Can I retire at age 61 with 689,000?

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 $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%12.8%
1 years$56,897$56,390$55,896$55,413$54,942$54,300
2 years$28,167$27,642$27,134$26,641$26,163$25,517
3 years$18,591$18,065$17,557$17,069$16,599$15,969
4 years$13,805$13,279$12,777$12,297$11,838$11,229
5 years$10,933$10,411$9,916$9,446$8,999$8,413
6 years$9,020$8,501$8,013$7,554$7,121$6,557
7 years$7,653$7,140$6,659$6,210$5,791$5,251
8 years$6,629$6,120$5,647$5,210$4,804$4,288
9 years$5,833$5,328$4,864$4,437$4,046$3,552
10 years$5,196$4,697$4,241$3,825$3,447$2,977
11 years$4,676$4,181$3,733$3,329$2,965$2,517
12 years$4,242$3,753$3,313$2,920$2,569$2,143
13 years$3,876$3,392$2,960$2,578$2,240$1,836
14 years$3,562$3,083$2,660$2,288$1,964$1,580
15 years$3,290$2,816$2,401$2,041$1,729$1,365
16 years$3,053$2,584$2,177$1,827$1,528$1,184
17 years$2,843$2,380$1,981$1,642$1,355$1,030
18 years$2,657$2,199$1,809$1,480$1,205$898
19 years$2,491$2,038$1,656$1,337$1,074$784
20 years$2,342$1,894$1,519$1,211$959$687
21 years$2,207$1,764$1,398$1,099$858$602
22 years$2,084$1,647$1,288$999$769$528
23 years$1,973$1,540$1,189$910$691$465
24 years$1,870$1,443$1,100$830$621$409
25 years$1,776$1,354$1,019$758$559$360
26 years$1,690$1,273$945$693$503$317
27 years$1,610$1,198$877$634$454$280
28 years$1,536$1,129$816$581$409$247
29 years$1,467$1,065$759$533$370$218
30 years$1,403$1,005$707$489$334$193
31 years$1,343$950$659$449$302$170
32 years$1,286$899$615$413$273$150
33 years$1,234$852$574$380$247$133
34 years$1,185$807$537$349$224$118
35 years$1,138$766$502$322$203$104
36 years$1,094$727$469$296$184$92
37 years$1,053$690$439$273$166$82
38 years$1,014$656$411$252$151$72
39 years$977$624$385$232$137$64
40 years$942$593$361$214$124$57
41 years$909$565$339$197$113$50
42 years$877$538$318$182$102$44
43 years$847$513$298$168$93$39
44 years$819$489$280$155$84$35
45 years$791$466$263$143$76$31
46 years$765$444$247$132$69$27
47 years$741$424$232$122$63$24
48 years$717$405$218$113$57$22
49 years$694$387$205$104$52$19
50 years$673$369$193$97$47$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $689,000, adding $4,828 every year, while hoping to spend $45,181 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: 66/13/21 Blend
60$689,000$689,000$689,000$689,000
61$764,258$727,741$717,062$810,328
62$794,140$715,328$693,011$829,432
63$825,556$700,793$666,640$844,698
64$858,614$683,983$637,824$860,321
65$893,433$664,739$606,432$876,338
66$930,142$642,889$572,326$892,789
67$968,880$618,255$535,363$909,721
68$1,009,802$590,645$495,393$927,187
69$1,053,074$559,859$452,261$945,247
70$1,098,878$525,682$405,802$963,970
71$1,147,413$487,890$355,846$983,431
72$1,198,897$446,245$302,215$1,003,719
73$1,253,567$400,494$244,722$1,024,932
74$1,311,684$350,371$183,173$1,047,180
75$1,373,532$295,595$117,365$1,070,588
76$1,439,422$235,869$47,087$1,095,296
77$1,509,695$170,879$0$1,121,462
78$1,584,725$100,293$0$1,155,517
79$1,664,921$23,761$0$1,203,069
80$1,750,731$0$0$1,253,833
81$1,842,648$0$0$1,316,564
82$1,941,210$0$0$1,387,506
83$2,047,009$0$0$1,463,689
84$2,160,696$0$0$1,545,584
85$2,282,983$0$0$1,633,708
86$2,414,653$0$0$1,728,632
87$2,556,566$0$0$1,830,979
88$2,709,666$0$0$1,941,435
89$2,874,990$0$0$2,060,754
90$3,053,679$0$0$2,189,764
91$3,246,986$0$0$2,329,376
92$3,456,288$0$0$2,480,590
93$3,683,099$0$0$2,644,507
94$3,929,084$0$0$2,822,337
95$4,196,074$0$0$3,015,410
96$4,486,083$0$0$3,225,191
97$4,801,327$0$0$3,453,289
98$5,144,242$0$0$3,701,475
99$5,517,509$0$0$3,971,699
100$5,924,079$0$0$4,266,104