Can I retire at age 61 with 689,000?

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 $689,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$56,897$56,390$55,896$55,413$54,942$54,618
2 years$28,167$27,642$27,134$26,641$26,163$25,837
3 years$18,591$18,065$17,557$17,069$16,599$16,280
4 years$13,805$13,279$12,777$12,297$11,838$11,529
5 years$10,933$10,411$9,916$9,446$8,999$8,701
6 years$9,020$8,501$8,013$7,554$7,121$6,833
7 years$7,653$7,140$6,659$6,210$5,791$5,515
8 years$6,629$6,120$5,647$5,210$4,804$4,539
9 years$5,833$5,328$4,864$4,437$4,046$3,792
10 years$5,196$4,697$4,241$3,825$3,447$3,204
11 years$4,676$4,181$3,733$3,329$2,965$2,732
12 years$4,242$3,753$3,313$2,920$2,569$2,347
13 years$3,876$3,392$2,960$2,578$2,240$2,029
14 years$3,562$3,083$2,660$2,288$1,964$1,762
15 years$3,290$2,816$2,401$2,041$1,729$1,537
16 years$3,053$2,584$2,177$1,827$1,528$1,346
17 years$2,843$2,380$1,981$1,642$1,355$1,182
18 years$2,657$2,199$1,809$1,480$1,205$1,041
19 years$2,491$2,038$1,656$1,337$1,074$919
20 years$2,342$1,894$1,519$1,211$959$812
21 years$2,207$1,764$1,398$1,099$858$720
22 years$2,084$1,647$1,288$999$769$639
23 years$1,973$1,540$1,189$910$691$567
24 years$1,870$1,443$1,100$830$621$504
25 years$1,776$1,354$1,019$758$559$449
26 years$1,690$1,273$945$693$503$400
27 years$1,610$1,198$877$634$454$357
28 years$1,536$1,129$816$581$409$319
29 years$1,467$1,065$759$533$370$284
30 years$1,403$1,005$707$489$334$254
31 years$1,343$950$659$449$302$227
32 years$1,286$899$615$413$273$203
33 years$1,234$852$574$380$247$182
34 years$1,185$807$537$349$224$163
35 years$1,138$766$502$322$203$146
36 years$1,094$727$469$296$184$130
37 years$1,053$690$439$273$166$117
38 years$1,014$656$411$252$151$105
39 years$977$624$385$232$137$94
40 years$942$593$361$214$124$84
41 years$909$565$339$197$113$75
42 years$877$538$318$182$102$68
43 years$847$513$298$168$93$61
44 years$819$489$280$155$84$54
45 years$791$466$263$143$76$49
46 years$765$444$247$132$69$44
47 years$741$424$232$122$63$39
48 years$717$405$218$113$57$35
49 years$694$387$205$104$52$32
50 years$673$369$193$97$47$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $689,000, adding $4,409 every year, while hoping to spend $48,743 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: 75/9/16 Blend
60$689,000$689,000$689,000$689,000
61$763,826$727,309$716,629$818,077
62$789,874$711,085$688,774$838,334
63$816,945$692,432$658,352$854,058
64$845,093$671,180$625,226$869,983
65$874,373$647,149$589,252$886,116
66$904,847$620,147$550,280$902,464
67$936,580$589,973$508,153$919,035
68$969,642$556,412$462,707$935,842
69$1,004,108$519,240$413,770$952,897
70$1,040,060$478,216$361,165$970,215
71$1,077,586$433,088$304,704$987,813
72$1,116,780$383,589$244,191$1,005,714
73$1,157,744$329,437$179,424$1,023,940
74$1,200,588$270,334$110,189$1,042,520
75$1,245,432$205,964$36,264$1,061,487
76$1,292,405$135,995$0$1,080,878
77$1,341,648$60,077$0$1,108,012
78$1,393,312$0$0$1,142,742
79$1,447,562$0$0$1,181,165
80$1,504,578$0$0$1,227,809
81$1,564,555$0$0$1,276,884
82$1,627,704$0$0$1,328,566
83$1,694,257$0$0$1,383,045
84$1,764,465$0$0$1,440,528
85$1,838,602$0$0$1,501,242
86$1,916,968$0$0$1,565,432
87$1,999,887$0$0$1,633,369
88$2,087,717$0$0$1,705,345
89$2,180,847$0$0$1,781,682
90$2,279,701$0$0$1,862,730
91$2,384,746$0$0$1,948,874
92$2,496,490$0$0$2,040,533
93$2,615,489$0$0$2,138,167
94$2,742,353$0$0$2,242,279
95$2,877,750$0$0$2,353,420
96$3,022,412$0$0$2,472,194
97$3,177,139$0$0$2,599,263
98$3,342,812$0$0$2,735,352
99$3,520,393$0$0$2,881,258
100$3,710,942$0$0$3,037,853