Can I retire at age 61 with 708,000?

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 $708,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.1%
1 years$58,466$57,945$57,437$56,941$56,457$55,499
2 years$28,944$28,405$27,882$27,376$26,884$25,922
3 years$19,104$18,563$18,042$17,540$17,056$16,120
4 years$14,185$13,646$13,130$12,636$12,165$11,261
5 years$11,235$10,698$10,189$9,706$9,248$8,379
6 years$9,268$8,736$8,234$7,762$7,317$6,486
7 years$7,864$7,336$6,843$6,382$5,951$5,156
8 years$6,812$6,289$5,803$5,353$4,937$4,179
9 years$5,994$5,475$4,998$4,560$4,158$3,436
10 years$5,339$4,826$4,358$3,931$3,542$2,856
11 years$4,805$4,297$3,836$3,421$3,047$2,395
12 years$4,359$3,856$3,405$3,001$2,640$2,023
13 years$3,983$3,485$3,042$2,649$2,302$1,718
14 years$3,660$3,168$2,733$2,351$2,018$1,466
15 years$3,381$2,894$2,468$2,097$1,777$1,256
16 years$3,137$2,655$2,237$1,878$1,570$1,079
17 years$2,922$2,445$2,036$1,687$1,392$930
18 years$2,730$2,259$1,858$1,520$1,238$803
19 years$2,560$2,094$1,701$1,374$1,104$695
20 years$2,406$1,946$1,561$1,244$986$603
21 years$2,268$1,813$1,436$1,129$882$523
22 years$2,142$1,692$1,324$1,027$791$455
23 years$2,027$1,582$1,222$935$710$396
24 years$1,922$1,483$1,130$853$638$345
25 years$1,825$1,391$1,047$779$574$300
26 years$1,736$1,308$971$712$517$262
27 years$1,654$1,231$902$652$466$229
28 years$1,578$1,160$838$597$421$200
29 years$1,507$1,094$780$548$380$175
30 years$1,441$1,033$727$503$343$153
31 years$1,380$977$677$462$310$133
32 years$1,322$924$632$424$281$117
33 years$1,268$875$590$390$254$102
34 years$1,217$829$551$359$230$89
35 years$1,169$787$515$330$208$78
36 years$1,124$747$482$304$189$68
37 years$1,082$709$451$280$171$60
38 years$1,042$674$423$258$155$52
39 years$1,004$641$396$238$141$46
40 years$968$610$371$220$128$40
41 years$934$580$348$203$116$35
42 years$901$553$326$187$105$31
43 years$871$527$306$173$95$27
44 years$841$502$288$160$87$24
45 years$813$479$270$147$79$21
46 years$787$457$254$136$71$18
47 years$761$436$238$126$65$16
48 years$737$416$224$116$59$14
49 years$714$397$210$107$53$12
50 years$691$380$198$99$49$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $708,000, adding $3,153 every year, while hoping to spend $22,815 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: 56/37/7 Blend
60$708,000$708,000$708,000$708,000
61$783,468$745,944$734,970$825,936
62$839,107$758,221$735,317$867,198
63$899,656$770,334$734,910$909,296
64$965,593$782,252$733,701$954,586
65$1,037,441$793,940$731,638$1,003,375
66$1,115,779$805,362$728,667$1,056,003
67$1,201,242$816,478$724,731$1,112,840
68$1,294,529$827,245$719,769$1,174,299
69$1,396,410$837,620$713,721$1,240,832
70$1,507,733$847,552$706,519$1,312,940
71$1,629,431$856,991$698,097$1,391,172
72$1,762,531$865,882$688,381$1,476,137
73$1,908,164$874,166$677,298$1,568,505
74$2,067,577$881,780$664,767$1,669,014
75$2,242,140$888,658$650,707$1,778,479
76$2,433,365$894,728$635,032$1,897,798
77$2,642,914$899,915$617,652$2,027,963
78$2,872,619$904,139$598,471$2,170,065
79$3,124,499$907,314$577,392$2,325,309
80$3,400,774$909,349$554,311$2,495,025
81$3,703,893$910,148$529,121$2,680,677
82$4,036,552$909,607$501,708$2,883,881
83$4,401,721$907,618$471,956$3,106,420
84$4,802,670$904,064$439,739$3,350,257
85$5,243,002$898,824$404,931$3,617,561
86$5,726,689$891,766$367,396$3,910,720
87$6,258,101$882,753$326,995$4,232,369
88$6,842,058$871,638$283,579$4,585,414
89$7,483,865$858,266$236,996$4,973,059
90$8,189,370$842,472$187,086$5,398,836
91$8,965,014$824,081$133,682$5,866,642
92$9,817,895$802,910$76,610$6,380,771
93$10,755,830$778,763$15,686$6,945,960
94$11,787,435$751,432$0$7,567,432
95$12,922,200$720,700$0$8,254,628
96$14,170,584$686,333$0$9,011,703
97$15,544,107$648,088$0$9,844,499
98$17,055,467$605,704$0$10,760,751
99$18,718,649$558,909$0$11,768,983
100$20,549,067$507,411$0$12,878,596