$960$739$281
23 years$1,895$1,480$1,143$874$664$239
24 years$1,797$1,386$1,057$797$597$203
25 years$1,707$1,301$979$728$537$173
26 years$1,624$1,223$908$666$483$147
27 years$1,547$1,151$843$610$436$125
28 years$1,475$1,084$784$558$393$107
29 years$1,409$1,023$729$512$355$91
30 years$1,348$966$679$470$321$78
31 years$1,290$913$633$432$290$66
32 years$1,236$864$591$397$262$56
33 years$1,186$818$552$365$238$48
34 years$1,138$776$515$336$215$41
35 years$1,093$736$482$309$195$35
36 years$1,051$698$451$285$176$30
37 years$1,012$663$422$262$160$26
38 years$974$630$395$242$145$22
39 years$939$599$370$223$131$19
40 years$905$570$347$206$119$16
41 years$873$543$325$190$108$14
42 years$843$517$305$175$98$12
43 years$814$492$286$162$89$10
44 years$787$469$269$149$81$8
45 years$760$448$252$138$73$7
46 years$735$427$237$127$67$6
47 years$712$408$223$118$61$5
48 years$689$389$209$109$55$4
49 years$667$372$197$100$50$4
50 years$646$355$185$93$45$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $662,000, adding $4,638 every year, while hoping to spend $24,914 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: 68/27/5 Blend
60$662,000$662,000$662,000$662,000
61$734,308$699,222$688,961$783,501
62$782,699$706,976$685,533$824,419
63$835,191$714,274$681,155$865,666
64$892,176$721,069$675,769$910,086
65$954,085$727,308$669,314$957,987
66$1,021,392$732,937$661,727$1,009,704
67$1,094,619$737,896$652,940$1,065,607
68$1,174,341$742,123$642,883$1,126,107
69$1,261,188$745,551$631,484$1,191,653
70$1,355,856$748,110$618,666$1,262,744
71$1,459,110$749,724$604,348$1,339,925
72$1,571,792$750,314$588,446$1,423,803
73$1,694,829$749,793$570,874$1,515,043
74$1,829,241$748,073$551,538$1,614,378
75$1,976,152$745,057$530,342$1,722,620
76$2,136,798$740,643$507,187$1,840,660
77$2,312,541$734,724$481,968$1,969,484
78$2,504,880$727,185$454,573$2,110,176
79$2,715,466$717,906$424,890$2,263,934
80$2,946,117$706,757$392,797$2,432,078
81$3,198,835$693,602$358,170$2,616,063
82$3,475,825$678,298$320,878$2,817,494
83$3,779,516$660,691$280,784$3,038,139
84$4,112,581$640,620$237,745$3,279,951
85$4,477,968$617,913$191,613$3,545,081
86$4,878,919$592,389$142,230$3,835,901
87$5,319,010$563,857$89,436$4,155,026
88$5,802,177$532,114$33,060$4,505,341
89$6,332,757$496,946$0$4,890,026
90$6,915,527$458,125$0$5,314,032
91$7,555,749$415,412$0$5,781,757
92$8,259,221$368,553$0$6,295,706
93$9,032,331$317,281$0$6,860,590
94$9,882,114$261,313$0$7,481,603
95$10,816,322$200,349$0$8,164,468
96$11,843,495$134,075$0$8,915,495
97$12,973,043$62,156$0$9,741,642
98$14,215,333$0$0$10,650,577
99$15,581,786$0$0$11,655,436
100$17,084,986$0$0$12,781,215