Can I retire at age 61 with 715,000?

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 $715,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$59,044$58,518$58,005$57,504$57,015$55,435
2 years$29,230$28,685$28,158$27,646$27,150$25,569
3 years$19,293$18,746$18,220$17,713$17,225$15,694
4 years$14,325$13,780$13,259$12,761$12,285$10,815
5 years$11,346$10,804$10,290$9,802$9,339$7,934
6 years$9,360$8,822$8,316$7,839$7,390$6,051
7 years$7,942$7,409$6,910$6,445$6,010$4,738
8 years$6,879$6,351$5,861$5,406$4,986$3,780
9 years$6,053$5,530$5,048$4,605$4,199$3,058
10 years$5,392$4,874$4,401$3,969$3,577$2,500
11 years$4,852$4,339$3,874$3,455$3,077$2,061
12 years$4,402$3,895$3,438$3,030$2,666$1,710
13 years$4,022$3,519$3,072$2,675$2,325$1,426
14 years$3,696$3,199$2,760$2,375$2,038$1,195
15 years$3,414$2,922$2,492$2,118$1,794$1,004
16 years$3,168$2,681$2,259$1,896$1,586$847
17 years$2,950$2,469$2,056$1,704$1,406$716
18 years$2,757$2,282$1,877$1,535$1,250$606
19 years$2,585$2,115$1,718$1,387$1,114$514
20 years$2,430$1,965$1,577$1,257$995$437
21 years$2,290$1,830$1,450$1,140$891$371
22 years$2,163$1,709$1,337$1,037$799$316
23 years$2,047$1,598$1,234$944$717$269
24 years$1,941$1,497$1,141$861$644$230
25 years$1,843$1,405$1,057$787$580$196
26 years$1,754$1,321$981$719$522$167
27 years$1,671$1,243$911$658$471$143
28 years$1,594$1,171$846$603$425$122
29 years$1,522$1,105$788$553$384$104
30 years$1,455$1,043$734$508$347$89
31 years$1,393$986$684$466$313$76
32 years$1,335$933$638$428$283$65
33 years$1,280$884$596$394$257$56
34 years$1,229$838$557$363$232$48
35 years$1,181$795$521$334$210$41
36 years$1,136$754$487$307$191$35
37 years$1,093$716$456$283$173$30
38 years$1,052$681$427$261$157$26
39 years$1,014$647$400$241$142$22
40 years$978$616$375$222$129$19
41 years$943$586$351$205$117$16
42 years$910$558$330$189$106$14
43 years$879$532$309$174$96$12
44 years$850$507$290$161$87$10
45 years$821$484$273$149$79$9
46 years$794$461$256$137$72$7
47 years$769$440$241$127$65$6
48 years$744$420$226$117$59$5
49 years$721$401$213$108$54$5
50 years$698$383$200$100$49$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $715,000, adding $2,273 every year, while hoping to spend $57,406 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: 34/40/26 Blend
60$715,000$715,000$715,000$715,000
61$790,275$752,380$741,297$810,845
62$809,803$728,167$705,051$802,257
63$829,399$700,843$665,667$787,673
64$849,010$670,196$622,978$770,816
65$868,574$636,001$576,813$751,521
66$888,021$598,018$526,989$729,615
67$907,275$555,996$473,318$704,912
68$926,245$509,668$415,603$677,213
69$944,832$458,752$353,636$646,308
70$962,926$402,951$287,203$611,973
71$980,398$341,950$216,079$573,967
72$997,110$275,417$140,028$532,036
73$1,012,903$203,000$58,807$485,907
74$1,027,600$124,328$0$435,290
75$1,041,004$39,009$0$387,607
76$1,052,897$0$0$352,708
77$1,063,032$0$0$337,478
78$1,071,138$0$0$338,600
79$1,076,910$0$0$338,786
80$1,080,012$0$0$337,910
81$1,080,067$0$0$335,828
82$1,076,659$0$0$332,382
83$1,069,326$0$0$327,398
84$1,057,555$0$0$320,680
85$1,040,777$0$0$312,013
86$1,018,361$0$0$301,159
87$989,609$0$0$287,853
88$953,746$0$0$271,804
89$909,916$0$0$252,687
90$857,169$0$0$230,144
91$794,458$0$0$203,781
92$720,621$0$0$173,158
93$634,374$0$0$137,792
94$534,298$0$0$97,149
95$418,823$0$0$50,637
96$286,216$0$0$0
97$134,559$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0