Can I retire at age 61 with 674,000?

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 $674,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$55,658$55,163$54,679$54,207$53,746$52,639
2 years$27,554$27,040$26,543$26,061$25,593$24,483
3 years$18,187$17,671$17,175$16,697$16,237$15,159
4 years$13,504$12,990$12,499$12,030$11,581$10,542
5 years$10,695$10,184$9,700$9,240$8,803$7,807
6 years$8,823$8,316$7,839$7,389$6,966$6,013
7 years$7,487$6,984$6,514$6,075$5,665$4,756
8 years$6,485$5,987$5,525$5,096$4,700$3,835
9 years$5,706$5,212$4,758$4,341$3,958$3,136
10 years$5,083$4,595$4,148$3,742$3,372$2,593
11 years$4,574$4,090$3,652$3,257$2,900$2,162
12 years$4,150$3,671$3,241$2,856$2,513$1,815
13 years$3,791$3,318$2,896$2,522$2,192$1,532
14 years$3,484$3,016$2,602$2,239$1,921$1,300
15 years$3,218$2,755$2,349$1,996$1,692$1,106
16 years$2,986$2,528$2,130$1,788$1,495$945
17 years$2,781$2,328$1,938$1,606$1,326$809
18 years$2,599$2,151$1,769$1,447$1,179$694
19 years$2,437$1,993$1,620$1,308$1,051$597
20 years$2,291$1,852$1,486$1,185$938$514
21 years$2,159$1,725$1,367$1,075$840$443
22 years$2,039$1,611$1,260$977$753$382
23 years$1,930$1,506$1,163$890$676$330
24 years$1,830$1,411$1,076$812$607$286
25 years$1,738$1,325$997$741$546$247
26 years$1,653$1,245$924$678$492$214
27 years$1,575$1,172$858$621$444$186
28 years$1,502$1,104$798$569$400$161
29 years$1,435$1,041$743$521$362$140
30 years$1,372$984$692$479$327$121
31 years$1,313$930$645$439$295$105
32 years$1,258$880$602$404$267$91
33 years$1,207$833$562$371$242$79
34 years$1,159$790$525$342$219$69
35 years$1,113$749$491$315$198$60
36 years$1,070$711$459$290$180$52
37 years$1,030$675$430$267$163$45
38 years$992$642$402$246$148$39
39 years$956$610$377$227$134$34
40 years$921$581$353$209$121$30
41 years$889$553$331$193$110$26
42 years$858$526$311$178$100$22
43 years$829$501$292$164$91$19
44 years$801$478$274$152$82$17
45 years$774$456$257$140$75$15
46 years$749$435$241$130$68$13
47 years$725$415$227$120$62$11
48 years$701$396$213$111$56$10
49 years$679$378$200$102$51$8
50 years$658$361$188$94$46$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $674,000, adding $5,147 every year, while hoping to spend $35,943 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: 79/6/15 Blend
60$674,000$674,000$674,000$674,000
61$748,057$712,335$701,888$804,418
62$786,116$708,996$687,158$838,914
63$826,852$704,290$670,730$871,642
64$870,501$698,109$652,510$906,538
65$917,320$690,345$632,397$943,804
66$967,592$680,877$610,288$983,664
67$1,021,628$669,582$586,074$1,026,363
68$1,079,770$656,327$559,643$1,072,173
69$1,142,390$640,972$530,875$1,121,391
70$1,209,902$623,367$499,647$1,174,349
71$1,282,755$603,355$465,829$1,231,408
72$1,361,448$580,771$429,285$1,292,970
73$1,446,524$555,437$389,875$1,359,477
74$1,538,583$527,167$347,450$1,431,416
75$1,638,285$495,765$301,855$1,509,324
76$1,746,353$461,021$252,931$1,593,795
77$1,863,585$422,714$200,508$1,685,481
78$1,990,856$380,613$144,410$1,785,104
79$2,129,130$334,469$84,455$1,893,459
80$2,279,467$284,024$20,450$2,011,423
81$2,443,033$229,002$0$2,139,962
82$2,621,111$169,112$0$2,287,803
83$2,815,113$104,047$0$2,452,454
84$3,026,593$33,484$0$2,631,969
85$3,257,261$0$0$2,827,816
86$3,508,998$0$0$3,044,445
87$3,783,877$0$0$3,283,420
88$4,084,177$0$0$3,544,517
89$4,412,410$0$0$3,829,921
90$4,771,339$0$0$4,142,038
91$5,164,009$0$0$4,483,517
92$5,593,770$0$0$4,857,274
93$6,064,311$0$0$5,266,523
94$6,579,698$0$0$5,714,800
95$7,144,403$0$0$6,206,001
96$7,763,357$0$0$6,744,416
97$8,441,985$0$0$7,334,769
98$9,186,267$0$0$7,982,264
99$10,002,786$0$0$8,692,633
100$10,898,796$0$0$9,472,190