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%14.1%
1 years$57,723$57,209$56,707$56,217$55,739$54,793
2 years$28,576$28,043$27,528$27,028$26,542$25,592
3 years$18,861$18,327$17,812$17,317$16,840$15,915
4 years$14,005$13,472$12,963$12,476$12,010$11,118
5 years$11,092$10,562$10,060$9,583$9,130$8,273
6 years$9,151$8,625$8,130$7,663$7,224$6,403
7 years$7,764$7,243$6,756$6,300$5,875$5,091
8 years$6,725$6,209$5,729$5,285$4,874$4,126
9 years$5,917$5,406$4,935$4,502$4,105$3,392
10 years$5,272$4,765$4,302$3,881$3,497$2,820
11 years$4,744$4,242$3,788$3,377$3,008$2,365
12 years$4,304$3,807$3,361$2,962$2,607$1,997
13 years$3,932$3,441$3,003$2,615$2,273$1,696
14 years$3,614$3,128$2,698$2,322$1,992$1,447
15 years$3,338$2,857$2,436$2,070$1,754$1,240
16 years$3,097$2,621$2,209$1,854$1,550$1,065
17 years$2,884$2,414$2,010$1,666$1,375$918
18 years$2,696$2,231$1,835$1,501$1,222$793
19 years$2,527$2,067$1,680$1,356$1,090$686
20 years$2,376$1,921$1,542$1,228$973$595
21 years$2,239$1,789$1,418$1,115$871$516
22 years$2,114$1,670$1,307$1,014$781$449
23 years$2,001$1,562$1,207$923$701$391
24 years$1,897$1,464$1,116$842$630$340
25 years$1,802$1,374$1,034$769$567$297
26 years$1,714$1,291$959$703$511$259
27 years$1,633$1,215$890$644$460$226
28 years$1,558$1,145$827$590$415$197
29 years$1,488$1,080$770$541$375$172
30 years$1,423$1,020$717$496$339$151
31 years$1,362$964$669$456$306$132
32 years$1,305$912$624$419$277$115
33 years$1,252$864$583$385$251$101
34 years$1,202$819$544$354$227$88
35 years$1,155$777$509$326$206$77
36 years$1,110$737$476$300$186$68
37 years$1,068$700$446$277$169$59
38 years$1,029$665$417$255$153$52
39 years$991$633$391$235$139$45
40 years$956$602$366$217$126$40
41 years$922$573$344$200$114$35
42 years$890$546$322$185$104$30
43 years$859$520$302$171$94$27
44 years$831$496$284$157$85$23
45 years$803$473$267$145$78$20
46 years$777$451$250$134$70$18
47 years$751$430$235$124$64$16
48 years$727$411$221$115$58$14
49 years$704$392$208$106$53$12
50 years$682$375$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 $699,000, adding $3,541 every year, while hoping to spend $26,431 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: 71/19/10 Blend
60$699,000$699,000$699,000$699,000
61$773,951$736,904$726,069$827,155
62$824,771$744,889$722,270$870,821
63$879,890$752,381$717,458$915,017
64$939,716$759,325$711,571$962,681
65$1,004,703$765,668$704,544$1,014,145
66$1,075,346$771,349$696,309$1,069,782
67$1,152,191$776,305$686,796$1,129,997
68$1,235,841$780,470$675,929$1,195,241
69$1,326,955$783,772$663,632$1,266,009
70$1,426,263$786,135$649,822$1,342,847
71$1,534,565$787,479$634,414$1,426,356
72$1,652,742$787,717$617,319$1,517,201
73$1,781,766$786,759$598,443$1,616,113
74$1,922,704$784,508$577,688$1,723,898
75$2,076,732$780,862$554,954$1,841,446
76$2,245,146$775,711$530,131$1,969,737
77$2,429,370$768,940$503,110$2,109,852
78$2,630,975$760,427$473,773$2,262,982
79$2,851,688$750,041$441,998$2,430,443
80$3,093,413$737,646$407,658$2,613,681
81$3,358,246$723,096$370,619$2,814,295
82$3,648,495$706,235$330,743$3,034,046
83$3,966,702$686,901$287,883$3,274,875
84$4,315,667$664,921$241,889$3,538,922
85$4,698,474$640,111$192,601$3,828,548
86$5,118,519$612,277$139,854$4,146,355
87$5,579,544$581,215$83,476$4,495,212
88$6,085,671$546,708$23,285$4,878,280
89$6,641,438$508,525$0$5,299,048
90$7,251,847$466,425$0$5,765,729
91$7,922,406$420,151$0$6,281,126
92$8,659,185$369,432$0$6,847,448
93$9,468,869$313,981$0$7,469,869
94$10,358,824$253,497$0$8,154,090
95$11,337,165$187,659$0$8,906,397
96$12,412,831$116,130$0$9,733,718
97$13,595,673$38,552$0$10,643,689
98$14,896,541$0$0$11,644,724
99$16,327,392$0$0$12,755,602
100$17,901,400$0$0$13,986,529