Can I retire at age 61 with 677,000?

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 $677,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.4%
1 years$55,906$55,408$54,922$54,448$53,985$52,153
2 years$27,676$27,161$26,661$26,177$25,707$23,879
3 years$18,268$17,750$17,252$16,772$16,310$14,544
4 years$13,564$13,048$12,555$12,083$11,632$9,942
5 years$10,743$10,230$9,743$9,281$8,843$7,233
6 years$8,863$8,353$7,874$7,422$6,997$5,468
7 years$7,520$7,015$6,543$6,102$5,690$4,243
8 years$6,514$6,013$5,549$5,119$4,721$3,353
9 years$5,731$5,236$4,779$4,360$3,975$2,686
10 years$5,106$4,615$4,167$3,759$3,387$2,174
11 years$4,594$4,108$3,668$3,271$2,913$1,774
12 years$4,168$3,688$3,256$2,869$2,525$1,456
13 years$3,808$3,332$2,909$2,533$2,201$1,202
14 years$3,500$3,029$2,613$2,249$1,930$995
15 years$3,233$2,767$2,360$2,005$1,699$827
16 years$2,999$2,539$2,139$1,796$1,502$690
17 years$2,794$2,338$1,947$1,613$1,331$576
18 years$2,611$2,161$1,777$1,454$1,184$482
19 years$2,448$2,002$1,627$1,314$1,055$404
20 years$2,301$1,861$1,493$1,190$943$339
21 years$2,168$1,733$1,373$1,080$843$285
22 years$2,048$1,618$1,266$982$756$239
23 years$1,938$1,513$1,169$894$679$201
24 years$1,838$1,418$1,081$816$610$170
25 years$1,745$1,330$1,001$745$549$143
26 years$1,660$1,250$928$681$494$120
27 years$1,582$1,177$862$623$446$101
28 years$1,509$1,109$801$571$402$86
29 years$1,441$1,046$746$524$363$72
30 years$1,378$988$695$481$328$61
31 years$1,319$934$648$441$297$51
32 years$1,264$884$604$406$268$43
33 years$1,212$837$564$373$243$37
34 years$1,164$793$527$343$220$31
35 years$1,118$752$493$316$199$26
36 years$1,075$714$461$291$180$22
37 years$1,035$678$432$268$164$19
38 years$996$645$404$247$148$16
39 years$960$613$379$228$134$13
40 years$926$583$355$210$122$11
41 years$893$555$333$194$111$9
42 years$862$529$312$179$100$8
43 years$832$504$293$165$91$7
44 years$804$480$275$153$83$6
45 years$778$458$258$141$75$5
46 years$752$437$242$130$68$4
47 years$728$417$228$120$62$3
48 years$705$398$214$111$56$3
49 years$682$380$201$103$51$2
50 years$661$363$189$95$46$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $677,000, adding $2,886 every year, while hoping to spend $52,477 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: 40/36/24 Blend
60$677,000$677,000$677,000$677,000
61$749,031$713,150$702,656$773,576
62$769,597$692,259$670,360$770,651
63$790,502$668,586$635,223$762,328
64$811,725$641,938$597,095$752,283
65$833,241$612,114$555,818$740,391
66$855,022$578,898$511,229$726,516
67$877,034$542,063$463,154$710,516
68$899,236$501,369$411,415$692,239
69$921,585$456,563$355,824$671,522
70$944,028$407,376$296,185$648,192
71$966,507$353,525$232,295$622,067
72$988,953$294,710$163,939$592,950
73$1,011,290$230,615$90,895$560,633
74$1,033,431$160,905$12,930$524,893
75$1,055,280$85,227$0$485,496
76$1,076,724$3,210$0$460,183
77$1,097,641$0$0$435,394
78$1,117,891$0$0$441,482
79$1,137,317$0$0$448,430
80$1,155,745$0$0$454,887
81$1,172,979$0$0$460,764
82$1,188,800$0$0$465,965
83$1,202,964$0$0$470,380
84$1,215,200$0$0$473,887
85$1,225,205$0$0$476,351
86$1,232,640$0$0$477,622
87$1,237,131$0$0$477,531
88$1,238,262$0$0$475,894
89$1,235,568$0$0$472,504
90$1,228,537$0$0$467,132
91$1,216,597$0$0$459,525
92$1,199,115$0$0$449,402
93$1,175,391$0$0$436,450
94$1,144,647$0$0$420,326
95$1,106,022$0$0$400,647
96$1,058,563$0$0$376,990
97$1,001,215$0$0$348,887
98$932,809$0$0$315,822
99$852,054$0$0$277,221
100$757,521$0$0$232,453