Can I retire at age 61 with 695,000?

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 $695,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$57,392$56,881$56,382$55,896$55,420$55,164
2 years$28,412$27,883$27,370$26,873$26,391$26,131
3 years$18,753$18,222$17,710$17,218$16,743$16,490
4 years$13,925$13,395$12,889$12,404$11,941$11,695
5 years$11,028$10,502$10,002$9,528$9,078$8,840
6 years$9,098$8,576$8,083$7,619$7,183$6,954
7 years$7,720$7,202$6,717$6,264$5,842$5,621
8 years$6,687$6,173$5,697$5,255$4,846$4,635
9 years$5,884$5,375$4,907$4,476$4,081$3,878
10 years$5,241$4,738$4,278$3,858$3,477$3,283
11 years$4,716$4,218$3,766$3,358$2,991$2,805
12 years$4,279$3,786$3,342$2,945$2,592$2,414
13 years$3,909$3,421$2,986$2,600$2,260$2,091
14 years$3,593$3,110$2,683$2,308$1,981$1,820
15 years$3,319$2,841$2,422$2,059$1,744$1,591
16 years$3,079$2,606$2,196$1,843$1,542$1,395
17 years$2,868$2,400$1,998$1,656$1,367$1,228
18 years$2,680$2,218$1,824$1,493$1,215$1,084
19 years$2,513$2,056$1,670$1,349$1,083$958
20 years$2,362$1,910$1,533$1,221$968$849
21 years$2,226$1,779$1,410$1,109$866$754
22 years$2,102$1,661$1,299$1,008$776$670
23 years$1,990$1,553$1,200$918$697$597
24 years$1,887$1,455$1,110$837$626$532
25 years$1,792$1,366$1,028$765$564$475
26 years$1,705$1,284$953$699$508$424
27 years$1,624$1,208$885$640$458$379
28 years$1,549$1,138$823$586$413$339
29 years$1,479$1,074$766$538$373$304
30 years$1,415$1,014$713$493$337$272
31 years$1,354$959$665$453$305$244
32 years$1,298$907$620$416$276$218
33 years$1,245$859$579$383$249$196
34 years$1,195$814$541$352$226$176
35 years$1,148$772$506$324$204$158
36 years$1,104$733$473$299$185$142
37 years$1,062$696$443$275$168$127
38 years$1,023$662$415$254$152$114
39 years$985$629$389$234$138$103
40 years$950$599$364$216$125$92
41 years$917$570$342$199$114$83
42 years$885$543$320$184$103$75
43 years$855$517$301$170$94$67
44 years$826$493$282$157$85$60
45 years$798$470$265$145$77$54
46 years$772$448$249$134$70$49
47 years$747$428$234$123$64$44
48 years$723$408$220$114$58$39
49 years$700$390$207$105$52$35
50 years$679$373$194$97$48$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $695,000, adding $4,615 every year, while hoping to spend $50,282 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: 56/20/24 Blend
60$695,000$695,000$695,000$695,000
61$770,650$733,815$723,043$808,525
62$795,757$716,273$693,765$817,443
63$821,739$696,185$661,821$821,466
64$848,634$673,375$627,069$824,788
65$876,478$647,654$589,360$827,356
66$905,313$618,823$548,537$829,115
67$935,181$586,672$504,440$830,007
68$966,128$550,977$456,897$829,971
69$998,201$511,504$405,731$828,944
70$1,031,452$468,002$350,758$826,858
71$1,065,935$420,209$291,783$823,645
72$1,101,708$367,846$228,605$819,232
73$1,138,831$310,619$161,012$813,542
74$1,177,370$248,218$88,785$806,496
75$1,217,396$180,314$11,692$798,011
76$1,258,981$106,561$0$788,002
77$1,302,207$26,593$0$794,452
78$1,347,159$0$0$803,566
79$1,393,927$0$0$825,515
80$1,442,611$0$0$854,466
81$1,493,315$0$0$884,629
82$1,546,153$0$0$916,073
83$1,601,247$0$0$948,873
84$1,658,729$0$0$983,108
85$1,718,739$0$0$1,018,865
86$1,781,431$0$0$1,056,237
87$1,846,970$0$0$1,095,324
88$1,915,535$0$0$1,136,236
89$1,987,319$0$0$1,179,090
90$2,062,532$0$0$1,224,015
91$2,141,400$0$0$1,271,148
92$2,224,170$0$0$1,320,641
93$2,311,110$0$0$1,372,658
94$2,402,510$0$0$1,427,375
95$2,498,686$0$0$1,484,986
96$2,599,983$0$0$1,545,703
97$2,706,774$0$0$1,609,754
98$2,819,468$0$0$1,677,389
99$2,938,511$0$0$1,748,882
100$3,064,386$0$0$1,824,529