Can I retire at age 61 with 702,000?

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 $702,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.7%
1 years$57,971$57,454$56,950$56,459$55,978$54,014
2 years$28,698$28,164$27,646$27,144$26,656$24,698
3 years$18,942$18,405$17,889$17,391$16,912$15,021
4 years$14,065$13,530$13,018$12,529$12,062$10,252
5 years$11,140$10,608$10,103$9,624$9,169$7,446
6 years$9,190$8,662$8,165$7,696$7,255$5,621
7 years$7,798$7,274$6,785$6,327$5,900$4,353
8 years$6,754$6,235$5,754$5,308$4,895$3,434
9 years$5,943$5,429$4,956$4,521$4,122$2,746
10 years$5,294$4,785$4,321$3,897$3,512$2,219
11 years$4,764$4,260$3,804$3,392$3,021$1,807
12 years$4,322$3,824$3,376$2,975$2,618$1,480
13 years$3,949$3,456$3,016$2,627$2,283$1,219
14 years$3,629$3,141$2,710$2,332$2,001$1,008
15 years$3,352$2,869$2,447$2,079$1,762$836
16 years$3,110$2,633$2,218$1,862$1,557$695
17 years$2,897$2,424$2,019$1,673$1,381$579
18 years$2,707$2,240$1,843$1,508$1,228$484
19 years$2,538$2,076$1,687$1,362$1,094$404
20 years$2,386$1,929$1,548$1,234$977$339
21 years$2,248$1,797$1,424$1,120$875$284
22 years$2,124$1,678$1,312$1,018$784$238
23 years$2,010$1,569$1,212$927$704$200
24 years$1,906$1,470$1,121$846$633$168
25 years$1,810$1,380$1,038$772$569$141
26 years$1,722$1,297$963$706$513$118
27 years$1,640$1,220$894$646$462$100
28 years$1,565$1,150$831$592$417$84
29 years$1,494$1,085$773$543$377$71
30 years$1,429$1,024$720$498$340$59
31 years$1,368$968$672$458$308$50
32 years$1,311$916$627$421$278$42
33 years$1,257$868$585$387$252$35
34 years$1,207$822$547$356$228$30
35 years$1,160$780$511$328$207$25
36 years$1,115$740$478$302$187$21
37 years$1,073$703$447$278$170$18
38 years$1,033$668$419$256$154$15
39 years$995$635$393$236$139$13
40 years$960$605$368$218$126$11
41 years$926$576$345$201$115$9
42 years$894$548$324$186$104$8
43 years$863$522$304$171$94$6
44 years$834$498$285$158$86$5
45 years$806$475$268$146$78$5
46 years$780$453$251$135$71$4
47 years$755$432$236$125$64$3
48 years$731$413$222$115$58$3
49 years$707$394$209$106$53$2
50 years$685$376$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 $702,000, adding $5,148 every year, while hoping to spend $36,062 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: 53/24/23 Blend
60$702,000$702,000$702,000$702,000
61$778,914$741,708$730,827$814,996
62$819,994$739,682$716,940$838,389
63$864,055$736,348$701,379$859,674
64$911,363$731,604$684,051$882,083
65$962,211$725,342$664,855$905,737
66$1,016,919$717,446$643,690$930,768
67$1,075,839$707,795$620,448$957,327
68$1,139,358$696,260$595,016$985,580
69$1,207,899$682,704$567,276$1,015,712
70$1,281,930$666,981$537,105$1,047,931
71$1,361,963$648,940$504,374$1,082,467
72$1,448,562$628,416$468,949$1,119,576
73$1,542,345$605,239$430,689$1,159,542
74$1,643,995$579,226$389,448$1,202,684
75$1,754,259$550,185$345,071$1,249,354
76$1,873,961$517,911$297,398$1,299,943
77$2,004,008$482,191$246,263$1,354,887
78$2,145,394$442,796$191,491$1,414,669
79$2,299,216$399,485$132,898$1,479,825
80$2,466,681$352,004$70,294$1,550,950
81$2,649,114$300,085$3,481$1,628,704
82$2,847,978$243,442$0$1,713,820
83$3,064,877$181,777$0$1,823,754
84$3,301,583$114,772$0$1,944,754
85$3,560,041$42,093$0$2,077,019
86$3,842,395$0$0$2,221,710
87$4,151,005$0$0$2,389,782
88$4,488,469$0$0$2,585,790
89$4,857,647$0$0$2,800,286
90$5,261,689$0$0$3,035,109
91$5,704,063$0$0$3,292,284
92$6,188,588$0$0$3,574,040
93$6,719,470$0$0$3,882,832
94$7,301,341$0$0$4,221,365
95$7,939,302$0$0$4,592,616
96$8,638,971$0$0$4,999,866
97$9,406,538$0$0$5,446,728
98$10,248,817$0$0$5,937,181
99$11,173,318$0$0$6,475,610
100$12,188,310$0$0$7,066,842