Can I retire at age 61 with 706,000?

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 $706,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.1%
1 years$58,301$57,782$57,275$56,780$56,297$54,235
2 years$28,862$28,324$27,803$27,298$26,808$24,754
3 years$19,050$18,510$17,991$17,490$17,008$15,026
4 years$14,145$13,607$13,093$12,601$12,130$10,235
5 years$11,203$10,668$10,160$9,679$9,221$7,418
6 years$9,242$8,711$8,211$7,740$7,297$5,587
7 years$7,842$7,316$6,823$6,364$5,934$4,318
8 years$6,793$6,271$5,787$5,338$4,923$3,398
9 years$5,977$5,460$4,984$4,547$4,146$2,711
10 years$5,324$4,813$4,345$3,920$3,532$2,184
11 years$4,791$4,284$3,826$3,411$3,038$1,774
12 years$4,347$3,845$3,395$2,992$2,633$1,450
13 years$3,971$3,475$3,033$2,642$2,296$1,190
14 years$3,650$3,159$2,725$2,345$2,012$981
15 years$3,371$2,886$2,461$2,091$1,772$812
16 years$3,128$2,648$2,231$1,872$1,566$673
17 years$2,913$2,438$2,030$1,682$1,389$559
18 years$2,723$2,253$1,853$1,516$1,235$466
19 years$2,553$2,088$1,697$1,370$1,100$388
20 years$2,399$1,940$1,557$1,241$983$324
21 years$2,261$1,807$1,432$1,126$880$271
22 years$2,136$1,687$1,320$1,024$788$226
23 years$2,021$1,578$1,219$932$708$189
24 years$1,916$1,478$1,127$850$636$158
25 years$1,820$1,387$1,044$777$572$133
26 years$1,731$1,304$968$710$516$111
27 years$1,650$1,227$899$650$465$93
28 years$1,574$1,156$836$596$419$78
29 years$1,503$1,091$778$546$379$66
30 years$1,437$1,030$724$501$342$55
31 years$1,376$974$675$460$309$46
32 years$1,318$922$630$423$280$39
33 years$1,264$873$588$389$253$32
34 years$1,214$827$550$358$229$27
35 years$1,166$785$514$330$208$23
36 years$1,121$745$481$303$188$19
37 years$1,079$707$450$280$171$16
38 years$1,039$672$421$258$155$14
39 years$1,001$639$395$238$140$11
40 years$965$608$370$219$127$10
41 years$931$579$347$202$115$8
42 years$899$551$326$187$105$7
43 years$868$525$305$172$95$6
44 years$839$501$287$159$86$5
45 years$811$477$269$147$78$4
46 years$784$455$253$136$71$3
47 years$759$435$238$125$65$3
48 years$735$415$223$116$59$2
49 years$712$396$210$107$53$2
50 years$689$378$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 $706,000, adding $3,413 every year, while hoping to spend $45,994 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: 45/28/27 Blend
60$706,000$706,000$706,000$706,000
61$781,533$744,115$733,172$810,469
62$812,312$731,639$708,795$818,868
63$844,689$717,010$682,061$823,273
64$878,778$700,075$652,842$827,159
65$914,704$680,670$621,003$830,504
66$952,603$658,622$586,405$833,284
67$992,623$633,748$548,904$835,479
68$1,034,924$605,856$508,346$837,070
69$1,079,684$574,740$464,573$838,039
70$1,127,093$540,184$417,418$838,373
71$1,177,363$501,959$366,708$838,060
72$1,230,722$459,823$312,261$837,091
73$1,287,422$413,521$253,888$835,464
74$1,347,737$362,781$191,391$833,181
75$1,411,968$307,319$124,564$830,248
76$1,480,443$246,832$53,191$826,681
77$1,553,523$181,002$0$822,502
78$1,631,602$109,491$0$824,361
79$1,715,114$31,944$0$842,465
80$1,804,532$0$0$861,597
81$1,900,377$0$0$897,926
82$2,003,219$0$0$947,525
83$2,113,684$0$0$1,000,860
84$2,232,460$0$0$1,058,270
85$2,360,302$0$0$1,120,130
86$2,498,038$0$0$1,186,847
87$2,646,577$0$0$1,258,872
88$2,806,921$0$0$1,336,699
89$2,980,167$0$0$1,420,871
90$3,167,522$0$0$1,511,986
91$3,370,315$0$0$1,610,698
92$3,590,003$0$0$1,717,731
93$3,828,190$0$0$1,833,878
94$4,086,641$0$0$1,960,012
95$4,367,295$0$0$2,097,091
96$4,672,286$0$0$2,246,174
97$5,003,961$0$0$2,408,421
98$5,364,902$0$0$2,585,111
99$5,757,952$0$0$2,777,651
100$6,186,236$0$0$2,987,589