Can I retire at age 61 with 688,000?

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 $688,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$56,814$56,308$55,815$55,333$54,862$54,199
2 years$28,126$27,602$27,094$26,602$26,125$25,457
3 years$18,564$18,038$17,532$17,044$16,575$15,924
4 years$13,785$13,260$12,759$12,279$11,821$11,192
5 years$10,917$10,396$9,901$9,432$8,986$8,380
6 years$9,007$8,489$8,002$7,543$7,111$6,529
7 years$7,642$7,129$6,649$6,201$5,783$5,225
8 years$6,619$6,111$5,639$5,202$4,797$4,264
9 years$5,824$5,321$4,857$4,431$4,040$3,531
10 years$5,189$4,690$4,235$3,820$3,442$2,957
11 years$4,669$4,175$3,728$3,324$2,961$2,498
12 years$4,236$3,747$3,309$2,916$2,566$2,126
13 years$3,870$3,387$2,956$2,574$2,237$1,820
14 years$3,557$3,078$2,656$2,285$1,961$1,565
15 years$3,285$2,812$2,398$2,038$1,727$1,352
16 years$3,048$2,580$2,174$1,825$1,526$1,172
17 years$2,839$2,376$1,978$1,639$1,353$1,018
18 years$2,653$2,196$1,806$1,477$1,203$887
19 years$2,487$2,035$1,653$1,335$1,072$775
20 years$2,338$1,891$1,517$1,209$958$677
21 years$2,204$1,761$1,396$1,097$857$593
22 years$2,081$1,644$1,286$998$768$521
23 years$1,970$1,538$1,188$909$690$457
24 years$1,868$1,441$1,098$829$620$402
25 years$1,774$1,352$1,017$757$558$354
26 years$1,687$1,271$944$692$502$312
27 years$1,607$1,196$876$633$453$275
28 years$1,533$1,127$814$580$409$242
29 years$1,465$1,063$758$532$369$214
30 years$1,400$1,004$706$488$334$189
31 years$1,341$949$658$449$302$166
32 years$1,285$898$614$412$273$147
33 years$1,232$850$573$379$247$130
34 years$1,183$806$536$349$223$115
35 years$1,136$765$501$321$202$102
36 years$1,093$726$469$296$183$90
37 years$1,051$689$439$272$166$79
38 years$1,012$655$411$251$151$70
39 years$976$623$385$232$137$62
40 years$941$593$361$214$124$55
41 years$907$564$338$197$112$49
42 years$876$537$317$182$102$43
43 years$846$512$298$168$93$38
44 years$817$488$279$155$84$34
45 years$790$465$262$143$76$30
46 years$764$444$246$132$69$26
47 years$740$424$232$122$63$23
48 years$716$404$218$113$57$21
49 years$693$386$204$104$52$18
50 years$672$369$192$96$47$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $688,000, adding $6,407 every year, while hoping to spend $43,307 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: 35/41/24 Blend
60$688,000$688,000$688,000$688,000
61$764,785$728,321$717,657$785,807
62$796,715$717,930$695,620$791,550
63$830,450$705,579$671,394$793,333
64$866,129$691,125$644,858$794,392
65$903,902$674,419$615,890$794,689
66$943,936$655,301$584,358$794,188
67$986,410$633,604$550,126$792,853
68$1,031,521$609,148$513,053$790,647
69$1,079,486$581,745$472,989$787,535
70$1,130,539$551,197$429,780$783,485
71$1,184,940$517,291$383,264$778,466
72$1,242,971$479,805$333,270$772,448
73$1,304,941$438,503$279,622$765,406
74$1,371,191$393,136$222,135$757,318
75$1,442,093$343,440$160,617$748,166
76$1,518,054$289,136$94,866$737,939
77$1,599,523$229,931$24,671$726,630
78$1,686,990$165,514$0$714,241
79$1,780,995$95,556$0$713,647
80$1,882,130$19,711$0$719,581
81$1,991,043$0$0$725,812
82$2,108,449$0$0$760,595
83$2,235,132$0$0$807,799
84$2,371,952$0$0$858,860
85$2,519,856$0$0$914,143
86$2,679,884$0$0$974,046
87$2,853,180$0$0$1,039,009
88$3,041,001$0$0$1,109,516
89$3,244,728$0$0$1,186,096
90$3,465,882$0$0$1,269,335
91$3,706,134$0$0$1,359,876
92$3,967,325$0$0$1,458,425
93$4,251,476$0$0$1,565,762
94$4,560,815$0$0$1,682,742
95$4,897,791$0$0$1,810,308
96$5,265,099$0$0$1,949,497
97$5,665,706$0$0$2,101,452
98$6,102,877$0$0$2,267,429
99$6,580,207$0$0$2,448,812
100$7,101,652$0$0$2,647,124