Can I retire at age 61 with 693,000?

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 $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%13.9%
1 years$57,227$56,718$56,220$55,735$55,261$54,368
2 years$28,330$27,803$27,291$26,796$26,315$25,417
3 years$18,699$18,169$17,659$17,168$16,695$15,821
4 years$13,885$13,356$12,851$12,369$11,907$11,064
5 years$10,997$10,472$9,973$9,500$9,052$8,241
6 years$9,072$8,551$8,060$7,598$7,162$6,386
7 years$7,698$7,181$6,698$6,246$5,825$5,082
8 years$6,668$6,155$5,680$5,240$4,832$4,124
9 years$5,867$5,359$4,892$4,463$4,069$3,394
10 years$5,226$4,724$4,265$3,847$3,467$2,825
11 years$4,703$4,206$3,755$3,348$2,982$2,372
12 years$4,267$3,775$3,333$2,937$2,584$2,006
13 years$3,898$3,411$2,977$2,593$2,253$1,706
14 years$3,583$3,101$2,675$2,302$1,975$1,458
15 years$3,309$2,833$2,415$2,053$1,739$1,250
16 years$3,070$2,599$2,190$1,838$1,537$1,076
17 years$2,860$2,393$1,993$1,651$1,363$928
18 years$2,673$2,212$1,819$1,488$1,212$803
19 years$2,506$2,050$1,665$1,345$1,080$696
20 years$2,355$1,905$1,528$1,218$965$604
21 years$2,220$1,774$1,406$1,105$863$525
22 years$2,096$1,656$1,296$1,005$774$457
23 years$1,984$1,549$1,196$915$695$399
24 years$1,881$1,451$1,106$835$624$348
25 years$1,787$1,362$1,025$762$562$304
26 years$1,700$1,280$950$697$506$265
27 years$1,619$1,205$882$638$456$232
28 years$1,545$1,135$820$585$412$203
29 years$1,475$1,071$763$536$372$178
30 years$1,411$1,011$711$492$336$155
31 years$1,350$956$663$452$304$136
32 years$1,294$905$619$415$275$119
33 years$1,241$857$578$382$249$104
34 years$1,191$812$540$351$225$92
35 years$1,145$770$505$323$204$80
36 years$1,101$731$472$298$185$70
37 years$1,059$694$442$274$167$62
38 years$1,020$660$414$253$152$54
39 years$983$627$388$233$138$47
40 years$947$597$363$215$125$42
41 years$914$568$341$198$113$37
42 years$882$541$320$183$103$32
43 years$852$516$300$169$93$28
44 years$823$491$281$156$85$25
45 years$796$469$264$144$77$22
46 years$770$447$248$133$70$19
47 years$745$427$233$123$63$17
48 years$721$407$219$114$58$15
49 years$698$389$206$105$52$13
50 years$677$372$194$97$47$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $693,000, adding $3,721 every year, while hoping to spend $41,776 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: 60/13/27 Blend
60$693,000$693,000$693,000$693,000
61$767,524$730,795$720,054$807,779
62$801,362$722,155$699,726$827,002
63$837,252$711,691$677,318$843,159
64$875,358$699,270$652,714$859,906
65$915,861$684,751$625,796$877,309
66$958,958$667,983$596,440$895,445
67$1,004,867$648,809$564,516$914,398
68$1,053,823$627,061$529,887$934,264
69$1,106,086$602,560$492,411$955,151
70$1,161,940$575,119$451,940$977,180
71$1,221,697$544,539$408,320$1,000,487
72$1,285,699$510,609$361,386$1,025,223
73$1,354,319$473,108$310,972$1,051,558
74$1,427,969$431,800$256,899$1,079,685
75$1,507,100$386,436$198,983$1,109,814
76$1,592,206$336,754$137,031$1,142,185
77$1,683,832$282,476$70,843$1,177,062
78$1,782,575$223,309$208$1,214,743
79$1,889,089$158,943$0$1,255,556
80$2,004,096$89,050$0$1,321,527
81$2,128,386$13,287$0$1,392,881
82$2,262,831$0$0$1,470,082
83$2,408,384$0$0$1,563,539
84$2,566,099$0$0$1,666,911
85$2,737,131$0$0$1,779,058
86$2,922,750$0$0$1,900,822
87$3,124,355$0$0$2,033,124
88$3,343,484$0$0$2,176,982
89$3,581,828$0$0$2,333,513
90$3,841,248$0$0$2,503,946
91$4,123,793$0$0$2,689,633
92$4,431,715$0$0$2,892,065
93$4,767,495$0$0$3,112,880
94$5,133,862$0$0$3,353,882
95$5,533,822$0$0$3,617,055
96$5,970,681$0$0$3,904,586
97$6,448,080$0$0$4,218,881
98$6,970,029$0$0$4,562,589
99$7,540,940$0$0$4,938,627
100$8,165,673$0$0$5,350,206