Can I retire at age 61 with 694,000?

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 $694,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.5%
1 years$57,310$56,799$56,301$55,815$55,341$54,091
2 years$28,371$27,843$27,331$26,834$26,353$25,100
3 years$18,726$18,196$17,685$17,193$16,719$15,503
4 years$13,905$13,376$12,870$12,387$11,924$10,754
5 years$11,013$10,487$9,988$9,514$9,065$7,943
6 years$9,085$8,563$8,072$7,608$7,173$6,102
7 years$7,709$7,191$6,707$6,255$5,833$4,813
8 years$6,677$6,164$5,688$5,247$4,839$3,869
9 years$5,875$5,367$4,899$4,470$4,075$3,154
10 years$5,234$4,731$4,271$3,853$3,472$2,600
11 years$4,710$4,212$3,761$3,353$2,986$2,161
12 years$4,273$3,780$3,337$2,941$2,588$1,808
13 years$3,904$3,416$2,982$2,597$2,257$1,522
14 years$3,588$3,105$2,679$2,305$1,978$1,286
15 years$3,314$2,837$2,419$2,056$1,742$1,091
16 years$3,075$2,603$2,193$1,841$1,539$928
17 years$2,864$2,397$1,996$1,654$1,365$792
18 years$2,676$2,215$1,822$1,490$1,214$677
19 years$2,509$2,053$1,668$1,347$1,082$580
20 years$2,359$1,907$1,531$1,220$966$498
21 years$2,223$1,777$1,408$1,107$865$427
22 years$2,099$1,658$1,297$1,006$775$368
23 years$1,987$1,551$1,198$917$696$316
24 years$1,884$1,453$1,108$836$625$273
25 years$1,789$1,364$1,026$763$563$235
26 years$1,702$1,282$952$698$507$203
27 years$1,621$1,206$884$639$457$175
28 years$1,547$1,137$822$585$412$151
29 years$1,477$1,072$765$537$372$130
30 years$1,413$1,013$712$493$336$113
31 years$1,352$957$664$453$304$97
32 years$1,296$906$619$416$275$84
33 years$1,243$858$578$382$249$73
34 years$1,193$813$540$352$225$63
35 years$1,146$771$505$324$204$54
36 years$1,102$732$473$298$185$47
37 years$1,061$695$442$275$168$41
38 years$1,021$661$414$253$152$35
39 years$984$628$388$234$138$31
40 years$949$598$364$215$125$26
41 years$915$569$341$199$113$23
42 years$884$542$320$183$103$20
43 years$853$516$300$169$93$17
44 years$825$492$282$156$85$15
45 years$797$469$265$144$77$13
46 years$771$448$249$133$70$11
47 years$746$427$234$123$63$10
48 years$722$408$219$114$58$8
49 years$699$389$206$105$52$7
50 years$678$372$194$97$48$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $694,000, adding $6,229 every year, while hoping to spend $42,030 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: 37/35/28 Blend
60$694,000$694,000$694,000$694,000
61$771,213$734,431$723,674$793,105
62$805,157$725,699$703,198$801,101
63$841,155$715,130$680,627$805,457
64$879,372$702,590$655,846$809,358
65$919,987$687,937$628,737$812,790
66$963,200$671,019$599,174$815,743
67$1,009,226$651,678$567,025$818,207
68$1,058,301$629,745$532,155$820,179
69$1,110,685$605,040$494,419$821,657
70$1,166,662$577,374$453,669$822,644
71$1,226,543$546,547$409,749$823,148
72$1,290,670$512,347$362,495$823,184
73$1,359,417$474,551$311,738$822,774
74$1,433,195$432,922$257,298$821,945
75$1,512,455$387,208$198,991$820,737
76$1,597,691$337,147$136,623$819,199
77$1,689,446$282,458$69,990$817,389
78$1,788,317$222,846$0$815,384
79$1,894,959$157,999$0$813,604
80$2,010,092$87,588$0$834,160
81$2,134,507$11,266$0$856,313
82$2,269,073$0$0$880,282
83$2,414,745$0$0$933,788
84$2,572,574$0$0$996,541
85$2,743,715$0$0$1,064,671
86$2,929,437$0$0$1,138,695
87$3,131,137$0$0$1,219,180
88$3,350,352$0$0$1,306,751
89$3,588,772$0$0$1,402,096
90$3,848,257$0$0$1,505,971
91$4,130,852$0$0$1,619,208
92$4,438,809$0$0$1,742,723
93$4,774,605$0$0$1,877,526
94$5,140,969$0$0$2,024,725
95$5,540,901$0$0$2,185,542
96$5,977,707$0$0$2,361,324
97$6,455,023$0$0$2,553,550
98$6,976,854$0$0$2,763,851
99$7,547,610$0$0$2,994,023
100$8,172,145$0$0$3,246,043