Can I retire at age 61 with 670,000?

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 $670,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.7%
1 years$55,328$54,835$54,354$53,885$53,427$51,552
2 years$27,390$26,880$26,386$25,906$25,441$23,572
3 years$18,079$17,566$17,073$16,598$16,141$14,336
4 years$13,424$12,913$12,425$11,958$11,512$9,785
5 years$10,632$10,124$9,642$9,185$8,751$7,107
6 years$8,771$8,267$7,792$7,345$6,924$5,364
7 years$7,442$6,943$6,476$6,039$5,631$4,155
8 years$6,446$5,951$5,492$5,066$4,672$3,278
9 years$5,672$5,182$4,730$4,315$3,934$2,621
10 years$5,053$4,567$4,124$3,720$3,352$2,117
11 years$4,547$4,066$3,630$3,237$2,883$1,724
12 years$4,125$3,649$3,222$2,839$2,498$1,413
13 years$3,769$3,298$2,879$2,507$2,179$1,163
14 years$3,464$2,998$2,586$2,225$1,910$962
15 years$3,199$2,739$2,335$1,985$1,682$798
16 years$2,968$2,513$2,117$1,777$1,486$663
17 years$2,765$2,314$1,927$1,597$1,318$553
18 years$2,584$2,138$1,759$1,439$1,172$462
19 years$2,422$1,982$1,610$1,300$1,044$386
20 years$2,277$1,841$1,478$1,178$933$323
21 years$2,146$1,715$1,359$1,069$835$271
22 years$2,027$1,601$1,253$972$748$227
23 years$1,918$1,497$1,157$885$672$191
24 years$1,819$1,403$1,070$807$604$160
25 years$1,727$1,317$991$737$543$135
26 years$1,643$1,237$919$674$489$113
27 years$1,565$1,165$853$617$441$95
28 years$1,493$1,097$793$565$398$80
29 years$1,426$1,035$738$518$359$67
30 years$1,364$978$688$476$325$57
31 years$1,306$924$641$437$294$48
32 years$1,251$875$598$401$266$40
33 years$1,200$828$558$369$240$34
34 years$1,152$785$522$340$218$28
35 years$1,107$745$488$313$197$24
36 years$1,064$707$456$288$179$20
37 years$1,024$671$427$265$162$17
38 years$986$638$400$245$147$14
39 years$950$607$375$226$133$12
40 years$916$577$351$208$121$10
41 years$884$549$329$192$110$9
42 years$853$523$309$177$99$7
43 years$824$498$290$163$90$6
44 years$796$475$272$151$82$5
45 years$770$453$255$139$74$4
46 years$744$432$240$129$67$4
47 years$720$412$225$119$61$3
48 years$697$394$212$110$56$3
49 years$675$376$199$102$51$2
50 years$654$359$187$94$46$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $670,000, adding $6,863 every year, while hoping to spend $20,891 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: 63/32/5 Blend
60$670,000$670,000$670,000$670,000
61$745,419$709,909$699,524$791,387
62$799,224$722,467$700,730$835,411
63$857,817$734,940$701,277$880,362
64$921,664$747,301$701,119$928,889
65$991,278$759,524$700,212$981,336
66$1,067,225$771,577$698,505$1,038,084
67$1,150,126$783,428$695,948$1,099,549
68$1,240,665$795,042$692,489$1,166,193
69$1,339,595$806,382$688,070$1,238,523
70$1,447,746$817,407$682,633$1,317,100
71$1,566,032$828,075$676,116$1,402,538
72$1,695,457$838,341$668,456$1,495,518
73$1,837,128$848,154$659,584$1,596,789
74$1,992,265$857,464$649,430$1,707,175
75$2,162,211$866,214$637,920$1,827,587
76$2,348,443$874,345$624,977$1,959,026
77$2,552,589$881,793$610,519$2,102,598
78$2,776,444$888,491$594,462$2,259,521
79$3,021,982$894,368$576,717$2,431,138
80$3,291,378$899,346$557,191$2,618,928
81$3,587,029$903,345$535,788$2,824,523
82$3,911,574$906,277$512,405$3,049,721
83$4,267,921$908,051$486,937$3,296,504
84$4,659,273$908,569$459,273$3,567,057
85$5,089,157$907,727$429,297$3,863,790
86$5,561,460$905,415$396,888$4,189,357
87$6,080,465$901,516$361,919$4,546,685
88$6,650,887$895,905$324,258$4,939,002
89$7,277,924$888,451$283,768$5,369,862
90$7,967,302$879,015$240,303$5,843,188
91$8,725,327$867,447$193,714$6,363,300
92$9,558,950$853,592$143,843$6,934,963
93$10,475,827$837,282$90,526$7,563,429
94$11,484,395$818,341$33,592$8,254,487
95$12,593,947$796,584$0$9,014,517
96$13,814,725$771,812$0$9,852,003
97$15,158,013$743,817$0$10,775,257
98$16,636,242$712,376$0$11,791,041
99$18,263,113$677,257$0$12,908,787
100$20,053,719$638,210$0$14,138,892