Can I retire at age 61 with 662,000?

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 $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%15.5%
1 years$54,667$54,180$53,705$53,242$52,789$51,597
2 years$27,063$26,559$26,071$25,597$25,138$23,943
3 years$17,863$17,357$16,869$16,400$15,948$14,788
4 years$13,264$12,759$12,277$11,815$11,374$10,258
5 years$10,505$10,003$9,527$9,075$8,647$7,577
6 years$8,666$8,168$7,699$7,258$6,842$5,820
7 years$7,353$6,860$6,398$5,967$5,564$4,591
8 years$6,369$5,880$5,426$5,005$4,616$3,690
9 years$5,604$5,120$4,674$4,264$3,887$3,009
10 years$4,993$4,513$4,075$3,675$3,312$2,480
11 years$4,492$4,017$3,587$3,199$2,849$2,061
12 years$4,076$3,606$3,183$2,806$2,469$1,725
13 years$3,724$3,259$2,844$2,477$2,153$1,452
14 years$3,422$2,962$2,556$2,199$1,887$1,227
15 years$3,161$2,706$2,307$1,961$1,661$1,041
16 years$2,933$2,483$2,092$1,756$1,468$886
17 years$2,732$2,286$1,904$1,578$1,302$756
18 years$2,553$2,113$1,738$1,422$1,158$646
19 years$2,393$1,958$1,591$1,285$1,032$553
20 years$2,250$1,819$1,460$1,163$922$475
21 years$2,120$1,695$1,343$1,056$825$408
22 years$2,003$1,582$1,238$960$739$351
23 years$1,895$1,480$1,143$874$664$302
24 years$1,797$1,386$1,057$797$597$260
25 years$1,707$1,301$979$728$537$224
26 years$1,624$1,223$908$666$483$193
27 years$1,547$1,151$843$610$436$167
28 years$1,475$1,084$784$558$393$144
29 years$1,409$1,023$729$512$355$124
30 years$1,348$966$679$470$321$107
31 years$1,290$913$633$432$290$93
32 years$1,236$864$591$397$262$80
33 years$1,186$818$552$365$238$69
34 years$1,138$776$515$336$215$60
35 years$1,093$736$482$309$195$52
36 years$1,051$698$451$285$176$45
37 years$1,012$663$422$262$160$39
38 years$974$630$395$242$145$34
39 years$939$599$370$223$131$29
40 years$905$570$347$206$119$25
41 years$873$543$325$190$108$22
42 years$843$517$305$175$98$19
43 years$814$492$286$162$89$16
44 years$787$469$269$149$81$14
45 years$760$448$252$138$73$12
46 years$735$427$237$127$67$11
47 years$712$408$223$118$61$9
48 years$689$389$209$109$55$8
49 years$667$372$197$100$50$7
50 years$646$355$185$93$45$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $662,000, adding $6,745 every year, while hoping to spend $55,679 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: 48/45/7 Blend
60$662,000$662,000$662,000$662,000
61$736,481$701,395$691,134$770,153
62$752,361$676,522$655,045$769,056
63$767,993$648,563$615,881$761,430
64$783,295$617,310$573,480$751,845
65$798,173$582,539$527,673$740,133
66$812,520$544,017$478,284$726,115
67$826,218$501,495$425,127$709,597
68$839,133$454,709$368,010$690,372
69$851,119$403,384$306,732$668,215
70$862,008$347,225$241,083$642,886
71$871,617$285,923$170,843$614,125
72$879,738$219,149$95,783$581,651
73$886,143$146,560$15,663$545,163
74$890,577$67,788$0$504,337
75$892,755$0$0$464,037
76$892,363$0$0$428,946
77$889,050$0$0$425,837
78$882,428$0$0$420,934
79$872,065$0$0$414,009
80$857,483$0$0$404,806
81$838,152$0$0$393,045
82$813,486$0$0$378,413
83$782,834$0$0$360,565
84$745,477$0$0$339,118
85$700,616$0$0$313,650
86$647,372$0$0$283,692
87$584,769$0$0$248,727
88$511,727$0$0$208,182
89$427,056$0$0$161,426
90$329,438$0$0$107,759
91$217,415$0$0$46,408
92$89,378$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0