Can I retire at age 61 with 716,000?

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 $716,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13%
1 years$59,127$58,600$58,086$57,585$57,095$56,381
2 years$29,271$28,725$28,197$27,685$27,188$26,470
3 years$19,320$18,772$18,245$17,738$17,249$16,549
4 years$14,346$13,800$13,278$12,779$12,302$11,626
5 years$11,362$10,819$10,304$9,816$9,352$8,700
6 years$9,373$8,835$8,327$7,850$7,400$6,774
7 years$7,953$7,419$6,920$6,454$6,018$5,419
8 years$6,889$6,360$5,869$5,414$4,993$4,420
9 years$6,061$5,537$5,055$4,611$4,204$3,657
10 years$5,400$4,881$4,407$3,975$3,582$3,061
11 years$4,859$4,345$3,880$3,459$3,081$2,585
12 years$4,408$3,900$3,443$3,034$2,670$2,198
13 years$4,028$3,524$3,076$2,679$2,328$1,880
14 years$3,701$3,204$2,764$2,378$2,041$1,616
15 years$3,419$2,927$2,496$2,121$1,797$1,395
16 years$3,172$2,685$2,263$1,899$1,588$1,208
17 years$2,955$2,473$2,059$1,706$1,408$1,049
18 years$2,761$2,285$1,879$1,538$1,252$913
19 years$2,589$2,118$1,721$1,389$1,116$797
20 years$2,433$1,968$1,579$1,258$997$697
21 years$2,293$1,833$1,452$1,142$892$610
22 years$2,166$1,711$1,339$1,038$800$534
23 years$2,050$1,600$1,236$946$718$469
24 years$1,944$1,499$1,143$862$645$412
25 years$1,846$1,407$1,059$788$581$362
26 years$1,756$1,322$982$720$523$319
27 years$1,673$1,245$912$659$471$281
28 years$1,596$1,173$848$604$425$247
29 years$1,524$1,106$789$554$384$218
30 years$1,457$1,045$735$508$347$192
31 years$1,395$988$685$467$314$170
32 years$1,337$935$639$429$284$150
33 years$1,282$885$597$395$257$132
34 years$1,231$839$558$363$233$117
35 years$1,183$796$521$334$211$103
36 years$1,137$755$488$308$191$91
37 years$1,094$717$456$284$173$81
38 years$1,054$682$427$261$157$71
39 years$1,015$648$400$241$142$63
40 years$979$617$375$222$129$56
41 years$944$587$352$205$117$49
42 years$912$559$330$189$106$43
43 years$880$533$310$175$96$38
44 years$851$508$291$161$87$34
45 years$822$484$273$149$79$30
46 years$795$462$256$138$72$27
47 years$770$441$241$127$65$24
48 years$745$421$226$117$59$21
49 years$722$402$213$109$54$18
50 years$699$384$200$100$49$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $716,000, adding $6,831 every year, while hoping to spend $42,875 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: 38/38/24 Blend
60$716,000$716,000$716,000$716,000
61$796,078$758,130$747,032$820,404
62$831,659$749,660$726,439$830,265
63$869,433$739,338$703,719$836,427
64$909,577$727,027$678,756$842,236
65$952,287$712,585$651,427$847,686
66$997,777$695,857$621,606$852,773
67$1,046,279$676,684$589,159$857,500
68$1,098,051$654,892$553,947$861,869
69$1,153,372$630,302$515,825$865,891
70$1,212,551$602,722$474,640$869,580
71$1,275,925$571,949$430,234$872,957
72$1,343,863$537,768$382,440$876,051
73$1,416,771$499,953$331,086$878,898
74$1,495,095$458,263$275,990$881,545
75$1,579,322$412,446$216,964$884,048
76$1,669,991$362,233$153,810$886,477
77$1,767,689$307,342$86,321$888,913
78$1,873,064$247,473$14,284$891,457
79$1,986,827$182,310$0$894,223
80$2,109,759$111,519$0$913,377
81$2,242,720$34,748$0$937,995
82$2,386,651$0$0$964,660
83$2,542,592$0$0$1,013,879
84$2,711,683$0$0$1,083,085
85$2,895,178$0$0$1,158,273
86$3,094,456$0$0$1,240,018
87$3,311,037$0$0$1,328,955
88$3,546,588$0$0$1,425,781
89$3,802,947$0$0$1,531,263
90$4,082,134$0$0$1,646,246
91$4,386,375$0$0$1,771,660
92$4,718,115$0$0$1,908,526
93$5,080,050$0$0$2,057,972
94$5,475,143$0$0$2,221,237
95$5,906,659$0$0$2,399,685
96$6,378,191$0$0$2,594,820
97$6,893,695$0$0$2,808,294
98$7,457,525$0$0$3,041,931
99$8,074,476$0$0$3,297,734
100$8,749,830$0$0$3,577,914