Can I retire at age 61 with 692,000?

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 $692,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$57,145$56,636$56,139$55,654$55,181$54,334
2 years$28,289$27,763$27,252$26,757$26,277$25,425
3 years$18,672$18,143$17,634$17,143$16,671$15,842
4 years$13,865$13,337$12,833$12,351$11,890$11,089
5 years$10,981$10,456$9,959$9,487$9,039$8,269
6 years$9,059$8,539$8,048$7,587$7,152$6,414
7 years$7,687$7,171$6,688$6,237$5,816$5,111
8 years$6,658$6,147$5,672$5,232$4,825$4,151
9 years$5,858$5,352$4,885$4,457$4,064$3,421
10 years$5,219$4,717$4,259$3,842$3,462$2,851
11 years$4,696$4,199$3,750$3,344$2,978$2,397
12 years$4,261$3,769$3,328$2,933$2,580$2,029
13 years$3,893$3,406$2,973$2,589$2,250$1,728
14 years$3,577$3,096$2,671$2,298$1,973$1,479
15 years$3,304$2,828$2,412$2,050$1,737$1,270
16 years$3,066$2,595$2,187$1,835$1,535$1,094
17 years$2,856$2,390$1,990$1,649$1,361$946
18 years$2,669$2,208$1,816$1,486$1,210$819
19 years$2,502$2,047$1,663$1,343$1,079$711
20 years$2,352$1,902$1,526$1,216$963$618
21 years$2,216$1,772$1,404$1,104$862$538
22 years$2,093$1,654$1,294$1,004$773$469
23 years$1,981$1,547$1,195$914$694$410
24 years$1,878$1,449$1,105$834$624$358
25 years$1,784$1,360$1,023$761$561$313
26 years$1,697$1,278$949$696$505$274
27 years$1,617$1,203$881$637$456$240
28 years$1,542$1,133$819$584$411$210
29 years$1,473$1,069$762$535$371$184
30 years$1,409$1,010$710$491$335$162
31 years$1,348$955$662$451$303$142
32 years$1,292$903$618$415$274$124
33 years$1,239$855$577$381$248$109
34 years$1,190$811$539$351$225$96
35 years$1,143$769$504$323$204$84
36 years$1,099$730$471$297$184$74
37 years$1,058$693$441$274$167$65
38 years$1,018$659$413$253$152$57
39 years$981$626$387$233$137$50
40 years$946$596$363$215$125$44
41 years$913$567$340$198$113$39
42 years$881$540$319$183$103$34
43 years$851$515$299$169$93$30
44 years$822$491$281$156$85$26
45 years$795$468$264$144$77$23
46 years$769$446$248$133$70$20
47 years$744$426$233$123$63$18
48 years$720$407$219$114$57$16
49 years$697$388$206$105$52$14
50 years$676$371$193$97$47$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $692,000, adding $2,959 every year, while hoping to spend $39,509 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: 77/7/16 Blend
60$692,000$692,000$692,000$692,000
61$765,636$728,960$718,234$821,701
62$801,694$722,642$700,258$852,799
63$840,105$714,690$680,355$881,633
64$881,069$704,982$658,420$912,171
65$924,801$693,390$634,340$944,570
66$971,542$679,777$608,001$979,003
67$1,021,550$663,997$579,281$1,015,660
68$1,075,113$645,898$548,052$1,054,753
69$1,132,545$625,318$514,182$1,096,513
70$1,194,189$602,083$477,531$1,141,198
71$1,260,425$576,013$437,957$1,189,091
72$1,331,665$546,915$395,305$1,240,505
73$1,408,367$514,585$349,420$1,295,785
74$1,491,029$478,809$300,134$1,355,313
75$1,580,202$439,358$247,277$1,419,510
76$1,676,489$395,993$190,667$1,488,841
77$1,780,552$348,459$130,116$1,563,819
78$1,893,122$296,487$65,428$1,645,010
79$2,014,999$239,793$0$1,733,040
80$2,147,064$178,078$0$1,829,213
81$2,290,285$111,024$0$1,945,638
82$2,445,728$38,298$0$2,072,011
83$2,614,564$0$0$2,209,300
84$2,798,081$0$0$2,361,687
85$2,997,698$0$0$2,530,673
86$3,214,972$0$0$2,714,630
87$3,451,622$0$0$2,915,014
88$3,709,534$0$0$3,133,428
89$3,990,788$0$0$3,371,633
90$4,297,670$0$0$3,631,572
91$4,632,698$0$0$3,915,379
92$4,998,645$0$0$4,225,406
93$5,398,560$0$0$4,564,242
94$5,835,804$0$0$4,934,736
95$6,314,074$0$0$5,340,026
96$6,837,442$0$0$5,783,567
97$7,410,394$0$0$6,269,163
98$8,037,865$0$0$6,801,004
99$8,725,294$0$0$7,383,703
100$9,478,670$0$0$8,022,340