Can I retire at age 61 with 670,000?

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 $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%12.5%
1 years$55,328$54,835$54,354$53,885$53,427$52,869
2 years$27,390$26,880$26,386$25,906$25,441$24,879
3 years$18,079$17,566$17,073$16,598$16,141$15,593
4 years$13,424$12,913$12,425$11,958$11,512$10,981
5 years$10,632$10,124$9,642$9,185$8,751$8,240
6 years$8,771$8,267$7,792$7,345$6,924$6,433
7 years$7,442$6,943$6,476$6,039$5,631$5,160
8 years$6,446$5,951$5,492$5,066$4,672$4,221
9 years$5,672$5,182$4,730$4,315$3,934$3,503
10 years$5,053$4,567$4,124$3,720$3,352$2,941
11 years$4,547$4,066$3,630$3,237$2,883$2,491
12 years$4,125$3,649$3,222$2,839$2,498$2,125
13 years$3,769$3,298$2,879$2,507$2,179$1,824
14 years$3,464$2,998$2,586$2,225$1,910$1,573
15 years$3,199$2,739$2,335$1,985$1,682$1,362
16 years$2,968$2,513$2,117$1,777$1,486$1,184
17 years$2,765$2,314$1,927$1,597$1,318$1,032
18 years$2,584$2,138$1,759$1,439$1,172$901
19 years$2,422$1,982$1,610$1,300$1,044$789
20 years$2,277$1,841$1,478$1,178$933$692
21 years$2,146$1,715$1,359$1,069$835$608
22 years$2,027$1,601$1,253$972$748$535
23 years$1,918$1,497$1,157$885$672$472
24 years$1,819$1,403$1,070$807$604$416
25 years$1,727$1,317$991$737$543$367
26 years$1,643$1,237$919$674$489$324
27 years$1,565$1,165$853$617$441$287
28 years$1,493$1,097$793$565$398$254
29 years$1,426$1,035$738$518$359$224
30 years$1,364$978$688$476$325$199
31 years$1,306$924$641$437$294$176
32 years$1,251$875$598$401$266$156
33 years$1,200$828$558$369$240$138
34 years$1,152$785$522$340$218$123
35 years$1,107$745$488$313$197$109
36 years$1,064$707$456$288$179$97
37 years$1,024$671$427$265$162$86
38 years$986$638$400$245$147$76
39 years$950$607$375$226$133$68
40 years$916$577$351$208$121$60
41 years$884$549$329$192$110$53
42 years$853$523$309$177$99$47
43 years$824$498$290$163$90$42
44 years$796$475$272$151$82$37
45 years$770$453$255$139$74$33
46 years$744$432$240$129$67$29
47 years$720$412$225$119$61$26
48 years$697$394$212$110$56$23
49 years$675$376$199$102$51$21
50 years$654$359$187$94$46$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $670,000, adding $4,473 every year, while hoping to spend $38,981 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: 34/46/20 Blend
60$670,000$670,000$670,000$670,000
61$742,954$707,444$697,059$763,527
62$777,260$700,633$678,935$772,294
63$813,758$692,182$658,897$777,833
64$852,632$681,970$636,841$782,997
65$894,081$669,866$612,655$787,777
66$938,323$655,736$586,226$792,164
67$985,600$639,435$557,432$796,154
68$1,036,173$620,809$526,147$799,746
69$1,090,331$599,697$492,241$802,943
70$1,148,389$575,927$455,576$805,751
71$1,210,695$549,318$416,009$808,185
72$1,277,630$519,677$373,388$810,262
73$1,349,610$486,803$327,559$812,009
74$1,427,094$450,481$278,356$813,461
75$1,510,586$410,483$225,609$814,662
76$1,600,639$366,570$169,141$815,666
77$1,697,861$318,489$108,763$816,541
78$1,802,919$265,971$44,283$817,367
79$1,916,547$208,734$0$818,241
80$2,039,552$146,478$0$824,512
81$2,172,819$78,889$0$841,504
82$2,317,325$5,633$0$859,962
83$2,474,142$0$0$880,118
84$2,644,447$0$0$939,510
85$2,829,539$0$0$1,007,244
86$3,030,845$0$0$1,081,002
87$3,249,933$0$0$1,161,370
88$3,488,531$0$0$1,248,994
89$3,748,540$0$0$1,344,584
90$4,032,052$0$0$1,448,923
91$4,341,368$0$0$1,562,871
92$4,679,024$0$0$1,687,375
93$5,047,807$0$0$1,823,480
94$5,450,789$0$0$1,972,332
95$5,891,351$0$0$2,135,198
96$6,373,215$0$0$2,313,469
97$6,900,478$0$0$2,508,679
98$7,477,654$0$0$2,722,516
99$8,109,712$0$0$2,956,840
100$8,802,123$0$0$3,213,699