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%19.3%
1 years$57,558$57,045$56,545$56,056$55,580$53,501
2 years$28,494$27,963$27,449$26,950$26,467$24,396
3 years$18,807$18,274$17,761$17,267$16,791$14,795
4 years$13,965$13,434$12,926$12,440$11,976$10,068
5 years$11,060$10,532$10,031$9,555$9,104$7,289
6 years$9,124$8,600$8,106$7,641$7,204$5,484
7 years$7,742$7,222$6,736$6,282$5,858$4,233
8 years$6,706$6,191$5,713$5,270$4,860$3,327
9 years$5,901$5,390$4,921$4,489$4,093$2,651
10 years$5,257$4,751$4,290$3,870$3,487$2,133
11 years$4,730$4,230$3,777$3,368$2,999$1,730
12 years$4,291$3,796$3,352$2,954$2,599$1,412
13 years$3,921$3,431$2,995$2,608$2,266$1,158
14 years$3,603$3,119$2,691$2,315$1,987$953
15 years$3,328$2,849$2,429$2,065$1,749$787
16 years$3,088$2,614$2,203$1,849$1,546$652
17 years$2,876$2,407$2,004$1,661$1,371$541
18 years$2,688$2,224$1,830$1,497$1,219$450
19 years$2,520$2,062$1,675$1,353$1,086$374
20 years$2,369$1,916$1,537$1,225$970$312
21 years$2,232$1,784$1,414$1,112$868$260
22 years$2,108$1,666$1,303$1,011$778$217
23 years$1,995$1,558$1,203$921$699$181
24 years$1,892$1,460$1,113$840$628$152
25 years$1,797$1,370$1,031$767$565$127
26 years$1,709$1,287$956$701$509$106
27 years$1,628$1,212$888$642$459$89
28 years$1,553$1,142$825$588$414$74
29 years$1,484$1,077$768$539$374$62
30 years$1,419$1,017$715$495$338$52
31 years$1,358$962$667$454$305$44
32 years$1,301$910$622$418$276$37
33 years$1,248$862$581$384$250$31
34 years$1,198$817$543$353$226$26
35 years$1,151$775$507$325$205$21
36 years$1,107$735$475$300$186$18
37 years$1,065$698$444$276$168$15
38 years$1,026$664$416$254$153$13
39 years$988$631$390$235$138$11
40 years$953$600$365$216$126$9
41 years$919$571$343$200$114$7
42 years$887$544$321$184$103$6
43 years$857$519$302$170$94$5
44 years$828$494$283$157$85$4
45 years$801$471$266$145$77$4
46 years$774$450$250$134$70$3
47 years$749$429$235$124$64$3
48 years$725$410$220$114$58$2
49 years$702$391$207$106$53$2
50 years$681$374$195$98$48$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $697,000, adding $2,821 every year, while hoping to spend $54,379 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: 75/12/13 Blend
60$697,000$697,000$697,000$697,000
61$771,004$734,063$723,259$826,560
62$791,787$712,173$689,630$841,734
63$812,868$687,388$653,051$851,281
64$834,220$659,509$613,367$860,250
65$855,809$628,324$570,414$868,566
66$877,601$593,611$524,022$876,147
67$899,552$555,134$474,013$882,907
68$921,614$512,643$420,200$888,747
69$943,731$465,875$362,389$893,562
70$965,840$414,551$300,377$897,239
71$987,868$358,376$233,952$899,652
72$1,009,733$297,039$162,892$900,664
73$1,031,343$230,212$86,966$900,127
74$1,052,594$157,546$5,933$897,879
75$1,073,368$78,675$0$893,743
76$1,093,534$0$0$898,698
77$1,112,943$0$0$903,862
78$1,131,429$0$0$918,638
79$1,148,808$0$0$932,482
80$1,164,871$0$0$945,223
81$1,179,388$0$0$956,668
82$1,192,100$0$0$966,604
83$1,202,719$0$0$974,794
84$1,210,927$0$0$980,970
85$1,216,365$0$0$984,839
86$1,218,639$0$0$986,073
87$1,217,308$0$0$984,308
88$1,211,884$0$0$979,138
89$1,201,824$0$0$970,116
90$1,186,528$0$0$956,743
91$1,165,329$0$0$938,468
92$1,137,487$0$0$914,679
93$1,102,183$0$0$884,699
94$1,058,512$0$0$847,778
95$1,005,470$0$0$803,086
96$941,946$0$0$749,703
97$866,710$0$0$686,613
98$778,404$0$0$612,692
99$675,525$0$0$526,696
100$556,410$0$0$427,252