Can I retire at age 61 with 717,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $717,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.6%
1 years$59,209$58,682$58,167$57,665$57,175$55,190
2 years$29,311$28,766$28,237$27,724$27,226$25,247
3 years$19,347$18,799$18,271$17,763$17,273$15,362
4 years$14,366$13,819$13,297$12,797$12,319$10,491
5 years$11,378$10,834$10,319$9,829$9,365$7,624
6 years$9,386$8,847$8,339$7,861$7,410$5,757
7 years$7,964$7,430$6,930$6,463$6,027$4,462
8 years$6,898$6,369$5,877$5,421$5,000$3,522
9 years$6,070$5,545$5,062$4,618$4,210$2,818
10 years$5,407$4,888$4,413$3,981$3,587$2,278
11 years$4,866$4,351$3,885$3,464$3,085$1,856
12 years$4,415$3,905$3,448$3,039$2,674$1,522
13 years$4,033$3,529$3,081$2,683$2,331$1,254
14 years$3,707$3,208$2,768$2,381$2,044$1,038
15 years$3,424$2,931$2,499$2,124$1,800$861
16 years$3,177$2,689$2,266$1,902$1,590$717
17 years$2,959$2,476$2,062$1,709$1,410$598
18 years$2,765$2,288$1,882$1,540$1,254$499
19 years$2,592$2,121$1,723$1,391$1,118$418
20 years$2,437$1,971$1,581$1,260$998$350
21 years$2,296$1,836$1,454$1,144$893$294
22 years$2,169$1,713$1,340$1,040$801$246
23 years$2,053$1,603$1,238$947$719$207
24 years$1,946$1,501$1,145$864$646$174
25 years$1,849$1,409$1,060$789$581$146
26 years$1,758$1,324$983$721$524$123
27 years$1,675$1,246$913$660$472$104
28 years$1,598$1,174$849$605$426$87
29 years$1,526$1,108$790$555$385$73
30 years$1,460$1,046$736$509$348$62
31 years$1,397$989$686$468$314$52
32 years$1,339$936$640$430$284$44
33 years$1,284$886$598$395$257$37
34 years$1,233$840$558$364$233$31
35 years$1,184$797$522$335$211$26
36 years$1,139$756$488$308$191$22
37 years$1,096$718$457$284$173$19
38 years$1,055$683$428$262$157$16
39 years$1,017$649$401$241$142$13
40 years$980$618$376$223$129$11
41 years$946$588$352$205$117$9
42 years$913$560$331$190$106$8
43 years$882$533$310$175$97$7
44 years$852$508$291$162$88$6
45 years$824$485$273$149$80$5
46 years$797$463$257$138$72$4
47 years$771$441$241$127$66$3
48 years$746$421$227$118$60$3
49 years$723$402$213$109$54$2
50 years$700$384$200$101$49$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $717,000, adding $2,418 every year, while hoping to spend $26,153 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: 33/49/18 Blend
60$717,000$717,000$717,000$717,000
61$792,628$754,627$743,514$814,290
62$845,650$763,777$740,595$839,664
63$903,203$772,499$736,702$864,408
64$965,722$780,744$731,774$890,523
65$1,033,686$788,461$725,748$918,143
66$1,107,620$795,594$718,559$947,420
67$1,188,103$802,084$710,136$978,521
68$1,275,772$807,868$700,408$1,011,631
69$1,371,327$812,880$689,298$1,046,958
70$1,475,540$817,048$676,727$1,084,729
71$1,589,259$820,298$662,611$1,125,200
72$1,713,418$822,547$646,864$1,168,652
73$1,849,047$823,712$629,394$1,215,400
74$1,997,276$823,701$610,106$1,265,790
75$2,159,354$822,418$588,900$1,320,207
76$2,336,652$819,760$565,671$1,379,079
77$2,530,680$815,618$540,312$1,442,880
78$2,743,104$809,878$512,707$1,512,133
79$2,975,756$802,417$482,737$1,587,420
80$3,230,653$793,105$450,279$1,669,386
81$3,510,017$781,805$415,201$1,758,744
82$3,816,297$768,371$377,368$1,856,283
83$4,152,187$752,650$336,638$1,962,878
84$4,520,657$734,476$292,862$2,079,498
85$4,924,976$713,678$245,885$2,207,214
86$5,368,748$690,072$195,546$2,347,211
87$5,855,938$663,464$141,675$2,500,803
88$6,390,920$633,649$84,097$2,669,439
89$6,978,505$600,410$22,626$2,854,724
90$7,624,000$563,517$0$3,058,435
91$8,333,246$522,728$0$3,290,788
92$9,112,681$477,785$0$3,550,873
93$9,969,395$428,417$0$3,836,778
94$10,911,202$374,338$0$4,151,198
95$11,946,708$315,245$0$4,497,106
96$13,085,397$250,816$0$4,877,786
97$14,337,716$180,714$0$5,296,864
98$15,715,176$104,582$0$5,758,341
99$17,230,460$22,043$0$6,266,635
100$18,897,541$0$0$6,826,624