Can I retire at age 61 with 693,000?

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 $693,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$57,227$56,718$56,220$55,735$55,261$53,816
2 years$28,330$27,803$27,291$26,796$26,315$24,869
3 years$18,699$18,169$17,659$17,168$16,695$15,293
4 years$13,885$13,356$12,851$12,369$11,907$10,560
5 years$10,997$10,472$9,973$9,500$9,052$7,764
6 years$9,072$8,551$8,060$7,598$7,162$5,934
7 years$7,698$7,181$6,698$6,246$5,825$4,657
8 years$6,668$6,155$5,680$5,240$4,832$3,724
9 years$5,867$5,359$4,892$4,463$4,069$3,020
10 years$5,226$4,724$4,265$3,847$3,467$2,475
11 years$4,703$4,206$3,755$3,348$2,982$2,045
12 years$4,267$3,775$3,333$2,937$2,584$1,702
13 years$3,898$3,411$2,977$2,593$2,253$1,423
14 years$3,583$3,101$2,675$2,302$1,975$1,196
15 years$3,309$2,833$2,415$2,053$1,739$1,008
16 years$3,070$2,599$2,190$1,838$1,537$852
17 years$2,860$2,393$1,993$1,651$1,363$722
18 years$2,673$2,212$1,819$1,488$1,212$613
19 years$2,506$2,050$1,665$1,345$1,080$522
20 years$2,355$1,905$1,528$1,218$965$445
21 years$2,220$1,774$1,406$1,105$863$379
22 years$2,096$1,656$1,296$1,005$774$324
23 years$1,984$1,549$1,196$915$695$277
24 years$1,881$1,451$1,106$835$624$237
25 years$1,787$1,362$1,025$762$562$203
26 years$1,700$1,280$950$697$506$174
27 years$1,619$1,205$882$638$456$149
28 years$1,545$1,135$820$585$412$127
29 years$1,475$1,071$763$536$372$109
30 years$1,411$1,011$711$492$336$94
31 years$1,350$956$663$452$304$80
32 years$1,294$905$619$415$275$69
33 years$1,241$857$578$382$249$59
34 years$1,191$812$540$351$225$51
35 years$1,145$770$505$323$204$44
36 years$1,101$731$472$298$185$37
37 years$1,059$694$442$274$167$32
38 years$1,020$660$414$253$152$28
39 years$983$627$388$233$138$24
40 years$947$597$363$215$125$20
41 years$914$568$341$198$113$17
42 years$882$541$320$183$103$15
43 years$852$516$300$169$93$13
44 years$823$491$281$156$85$11
45 years$796$469$264$144$77$10
46 years$770$447$248$133$70$8
47 years$745$427$233$123$63$7
48 years$721$407$219$114$58$6
49 years$698$389$206$105$52$5
50 years$677$372$194$97$47$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $693,000, adding $5,076 every year, while hoping to spend $42,326 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: 67/12/21 Blend
60$693,000$693,000$693,000$693,000
61$768,922$732,193$721,451$816,049
62$802,317$723,036$700,585$839,110
63$837,701$712,011$677,602$858,974
64$875,230$698,984$652,385$879,689
65$915,077$683,808$624,814$901,339
66$957,433$666,332$594,763$924,016
67$1,002,502$646,394$562,099$947,824
68$1,050,512$623,822$526,684$972,878
69$1,101,710$598,435$488,374$999,309
70$1,156,368$570,042$447,018$1,027,258
71$1,214,784$538,439$402,459$1,056,887
72$1,277,282$503,413$354,531$1,088,373
73$1,344,220$464,736$303,064$1,121,915
74$1,415,991$422,169$247,877$1,157,732
75$1,493,024$375,457$188,783$1,196,071
76$1,575,792$324,334$125,586$1,237,203
77$1,664,812$268,515$58,083$1,281,431
78$1,760,653$207,703$0$1,329,091
79$1,863,940$141,581$0$1,383,684
80$1,975,359$69,815$0$1,456,588
81$2,095,663$0$0$1,535,289
82$2,225,681$0$0$1,621,398
83$2,366,324$0$0$1,724,550
84$2,518,590$0$0$1,836,263
85$2,683,582$0$0$1,957,348
86$2,862,507$0$0$2,088,698
87$3,056,697$0$0$2,231,295
88$3,267,614$0$0$2,386,218
89$3,496,867$0$0$2,554,653
90$3,746,227$0$0$2,737,908
91$4,017,641$0$0$2,937,419
92$4,313,251$0$0$3,154,767
93$4,635,417$0$0$3,391,694
94$4,986,734$0$0$3,650,115
95$5,370,058$0$0$3,932,137
96$5,788,534$0$0$4,240,081
97$6,245,622$0$0$4,576,502
98$6,745,132$0$0$4,944,211
99$7,291,260$0$0$5,346,306
100$7,888,624$0$0$5,786,194