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%14.8%
1 years$56,897$56,390$55,896$55,413$54,942$53,855
2 years$28,167$27,642$27,134$26,641$26,163$25,072
3 years$18,591$18,065$17,557$17,069$16,599$15,538
4 years$13,805$13,279$12,777$12,297$11,838$10,817
5 years$10,933$10,411$9,916$9,446$8,999$8,019
6 years$9,020$8,501$8,013$7,554$7,121$6,183
7 years$7,653$7,140$6,659$6,210$5,791$4,896
8 years$6,629$6,120$5,647$5,210$4,804$3,952
9 years$5,833$5,328$4,864$4,437$4,046$3,236
10 years$5,196$4,697$4,241$3,825$3,447$2,678
11 years$4,676$4,181$3,733$3,329$2,965$2,236
12 years$4,242$3,753$3,313$2,920$2,569$1,880
13 years$3,876$3,392$2,960$2,578$2,240$1,589
14 years$3,562$3,083$2,660$2,288$1,964$1,350
15 years$3,290$2,816$2,401$2,041$1,729$1,151
16 years$3,053$2,584$2,177$1,827$1,528$984
17 years$2,843$2,380$1,981$1,642$1,355$844
18 years$2,657$2,199$1,809$1,480$1,205$725
19 years$2,491$2,038$1,656$1,337$1,074$624
20 years$2,342$1,894$1,519$1,211$959$538
21 years$2,207$1,764$1,398$1,099$858$465
22 years$2,084$1,647$1,288$999$769$402
23 years$1,973$1,540$1,189$910$691$348
24 years$1,870$1,443$1,100$830$621$301
25 years$1,776$1,354$1,019$758$559$261
26 years$1,690$1,273$945$693$503$227
27 years$1,610$1,198$877$634$454$197
28 years$1,536$1,129$816$581$409$171
29 years$1,467$1,065$759$533$370$148
30 years$1,403$1,005$707$489$334$129
31 years$1,343$950$659$449$302$112
32 years$1,286$899$615$413$273$97
33 years$1,234$852$574$380$247$85
34 years$1,185$807$537$349$224$74
35 years$1,138$766$502$322$203$64
36 years$1,094$727$469$296$184$56
37 years$1,053$690$439$273$166$49
38 years$1,014$656$411$252$151$42
39 years$977$624$385$232$137$37
40 years$942$593$361$214$124$32
41 years$909$565$339$197$113$28
42 years$877$538$318$182$102$24
43 years$847$513$298$168$93$21
44 years$819$489$280$155$84$18
45 years$791$466$263$143$76$16
46 years$765$444$247$132$69$14
47 years$741$424$232$122$63$12
48 years$717$405$218$113$57$11
49 years$694$387$205$104$52$9
50 years$673$369$193$97$47$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $689,000, adding $6,935 every year, while hoping to spend $48,952 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: 72/21/7 Blend
60$689,000$689,000$689,000$689,000
61$766,431$729,914$719,235$820,328
62$792,523$713,596$691,245$840,509
63$819,635$694,837$660,676$855,818
64$847,820$673,466$627,391$871,211
65$877,135$649,303$591,246$886,683
66$907,639$622,155$552,089$902,227
67$939,397$591,819$509,762$917,841
68$972,478$558,081$464,102$933,518
69$1,006,957$520,714$414,936$949,257
70$1,042,915$479,477$362,085$965,055
71$1,080,438$434,117$305,361$980,912
72$1,119,619$384,365$244,567$996,829
73$1,160,560$329,939$179,499$1,012,809
74$1,203,369$270,537$109,944$1,028,856
75$1,248,164$205,845$35,678$1,044,979
76$1,295,072$135,527$0$1,061,189
77$1,344,233$59,231$0$1,080,755
78$1,395,795$0$0$1,103,496
79$1,449,922$0$0$1,132,199
80$1,506,791$0$0$1,176,746
81$1,566,592$0$0$1,223,603
82$1,629,536$0$0$1,272,934
83$1,695,849$0$0$1,324,919
84$1,765,780$0$0$1,379,755
85$1,839,597$0$0$1,437,654
86$1,917,596$0$0$1,498,850
87$2,000,096$0$0$1,563,596
88$2,087,450$0$0$1,632,169
89$2,180,038$0$0$1,704,874
90$2,278,281$0$0$1,782,040
91$2,382,634$0$0$1,864,031
92$2,493,598$0$0$1,951,241
93$2,611,720$0$0$2,044,105
94$2,737,600$0$0$2,143,097
95$2,871,894$0$0$2,248,736
96$3,015,320$0$0$2,361,593
97$3,168,665$0$0$2,482,291
98$3,332,794$0$0$2,611,514
99$3,508,654$0$0$2,750,013
100$3,697,282$0$0$2,898,610