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%14%
1 years$57,145$56,636$56,139$55,654$55,181$54,267
2 years$28,289$27,763$27,252$26,757$26,277$25,358
3 years$18,672$18,143$17,634$17,143$16,671$15,777
4 years$13,865$13,337$12,833$12,351$11,890$11,027
5 years$10,981$10,456$9,959$9,487$9,039$8,210
6 years$9,059$8,539$8,048$7,587$7,152$6,358
7 years$7,687$7,171$6,688$6,237$5,816$5,057
8 years$6,658$6,147$5,672$5,232$4,825$4,101
9 years$5,858$5,352$4,885$4,457$4,064$3,374
10 years$5,219$4,717$4,259$3,842$3,462$2,806
11 years$4,696$4,199$3,750$3,344$2,978$2,355
12 years$4,261$3,769$3,328$2,933$2,580$1,990
13 years$3,893$3,406$2,973$2,589$2,250$1,691
14 years$3,577$3,096$2,671$2,298$1,973$1,444
15 years$3,304$2,828$2,412$2,050$1,737$1,238
16 years$3,066$2,595$2,187$1,835$1,535$1,064
17 years$2,856$2,390$1,990$1,649$1,361$918
18 years$2,669$2,208$1,816$1,486$1,210$793
19 years$2,502$2,047$1,663$1,343$1,079$687
20 years$2,352$1,902$1,526$1,216$963$596
21 years$2,216$1,772$1,404$1,104$862$518
22 years$2,093$1,654$1,294$1,004$773$451
23 years$1,981$1,547$1,195$914$694$392
24 years$1,878$1,449$1,105$834$624$342
25 years$1,784$1,360$1,023$761$561$298
26 years$1,697$1,278$949$696$505$260
27 years$1,617$1,203$881$637$456$228
28 years$1,542$1,133$819$584$411$199
29 years$1,473$1,069$762$535$371$174
30 years$1,409$1,010$710$491$335$152
31 years$1,348$955$662$451$303$133
32 years$1,292$903$618$415$274$116
33 years$1,239$855$577$381$248$102
34 years$1,190$811$539$351$225$89
35 years$1,143$769$504$323$204$78
36 years$1,099$730$471$297$184$69
37 years$1,058$693$441$274$167$60
38 years$1,018$659$413$253$152$53
39 years$981$626$387$233$137$46
40 years$946$596$363$215$125$40
41 years$913$567$340$198$113$35
42 years$881$540$319$183$103$31
43 years$851$515$299$169$93$27
44 years$822$491$281$156$85$24
45 years$795$468$264$144$77$21
46 years$769$446$248$133$70$18
47 years$744$426$233$123$63$16
48 years$720$407$219$114$57$14
49 years$697$388$206$105$52$12
50 years$676$371$193$97$47$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $692,000, adding $5,539 every year, while hoping to spend $47,004 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: 73/18/9 Blend
60$692,000$692,000$692,000$692,000
61$768,297$731,621$720,895$822,770
62$796,652$717,459$695,034$845,310
63$826,323$701,027$666,730$863,580
64$857,396$682,165$635,853$882,283
65$889,962$660,703$602,266$901,449
66$924,120$636,460$565,824$921,110
67$959,980$609,246$526,378$941,304
68$997,657$578,858$483,772$962,072
69$1,037,280$545,084$437,840$983,461
70$1,078,987$507,698$388,412$1,005,525
71$1,122,930$466,461$335,309$1,028,323
72$1,169,271$421,120$278,345$1,051,923
73$1,218,192$371,410$217,325$1,076,401
74$1,269,886$317,048$152,044$1,101,842
75$1,324,568$257,736$82,290$1,128,341
76$1,382,469$193,161$7,843$1,156,006
77$1,443,845$122,989$0$1,184,957
78$1,508,972$46,871$0$1,222,206
79$1,578,154$0$0$1,262,277
80$1,651,725$0$0$1,311,656
81$1,730,046$0$0$1,374,124
82$1,813,516$0$0$1,440,717
83$1,902,570$0$0$1,511,785
84$1,997,687$0$0$1,587,712
85$2,099,389$0$0$1,668,917
86$2,208,249$0$0$1,755,862
87$2,324,897$0$0$1,849,052
88$2,450,022$0$0$1,949,042
89$2,584,382$0$0$2,056,438
90$2,728,806$0$0$2,171,911
91$2,884,208$0$0$2,296,191
92$3,051,588$0$0$2,430,084
93$3,232,047$0$0$2,574,475
94$3,426,792$0$0$2,730,334
95$3,637,150$0$0$2,898,728
96$3,864,582$0$0$3,080,830
97$4,110,689$0$0$3,277,929
98$4,377,235$0$0$3,491,443
99$4,666,157$0$0$3,722,928
100$4,979,586$0$0$3,974,099