Can I retire at age 61 with 694,000?

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 $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%16.9%
1 years$57,310$56,799$56,301$55,815$55,341$53,785
2 years$28,371$27,843$27,331$26,834$26,353$24,797
3 years$18,726$18,196$17,685$17,193$16,719$15,212
4 years$13,905$13,376$12,870$12,387$11,924$10,478
5 years$11,013$10,487$9,988$9,514$9,065$7,683
6 years$9,085$8,563$8,072$7,608$7,173$5,857
7 years$7,709$7,191$6,707$6,255$5,833$4,583
8 years$6,677$6,164$5,688$5,247$4,839$3,654
9 years$5,875$5,367$4,899$4,470$4,075$2,954
10 years$5,234$4,731$4,271$3,853$3,472$2,414
11 years$4,710$4,212$3,761$3,353$2,986$1,988
12 years$4,273$3,780$3,337$2,941$2,588$1,649
13 years$3,904$3,416$2,982$2,597$2,257$1,374
14 years$3,588$3,105$2,679$2,305$1,978$1,151
15 years$3,314$2,837$2,419$2,056$1,742$967
16 years$3,075$2,603$2,193$1,841$1,539$814
17 years$2,864$2,397$1,996$1,654$1,365$688
18 years$2,676$2,215$1,822$1,490$1,214$582
19 years$2,509$2,053$1,668$1,347$1,082$493
20 years$2,359$1,907$1,531$1,220$966$419
21 years$2,223$1,777$1,408$1,107$865$356
22 years$2,099$1,658$1,297$1,006$775$303
23 years$1,987$1,551$1,198$917$696$258
24 years$1,884$1,453$1,108$836$625$219
25 years$1,789$1,364$1,026$763$563$187
26 years$1,702$1,282$952$698$507$160
27 years$1,621$1,206$884$639$457$136
28 years$1,547$1,137$822$585$412$116
29 years$1,477$1,072$765$537$372$99
30 years$1,413$1,013$712$493$336$85
31 years$1,352$957$664$453$304$72
32 years$1,296$906$619$416$275$62
33 years$1,243$858$578$382$249$53
34 years$1,193$813$540$352$225$45
35 years$1,146$771$505$324$204$39
36 years$1,102$732$473$298$185$33
37 years$1,061$695$442$275$168$28
38 years$1,021$661$414$253$152$24
39 years$984$628$388$234$138$21
40 years$949$598$364$215$125$18
41 years$915$569$341$199$113$15
42 years$884$542$320$183$103$13
43 years$853$516$300$169$93$11
44 years$825$492$282$156$85$9
45 years$797$469$265$144$77$8
46 years$771$448$249$133$70$7
47 years$746$427$234$123$63$6
48 years$722$408$219$114$58$5
49 years$699$389$206$105$52$4
50 years$678$372$194$97$48$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $694,000, adding $5,326 every year, while hoping to spend $35,278 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: 74/15/11 Blend
60$694,000$694,000$694,000$694,000
61$770,282$733,500$722,743$825,255
62$811,315$731,906$709,419$860,674
63$855,351$729,051$694,467$894,538
64$902,660$724,837$677,794$930,664
65$953,535$719,159$659,304$969,266
66$1,008,303$711,904$638,898$1,010,578
67$1,067,318$702,956$616,469$1,054,862
68$1,130,972$692,188$591,909$1,102,403
69$1,199,694$679,469$565,101$1,153,519
70$1,273,958$664,657$535,926$1,208,559
71$1,354,280$647,604$504,259$1,267,909
72$1,441,233$628,153$469,967$1,331,993
73$1,535,442$606,136$432,915$1,401,281
74$1,637,598$581,377$392,958$1,476,293
75$1,748,458$553,690$349,947$1,557,599
76$1,868,856$522,876$303,726$1,645,831
77$1,999,710$488,728$254,131$1,741,686
78$2,142,028$451,023$200,992$1,845,933
79$2,296,920$409,528$144,131$1,959,419
80$2,465,608$363,998$83,362$2,083,081
81$2,649,436$314,170$18,490$2,217,953
82$2,849,883$259,768$0$2,365,173
83$3,068,577$200,503$0$2,531,956
84$3,307,310$136,066$0$2,716,438
85$3,568,055$66,132$0$2,918,002
86$3,852,983$0$0$3,138,366
87$4,164,484$0$0$3,381,014
88$4,505,191$0$0$3,658,380
89$4,878,002$0$0$3,961,912
90$5,286,108$0$0$4,294,210
91$5,733,023$0$0$4,658,141
92$6,222,617$0$0$5,056,858
93$6,759,152$0$0$5,493,839
94$7,347,321$0$0$5,972,908
95$7,992,293$0$0$6,498,281
96$8,699,762$0$0$7,074,601
97$9,475,999$0$0$7,706,981
98$10,327,912$0$0$8,401,052
99$11,263,108$0$0$9,163,020
100$12,289,969$0$0$9,999,717