Can I retire at age 61 with 671,000?

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 $671,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$55,411$54,917$54,435$53,965$53,506$53,014
2 years$27,431$26,920$26,425$25,945$25,479$24,983
3 years$18,106$17,593$17,099$16,623$16,165$15,680
4 years$13,444$12,932$12,443$11,976$11,529$11,060
5 years$10,648$10,139$9,657$9,199$8,764$8,312
6 years$8,784$8,279$7,804$7,356$6,935$6,500
7 years$7,453$6,953$6,485$6,048$5,640$5,222
8 years$6,456$5,960$5,500$5,074$4,679$4,279
9 years$5,680$5,189$4,737$4,322$3,940$3,558
10 years$5,060$4,574$4,130$3,725$3,357$2,992
11 years$4,554$4,072$3,636$3,242$2,887$2,539
12 years$4,131$3,655$3,227$2,844$2,502$2,170
13 years$3,774$3,303$2,883$2,511$2,182$1,866
14 years$3,469$3,002$2,590$2,229$1,913$1,613
15 years$3,204$2,743$2,339$1,988$1,684$1,399
16 years$2,973$2,516$2,120$1,780$1,488$1,219
17 years$2,769$2,317$1,929$1,599$1,320$1,064
18 years$2,588$2,141$1,761$1,441$1,173$932
19 years$2,426$1,985$1,612$1,302$1,046$818
20 years$2,281$1,844$1,480$1,179$934$719
21 years$2,149$1,718$1,361$1,070$836$633
22 years$2,030$1,604$1,254$973$749$558
23 years$1,921$1,500$1,158$886$673$493
24 years$1,821$1,405$1,071$808$605$436
25 years$1,730$1,319$992$738$544$386
26 years$1,646$1,239$920$675$490$341
27 years$1,568$1,166$854$618$442$303
28 years$1,496$1,099$794$566$399$268
29 years$1,428$1,037$739$519$360$238
30 years$1,366$979$689$476$325$211
31 years$1,307$926$642$438$294$188
32 years$1,253$876$599$402$266$167
33 years$1,202$829$559$370$241$148
34 years$1,154$786$522$340$218$132
35 years$1,108$746$488$313$197$117
36 years$1,066$708$457$288$179$104
37 years$1,025$672$428$266$162$93
38 years$987$639$401$245$147$83
39 years$951$607$375$226$133$73
40 years$917$578$352$208$121$65
41 years$885$550$330$192$110$58
42 years$854$524$309$177$100$52
43 years$825$499$290$164$90$46
44 years$797$476$273$151$82$41
45 years$771$454$256$140$74$37
46 years$745$433$240$129$68$33
47 years$721$413$226$119$61$29
48 years$698$394$212$110$56$26
49 years$676$377$199$102$51$23
50 years$655$360$187$94$46$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $671,000, adding $3,611 every year, while hoping to spend $48,790 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: 74/12/14 Blend
60$671,000$671,000$671,000$671,000
61$743,167$707,604$697,203$795,669
62$767,058$690,364$668,647$813,637
63$791,750$670,645$637,500$826,925
64$817,274$648,272$603,622$840,166
65$843,662$623,063$566,869$853,344
66$870,947$594,825$527,090$866,438
67$899,164$563,351$484,128$879,430
68$928,349$528,426$437,817$892,297
69$958,542$489,820$387,985$905,018
70$989,782$447,290$334,451$917,569
71$1,022,113$400,581$277,029$929,926
72$1,055,580$349,421$215,521$942,065
73$1,090,231$293,524$149,723$953,957
74$1,126,117$232,589$79,420$965,576
75$1,163,290$166,295$4,390$976,893
76$1,201,807$94,305$0$987,878
77$1,241,729$16,264$0$1,009,806
78$1,283,120$0$0$1,032,773
79$1,326,046$0$0$1,065,135
80$1,370,580$0$0$1,100,940
81$1,416,799$0$0$1,138,104
82$1,464,784$0$0$1,176,691
83$1,514,623$0$0$1,216,772
84$1,566,410$0$0$1,258,424
85$1,620,243$0$0$1,301,728
86$1,676,230$0$0$1,346,768
87$1,734,486$0$0$1,393,639
88$1,795,133$0$0$1,442,441
89$1,858,304$0$0$1,493,279
90$1,924,140$0$0$1,546,270
91$1,992,794$0$0$1,601,538
92$2,064,432$0$0$1,659,215
93$2,139,230$0$0$1,719,447
94$2,217,381$0$0$1,782,388
95$2,299,092$0$0$1,848,207
96$2,384,587$0$0$1,917,087
97$2,474,108$0$0$1,989,224
98$2,567,919$0$0$2,064,831
99$2,666,304$0$0$2,144,141
100$2,769,573$0$0$2,227,404