Can I retire at age 61 with 704,000?

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 $704,000?

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$58,136$57,618$57,113$56,619$56,138$54,168
2 years$28,780$28,244$27,725$27,221$26,732$24,768
3 years$18,996$18,458$17,940$17,441$16,960$15,063
4 years$14,105$13,568$13,055$12,565$12,096$10,282
5 years$11,171$10,638$10,132$9,651$9,195$7,468
6 years$9,216$8,687$8,188$7,718$7,276$5,637
7 years$7,820$7,295$6,804$6,345$5,917$4,366
8 years$6,773$6,253$5,770$5,323$4,909$3,444
9 years$5,960$5,444$4,970$4,534$4,134$2,754
10 years$5,309$4,799$4,333$3,908$3,522$2,225
11 years$4,777$4,272$3,815$3,401$3,029$1,812
12 years$4,335$3,835$3,385$2,984$2,625$1,484
13 years$3,960$3,465$3,025$2,634$2,289$1,222
14 years$3,639$3,150$2,718$2,338$2,007$1,011
15 years$3,362$2,877$2,454$2,085$1,767$838
16 years$3,119$2,640$2,225$1,867$1,562$697
17 years$2,905$2,431$2,024$1,678$1,385$581
18 years$2,715$2,247$1,848$1,512$1,231$485
19 years$2,545$2,082$1,692$1,366$1,097$406
20 years$2,393$1,935$1,553$1,237$980$340
21 years$2,255$1,802$1,428$1,123$877$285
22 years$2,130$1,682$1,316$1,021$786$239
23 years$2,015$1,573$1,215$930$706$200
24 years$1,911$1,474$1,124$848$634$168
25 years$1,815$1,384$1,041$774$571$141
26 years$1,727$1,300$965$708$514$119
27 years$1,645$1,224$897$648$464$100
28 years$1,569$1,153$833$594$418$84
29 years$1,499$1,088$776$545$378$71
30 years$1,433$1,027$722$500$341$60
31 years$1,372$971$673$459$309$50
32 years$1,314$919$628$422$279$42
33 years$1,261$870$587$388$253$35
34 years$1,210$825$548$357$229$30
35 years$1,163$782$513$329$207$25
36 years$1,118$743$479$303$188$21
37 years$1,076$705$449$279$170$18
38 years$1,036$670$420$257$154$15
39 years$998$637$394$237$140$13
40 years$962$606$369$219$127$11
41 years$929$577$346$202$115$9
42 years$896$550$325$186$104$8
43 years$866$524$305$172$95$6
44 years$836$499$286$159$86$5
45 years$809$476$268$146$78$5
46 years$782$454$252$135$71$4
47 years$757$433$237$125$64$3
48 years$733$414$223$116$58$3
49 years$709$395$209$107$53$2
50 years$687$377$197$99$48$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $704,000, adding $3,934 every year, while hoping to spend $53,990 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$704,000$704,000$704,000$704,000
61$779,866$742,554$731,642$813,295
62$801,967$721,494$698,707$815,864
63$824,514$697,593$662,859$812,866
64$847,493$670,654$623,944$808,485
65$870,891$640,470$581,800$802,612
66$894,690$606,820$536,258$795,131
67$918,867$569,474$487,142$785,921
68$943,398$528,184$434,267$774,849
69$968,251$482,692$377,442$761,776
70$993,391$432,722$316,464$746,553
71$1,018,776$377,985$251,125$729,020
72$1,044,358$318,173$181,205$709,007
73$1,070,082$252,963$106,475$686,334
74$1,095,885$182,013$26,696$660,807
75$1,121,695$104,961$0$632,219
76$1,147,428$21,425$0$613,444
77$1,172,994$0$0$598,387
78$1,198,285$0$0$603,645
79$1,223,184$0$0$615,723
80$1,247,557$0$0$627,474
81$1,271,254$0$0$638,815
82$1,294,106$0$0$649,654
83$1,315,924$0$0$659,887
84$1,336,497$0$0$669,400
85$1,355,588$0$0$678,062
86$1,372,934$0$0$685,729
87$1,388,240$0$0$692,242
88$1,401,178$0$0$697,421
89$1,411,383$0$0$701,067
90$1,418,448$0$0$702,959
91$1,421,921$0$0$702,850
92$1,421,301$0$0$700,469
93$1,416,030$0$0$695,512
94$1,405,488$0$0$687,643
95$1,388,988$0$0$676,488
96$1,365,771$0$0$661,634
97$1,334,991$0$0$642,624
98$1,295,714$0$0$618,951
99$1,246,904$0$0$590,052
100$1,187,415$0$0$555,307