Can I retire at age 61 with 708,000?

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 $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%12.9%
1 years$58,466$57,945$57,437$56,941$56,457$55,775
2 years$28,944$28,405$27,882$27,376$26,884$26,198
3 years$19,104$18,563$18,042$17,540$17,056$16,387
4 years$14,185$13,646$13,130$12,636$12,165$11,517
5 years$11,235$10,698$10,189$9,706$9,248$8,624
6 years$9,268$8,736$8,234$7,762$7,317$6,718
7 years$7,864$7,336$6,843$6,382$5,951$5,377
8 years$6,812$6,289$5,803$5,353$4,937$4,388
9 years$5,994$5,475$4,998$4,560$4,158$3,633
10 years$5,339$4,826$4,358$3,931$3,542$3,043
11 years$4,805$4,297$3,836$3,421$3,047$2,571
12 years$4,359$3,856$3,405$3,001$2,640$2,188
13 years$3,983$3,485$3,042$2,649$2,302$1,873
14 years$3,660$3,168$2,733$2,351$2,018$1,611
15 years$3,381$2,894$2,468$2,097$1,777$1,391
16 years$3,137$2,655$2,237$1,878$1,570$1,206
17 years$2,922$2,445$2,036$1,687$1,392$1,048
18 years$2,730$2,259$1,858$1,520$1,238$913
19 years$2,560$2,094$1,701$1,374$1,104$797
20 years$2,406$1,946$1,561$1,244$986$697
21 years$2,268$1,813$1,436$1,129$882$611
22 years$2,142$1,692$1,324$1,027$791$536
23 years$2,027$1,582$1,222$935$710$471
24 years$1,922$1,483$1,130$853$638$414
25 years$1,825$1,391$1,047$779$574$364
26 years$1,736$1,308$971$712$517$321
27 years$1,654$1,231$902$652$466$282
28 years$1,578$1,160$838$597$421$249
29 years$1,507$1,094$780$548$380$220
30 years$1,441$1,033$727$503$343$194
31 years$1,380$977$677$462$310$171
32 years$1,322$924$632$424$281$151
33 years$1,268$875$590$390$254$134
34 years$1,217$829$551$359$230$118
35 years$1,169$787$515$330$208$104
36 years$1,124$747$482$304$189$92
37 years$1,082$709$451$280$171$82
38 years$1,042$674$423$258$155$72
39 years$1,004$641$396$238$141$64
40 years$968$610$371$220$128$57
41 years$934$580$348$203$116$50
42 years$901$553$326$187$105$44
43 years$871$527$306$173$95$39
44 years$841$502$288$160$87$35
45 years$813$479$270$147$79$31
46 years$787$457$254$136$71$27
47 years$761$436$238$126$65$24
48 years$737$416$224$116$59$21
49 years$714$397$210$107$53$19
50 years$691$380$198$99$49$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $708,000, adding $3,816 every year, while hoping to spend $21,113 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: 75/12/13 Blend
60$708,000$708,000$708,000$708,000
61$784,152$746,628$735,654$840,585
62$841,672$760,749$737,835$892,485
63$904,350$774,854$739,380$946,334
64$972,693$788,920$740,248$1,004,769
65$1,047,253$802,923$740,392$1,068,240
66$1,128,641$816,835$739,764$1,137,242
67$1,217,531$830,628$738,314$1,212,320
68$1,314,660$844,270$735,989$1,294,074
69$1,420,845$857,728$732,733$1,383,166
70$1,536,981$870,967$728,490$1,480,325
71$1,664,056$883,947$723,197$1,586,355
72$1,803,157$896,628$716,792$1,702,139
73$1,955,482$908,966$709,207$1,828,653
74$2,122,349$920,913$700,373$1,966,971
75$2,305,209$932,418$690,217$2,118,278
76$2,505,662$943,428$678,660$2,283,878
77$2,725,469$953,885$665,625$2,465,208
78$2,966,569$963,728$651,026$2,663,853
79$3,231,100$972,891$634,776$2,881,558
80$3,521,413$981,305$616,782$3,120,248
81$3,840,102$988,893$596,949$3,382,042
82$4,190,022$995,578$575,176$3,669,277
83$4,574,318$1,001,275$551,358$3,984,529
84$4,996,454$1,005,894$525,384$4,330,634
85$5,460,249$1,009,339$497,141$4,710,721
86$5,969,906$1,011,508$466,507$5,128,235
87$6,530,059$1,012,295$433,358$5,586,976
88$7,145,811$1,011,583$397,561$6,091,129
89$7,822,785$1,009,252$358,981$6,645,309
90$8,567,175$1,005,172$317,473$7,254,599
91$9,385,807$999,205$272,888$7,924,603
92$10,286,200$991,207$225,071$8,661,497
93$11,276,639$981,022$173,857$9,472,088
94$12,366,252$968,488$119,077$10,363,875
95$13,565,096$953,430$60,553$11,345,127
96$14,884,253$935,666$0$12,424,954
97$16,335,933$915,000$0$13,613,662
98$17,933,590$891,226$0$14,931,032
99$19,692,046$864,126$0$16,380,882
100$21,627,635$833,468$0$17,976,681