Can I retire at age 61 with 695,000?

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 $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%19.6%
1 years$57,392$56,881$56,382$55,896$55,420$53,285
2 years$28,412$27,883$27,370$26,873$26,391$24,264
3 years$18,753$18,222$17,710$17,218$16,743$14,693
4 years$13,925$13,395$12,889$12,404$11,941$9,984
5 years$11,028$10,502$10,002$9,528$9,078$7,217
6 years$9,098$8,576$8,083$7,619$7,183$5,420
7 years$7,720$7,202$6,717$6,264$5,842$4,177
8 years$6,687$6,173$5,697$5,255$4,846$3,278
9 years$5,884$5,375$4,907$4,476$4,081$2,606
10 years$5,241$4,738$4,278$3,858$3,477$2,094
11 years$4,716$4,218$3,766$3,358$2,991$1,695
12 years$4,279$3,786$3,342$2,945$2,592$1,380
13 years$3,909$3,421$2,986$2,600$2,260$1,130
14 years$3,593$3,110$2,683$2,308$1,981$928
15 years$3,319$2,841$2,422$2,059$1,744$765
16 years$3,079$2,606$2,196$1,843$1,542$632
17 years$2,868$2,400$1,998$1,656$1,367$523
18 years$2,680$2,218$1,824$1,493$1,215$434
19 years$2,513$2,056$1,670$1,349$1,083$360
20 years$2,362$1,910$1,533$1,221$968$300
21 years$2,226$1,779$1,410$1,109$866$249
22 years$2,102$1,661$1,299$1,008$776$208
23 years$1,990$1,553$1,200$918$697$173
24 years$1,887$1,455$1,110$837$626$144
25 years$1,792$1,366$1,028$765$564$120
26 years$1,705$1,284$953$699$508$100
27 years$1,624$1,208$885$640$458$84
28 years$1,549$1,138$823$586$413$70
29 years$1,479$1,074$766$538$373$58
30 years$1,415$1,014$713$493$337$49
31 years$1,354$959$665$453$305$41
32 years$1,298$907$620$416$276$34
33 years$1,245$859$579$383$249$29
34 years$1,195$814$541$352$226$24
35 years$1,148$772$506$324$204$20
36 years$1,104$733$473$299$185$17
37 years$1,062$696$443$275$168$14
38 years$1,023$662$415$254$152$12
39 years$985$629$389$234$138$10
40 years$950$599$364$216$125$8
41 years$917$570$342$199$114$7
42 years$885$543$320$184$103$6
43 years$855$517$301$170$94$5
44 years$826$493$282$157$85$4
45 years$798$470$265$145$77$3
46 years$772$448$249$134$70$3
47 years$747$428$234$123$64$2
48 years$723$408$220$114$58$2
49 years$700$390$207$105$52$2
50 years$679$373$194$97$48$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $695,000, adding $5,141 every year, while hoping to spend $28,798 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: 80/11/9 Blend
60$695,000$695,000$695,000$695,000
61$771,193$734,358$723,585$831,448
62$819,214$739,701$717,185$877,040
63$871,168$744,340$709,604$922,759
64$927,425$748,211$700,774$972,071
65$988,394$751,245$690,622$1,025,319
66$1,054,522$753,368$679,070$1,082,884
67$1,126,303$754,502$666,038$1,145,183
68$1,204,278$754,565$651,443$1,212,677
69$1,289,044$753,469$635,196$1,285,873
70$1,381,257$751,119$617,205$1,365,332
71$1,481,639$747,418$597,375$1,451,668
72$1,590,984$742,259$575,605$1,545,561
73$1,710,166$735,531$551,789$1,647,759
74$1,840,146$727,116$525,818$1,759,085
75$1,981,985$716,888$497,577$1,880,449
76$2,136,846$704,715$466,944$2,012,851
77$2,306,014$690,455$433,796$2,157,394
78$2,490,899$673,959$398,000$2,315,295
79$2,693,058$655,070$359,420$2,487,892
80$2,914,201$633,620$317,912$2,676,664
81$3,156,215$609,432$273,327$2,883,236
82$3,421,173$582,319$225,509$3,109,404
83$3,711,363$552,083$174,293$3,357,144
84$4,029,301$518,514$119,511$3,628,636
85$4,377,759$481,390$60,984$3,926,281
86$4,759,790$440,478$0$4,252,726
87$5,178,757$395,529$0$4,611,032
88$5,638,362$346,282$0$5,010,531
89$6,142,685$292,460$0$5,448,925
90$6,696,219$233,771$0$5,930,142
91$7,303,914$169,906$0$6,458,509
92$7,971,221$100,540$0$7,038,796
93$8,704,146$25,326$0$7,676,256
94$9,509,305$0$0$8,376,681
95$10,393,986$0$0$9,153,243
96$11,366,219$0$0$10,010,045
97$12,434,849$0$0$10,951,821
98$13,609,621$0$0$11,987,162
99$14,901,273$0$0$13,125,533
100$16,321,632$0$0$14,377,361