Can I retire at age 61 with 697,000?

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 $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%11%
1 years$57,558$57,045$56,545$56,056$55,580$55,346
2 years$28,494$27,963$27,449$26,950$26,467$26,230
3 years$18,807$18,274$17,761$17,267$16,791$16,560
4 years$13,965$13,434$12,926$12,440$11,976$11,751
5 years$11,060$10,532$10,031$9,555$9,104$8,887
6 years$9,124$8,600$8,106$7,641$7,204$6,994
7 years$7,742$7,222$6,736$6,282$5,858$5,657
8 years$6,706$6,191$5,713$5,270$4,860$4,667
9 years$5,901$5,390$4,921$4,489$4,093$3,907
10 years$5,257$4,751$4,290$3,870$3,487$3,310
11 years$4,730$4,230$3,777$3,368$2,999$2,829
12 years$4,291$3,796$3,352$2,954$2,599$2,437
13 years$3,921$3,431$2,995$2,608$2,266$2,111
14 years$3,603$3,119$2,691$2,315$1,987$1,839
15 years$3,328$2,849$2,429$2,065$1,749$1,609
16 years$3,088$2,614$2,203$1,849$1,546$1,412
17 years$2,876$2,407$2,004$1,661$1,371$1,244
18 years$2,688$2,224$1,830$1,497$1,219$1,098
19 years$2,520$2,062$1,675$1,353$1,086$972
20 years$2,369$1,916$1,537$1,225$970$862
21 years$2,232$1,784$1,414$1,112$868$766
22 years$2,108$1,666$1,303$1,011$778$681
23 years$1,995$1,558$1,203$921$699$607
24 years$1,892$1,460$1,113$840$628$542
25 years$1,797$1,370$1,031$767$565$484
26 years$1,709$1,287$956$701$509$432
27 years$1,628$1,212$888$642$459$387
28 years$1,553$1,142$825$588$414$346
29 years$1,484$1,077$768$539$374$310
30 years$1,419$1,017$715$495$338$278
31 years$1,358$962$667$454$305$249
32 years$1,301$910$622$418$276$224
33 years$1,248$862$581$384$250$201
34 years$1,198$817$543$353$226$180
35 years$1,151$775$507$325$205$162
36 years$1,107$735$475$300$186$146
37 years$1,065$698$444$276$168$131
38 years$1,026$664$416$254$153$118
39 years$988$631$390$235$138$106
40 years$953$600$365$216$126$95
41 years$919$571$343$200$114$86
42 years$887$544$321$184$103$77
43 years$857$519$302$170$94$69
44 years$828$494$283$157$85$62
45 years$801$471$266$145$77$56
46 years$774$450$250$134$70$50
47 years$749$429$235$124$64$45
48 years$725$410$220$114$58$41
49 years$702$391$207$106$53$37
50 years$681$374$195$98$48$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $697,000, adding $4,019 every year, while hoping to spend $56,546 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: 86/9/5 Blend
60$697,000$697,000$697,000$697,000
61$772,240$735,299$724,495$838,336
62$790,844$711,164$688,601$857,866
63$809,450$683,951$649,610$871,094
64$827,999$653,450$607,357$883,794
65$846,424$619,438$561,672$895,873
66$864,648$581,680$512,377$907,227
67$882,586$539,925$459,286$917,743
68$900,140$493,912$402,202$927,293
69$917,202$443,361$340,923$935,738
70$933,650$387,979$275,237$942,923
71$949,346$327,454$204,922$948,679
72$964,138$261,458$129,745$952,818
73$977,854$189,644$49,466$955,131
74$990,304$111,645$0$955,391
75$1,001,274$27,075$0$955,277
76$1,010,527$0$0$955,522
77$1,017,798$0$0$959,579
78$1,022,792$0$0$964,154
79$1,025,183$0$0$966,258
80$1,024,608$0$0$965,544
81$1,020,661$0$0$961,631
82$1,012,896$0$0$954,093
83$1,000,814$0$0$942,459
84$983,865$0$0$926,206
85$961,438$0$0$904,755
86$932,856$0$0$877,465
87$897,368$0$0$843,624
88$854,146$0$0$802,447
89$802,271$0$0$753,061
90$740,726$0$0$694,505
91$668,387$0$0$625,712
92$584,010$0$0$545,503
93$486,222$0$0$452,576
94$373,503$0$0$345,490
95$244,173$0$0$222,655
96$96,378$0$0$82,311
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0