Can I retire at age 61 with 673,000?

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 $673,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$55,576$55,081$54,598$54,126$53,666$53,039
2 years$27,513$27,000$26,504$26,022$25,555$24,925
3 years$18,160$17,645$17,150$16,673$16,213$15,598
4 years$13,484$12,971$12,481$12,012$11,563$10,968
5 years$10,679$10,169$9,685$9,226$8,790$8,217
6 years$8,810$8,304$7,827$7,378$6,956$6,405
7 years$7,476$6,974$6,504$6,066$5,657$5,129
8 years$6,475$5,978$5,516$5,089$4,693$4,188
9 years$5,697$5,205$4,751$4,334$3,952$3,470
10 years$5,076$4,588$4,142$3,736$3,367$2,908
11 years$4,567$4,084$3,647$3,252$2,896$2,458
12 years$4,144$3,666$3,236$2,852$2,510$2,093
13 years$3,786$3,313$2,891$2,518$2,188$1,793
14 years$3,479$3,011$2,598$2,235$1,918$1,543
15 years$3,214$2,751$2,346$1,993$1,689$1,334
16 years$2,982$2,524$2,127$1,785$1,493$1,157
17 years$2,777$2,324$1,935$1,604$1,324$1,006
18 years$2,596$2,148$1,767$1,445$1,177$877
19 years$2,433$1,991$1,617$1,306$1,049$766
20 years$2,287$1,850$1,484$1,183$937$671
21 years$2,155$1,723$1,365$1,073$838$588
22 years$2,036$1,608$1,258$976$752$516
23 years$1,927$1,504$1,162$889$675$454
24 years$1,827$1,409$1,074$811$606$399
25 years$1,735$1,323$995$740$546$352
26 years$1,651$1,243$923$677$492$310
27 years$1,572$1,170$857$620$443$273
28 years$1,500$1,102$797$568$400$241
29 years$1,433$1,040$741$521$361$213
30 years$1,370$982$691$478$326$188
31 years$1,311$928$644$439$295$166
32 years$1,257$878$601$403$267$147
33 years$1,205$832$561$371$241$130
34 years$1,157$788$524$341$219$115
35 years$1,112$748$490$314$198$102
36 years$1,069$710$458$289$179$90
37 years$1,029$674$429$267$163$80
38 years$990$641$402$246$147$71
39 years$954$609$376$227$134$62
40 years$920$580$353$209$121$55
41 years$888$552$331$193$110$49
42 years$857$525$310$178$100$43
43 years$828$501$291$164$91$38
44 years$800$477$273$152$82$34
45 years$773$455$257$140$75$30
46 years$748$434$241$129$68$27
47 years$723$414$226$120$62$24
48 years$700$396$213$110$56$21
49 years$678$378$200$102$51$19
50 years$657$361$188$94$46$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $673,000, adding $5,576 every year, while hoping to spend $38,051 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: 55/35/10 Blend
60$673,000$673,000$673,000$673,000
61$747,398$711,729$701,297$786,347
62$783,146$706,117$684,305$807,740
63$821,266$698,956$665,468$826,366
64$861,958$690,128$644,684$845,741
65$905,444$679,511$621,847$865,944
66$951,966$666,973$596,846$887,061
67$1,001,790$652,378$569,563$909,191
68$1,055,206$635,578$539,877$932,445
69$1,112,535$616,419$507,660$956,945
70$1,174,126$594,736$472,780$982,832
71$1,240,366$570,357$435,097$1,010,259
72$1,311,675$543,097$394,465$1,039,402
73$1,388,520$512,763$350,733$1,070,453
74$1,471,409$479,148$303,743$1,103,631
75$1,560,902$442,036$253,328$1,139,179
76$1,657,615$401,196$199,315$1,177,366
77$1,762,224$356,387$141,524$1,218,496
78$1,875,472$307,351$79,767$1,262,905
79$1,998,177$253,818$13,846$1,310,970
80$2,131,237$195,501$0$1,363,107
81$2,275,641$132,098$0$1,425,813
82$2,432,474$63,289$0$1,495,546
83$2,602,934$0$0$1,571,426
84$2,788,334$0$0$1,658,458
85$2,990,122$0$0$1,779,768
86$3,209,889$0$0$1,911,944
87$3,449,388$0$0$2,056,047
88$3,710,548$0$0$2,213,245
89$3,995,488$0$0$2,384,822
90$4,306,547$0$0$2,572,194
91$4,646,294$0$0$2,776,918
92$5,017,561$0$0$3,000,708
93$5,423,463$0$0$3,245,451
94$5,867,432$0$0$3,513,227
95$6,353,245$0$0$3,806,323
96$6,885,062$0$0$4,127,259
97$7,467,464$0$0$4,478,811
98$8,105,494$0$0$4,864,034
99$8,804,709$0$0$5,286,294
100$9,571,226$0$0$5,749,297