Can I retire at age 61 with 687,000?

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 $687,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.4%
1 years$56,732$56,226$55,733$55,252$54,782$53,567
2 years$28,085$27,562$27,055$26,564$26,087$24,869
3 years$18,537$18,012$17,506$17,020$16,551$15,368
4 years$13,764$13,241$12,740$12,262$11,804$10,665
5 years$10,901$10,381$9,887$9,418$8,973$7,882
6 years$8,993$8,477$7,990$7,532$7,100$6,058
7 years$7,631$7,119$6,640$6,192$5,774$4,781
8 years$6,610$6,102$5,631$5,195$4,790$3,845
9 years$5,816$5,313$4,850$4,425$4,034$3,137
10 years$5,181$4,683$4,228$3,814$3,437$2,587
11 years$4,662$4,169$3,723$3,319$2,956$2,152
12 years$4,230$3,742$3,304$2,912$2,562$1,802
13 years$3,864$3,382$2,952$2,570$2,234$1,517
14 years$3,552$3,074$2,652$2,282$1,958$1,283
15 years$3,281$2,808$2,394$2,035$1,724$1,089
16 years$3,044$2,576$2,171$1,822$1,524$928
17 years$2,835$2,373$1,975$1,637$1,351$792
18 years$2,649$2,192$1,803$1,475$1,201$678
19 years$2,484$2,032$1,651$1,333$1,071$581
20 years$2,335$1,888$1,515$1,207$956$499
21 years$2,200$1,759$1,394$1,096$856$429
22 years$2,078$1,642$1,284$996$767$369
23 years$1,967$1,535$1,186$907$689$318
24 years$1,865$1,439$1,097$828$619$274
25 years$1,771$1,350$1,016$756$557$236
26 years$1,685$1,269$942$691$502$204
27 years$1,605$1,194$875$633$452$176
28 years$1,531$1,125$813$580$408$152
29 years$1,462$1,062$757$531$369$132
30 years$1,398$1,003$705$488$333$114
31 years$1,339$948$657$448$301$98
32 years$1,283$897$613$412$272$85
33 years$1,230$849$573$379$246$74
34 years$1,181$805$535$348$223$64
35 years$1,135$763$500$321$202$55
36 years$1,091$725$468$295$183$48
37 years$1,050$688$438$272$166$41
38 years$1,011$654$410$251$150$36
39 years$974$622$384$231$136$31
40 years$939$592$360$213$124$27
41 years$906$563$338$197$112$23
42 years$875$536$317$182$102$20
43 years$845$511$297$168$92$17
44 years$816$487$279$155$84$15
45 years$789$465$262$143$76$13
46 years$763$443$246$132$69$11
47 years$739$423$231$122$63$10
48 years$715$404$217$113$57$9
49 years$692$386$204$104$52$7
50 years$671$368$192$96$47$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $687,000, adding $2,118 every year, while hoping to spend $51,511 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: 60/24/16 Blend
60$687,000$687,000$687,000$687,000
61$759,259$722,848$712,199$801,604
62$781,896$703,460$681,251$811,037
63$805,115$681,396$647,539$815,395
64$828,923$656,470$610,917$818,945
65$853,321$628,485$571,231$821,613
66$878,314$597,235$528,321$823,324
67$903,901$562,499$482,019$823,993
68$930,082$524,044$432,150$823,535
69$956,855$481,626$378,531$821,854
70$984,213$434,985$320,970$818,850
71$1,012,148$383,845$259,269$814,417
72$1,040,651$327,917$193,218$808,439
73$1,069,707$266,895$122,601$800,795
74$1,099,299$200,454$47,189$791,354
75$1,129,404$128,253$0$779,976
76$1,159,996$49,930$0$772,195
77$1,191,043$0$0$771,136
78$1,222,508$0$0$777,823
79$1,254,346$0$0$797,914
80$1,286,508$0$0$818,188
81$1,318,932$0$0$838,605
82$1,351,552$0$0$859,118
83$1,384,288$0$0$879,676
84$1,417,053$0$0$900,218
85$1,449,743$0$0$920,676
86$1,482,245$0$0$940,973
87$1,514,428$0$0$961,021
88$1,546,145$0$0$980,722
89$1,577,230$0$0$999,965
90$1,607,497$0$0$1,018,627
91$1,636,738$0$0$1,036,566
92$1,664,717$0$0$1,053,628
93$1,691,172$0$0$1,069,638
94$1,715,811$0$0$1,084,399
95$1,738,305$0$0$1,097,694
96$1,758,289$0$0$1,109,280
97$1,775,356$0$0$1,118,885
98$1,789,051$0$0$1,126,209
99$1,798,871$0$0$1,130,915
100$1,804,254$0$0$1,132,632