Can I retire at age 61 with 700,000?

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 $700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18%
1 years$57,805$57,290$56,788$56,298$55,819$54,011
2 years$28,617$28,084$27,567$27,066$26,580$24,775
3 years$18,888$18,353$17,838$17,342$16,864$15,119
4 years$14,025$13,491$12,981$12,494$12,027$10,356
5 years$11,108$10,577$10,074$9,596$9,143$7,549
6 years$9,164$8,637$8,141$7,674$7,235$5,720
7 years$7,776$7,254$6,765$6,309$5,884$4,448
8 years$6,735$6,218$5,738$5,293$4,881$3,524
9 years$5,926$5,414$4,942$4,508$4,111$2,830
10 years$5,279$4,772$4,308$3,886$3,502$2,296
11 years$4,750$4,248$3,793$3,382$3,012$1,878
12 years$4,310$3,813$3,366$2,967$2,610$1,546
13 years$3,938$3,446$3,008$2,619$2,276$1,279
14 years$3,619$3,132$2,702$2,325$1,995$1,063
15 years$3,343$2,861$2,440$2,073$1,757$886
16 years$3,101$2,625$2,212$1,857$1,553$740
17 years$2,889$2,418$2,013$1,668$1,377$620
18 years$2,700$2,234$1,837$1,503$1,224$521
19 years$2,531$2,070$1,682$1,358$1,091$438
20 years$2,379$1,924$1,544$1,230$975$368
21 years$2,242$1,792$1,420$1,117$872$310
22 years$2,117$1,673$1,309$1,015$782$262
23 years$2,004$1,565$1,208$925$702$221
24 years$1,900$1,466$1,118$843$631$187
25 years$1,805$1,376$1,035$770$568$158
26 years$1,717$1,293$960$704$511$133
27 years$1,635$1,217$891$645$461$113
28 years$1,560$1,147$829$591$416$95
29 years$1,490$1,082$771$542$376$81
30 years$1,425$1,021$718$497$339$68
31 years$1,364$966$670$456$307$58
32 years$1,307$914$625$419$278$49
33 years$1,254$865$583$386$251$41
34 years$1,203$820$545$355$227$35
35 years$1,156$778$510$327$206$30
36 years$1,112$738$477$301$187$25
37 years$1,070$701$446$277$169$21
38 years$1,030$666$418$256$153$18
39 years$993$634$391$236$139$15
40 years$957$603$367$217$126$13
41 years$923$574$344$201$114$11
42 years$891$547$323$185$104$9
43 years$861$521$303$171$94$8
44 years$832$496$284$158$86$7
45 years$804$473$267$146$78$6
46 years$778$452$251$135$70$5
47 years$753$431$236$124$64$4
48 years$728$411$221$115$58$3
49 years$705$393$208$106$53$3
50 years$683$375$196$98$48$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $700,000, adding $5,282 every year, while hoping to spend $50,530 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: 43/27/30 Blend
60$700,000$700,000$700,000$700,000
61$776,848$739,748$728,898$803,265
62$802,323$722,233$699,553$805,253
63$828,703$702,165$667,531$802,255
64$856,027$679,367$632,689$798,060
65$884,336$653,650$594,878$792,588
66$913,674$624,814$553,942$785,756
67$944,086$592,648$509,717$777,474
68$975,624$556,929$462,034$767,649
69$1,008,338$517,419$410,712$756,186
70$1,042,285$473,869$355,568$742,981
71$1,077,524$426,014$296,405$727,928
72$1,114,119$373,576$233,022$710,915
73$1,152,137$316,259$165,206$691,825
74$1,191,650$253,752$92,736$670,535
75$1,232,737$185,724$15,381$646,919
76$1,275,480$111,829$0$620,840
77$1,319,969$31,698$0$613,663
78$1,366,299$0$0$610,390
79$1,414,572$0$0$622,384
80$1,464,901$0$0$644,723
81$1,517,403$0$0$668,044
82$1,572,207$0$0$692,408
83$1,629,453$0$0$717,877
84$1,689,289$0$0$744,522
85$1,751,878$0$0$772,418
86$1,817,395$0$0$801,645
87$1,886,030$0$0$832,293
88$1,957,988$0$0$864,456
89$2,033,492$0$0$898,239
90$2,112,786$0$0$933,754
91$2,196,131$0$0$971,125
92$2,283,815$0$0$1,010,484
93$2,376,148$0$0$1,051,978
94$2,473,470$0$0$1,095,765
95$2,576,150$0$0$1,142,017
96$2,684,591$0$0$1,190,923
97$2,799,231$0$0$1,242,688
98$2,920,549$0$0$1,297,538
99$3,049,070$0$0$1,355,718
100$3,185,365$0$0$1,417,495