Can I retire at age 61 with 718,000?

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 $718,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$59,292$58,764$58,248$57,745$57,254$56,751
2 years$29,352$28,806$28,276$27,762$27,264$26,757
3 years$19,374$18,825$18,296$17,788$17,297$16,802
4 years$14,386$13,838$13,315$12,815$12,337$11,857
5 years$11,393$10,849$10,333$9,843$9,378$8,915
6 years$9,399$8,859$8,351$7,872$7,421$6,976
7 years$7,975$7,440$6,939$6,472$6,035$5,608
8 years$6,908$6,377$5,885$5,429$5,007$4,597
9 years$6,078$5,553$5,069$4,624$4,216$3,825
10 years$5,415$4,894$4,419$3,986$3,592$3,218
11 years$4,872$4,357$3,891$3,469$3,090$2,733
12 years$4,421$3,911$3,453$3,043$2,677$2,337
13 years$4,039$3,534$3,085$2,686$2,335$2,011
14 years$3,712$3,213$2,772$2,385$2,047$1,739
15 years$3,429$2,935$2,503$2,127$1,802$1,510
16 years$3,181$2,693$2,269$1,904$1,593$1,316
17 years$2,963$2,480$2,065$1,711$1,412$1,150
18 years$2,769$2,291$1,885$1,542$1,256$1,008
19 years$2,596$2,124$1,725$1,393$1,119$885
20 years$2,440$1,973$1,583$1,262$1,000$779
21 years$2,300$1,838$1,456$1,145$895$686
22 years$2,172$1,716$1,342$1,041$802$606
23 years$2,056$1,605$1,239$948$720$535
24 years$1,949$1,504$1,146$865$647$473
25 years$1,851$1,411$1,062$790$582$419
26 years$1,761$1,326$985$722$524$371
27 years$1,678$1,248$914$661$473$329
28 years$1,600$1,176$850$606$427$292
29 years$1,528$1,109$791$555$385$260
30 years$1,462$1,048$737$510$348$231
31 years$1,399$990$687$468$315$205
32 years$1,341$937$641$430$285$182
33 years$1,286$888$598$396$258$162
34 years$1,234$841$559$364$233$144
35 years$1,186$798$523$335$211$128
36 years$1,140$757$489$309$191$114
37 years$1,097$719$458$284$173$102
38 years$1,057$684$429$262$157$91
39 years$1,018$650$402$242$143$81
40 years$982$618$376$223$129$72
41 years$947$589$353$206$117$64
42 years$914$561$331$190$106$57
43 years$883$534$311$175$97$51
44 years$853$509$292$162$88$45
45 years$825$486$274$149$80$40
46 years$798$463$257$138$72$36
47 years$772$442$242$128$66$32
48 years$747$422$227$118$60$29
49 years$724$403$213$109$54$26
50 years$701$385$201$101$49$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $718,000, adding $3,887 every year, while hoping to spend $32,689 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: 57/18/25 Blend
60$718,000$718,000$718,000$718,000
61$795,245$757,191$746,062$834,960
62$841,580$759,513$736,275$864,896
63$891,544$760,853$725,063$893,720
64$945,475$761,128$712,347$924,447
65$1,003,742$760,251$698,038$957,272
66$1,066,748$758,129$682,047$992,408
67$1,134,942$754,662$664,281$1,030,091
68$1,208,812$749,746$644,640$1,070,585
69$1,288,896$743,269$623,022$1,114,180
70$1,375,788$735,114$599,318$1,161,199
71$1,470,139$725,156$573,415$1,211,997
72$1,572,666$713,260$545,197$1,266,970
73$1,684,156$699,289$514,539$1,326,555
74$1,805,477$683,091$481,314$1,391,235
75$1,937,584$664,510$445,385$1,461,544
76$2,081,525$643,379$406,614$1,538,076
77$2,238,458$619,521$364,852$1,621,484
78$2,409,652$592,750$319,947$1,712,492
79$2,596,510$562,867$271,738$1,811,902
80$2,800,570$529,664$220,057$1,920,598
81$3,023,530$492,920$164,731$2,039,559
82$3,267,257$452,400$105,576$2,169,867
83$3,533,806$407,857$42,402$2,312,718
84$3,825,443$359,030$0$2,469,433
85$4,144,659$305,643$0$2,648,145
86$4,494,199$247,404$0$2,856,299
87$4,877,085$184,005$0$3,084,413
88$5,296,647$115,121$0$3,334,514
89$5,756,551$40,408$0$3,608,842
90$6,260,834$0$0$3,909,862
91$6,813,942$0$0$4,248,317
92$7,420,775$0$0$4,628,491
93$8,086,727$0$0$5,045,769
94$8,817,740$0$0$5,503,882
95$9,620,360$0$0$6,006,941
96$10,501,800$0$0$6,559,475
97$11,470,001$0$0$7,166,471
98$12,533,714$0$0$7,833,426
99$13,702,581$0$0$8,566,393
100$14,987,220$0$0$9,372,043