Can I retire at age 61 with 719,000?

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 $719,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$59,374$58,845$58,329$57,826$57,334$56,925
2 years$29,393$28,846$28,315$27,801$27,302$26,889
3 years$19,401$18,851$18,322$17,812$17,321$16,918
4 years$14,406$13,858$13,334$12,833$12,354$11,963
5 years$11,409$10,864$10,347$9,857$9,391$9,014
6 years$9,412$8,872$8,362$7,883$7,431$7,068
7 years$7,987$7,450$6,949$6,481$6,043$5,695
8 years$6,918$6,386$5,893$5,436$5,014$4,679
9 years$6,087$5,560$5,076$4,631$4,222$3,902
10 years$5,422$4,901$4,425$3,992$3,597$3,291
11 years$4,879$4,363$3,896$3,474$3,094$2,801
12 years$4,427$3,916$3,458$3,047$2,681$2,402
13 years$4,044$3,539$3,089$2,690$2,338$2,072
14 years$3,717$3,217$2,776$2,388$2,049$1,797
15 years$3,433$2,939$2,506$2,130$1,805$1,564
16 years$3,185$2,696$2,272$1,907$1,595$1,367
17 years$2,967$2,483$2,067$1,713$1,414$1,198
18 years$2,773$2,295$1,887$1,544$1,257$1,053
19 years$2,600$2,127$1,728$1,395$1,121$927
20 years$2,444$1,976$1,586$1,264$1,001$818
21 years$2,303$1,841$1,459$1,147$896$723
22 years$2,175$1,718$1,344$1,043$803$640
23 years$2,058$1,607$1,241$950$721$567
24 years$1,952$1,506$1,148$866$648$503
25 years$1,854$1,413$1,063$791$583$447
26 years$1,763$1,328$986$723$525$397
27 years$1,680$1,250$916$662$473$354
28 years$1,602$1,178$851$607$427$315
29 years$1,531$1,111$792$556$386$280
30 years$1,464$1,049$738$510$349$250
31 years$1,401$992$688$469$315$223
32 years$1,342$939$642$431$285$199
33 years$1,288$889$599$396$258$177
34 years$1,236$842$560$365$234$158
35 years$1,188$799$523$336$212$142
36 years$1,142$758$490$309$192$126
37 years$1,099$720$458$285$174$113
38 years$1,058$684$429$262$157$101
39 years$1,020$651$402$242$143$90
40 years$983$619$377$223$130$81
41 years$948$589$353$206$118$72
42 years$915$561$332$190$107$64
43 years$884$535$311$175$97$58
44 years$854$510$292$162$88$52
45 years$826$486$274$150$80$46
46 years$799$464$258$138$72$41
47 years$773$443$242$128$66$37
48 years$748$423$227$118$60$33
49 years$725$404$214$109$54$30
50 years$702$385$201$101$49$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $719,000, adding $4,958 every year, while hoping to spend $20,542 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: 57/23/20 Blend
60$719,000$719,000$719,000$719,000
61$797,452$759,345$748,201$838,383
62$856,936$774,697$751,409$882,166
63$921,798$790,112$754,036$927,224
64$992,566$805,572$756,041$975,875
65$1,069,821$821,057$757,381$1,028,470
66$1,154,199$836,546$758,010$1,085,396
67$1,246,404$852,014$757,880$1,147,078
68$1,347,211$867,436$756,943$1,213,987
69$1,457,470$882,784$755,144$1,286,640
70$1,578,121$898,029$752,430$1,365,608
71$1,710,196$913,139$748,743$1,451,519
72$1,854,832$928,079$744,022$1,545,069
73$2,013,282$942,812$738,204$1,647,021
74$2,186,925$957,298$731,222$1,758,220
75$2,377,282$971,496$723,008$1,879,594
76$2,586,024$985,359$713,488$2,012,169
77$2,814,995$998,838$702,587$2,157,074
78$3,066,225$1,011,882$690,224$2,315,557
79$3,341,950$1,024,433$676,316$2,488,990
80$3,644,632$1,036,434$660,776$2,678,889
81$3,976,984$1,047,819$643,512$2,886,923
82$4,341,995$1,058,521$624,429$3,114,933
83$4,742,958$1,068,467$603,426$3,364,949
84$5,183,497$1,077,580$580,399$3,639,209
85$5,667,610$1,085,778$555,238$3,940,181
86$6,199,697$1,092,972$527,829$4,270,583
87$6,784,608$1,099,069$498,053$4,633,416
88$7,427,685$1,103,970$465,785$5,031,985
89$8,134,814$1,107,570$430,894$5,469,934
90$8,912,479$1,109,755$393,243$5,951,283
91$9,767,825$1,110,406$352,690$6,480,460
92$10,708,724$1,109,397$309,086$7,062,348
93$11,743,850$1,106,593$262,276$7,702,333
94$12,882,757$1,101,851$212,097$8,406,347
95$14,135,976$1,095,019$158,379$9,180,933
96$15,515,106$1,085,936$100,946$10,033,303
97$17,032,932$1,074,432$39,613$10,971,408
98$18,703,538$1,060,326$0$12,004,010
99$20,542,443$1,043,426$0$13,146,285
100$22,566,747$1,023,528$0$14,412,748