Can I retire at age 61 with 712,000?

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 $712,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$58,796$58,273$57,762$57,263$56,776$55,974
2 years$29,107$28,565$28,040$27,530$27,036$26,229
3 years$19,212$18,668$18,143$17,639$17,153$16,367
4 years$14,265$13,723$13,204$12,708$12,234$11,474
5 years$11,298$10,759$10,247$9,761$9,300$8,569
6 years$9,321$8,785$8,281$7,806$7,359$6,658
7 years$7,909$7,378$6,881$6,418$5,984$5,314
8 years$6,850$6,324$5,836$5,384$4,965$4,324
9 years$6,028$5,506$5,027$4,586$4,181$3,570
10 years$5,370$4,854$4,382$3,953$3,562$2,980
11 years$4,832$4,321$3,858$3,440$3,064$2,510
12 years$4,384$3,878$3,424$3,017$2,655$2,129
13 years$4,005$3,505$3,059$2,664$2,315$1,817
14 years$3,681$3,186$2,749$2,365$2,030$1,558
15 years$3,400$2,910$2,482$2,109$1,787$1,341
16 years$3,154$2,670$2,250$1,888$1,579$1,158
17 years$2,938$2,459$2,047$1,697$1,400$1,003
18 years$2,746$2,272$1,869$1,529$1,245$870
19 years$2,574$2,106$1,711$1,382$1,110$757
20 years$2,420$1,957$1,570$1,251$991$660
21 years$2,280$1,823$1,444$1,136$887$576
22 years$2,154$1,701$1,331$1,033$795$503
23 years$2,038$1,591$1,229$940$714$440
24 years$1,933$1,491$1,137$858$642$386
25 years$1,836$1,399$1,053$783$577$338
26 years$1,746$1,315$976$716$520$296
27 years$1,664$1,238$907$656$469$260
28 years$1,587$1,166$843$601$423$229
29 years$1,516$1,100$784$551$382$201
30 years$1,449$1,039$731$505$345$177
31 years$1,387$982$681$464$312$155
32 years$1,329$929$636$427$282$137
33 years$1,275$880$593$392$255$120
34 years$1,224$834$554$361$231$106
35 years$1,176$791$518$332$209$93
36 years$1,131$751$485$306$190$82
37 years$1,088$713$454$282$172$72
38 years$1,048$678$425$260$156$64
39 years$1,010$645$398$240$141$56
40 years$973$613$373$221$128$49
41 years$939$584$350$204$116$43
42 years$906$556$328$188$106$38
43 years$875$530$308$174$96$34
44 years$846$505$289$160$87$30
45 years$818$481$272$148$79$26
46 years$791$459$255$137$72$23
47 years$765$438$240$126$65$20
48 years$741$418$225$117$59$18
49 years$718$400$212$108$54$16
50 years$695$382$199$100$49$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $712,000, adding $4,430 every year, while hoping to spend $21,949 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: 58/24/18 Blend
60$712,000$712,000$712,000$712,000
61$789,194$751,458$740,422$830,997
62$846,338$764,925$741,872$873,330
63$908,575$778,318$742,636$916,680
64$976,402$791,607$742,666$963,442
65$1,050,364$804,765$741,914$1,013,949
66$1,131,063$817,761$740,331$1,068,568
67$1,219,160$830,560$737,861$1,127,703
68$1,315,385$843,127$734,449$1,191,801
69$1,420,538$855,425$730,037$1,261,354
70$1,535,503$867,410$724,563$1,336,905
71$1,661,251$879,041$717,963$1,419,051
72$1,798,854$890,268$710,170$1,508,453
73$1,949,488$901,043$701,112$1,605,837
74$2,114,453$911,311$690,716$1,712,007
75$2,295,177$921,015$678,905$1,827,846
76$2,493,233$930,093$665,597$1,954,330
77$2,710,356$938,481$650,707$2,092,536
78$2,948,454$946,108$634,147$2,243,648
79$3,209,629$952,900$615,824$2,408,975
80$3,496,199$958,779$595,642$2,589,960
81$3,810,712$963,661$573,497$2,788,193
82$4,155,980$967,455$549,284$3,005,428
83$4,535,097$970,068$522,892$3,243,598
84$4,951,474$971,398$494,206$3,504,835
85$5,408,865$971,337$463,103$3,791,492
86$5,911,409$969,772$429,456$4,106,160
87$6,463,663$966,582$393,134$4,451,699
88$7,070,651$961,639$353,998$4,831,259
89$7,737,903$954,805$311,903$5,248,315
90$8,471,516$945,937$266,698$5,706,700
91$9,278,204$934,881$218,226$6,210,637
92$10,165,366$921,476$166,322$6,764,784
93$11,141,154$905,548$110,814$7,374,275
94$12,214,547$886,916$51,522$8,044,773
95$13,395,443$865,386$0$8,782,517
96$14,694,742$840,754$0$9,596,647
97$16,124,458$812,804$0$10,503,197
98$17,697,827$781,305$0$11,500,664
99$19,429,433$746,017$0$12,598,308
100$21,335,345$706,682$0$13,806,335