Can I retire at age 61 with 714,000?

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 $714,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.2%
1 years$58,961$58,436$57,924$57,424$56,935$55,268
2 years$29,189$28,645$28,118$27,608$27,112$25,446
3 years$19,266$18,720$18,194$17,688$17,201$15,588
4 years$14,305$13,761$13,241$12,744$12,268$10,720
5 years$11,330$10,789$10,275$9,788$9,326$7,848
6 years$9,347$8,810$8,304$7,828$7,379$5,973
7 years$7,931$7,399$6,901$6,436$6,001$4,666
8 years$6,870$6,342$5,852$5,399$4,979$3,714
9 years$6,044$5,522$5,041$4,598$4,193$2,997
10 years$5,385$4,867$4,395$3,964$3,572$2,444
11 years$4,845$4,333$3,869$3,450$3,072$2,009
12 years$4,396$3,889$3,434$3,026$2,662$1,663
13 years$4,016$3,515$3,068$2,671$2,322$1,383
14 years$3,691$3,195$2,756$2,371$2,035$1,156
15 years$3,409$2,918$2,489$2,115$1,792$969
16 years$3,163$2,678$2,256$1,894$1,584$814
17 years$2,946$2,466$2,053$1,701$1,404$686
18 years$2,754$2,279$1,874$1,533$1,249$579
19 years$2,581$2,112$1,716$1,385$1,113$490
20 years$2,427$1,962$1,575$1,255$994$415
21 years$2,287$1,828$1,448$1,139$890$352
22 years$2,160$1,706$1,335$1,035$797$299
23 years$2,044$1,596$1,233$943$716$254
24 years$1,938$1,495$1,140$860$643$216
25 years$1,841$1,403$1,056$785$579$183
26 years$1,751$1,319$979$718$521$156
27 years$1,668$1,241$909$657$470$133
28 years$1,591$1,169$845$602$424$113
29 years$1,520$1,103$787$552$383$96
30 years$1,453$1,042$733$507$346$82
31 years$1,391$985$683$466$313$70
32 years$1,333$932$637$428$283$60
33 years$1,279$883$595$393$256$51
34 years$1,227$837$556$362$232$43
35 years$1,179$793$520$333$210$37
36 years$1,134$753$486$307$190$31
37 years$1,091$715$455$283$173$27
38 years$1,051$680$426$261$156$23
39 years$1,012$646$399$240$142$20
40 years$976$615$374$222$129$17
41 years$942$585$351$205$117$14
42 years$909$557$329$189$106$12
43 years$878$531$309$174$96$10
44 years$848$506$290$161$87$9
45 years$820$483$272$149$79$8
46 years$793$461$256$137$72$6
47 years$768$440$240$127$65$5
48 years$743$420$226$117$59$5
49 years$720$401$212$108$54$4
50 years$697$383$200$100$49$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $714,000, adding $5,298 every year, while hoping to spend $39,642 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: 47/42/11 Blend
60$714,000$714,000$714,000$714,000
61$792,293$754,451$743,384$826,873
62$830,928$749,240$726,108$846,064
63$872,175$742,446$706,926$862,349
64$916,259$733,947$685,730$879,127
65$963,426$723,619$662,410$896,458
66$1,013,946$711,327$636,851$914,408
67$1,068,114$696,928$608,932$933,055
68$1,126,257$680,272$578,526$952,486
69$1,188,729$661,200$545,501$972,801
70$1,255,923$639,542$509,718$994,113
71$1,328,268$615,121$471,035$1,016,549
72$1,406,236$587,746$429,299$1,040,252
73$1,490,344$557,218$384,353$1,065,387
74$1,581,163$523,325$336,032$1,092,135
75$1,679,318$485,844$284,165$1,120,702
76$1,785,496$444,538$228,573$1,151,321
77$1,900,453$399,157$169,066$1,184,251
78$2,025,020$349,437$105,451$1,219,784
79$2,160,111$295,098$37,523$1,258,248
80$2,306,730$235,846$0$1,300,008
81$2,465,982$171,368$0$1,349,578
82$2,639,083$101,335$0$1,408,280
83$2,827,370$25,401$0$1,472,243
84$3,032,313$0$0$1,542,069
85$3,255,532$0$0$1,644,676
86$3,498,808$0$0$1,769,371
87$3,764,102$0$0$1,905,429
88$4,053,570$0$0$2,053,966
89$4,369,588$0$0$2,216,210
90$4,714,771$0$0$2,393,514
91$5,091,996$0$0$2,587,368
92$5,504,432$0$0$2,799,410
93$5,955,567$0$0$3,031,447
94$6,449,244$0$0$3,285,467
95$6,989,691$0$0$3,563,658
96$7,581,566$0$0$3,868,432
97$8,229,999$0$0$4,202,443
98$8,940,638$0$0$4,568,615
99$9,719,704$0$0$4,970,168
100$10,574,050$0$0$5,410,650