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%15.4%
1 years$59,127$58,600$58,086$57,585$57,095$55,828
2 years$29,271$28,725$28,197$27,685$27,188$25,918
3 years$19,320$18,772$18,245$17,738$17,249$16,016
4 years$14,346$13,800$13,278$12,779$12,302$11,116
5 years$11,362$10,819$10,304$9,816$9,352$8,215
6 years$9,373$8,835$8,327$7,850$7,400$6,314
7 years$7,953$7,419$6,920$6,454$6,018$4,983
8 years$6,889$6,360$5,869$5,414$4,993$4,008
9 years$6,061$5,537$5,055$4,611$4,204$3,270
10 years$5,400$4,881$4,407$3,975$3,582$2,696
11 years$4,859$4,345$3,880$3,459$3,081$2,243
12 years$4,408$3,900$3,443$3,034$2,670$1,878
13 years$4,028$3,524$3,076$2,679$2,328$1,581
14 years$3,701$3,204$2,764$2,378$2,041$1,337
15 years$3,419$2,927$2,496$2,121$1,797$1,135
16 years$3,172$2,685$2,263$1,899$1,588$967
17 years$2,955$2,473$2,059$1,706$1,408$825
18 years$2,761$2,285$1,879$1,538$1,252$706
19 years$2,589$2,118$1,721$1,389$1,116$605
20 years$2,433$1,968$1,579$1,258$997$520
21 years$2,293$1,833$1,452$1,142$892$447
22 years$2,166$1,711$1,339$1,038$800$384
23 years$2,050$1,600$1,236$946$718$331
24 years$1,944$1,499$1,143$862$645$286
25 years$1,846$1,407$1,059$788$581$246
26 years$1,756$1,322$982$720$523$213
27 years$1,673$1,245$912$659$471$184
28 years$1,596$1,173$848$604$425$159
29 years$1,524$1,106$789$554$384$137
30 years$1,457$1,045$735$508$347$119
31 years$1,395$988$685$467$314$103
32 years$1,337$935$639$429$284$89
33 years$1,282$885$597$395$257$77
34 years$1,231$839$558$363$233$66
35 years$1,183$796$521$334$211$58
36 years$1,137$755$488$308$191$50
37 years$1,094$717$456$284$173$43
38 years$1,054$682$427$261$157$37
39 years$1,015$648$400$241$142$32
40 years$979$617$375$222$129$28
41 years$944$587$352$205$117$24
42 years$912$559$330$189$106$21
43 years$880$533$310$175$96$18
44 years$851$508$291$161$87$16
45 years$822$484$273$149$79$14
46 years$795$462$256$138$72$12
47 years$770$441$241$127$65$10
48 years$745$421$226$117$59$9
49 years$722$402$213$109$54$8
50 years$699$384$200$100$49$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $716,000, adding $3,997 every year, while hoping to spend $28,989 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: 74/20/6 Blend
60$716,000$716,000$716,000$716,000
61$793,155$755,207$744,109$851,027
62$843,213$761,368$738,192$895,826
63$897,405$766,859$731,106$940,816
64$956,122$771,618$722,780$989,268
65$1,019,795$775,575$713,142$1,041,515
66$1,088,896$778,660$702,114$1,097,922
67$1,163,946$780,797$689,617$1,158,893
68$1,245,516$781,904$675,567$1,224,871
69$1,334,236$781,894$659,876$1,296,348
70$1,430,798$780,677$642,452$1,373,862
71$1,535,964$778,155$623,199$1,458,009
72$1,650,573$774,225$602,017$1,549,444
73$1,775,547$768,778$578,800$1,648,891
74$1,911,902$761,697$553,439$1,757,147
75$2,060,755$752,860$525,818$1,875,090
76$2,223,337$742,135$495,818$2,003,689
77$2,401,003$729,385$463,314$2,144,012
78$2,595,244$714,463$428,173$2,297,237
79$2,807,701$697,215$390,259$2,464,661
80$3,040,183$677,475$349,429$2,647,716
81$3,294,680$655,069$305,534$2,847,979
82$3,573,385$629,815$258,416$3,067,189
83$3,878,710$601,516$207,913$3,307,265
84$4,213,315$569,967$153,855$3,570,321
85$4,580,128$534,950$96,064$3,858,687
86$4,982,373$496,234$34,354$4,174,933
87$5,423,602$453,576$0$4,521,894
88$5,907,726$406,718$0$4,904,708
89$6,439,055$355,388$0$5,327,282
90$7,022,334$299,299$0$5,791,224
91$7,662,793$238,145$0$6,300,734
92$8,366,191$171,607$0$6,860,441
93$9,138,871$99,344$0$7,475,448
94$9,987,824$21,000$0$8,151,380
95$10,920,748$0$0$8,894,435
96$11,946,127$0$0$9,725,491
97$13,073,306$0$0$10,644,168
98$14,312,581$0$0$11,654,241
99$15,675,294$0$0$12,764,959
100$17,173,942$0$0$13,986,512