Can I retire at age 61 with 699,000?

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 $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%11.9%
1 years$57,723$57,209$56,707$56,217$55,739$55,295
2 years$28,576$28,043$27,528$27,028$26,542$26,095
3 years$18,861$18,327$17,812$17,317$16,840$16,402
4 years$14,005$13,472$12,963$12,476$12,010$11,587
5 years$11,092$10,562$10,060$9,583$9,130$8,721
6 years$9,151$8,625$8,130$7,663$7,224$6,831
7 years$7,764$7,243$6,756$6,300$5,875$5,498
8 years$6,725$6,209$5,729$5,285$4,874$4,512
9 years$5,917$5,406$4,935$4,502$4,105$3,758
10 years$5,272$4,765$4,302$3,881$3,497$3,166
11 years$4,744$4,242$3,788$3,377$3,008$2,692
12 years$4,304$3,807$3,361$2,962$2,607$2,305
13 years$3,932$3,441$3,003$2,615$2,273$1,986
14 years$3,614$3,128$2,698$2,322$1,992$1,720
15 years$3,338$2,857$2,436$2,070$1,754$1,495
16 years$3,097$2,621$2,209$1,854$1,550$1,305
17 years$2,884$2,414$2,010$1,666$1,375$1,142
18 years$2,696$2,231$1,835$1,501$1,222$1,002
19 years$2,527$2,067$1,680$1,356$1,090$881
20 years$2,376$1,921$1,542$1,228$973$776
21 years$2,239$1,789$1,418$1,115$871$685
22 years$2,114$1,670$1,307$1,014$781$606
23 years$2,001$1,562$1,207$923$701$536
24 years$1,897$1,464$1,116$842$630$475
25 years$1,802$1,374$1,034$769$567$421
26 years$1,714$1,291$959$703$511$374
27 years$1,633$1,215$890$644$460$332
28 years$1,558$1,145$827$590$415$295
29 years$1,488$1,080$770$541$375$263
30 years$1,423$1,020$717$496$339$234
31 years$1,362$964$669$456$306$208
32 years$1,305$912$624$419$277$185
33 years$1,252$864$583$385$251$165
34 years$1,202$819$544$354$227$147
35 years$1,155$777$509$326$206$131
36 years$1,110$737$476$300$186$117
37 years$1,068$700$446$277$169$104
38 years$1,029$665$417$255$153$93
39 years$991$633$391$235$139$83
40 years$956$602$366$217$126$74
41 years$922$573$344$200$114$66
42 years$890$546$322$185$104$59
43 years$859$520$302$171$94$53
44 years$831$496$284$157$85$47
45 years$803$473$267$145$78$42
46 years$777$451$250$134$70$38
47 years$751$430$235$124$64$34
48 years$727$411$221$115$58$30
49 years$704$392$208$106$53$27
50 years$682$375$195$98$48$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $699,000, adding $5,532 every year, while hoping to spend $27,238 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: 49/30/21 Blend
60$699,000$699,000$699,000$699,000
61$776,004$738,957$728,123$809,196
62$826,176$746,185$723,534$840,053
63$880,552$752,854$717,878$870,352
64$939,532$758,909$711,092$902,700
65$1,003,558$764,288$703,106$937,302
66$1,073,112$768,929$693,852$974,384
67$1,148,727$772,765$683,253$1,014,196
68$1,230,989$775,722$671,234$1,057,014
69$1,320,542$777,724$657,712$1,103,145
70$1,418,095$778,691$642,604$1,152,928
71$1,524,428$778,534$625,819$1,206,738
72$1,640,401$777,163$607,264$1,264,989
73$1,766,958$774,481$586,844$1,328,140
74$1,905,140$770,382$564,455$1,396,699
75$2,056,092$764,759$539,992$1,471,225
76$2,221,074$757,493$513,343$1,552,341
77$2,401,476$748,462$484,392$1,640,730
78$2,598,825$737,535$453,018$1,737,150
79$2,814,804$724,574$419,093$1,842,440
80$3,051,266$709,430$382,485$1,957,525
81$3,310,252$691,949$343,055$2,083,428
82$3,594,009$671,966$300,659$2,221,279
83$3,905,012$649,306$255,144$2,372,326
84$4,245,986$623,784$206,354$2,537,950
85$4,619,933$595,206$154,124$2,719,675
86$5,030,160$563,365$98,281$2,919,182
87$5,480,308$528,042$38,645$3,138,332
88$5,974,389$489,006$0$3,379,176
89$6,516,822$446,012$0$3,649,584
90$7,112,474$398,803$0$3,956,060
91$7,766,706$347,104$0$4,292,747
92$8,485,427$290,629$0$4,662,743
93$9,275,142$229,071$0$5,069,465
94$10,143,020$162,110$0$5,516,682
95$11,096,959$89,404$0$6,008,552
96$12,145,660$10,596$0$6,549,659
97$13,298,707$0$0$7,145,060
98$14,566,663$0$0$7,824,989
99$15,961,162$0$0$8,576,708
100$17,495,023$0$0$9,403,639