Can I retire at age 61 with 690,000?

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 $690,000?

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$56,980$56,472$55,977$55,494$55,022$54,289
2 years$28,208$27,682$27,173$26,680$26,201$25,464
3 years$18,618$18,091$17,583$17,094$16,623$15,905
4 years$13,825$13,299$12,796$12,315$11,856$11,161
5 years$10,949$10,426$9,930$9,459$9,012$8,344
6 years$9,033$8,514$8,025$7,565$7,131$6,490
7 years$7,664$7,150$6,669$6,219$5,800$5,186
8 years$6,639$6,129$5,656$5,217$4,811$4,225
9 years$5,841$5,336$4,871$4,444$4,052$3,492
10 years$5,204$4,704$4,247$3,831$3,452$2,919
11 years$4,682$4,187$3,739$3,334$2,969$2,462
12 years$4,248$3,758$3,318$2,924$2,573$2,091
13 years$3,881$3,396$2,965$2,582$2,244$1,786
14 years$3,567$3,087$2,664$2,292$1,967$1,533
15 years$3,295$2,820$2,405$2,044$1,732$1,322
16 years$3,057$2,588$2,180$1,830$1,531$1,143
17 years$2,847$2,383$1,984$1,644$1,357$991
18 years$2,661$2,202$1,811$1,482$1,207$862
19 years$2,495$2,041$1,658$1,339$1,075$751
20 years$2,345$1,896$1,522$1,213$961$655
21 years$2,210$1,766$1,400$1,101$860$573
22 years$2,087$1,649$1,290$1,001$771$501
23 years$1,975$1,542$1,191$911$692$439
24 years$1,873$1,445$1,102$831$622$385
25 years$1,779$1,356$1,020$759$559$338
26 years$1,692$1,274$946$694$504$297
27 years$1,612$1,199$879$635$454$261
28 years$1,538$1,130$817$582$410$230
29 years$1,469$1,066$760$534$370$202
30 years$1,405$1,007$708$490$334$178
31 years$1,345$952$660$450$302$157
32 years$1,288$901$616$413$274$138
33 years$1,236$853$575$380$248$122
34 years$1,186$808$537$350$224$107
35 years$1,140$767$502$322$203$95
36 years$1,096$728$470$297$184$84
37 years$1,055$691$440$273$167$74
38 years$1,015$657$412$252$151$65
39 years$978$625$386$232$137$57
40 years$943$594$362$214$124$51
41 years$910$566$339$198$113$45
42 years$878$539$318$182$102$39
43 years$848$513$299$168$93$35
44 years$820$489$280$155$84$31
45 years$793$467$263$144$77$27
46 years$767$445$247$133$69$24
47 years$742$425$232$123$63$21
48 years$718$406$218$113$57$19
49 years$695$387$205$105$52$17
50 years$674$370$193$97$47$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $690,000, adding $5,738 every year, while hoping to spend $42,133 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: 49/42/9 Blend
60$690,000$690,000$690,000$690,000
61$766,299$729,729$719,034$801,735
62$799,632$720,656$698,292$817,542
63$834,953$709,727$675,444$829,778
64$872,421$696,806$650,373$842,092
65$912,207$681,749$622,960$854,503
66$954,502$664,404$593,079$867,034
67$999,512$644,611$560,599$879,715
68$1,047,465$622,200$525,381$892,580
69$1,098,607$596,989$487,282$905,670
70$1,153,212$568,788$446,153$919,034
71$1,211,577$537,395$401,836$932,730
72$1,274,028$502,598$354,168$946,825
73$1,340,923$464,170$302,977$961,396
74$1,412,656$421,872$248,085$976,535
75$1,489,656$375,454$189,305$992,346
76$1,572,397$324,647$126,443$1,008,949
77$1,661,398$269,171$59,295$1,026,480
78$1,757,228$208,728$0$1,045,098
79$1,860,513$143,004$0$1,066,168
80$1,971,942$71,667$0$1,094,861
81$2,092,268$0$0$1,125,730
82$2,222,321$0$0$1,161,663
83$2,363,015$0$0$1,236,427
84$2,515,350$0$0$1,317,439
85$2,680,430$0$0$1,405,293
86$2,859,467$0$0$1,500,644
87$3,053,792$0$0$1,604,208
88$3,264,873$0$0$1,716,777
89$3,494,321$0$0$1,839,219
90$3,743,910$0$0$1,972,492
91$4,015,592$0$0$2,117,647
92$4,311,514$0$0$2,275,842
93$4,634,040$0$0$2,448,352
94$4,985,771$0$0$2,636,581
95$5,369,568$0$0$2,842,071
96$5,788,583$0$0$3,066,523
97$6,246,284$0$0$3,311,808
98$6,746,489$0$0$3,579,985
99$7,293,402$0$0$3,873,323
100$7,891,652$0$0$4,194,320