Can I retire at age 61 with 699,000?

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 $699,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.6%
1 years$57,723$57,209$56,707$56,217$55,739$53,804
2 years$28,576$28,043$27,528$27,028$26,542$24,613
3 years$18,861$18,327$17,812$17,317$16,840$14,976
4 years$14,005$13,472$12,963$12,476$12,010$10,227
5 years$11,092$10,562$10,060$9,583$9,130$7,432
6 years$9,151$8,625$8,130$7,663$7,224$5,613
7 years$7,764$7,243$6,756$6,300$5,875$4,350
8 years$6,725$6,209$5,729$5,285$4,874$3,434
9 years$5,917$5,406$4,935$4,502$4,105$2,747
10 years$5,272$4,765$4,302$3,881$3,497$2,221
11 years$4,744$4,242$3,788$3,377$3,008$1,810
12 years$4,304$3,807$3,361$2,962$2,607$1,484
13 years$3,932$3,441$3,003$2,615$2,273$1,223
14 years$3,614$3,128$2,698$2,322$1,992$1,011
15 years$3,338$2,857$2,436$2,070$1,754$840
16 years$3,097$2,621$2,209$1,854$1,550$699
17 years$2,884$2,414$2,010$1,666$1,375$583
18 years$2,696$2,231$1,835$1,501$1,222$487
19 years$2,527$2,067$1,680$1,356$1,090$407
20 years$2,376$1,921$1,542$1,228$973$341
21 years$2,239$1,789$1,418$1,115$871$286
22 years$2,114$1,670$1,307$1,014$781$240
23 years$2,001$1,562$1,207$923$701$202
24 years$1,897$1,464$1,116$842$630$170
25 years$1,802$1,374$1,034$769$567$143
26 years$1,714$1,291$959$703$511$120
27 years$1,633$1,215$890$644$460$101
28 years$1,558$1,145$827$590$415$85
29 years$1,488$1,080$770$541$375$72
30 years$1,423$1,020$717$496$339$60
31 years$1,362$964$669$456$306$51
32 years$1,305$912$624$419$277$43
33 years$1,252$864$583$385$251$36
34 years$1,202$819$544$354$227$30
35 years$1,155$777$509$326$206$26
36 years$1,110$737$476$300$186$22
37 years$1,068$700$446$277$169$18
38 years$1,029$665$417$255$153$15
39 years$991$633$391$235$139$13
40 years$956$602$366$217$126$11
41 years$922$573$344$200$114$9
42 years$890$546$322$185$104$8
43 years$859$520$302$171$94$7
44 years$831$496$284$157$85$6
45 years$803$473$267$145$78$5
46 years$777$451$250$134$70$4
47 years$751$430$235$124$64$3
48 years$727$411$221$115$58$3
49 years$704$392$208$106$53$2
50 years$682$375$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 $699,000, adding $3,367 every year, while hoping to spend $26,606 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: 54/30/16 Blend
60$699,000$699,000$699,000$699,000
61$773,771$736,724$725,890$812,075
62$824,387$744,515$721,898$846,375
63$879,274$751,796$716,882$880,566
64$938,840$758,514$710,777$917,187
65$1,003,533$764,612$703,519$956,474
66$1,073,846$770,031$695,039$998,693
67$1,150,321$774,705$685,266$1,044,132
68$1,233,555$778,567$674,124$1,093,115
69$1,324,206$781,544$661,535$1,145,995
70$1,422,994$783,560$647,416$1,203,164
71$1,530,716$784,531$631,681$1,265,057
72$1,648,247$784,371$614,241$1,332,152
73$1,776,551$782,987$595,000$1,404,977
74$1,916,687$780,281$573,860$1,484,116
75$2,069,822$776,149$550,718$1,570,214
76$2,237,244$770,480$525,466$1,663,984
77$2,420,365$763,156$497,992$1,766,211
78$2,620,746$754,053$468,178$1,877,766
79$2,840,100$743,040$435,900$1,999,606
80$3,080,318$729,977$401,030$2,132,791
81$3,343,479$714,715$363,434$2,278,490
82$3,631,876$697,097$322,971$2,437,995
83$3,948,030$676,959$279,494$2,612,730
84$4,294,723$654,123$232,850$2,804,268
85$4,675,013$628,404$182,879$3,014,347
86$5,092,274$599,605$129,415$3,244,884
87$5,550,218$567,517$72,282$3,497,993
88$6,052,936$531,921$11,300$3,776,009
89$6,604,934$492,584$0$4,081,511
90$7,211,175$449,259$0$4,426,522
91$7,877,129$401,686$0$4,807,654
92$8,608,817$349,590$0$5,226,475
93$9,412,877$292,681$0$5,686,841
94$10,296,618$230,650$0$6,193,007
95$11,268,096$163,174$0$6,749,662
96$12,336,182$89,911$0$7,361,979
97$13,510,654$10,498$0$8,035,662
98$14,802,282$0$0$8,776,998
99$16,222,932$0$0$9,617,831
100$17,785,680$0$0$10,546,653