Can I retire at age 61 with 698,000?

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 $698,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$57,640$57,127$56,626$56,137$55,660$54,760
2 years$28,535$28,003$27,488$26,989$26,505$25,601
3 years$18,834$18,300$17,787$17,292$16,816$15,936
4 years$13,985$13,453$12,944$12,458$11,993$11,144
5 years$11,076$10,547$10,045$9,569$9,117$8,301
6 years$9,137$8,613$8,118$7,652$7,214$6,432
7 years$7,753$7,233$6,746$6,291$5,867$5,119
8 years$6,716$6,200$5,721$5,278$4,867$4,153
9 years$5,909$5,398$4,928$4,495$4,099$3,419
10 years$5,264$4,758$4,296$3,875$3,492$2,846
11 years$4,737$4,236$3,782$3,373$3,004$2,389
12 years$4,298$3,802$3,357$2,958$2,603$2,020
13 years$3,926$3,436$2,999$2,612$2,270$1,718
14 years$3,608$3,123$2,695$2,318$1,990$1,468
15 years$3,333$2,853$2,433$2,067$1,752$1,259
16 years$3,092$2,618$2,206$1,851$1,548$1,084
17 years$2,880$2,411$2,007$1,663$1,373$935
18 years$2,692$2,228$1,832$1,499$1,221$809
19 years$2,524$2,064$1,677$1,354$1,088$701
20 years$2,372$1,918$1,539$1,227$972$609
21 years$2,236$1,787$1,416$1,113$870$529
22 years$2,111$1,668$1,305$1,012$780$461
23 years$1,998$1,560$1,205$922$700$402
24 years$1,895$1,462$1,114$841$629$350
25 years$1,800$1,372$1,032$768$566$306
26 years$1,712$1,289$957$702$510$267
27 years$1,631$1,213$889$643$460$234
28 years$1,556$1,143$826$589$415$204
29 years$1,486$1,079$769$540$374$179
30 years$1,421$1,019$716$496$338$157
31 years$1,360$963$668$455$306$137
32 years$1,303$911$623$418$277$120
33 years$1,250$863$582$385$250$105
34 years$1,200$818$544$354$227$92
35 years$1,153$776$508$326$205$81
36 years$1,109$736$475$300$186$71
37 years$1,067$699$445$276$169$62
38 years$1,027$664$417$255$153$55
39 years$990$632$390$235$139$48
40 years$954$601$366$217$126$42
41 years$921$572$343$200$114$37
42 years$889$545$322$185$104$32
43 years$858$519$302$170$94$28
44 years$829$495$283$157$85$25
45 years$802$472$266$145$77$22
46 years$775$450$250$134$70$19
47 years$750$430$235$124$64$17
48 years$726$410$221$115$58$15
49 years$703$392$207$106$53$13
50 years$681$374$195$98$48$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $698,000, adding $3,471 every year, while hoping to spend $27,880 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: 37/46/17 Blend
60$698,000$698,000$698,000$698,000
61$772,776$735,782$724,963$797,272
62$821,935$742,172$719,586$821,648
63$875,174$747,939$713,093$845,060
64$932,880$753,026$705,419$869,759
65$995,477$757,368$696,494$895,874
66$1,063,433$760,897$686,245$923,553
67$1,137,264$763,541$674,594$952,955
68$1,217,533$765,223$661,462$984,261
69$1,304,865$765,862$646,764$1,017,670
70$1,399,944$765,372$630,413$1,053,404
71$1,503,523$763,660$612,317$1,091,711
72$1,616,432$760,629$592,379$1,132,864
73$1,739,583$756,175$570,499$1,177,169
74$1,873,982$750,189$546,572$1,224,963
75$2,020,733$742,553$520,487$1,276,621
76$2,181,055$733,145$492,130$1,332,561
77$2,356,286$721,834$461,381$1,393,244
78$2,547,904$708,480$428,114$1,459,184
79$2,757,532$692,937$392,197$1,530,949
80$2,986,959$675,049$353,494$1,609,168
81$3,238,154$654,652$311,862$1,694,541
82$3,513,287$631,571$267,150$1,787,842
83$3,814,746$605,622$219,203$1,889,928
84$4,145,161$576,609$167,858$2,001,749
85$4,507,430$544,325$112,944$2,124,356
86$4,904,744$508,553$54,283$2,258,914
87$5,340,616$469,061$0$2,406,713
88$5,818,919$425,604$0$2,570,687
89$6,343,915$377,926$0$2,761,513
90$6,920,303$325,752$0$2,971,117
91$7,553,255$268,795$0$3,201,468
92$8,248,472$206,751$0$3,454,745
93$9,012,231$139,297$0$3,733,351
94$9,851,449$66,093$0$4,039,942
95$10,773,747$0$0$4,377,452
96$11,787,520$0$0$4,755,812
97$12,902,014$0$0$5,208,648
98$14,127,421$0$0$5,706,656
99$15,474,965$0$0$6,254,414
100$16,957,014$0$0$6,856,961