Can I retire at age 61 with 705,000?

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 $705,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$58,218$57,700$57,194$56,700$56,218$54,836
2 years$28,821$28,284$27,764$27,260$26,770$25,387
3 years$19,023$18,484$17,965$17,465$16,984$15,643
4 years$14,125$13,588$13,074$12,583$12,113$10,823
5 years$11,187$10,653$10,146$9,665$9,208$7,974
6 years$9,229$8,699$8,199$7,729$7,286$6,108
7 years$7,831$7,305$6,814$6,354$5,926$4,804
8 years$6,783$6,262$5,779$5,331$4,916$3,851
9 years$5,968$5,452$4,977$4,541$4,140$3,130
10 years$5,317$4,806$4,339$3,914$3,527$2,572
11 years$4,784$4,278$3,820$3,406$3,034$2,131
12 years$4,341$3,840$3,390$2,988$2,629$1,778
13 years$3,966$3,470$3,029$2,638$2,292$1,491
14 years$3,645$3,154$2,722$2,342$2,010$1,256
15 years$3,366$2,882$2,457$2,088$1,769$1,061
16 years$3,123$2,644$2,228$1,870$1,564$900
17 years$2,909$2,435$2,027$1,680$1,387$765
18 years$2,719$2,250$1,851$1,514$1,233$652
19 years$2,549$2,085$1,694$1,368$1,099$556
20 years$2,396$1,938$1,555$1,239$982$475
21 years$2,258$1,805$1,430$1,124$878$407
22 years$2,133$1,685$1,318$1,022$787$348
23 years$2,018$1,576$1,217$931$707$299
24 years$1,914$1,476$1,126$849$635$256
25 years$1,818$1,385$1,042$776$572$220
26 years$1,729$1,302$967$709$515$189
27 years$1,647$1,225$898$649$464$162
28 years$1,571$1,155$835$595$419$140
29 years$1,501$1,089$777$545$378$120
30 years$1,435$1,029$723$501$342$103
31 years$1,374$973$674$460$309$89
32 years$1,316$920$629$422$279$77
33 years$1,263$871$588$388$253$66
34 years$1,212$826$549$357$229$57
35 years$1,164$783$513$329$207$49
36 years$1,120$744$480$303$188$42
37 years$1,077$706$449$279$170$36
38 years$1,037$671$421$257$154$31
39 years$1,000$638$394$237$140$27
40 years$964$607$370$219$127$23
41 years$930$578$347$202$115$20
42 years$898$550$325$186$105$17
43 years$867$524$305$172$95$15
44 years$838$500$286$159$86$13
45 years$810$477$269$147$78$11
46 years$783$455$253$136$71$10
47 years$758$434$237$125$64$8
48 years$734$414$223$116$59$7
49 years$710$396$210$107$53$6
50 years$688$378$197$99$48$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $705,000, adding $2,189 every year, while hoping to spend $25,620 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: 42/40/18 Blend
60$705,000$705,000$705,000$705,000
61$779,168$741,803$730,875$807,701
62$831,384$750,892$728,100$837,187
63$888,067$759,567$724,374$866,428
64$949,645$767,782$719,636$897,555
65$1,016,592$775,486$713,826$930,755
66$1,089,424$782,625$706,880$966,232
67$1,168,714$789,142$698,728$1,004,215
68$1,255,088$794,975$689,301$1,044,955
69$1,349,238$800,060$678,524$1,088,731
70$1,451,924$804,327$666,318$1,135,851
71$1,563,984$807,702$652,604$1,186,658
72$1,686,339$810,108$637,294$1,241,528
73$1,820,003$811,461$620,301$1,300,879
74$1,966,093$811,673$601,531$1,365,175
75$2,125,839$810,649$580,886$1,434,927
76$2,300,593$808,289$558,265$1,510,700
77$2,491,847$804,489$533,560$1,593,120
78$2,701,241$799,135$506,661$1,682,879
79$2,930,584$792,108$477,449$1,780,742
80$3,181,864$783,282$445,805$1,887,554
81$3,457,274$772,524$411,600$2,004,250
82$3,759,229$759,690$374,700$2,131,863
83$4,090,386$744,630$334,969$2,271,535
84$4,453,674$727,186$292,259$2,424,527
85$4,852,318$707,188$246,419$2,592,233
86$5,289,873$684,457$197,292$2,776,194
87$5,770,249$658,806$144,711$2,978,111
88$6,297,760$630,033$88,505$3,199,862
89$6,877,154$597,927$28,492$3,443,524
90$7,513,663$562,263$0$3,711,390
91$8,213,048$522,807$0$4,012,819
92$8,981,661$479,306$0$4,350,063
93$9,826,494$431,496$0$4,720,769
94$10,755,255$379,097$0$5,128,386
95$11,776,433$321,815$0$5,576,720
96$12,899,382$259,336$0$6,069,968
97$14,134,406$191,331$0$6,612,763
98$15,492,860$117,452$0$7,210,211
99$16,987,255$37,329$0$7,867,949
100$18,631,372$0$0$8,592,192