Can I retire at age 61 with 674,000?

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 $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%17.6%
1 years$55,658$55,163$54,679$54,207$53,746$52,088
2 years$27,554$27,040$26,543$26,061$25,593$23,937
3 years$18,187$17,671$17,175$16,697$16,237$14,636
4 years$13,504$12,990$12,499$12,030$11,581$10,045
5 years$10,695$10,184$9,700$9,240$8,803$7,338
6 years$8,823$8,316$7,839$7,389$6,966$5,573
7 years$7,487$6,984$6,514$6,075$5,665$4,343
8 years$6,485$5,987$5,525$5,096$4,700$3,449
9 years$5,706$5,212$4,758$4,341$3,958$2,776
10 years$5,083$4,595$4,148$3,742$3,372$2,258
11 years$4,574$4,090$3,652$3,257$2,900$1,852
12 years$4,150$3,671$3,241$2,856$2,513$1,529
13 years$3,791$3,318$2,896$2,522$2,192$1,268
14 years$3,484$3,016$2,602$2,239$1,921$1,057
15 years$3,218$2,755$2,349$1,996$1,692$883
16 years$2,986$2,528$2,130$1,788$1,495$740
17 years$2,781$2,328$1,938$1,606$1,326$622
18 years$2,599$2,151$1,769$1,447$1,179$524
19 years$2,437$1,993$1,620$1,308$1,051$442
20 years$2,291$1,852$1,486$1,185$938$373
21 years$2,159$1,725$1,367$1,075$840$315
22 years$2,039$1,611$1,260$977$753$267
23 years$1,930$1,506$1,163$890$676$226
24 years$1,830$1,411$1,076$812$607$191
25 years$1,738$1,325$997$741$546$162
26 years$1,653$1,245$924$678$492$137
27 years$1,575$1,172$858$621$444$117
28 years$1,502$1,104$798$569$400$99
29 years$1,435$1,041$743$521$362$84
30 years$1,372$984$692$479$327$71
31 years$1,313$930$645$439$295$61
32 years$1,258$880$602$404$267$51
33 years$1,207$833$562$371$242$44
34 years$1,159$790$525$342$219$37
35 years$1,113$749$491$315$198$32
36 years$1,070$711$459$290$180$27
37 years$1,030$675$430$267$163$23
38 years$992$642$402$246$148$19
39 years$956$610$377$227$134$16
40 years$921$581$353$209$121$14
41 years$889$553$331$193$110$12
42 years$858$526$311$178$100$10
43 years$829$501$292$164$91$9
44 years$801$478$274$152$82$7
45 years$774$456$257$140$75$6
46 years$749$435$241$130$68$5
47 years$725$415$227$120$62$5
48 years$701$396$213$111$56$4
49 years$679$378$200$102$51$3
50 years$658$361$188$94$46$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $674,000, adding $6,796 every year, while hoping to spend $25,675 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: 49/27/24 Blend
60$674,000$674,000$674,000$674,000
61$749,758$714,036$703,589$781,110
62$798,915$721,706$699,841$811,342
63$852,226$728,891$695,107$841,051
64$910,087$735,540$689,327$872,808
65$972,934$741,600$682,438$906,817
66$1,041,248$747,012$674,374$943,304
67$1,115,554$751,716$665,065$982,521
68$1,196,436$755,645$654,439$1,024,744
69$1,284,531$758,730$642,421$1,070,280
70$1,380,542$760,896$628,932$1,119,468
71$1,485,243$762,067$613,887$1,172,684
72$1,599,487$762,157$597,201$1,230,340
73$1,724,210$761,078$578,783$1,292,898
74$1,860,444$758,735$558,537$1,360,863
75$2,009,326$755,030$536,364$1,434,796
76$2,172,106$749,855$512,161$1,515,316
77$2,350,161$743,098$485,819$1,603,109
78$2,545,007$734,640$457,223$1,698,932
79$2,758,314$724,353$426,257$1,803,620
80$2,991,921$712,105$392,795$1,918,098
81$3,247,852$697,753$356,709$2,043,386
82$3,528,336$681,147$317,862$2,180,614
83$3,835,830$662,126$276,114$2,331,026
84$4,173,037$640,523$231,316$2,495,999
85$4,542,938$616,160$183,316$2,677,052
86$4,948,812$588,846$131,951$2,875,865
87$5,394,273$558,382$77,055$3,094,289
88$5,883,304$524,557$18,450$3,334,373
89$6,420,288$487,148$0$3,598,374
90$7,010,056$445,917$0$3,900,078
91$7,657,930$400,615$0$4,236,724
92$8,369,772$350,979$0$4,606,672
93$9,152,040$296,728$0$5,013,329
94$10,011,849$237,568$0$5,460,455
95$10,957,036$173,188$0$5,952,193
96$11,996,238$103,258$0$6,493,112
97$13,138,969$27,432$0$7,088,250
98$14,395,710$0$0$7,743,165
99$15,778,011$0$0$8,480,220
100$17,298,595$0$0$9,300,058