Can I retire at age 61 with 697,000?

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 $697,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13%
1 years$57,558$57,045$56,545$56,056$55,580$54,885
2 years$28,494$27,963$27,449$26,950$26,467$25,768
3 years$18,807$18,274$17,761$17,267$16,791$16,110
4 years$13,965$13,434$12,926$12,440$11,976$11,317
5 years$11,060$10,532$10,031$9,555$9,104$8,470
6 years$9,124$8,600$8,106$7,641$7,204$6,595
7 years$7,742$7,222$6,736$6,282$5,858$5,275
8 years$6,706$6,191$5,713$5,270$4,860$4,302
9 years$5,901$5,390$4,921$4,489$4,093$3,560
10 years$5,257$4,751$4,290$3,870$3,487$2,980
11 years$4,730$4,230$3,777$3,368$2,999$2,516
12 years$4,291$3,796$3,352$2,954$2,599$2,140
13 years$3,921$3,431$2,995$2,608$2,266$1,830
14 years$3,603$3,119$2,691$2,315$1,987$1,573
15 years$3,328$2,849$2,429$2,065$1,749$1,358
16 years$3,088$2,614$2,203$1,849$1,546$1,176
17 years$2,876$2,407$2,004$1,661$1,371$1,021
18 years$2,688$2,224$1,830$1,497$1,219$889
19 years$2,520$2,062$1,675$1,353$1,086$776
20 years$2,369$1,916$1,537$1,225$970$678
21 years$2,232$1,784$1,414$1,112$868$594
22 years$2,108$1,666$1,303$1,011$778$520
23 years$1,995$1,558$1,203$921$699$457
24 years$1,892$1,460$1,113$840$628$401
25 years$1,797$1,370$1,031$767$565$353
26 years$1,709$1,287$956$701$509$310
27 years$1,628$1,212$888$642$459$273
28 years$1,553$1,142$825$588$414$241
29 years$1,484$1,077$768$539$374$212
30 years$1,419$1,017$715$495$338$187
31 years$1,358$962$667$454$305$165
32 years$1,301$910$622$418$276$146
33 years$1,248$862$581$384$250$129
34 years$1,198$817$543$353$226$114
35 years$1,151$775$507$325$205$100
36 years$1,107$735$475$300$186$89
37 years$1,065$698$444$276$168$78
38 years$1,026$664$416$254$153$69
39 years$988$631$390$235$138$61
40 years$953$600$365$216$126$54
41 years$919$571$343$200$114$48
42 years$887$544$321$184$103$42
43 years$857$519$302$170$94$37
44 years$828$494$283$157$85$33
45 years$801$471$266$145$77$29
46 years$774$450$250$134$70$26
47 years$749$429$235$124$64$23
48 years$725$410$220$114$58$20
49 years$702$391$207$106$53$18
50 years$681$374$195$98$48$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $697,000, adding $3,775 every year, while hoping to spend $52,145 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: 51/40/9 Blend
60$697,000$697,000$697,000$697,000
61$771,988$735,047$724,243$809,373
62$795,249$715,582$693,024$815,807
63$819,135$693,416$659,010$816,897
64$843,654$668,361$622,055$816,861
65$868,815$640,219$582,002$815,607
66$894,624$608,780$538,689$813,035
67$921,087$573,822$491,947$809,039
68$948,209$535,110$441,598$803,508
69$975,992$492,396$387,457$796,321
70$1,004,438$445,418$329,331$787,351
71$1,033,545$393,898$267,018$776,463
72$1,063,310$337,542$200,307$763,513
73$1,093,729$276,043$128,978$748,346
74$1,124,791$209,072$52,802$730,801
75$1,156,487$136,283$0$710,703
76$1,188,800$57,312$0$690,603
77$1,221,711$0$0$673,159
78$1,255,196$0$0$665,533
79$1,289,226$0$0$683,401
80$1,323,766$0$0$701,516
81$1,358,775$0$0$719,854
82$1,394,204$0$0$738,386
83$1,429,998$0$0$757,079
84$1,466,090$0$0$775,896
85$1,502,406$0$0$794,792
86$1,538,859$0$0$813,717
87$1,575,352$0$0$832,615
88$1,611,772$0$0$851,422
89$1,647,993$0$0$870,065
90$1,683,870$0$0$888,460
91$1,719,243$0$0$906,516
92$1,753,927$0$0$924,127
93$1,787,717$0$0$941,178
94$1,820,383$0$0$957,535
95$1,851,667$0$0$973,051
96$1,881,277$0$0$987,563
97$1,908,891$0$0$1,000,886
98$1,934,148$0$0$1,012,814
99$1,956,642$0$0$1,023,118
100$1,975,925$0$0$1,031,544