Can I retire at age 61 with 691,000?

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 $691,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$57,062$56,554$56,058$55,574$55,101$54,846
2 years$28,249$27,722$27,213$26,718$26,239$25,981
3 years$18,645$18,117$17,608$17,119$16,647$16,395
4 years$13,845$13,318$12,814$12,333$11,873$11,628
5 years$10,965$10,441$9,944$9,473$9,025$8,789
6 years$9,046$8,526$8,037$7,576$7,142$6,914
7 years$7,676$7,160$6,678$6,228$5,808$5,589
8 years$6,648$6,138$5,664$5,225$4,818$4,608
9 years$5,850$5,344$4,878$4,450$4,058$3,856
10 years$5,211$4,710$4,253$3,836$3,457$3,264
11 years$4,689$4,193$3,744$3,339$2,973$2,789
12 years$4,255$3,764$3,323$2,928$2,577$2,400
13 years$3,887$3,401$2,969$2,585$2,247$2,078
14 years$3,572$3,092$2,668$2,295$1,970$1,809
15 years$3,300$2,824$2,408$2,047$1,734$1,581
16 years$3,061$2,591$2,184$1,833$1,533$1,387
17 years$2,851$2,386$1,987$1,647$1,359$1,221
18 years$2,665$2,205$1,814$1,484$1,208$1,077
19 years$2,498$2,044$1,660$1,341$1,077$953
20 years$2,348$1,899$1,524$1,214$962$845
21 years$2,213$1,769$1,402$1,102$861$750
22 years$2,090$1,651$1,292$1,002$772$667
23 years$1,978$1,544$1,193$913$693$594
24 years$1,876$1,447$1,103$832$623$529
25 years$1,782$1,358$1,022$760$560$472
26 years$1,695$1,276$948$695$505$422
27 years$1,614$1,201$880$636$455$377
28 years$1,540$1,132$818$583$411$337
29 years$1,471$1,068$761$535$371$302
30 years$1,407$1,008$709$491$335$270
31 years$1,346$953$661$451$303$242
32 years$1,290$902$617$414$274$217
33 years$1,237$854$576$381$248$195
34 years$1,188$810$538$350$224$175
35 years$1,141$768$503$323$203$157
36 years$1,097$729$471$297$184$141
37 years$1,056$692$440$274$167$126
38 years$1,017$658$412$252$151$114
39 years$980$626$386$233$137$102
40 years$945$595$362$215$124$92
41 years$911$567$340$198$113$82
42 years$880$540$319$183$102$74
43 years$850$514$299$169$93$67
44 years$821$490$281$156$84$60
45 years$794$467$264$144$77$54
46 years$768$446$247$133$70$48
47 years$743$425$233$123$63$44
48 years$719$406$218$113$57$39
49 years$696$388$205$105$52$35
50 years$675$370$193$97$47$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $691,000, adding $3,536 every year, while hoping to spend $58,734 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: 59/23/18 Blend
60$691,000$691,000$691,000$691,000
61$765,129$728,506$717,796$806,488
62$780,680$701,711$679,350$808,106
63$795,848$671,633$637,647$803,106
64$810,533$638,052$592,516$796,313
65$824,622$600,730$543,780$787,564
66$837,987$559,420$491,250$776,682
67$850,486$513,856$434,732$763,474
68$861,962$463,762$374,021$747,734
69$872,237$408,841$308,906$729,234
70$881,115$348,784$239,164$707,731
71$888,375$283,260$164,562$682,960
72$893,774$211,924$84,859$654,634
73$897,038$134,408$0$622,439
74$897,867$50,325$0$586,075
75$895,925$0$0$562,532
76$890,838$0$0$545,457
77$882,193$0$0$538,774
78$869,533$0$0$529,446
79$852,347$0$0$517,141
80$830,074$0$0$501,492
81$802,088$0$0$482,093
82$767,699$0$0$458,493
83$726,142$0$0$430,193
84$676,571$0$0$396,642
85$618,049$0$0$357,230
86$549,540$0$0$311,281
87$469,900$0$0$258,051
88$377,862$0$0$196,715
89$272,027$0$0$126,361
90$150,849$0$0$45,982
91$12,620$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0