Can I retire at age 61 with 687,000?

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 $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%13.2%
1 years$56,732$56,226$55,733$55,252$54,782$54,053
2 years$28,085$27,562$27,055$26,564$26,087$25,353
3 years$18,537$18,012$17,506$17,020$16,551$15,835
4 years$13,764$13,241$12,740$12,262$11,804$11,113
5 years$10,901$10,381$9,887$9,418$8,973$8,308
6 years$8,993$8,477$7,990$7,532$7,100$6,462
7 years$7,631$7,119$6,640$6,192$5,774$5,163
8 years$6,610$6,102$5,631$5,195$4,790$4,206
9 years$5,816$5,313$4,850$4,425$4,034$3,477
10 years$5,181$4,683$4,228$3,814$3,437$2,906
11 years$4,662$4,169$3,723$3,319$2,956$2,451
12 years$4,230$3,742$3,304$2,912$2,562$2,082
13 years$3,864$3,382$2,952$2,570$2,234$1,778
14 years$3,552$3,074$2,652$2,282$1,958$1,527
15 years$3,281$2,808$2,394$2,035$1,724$1,316
16 years$3,044$2,576$2,171$1,822$1,524$1,138
17 years$2,835$2,373$1,975$1,637$1,351$987
18 years$2,649$2,192$1,803$1,475$1,201$858
19 years$2,484$2,032$1,651$1,333$1,071$747
20 years$2,335$1,888$1,515$1,207$956$652
21 years$2,200$1,759$1,394$1,096$856$570
22 years$2,078$1,642$1,284$996$767$499
23 years$1,967$1,535$1,186$907$689$437
24 years$1,865$1,439$1,097$828$619$384
25 years$1,771$1,350$1,016$756$557$337
26 years$1,685$1,269$942$691$502$296
27 years$1,605$1,194$875$633$452$260
28 years$1,531$1,125$813$580$408$229
29 years$1,462$1,062$757$531$369$201
30 years$1,398$1,003$705$488$333$177
31 years$1,339$948$657$448$301$156
32 years$1,283$897$613$412$272$138
33 years$1,230$849$573$379$246$121
34 years$1,181$805$535$348$223$107
35 years$1,135$763$500$321$202$94
36 years$1,091$725$468$295$183$83
37 years$1,050$688$438$272$166$73
38 years$1,011$654$410$251$150$65
39 years$974$622$384$231$136$57
40 years$939$592$360$213$124$50
41 years$906$563$338$197$112$45
42 years$875$536$317$182$102$39
43 years$845$511$297$168$92$35
44 years$816$487$279$155$84$31
45 years$789$465$262$143$76$27
46 years$763$443$246$132$69$24
47 years$739$423$231$122$63$21
48 years$715$404$217$113$57$19
49 years$692$386$204$104$52$16
50 years$671$368$192$96$47$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $687,000, adding $2,496 every year, while hoping to spend $29,103 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: 46/48/6 Blend
60$687,000$687,000$687,000$687,000
61$759,649$723,238$712,589$793,247
62$806,167$727,711$705,495$821,071
63$856,456$731,428$697,189$847,990
64$910,867$734,321$687,598$876,507
65$969,791$736,318$676,648$906,778
66$1,033,654$737,342$664,260$938,977
67$1,102,928$737,313$650,353$973,296
68$1,178,128$736,142$634,841$1,009,948
69$1,259,823$733,740$617,635$1,049,169
70$1,348,640$730,008$598,641$1,091,223
71$1,445,266$724,843$577,760$1,136,400
72$1,550,458$718,135$554,890$1,185,022
73$1,665,050$709,769$529,924$1,237,446
74$1,789,958$699,621$502,749$1,294,069
75$1,926,192$687,560$473,249$1,355,329
76$2,074,861$673,448$441,301$1,421,712
77$2,237,189$657,140$406,777$1,493,756
78$2,414,522$638,479$369,543$1,572,056
79$2,608,340$617,301$329,460$1,657,274
80$2,820,275$593,433$286,381$1,750,139
81$3,052,123$566,691$240,154$1,851,459
82$3,305,861$536,881$190,621$1,962,129
83$3,583,666$503,795$137,615$2,083,140
84$3,887,937$467,218$80,962$2,215,586
85$4,221,314$426,919$20,481$2,360,679
86$4,586,704$382,654$0$2,519,759
87$4,987,311$334,168$0$2,697,130
88$5,426,662$281,187$0$2,893,191
89$5,908,643$223,426$0$3,108,455
90$6,437,531$160,581$0$3,344,939
91$7,018,042$92,332$0$3,604,871
92$7,655,367$18,341$0$3,890,714
93$8,355,226$0$0$4,205,185
94$9,123,920$0$0$4,583,906
95$9,968,389$0$0$5,010,686
96$10,896,279$0$0$5,479,714
97$11,916,014$0$0$5,995,258
98$13,036,875$0$0$6,562,020
99$14,269,083$0$0$7,185,183
100$15,623,905$0$0$7,870,453