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%16%
1 years$54,667$54,180$53,705$53,242$52,789$51,492
2 years$27,063$26,559$26,071$25,597$25,138$23,839
3 years$17,863$17,357$16,869$16,400$15,948$14,688
4 years$13,264$12,759$12,277$11,815$11,374$10,163
5 years$10,505$10,003$9,527$9,075$8,647$7,487
6 years$8,666$8,168$7,699$7,258$6,842$5,736
7 years$7,353$6,860$6,398$5,967$5,564$4,511
8 years$6,369$5,880$5,426$5,005$4,616$3,616
9 years$5,604$5,120$4,674$4,264$3,887$2,939
10 years$4,993$4,513$4,075$3,675$3,312$2,415
11 years$4,492$4,017$3,587$3,199$2,849$2,001
12 years$4,076$3,606$3,183$2,806$2,469$1,669
13 years$3,724$3,259$2,844$2,477$2,153$1,400
14 years$3,422$2,962$2,556$2,199$1,887$1,179
15 years$3,161$2,706$2,307$1,961$1,661$997
16 years$2,933$2,483$2,092$1,756$1,468$845
17 years$2,732$2,286$1,904$1,578$1,302$718
18 years$2,553$2,113$1,738$1,422$1,158$612
19 years$2,393$1,958$1,591$1,285$1,032$522
20 years$2,250$1,819$1,460$1,163$922$446
21 years$2,120$1,695$1,343$1,056$825$382
22 years$2,003$1,582$1,238$960$739$327
23 years$1,895$1,480$1,143$874$664$280
24 years$1,797$1,386$1,057$797$597$241
25 years$1,707$1,301$979$728$537$207
26 years$1,624$1,223$908$666$483$178
27 years$1,547$1,151$843$610$436$153
28 years$1,475$1,084$784$558$393$131
29 years$1,409$1,023$729$512$355$113
30 years$1,348$966$679$470$321$97
31 years$1,290$913$633$432$290$84
32 years$1,236$864$591$397$262$72
33 years$1,186$818$552$365$238$62
34 years$1,138$776$515$336$215$53
35 years$1,093$736$482$309$195$46
36 years$1,051$698$451$285$176$40
37 years$1,012$663$422$262$160$34
38 years$974$630$395$242$145$29
39 years$939$599$370$223$131$25
40 years$905$570$347$206$119$22
41 years$873$543$325$190$108$19
42 years$843$517$305$175$98$16
43 years$814$492$286$162$89$14
44 years$787$469$269$149$81$12
45 years$760$448$252$138$73$10
46 years$735$427$237$127$67$9
47 years$712$408$223$118$61$8
48 years$689$389$209$109$55$7
49 years$667$372$197$100$50$6
50 years$646$355$185$93$45$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $662,000, adding $3,120 every year, while hoping to spend $26,624 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: 48/34/18 Blend
60$662,000$662,000$662,000$662,000
61$732,742$697,656$687,395$764,063
62$779,154$703,514$682,095$791,977
63$829,408$708,766$675,725$819,311
64$883,867$713,355$668,222$848,424
65$942,932$717,219$659,517$879,494
66$1,007,041$720,294$649,542$912,717
67$1,076,680$722,509$638,222$948,309
68$1,152,380$723,790$625,481$986,513
69$1,234,727$724,060$611,238$1,027,595
70$1,324,364$723,234$595,410$1,071,849
71$1,422,000$721,224$577,908$1,119,604
72$1,528,416$717,936$558,639$1,171,221
73$1,644,470$713,269$537,509$1,227,101
74$1,771,106$707,120$514,415$1,287,687
75$1,909,364$699,374$489,254$1,353,469
76$2,060,389$689,913$461,913$1,424,991
77$2,225,441$678,611$432,280$1,502,851
78$2,405,907$665,334$400,233$1,587,716
79$2,603,315$649,941$365,646$1,680,318
80$2,819,348$632,283$328,389$1,781,469
81$3,055,856$612,199$288,325$1,892,068
82$3,314,879$589,523$245,310$2,013,107
83$3,598,663$564,076$199,195$2,145,681
84$3,909,682$535,671$149,823$2,291,005
85$4,250,659$504,109$97,032$2,450,417
86$4,624,596$469,179$40,651$2,625,398
87$5,034,795$430,659$0$2,817,584
88$5,484,897$388,314$0$3,032,530
89$5,978,910$341,896$0$3,277,059
90$6,521,252$291,142$0$3,545,599
91$7,116,786$235,774$0$3,840,622
92$7,770,871$175,500$0$4,164,858
93$8,489,410$110,010$0$4,521,320
94$9,278,907$38,976$0$4,913,330
95$10,146,524$0$0$5,344,555
96$11,100,156$0$0$5,833,236
97$12,148,496$0$0$6,386,560
98$13,301,125$0$0$6,995,010
99$14,568,597$0$0$7,664,168
100$15,962,540$0$0$8,400,184