Can I retire at age 61 with 677,000?

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 $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%19.1%
1 years$55,906$55,408$54,922$54,448$53,985$52,007
2 years$27,676$27,161$26,661$26,177$25,707$23,737
3 years$18,268$17,750$17,252$16,772$16,310$14,409
4 years$13,564$13,048$12,555$12,083$11,632$9,815
5 years$10,743$10,230$9,743$9,281$8,843$7,114
6 years$8,863$8,353$7,874$7,422$6,997$5,358
7 years$7,520$7,015$6,543$6,102$5,690$4,140
8 years$6,514$6,013$5,549$5,119$4,721$3,258
9 years$5,731$5,236$4,779$4,360$3,975$2,599
10 years$5,106$4,615$4,167$3,759$3,387$2,094
11 years$4,594$4,108$3,668$3,271$2,913$1,701
12 years$4,168$3,688$3,256$2,869$2,525$1,390
13 years$3,808$3,332$2,909$2,533$2,201$1,142
14 years$3,500$3,029$2,613$2,249$1,930$941
15 years$3,233$2,767$2,360$2,005$1,699$778
16 years$2,999$2,539$2,139$1,796$1,502$645
17 years$2,794$2,338$1,947$1,613$1,331$536
18 years$2,611$2,161$1,777$1,454$1,184$446
19 years$2,448$2,002$1,627$1,314$1,055$372
20 years$2,301$1,861$1,493$1,190$943$311
21 years$2,168$1,733$1,373$1,080$843$260
22 years$2,048$1,618$1,266$982$756$217
23 years$1,938$1,513$1,169$894$679$182
24 years$1,838$1,418$1,081$816$610$152
25 years$1,745$1,330$1,001$745$549$127
26 years$1,660$1,250$928$681$494$107
27 years$1,582$1,177$862$623$446$89
28 years$1,509$1,109$801$571$402$75
29 years$1,441$1,046$746$524$363$63
30 years$1,378$988$695$481$328$53
31 years$1,319$934$648$441$297$44
32 years$1,264$884$604$406$268$37
33 years$1,212$837$564$373$243$31
34 years$1,164$793$527$343$220$26
35 years$1,118$752$493$316$199$22
36 years$1,075$714$461$291$180$18
37 years$1,035$678$432$268$164$15
38 years$996$645$404$247$148$13
39 years$960$613$379$228$134$11
40 years$926$583$355$210$122$9
41 years$893$555$333$194$111$8
42 years$862$529$312$179$100$6
43 years$832$504$293$165$91$5
44 years$804$480$275$153$83$5
45 years$778$458$258$141$75$4
46 years$752$437$242$130$68$3
47 years$728$417$228$120$62$3
48 years$705$398$214$111$56$2
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 $3,506 every year, while hoping to spend $49,207 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: 29/42/29 Blend
60$677,000$677,000$677,000$677,000
61$749,670$713,789$703,296$764,633
62$773,781$696,409$674,500$759,402
63$798,702$676,528$643,091$749,291
64$824,463$653,972$608,928$737,449
65$851,097$628,556$571,867$723,760
66$878,638$600,084$531,753$708,103
67$907,121$568,350$488,429$690,351
68$936,583$533,135$441,727$670,370
69$967,065$494,208$391,475$648,019
70$998,606$451,325$337,490$623,147
71$1,031,250$404,227$279,582$595,600
72$1,065,045$352,641$217,555$565,213
73$1,100,037$296,278$151,201$531,810
74$1,136,279$234,833$80,304$495,211
75$1,173,824$167,985$4,640$455,224
76$1,212,731$95,394$0$411,646
77$1,253,061$16,699$0$387,815
78$1,294,879$0$0$363,022
79$1,338,252$0$0$367,323
80$1,383,256$0$0$379,804
81$1,429,968$0$0$392,771
82$1,478,472$0$0$406,249
83$1,528,856$0$0$420,264
84$1,581,216$0$0$434,845
85$1,635,654$0$0$450,022
86$1,692,280$0$0$465,829
87$1,751,209$0$0$482,299
88$1,812,568$0$0$499,472
89$1,876,492$0$0$517,387
90$1,943,126$0$0$536,089
91$2,012,627$0$0$555,626
92$2,085,162$0$0$576,049
93$2,160,915$0$0$597,412
94$2,240,080$0$0$619,777
95$2,322,872$0$0$643,208
96$2,409,518$0$0$667,776
97$2,500,269$0$0$693,557
98$2,595,393$0$0$720,634
99$2,695,183$0$0$749,098
100$2,799,955$0$0$779,046