Can I retire at age 61 with 709,000?

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 $709,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.6%
1 years$58,549$58,027$57,518$57,022$56,537$54,574
2 years$28,984$28,445$27,921$27,414$26,922$24,965
3 years$19,131$18,589$18,067$17,565$17,081$15,191
4 years$14,205$13,665$13,148$12,654$12,182$10,374
5 years$11,251$10,713$10,204$9,720$9,261$7,539
6 years$9,281$8,748$8,246$7,773$7,328$5,693
7 years$7,875$7,347$6,852$6,391$5,959$4,412
8 years$6,821$6,298$5,811$5,361$4,944$3,483
9 years$6,002$5,483$5,005$4,566$4,163$2,787
10 years$5,347$4,833$4,364$3,936$3,547$2,253
11 years$4,811$4,303$3,842$3,426$3,051$1,835
12 years$4,365$3,862$3,410$3,005$2,644$1,505
13 years$3,988$3,490$3,046$2,653$2,305$1,240
14 years$3,665$3,172$2,737$2,355$2,021$1,026
15 years$3,386$2,898$2,471$2,100$1,779$852
16 years$3,141$2,659$2,240$1,880$1,573$709
17 years$2,926$2,449$2,039$1,690$1,394$591
18 years$2,734$2,263$1,861$1,523$1,240$494
19 years$2,563$2,097$1,704$1,376$1,105$413
20 years$2,410$1,949$1,564$1,246$987$346
21 years$2,271$1,815$1,438$1,131$883$290
22 years$2,145$1,694$1,326$1,028$792$244
23 years$2,030$1,585$1,224$936$711$205
24 years$1,925$1,485$1,132$854$639$172
25 years$1,828$1,393$1,048$780$575$145
26 years$1,739$1,310$972$713$518$122
27 years$1,657$1,232$903$653$467$102
28 years$1,580$1,161$839$598$421$86
29 years$1,509$1,096$781$548$380$73
30 years$1,443$1,035$728$503$344$61
31 years$1,382$978$678$462$311$52
32 years$1,324$925$633$425$281$43
33 years$1,270$876$591$391$254$37
34 years$1,219$831$552$359$230$31
35 years$1,171$788$516$331$209$26
36 years$1,126$748$483$305$189$22
37 years$1,084$710$452$281$171$18
38 years$1,043$675$423$259$155$16
39 years$1,005$642$397$239$141$13
40 years$969$611$372$220$128$11
41 years$935$581$348$203$116$9
42 years$903$554$327$187$105$8
43 years$872$527$307$173$95$7
44 years$842$503$288$160$87$6
45 years$814$479$270$148$79$5
46 years$788$457$254$136$71$4
47 years$762$436$239$126$65$3
48 years$738$417$224$116$59$3
49 years$715$398$211$108$53$2
50 years$692$380$198$99$49$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $709,000, adding $4,492 every year, while hoping to spend $56,721 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: 44/27/29 Blend
60$709,000$709,000$709,000$709,000
61$785,951$748,374$737,385$813,745
62$805,768$724,694$701,737$810,370
63$825,704$697,952$662,993$800,980
64$845,714$667,939$620,991$789,726
65$865,741$634,433$575,559$776,467
66$885,725$597,198$526,518$761,054
67$905,595$555,987$473,682$743,327
68$925,272$510,537$416,857$723,114
69$944,666$460,569$355,838$700,232
70$963,676$405,792$290,413$674,486
71$982,189$345,893$220,359$645,667
72$1,000,077$280,547$145,446$613,550
73$1,017,197$209,406$65,431$577,897
74$1,033,389$132,105$0$538,449
75$1,048,475$48,259$0$501,109
76$1,062,255$0$0$481,413
77$1,074,506$0$0$471,504
78$1,084,979$0$0$475,022
79$1,093,398$0$0$477,496
80$1,099,454$0$0$478,774
81$1,102,806$0$0$478,688
82$1,103,074$0$0$477,052
83$1,099,833$0$0$473,660
84$1,092,616$0$0$468,282
85$1,080,901$0$0$460,664
86$1,064,112$0$0$450,525
87$1,041,609$0$0$437,552
88$1,012,682$0$0$421,400
89$976,547$0$0$401,686
90$932,334$0$0$377,985
91$879,082$0$0$349,831
92$815,724$0$0$316,703
93$741,084$0$0$278,028
94$653,858$0$0$233,173
95$552,607$0$0$181,436
96$435,737$0$0$122,043
97$301,490$0$0$54,139
98$147,921$0$0$0
99$0$0$0$0
100$0$0$0$0