Can I retire at age 61 with 720,000?

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 $720,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11%
1 years$59,457$58,927$58,411$57,906$57,414$57,172
2 years$29,434$28,886$28,355$27,840$27,340$27,096
3 years$19,428$18,877$18,347$17,837$17,346$17,107
4 years$14,426$13,877$13,352$12,851$12,371$12,139
5 years$11,425$10,880$10,362$9,870$9,404$9,180
6 years$9,425$8,884$8,374$7,894$7,441$7,225
7 years$7,998$7,461$6,959$6,490$6,052$5,844
8 years$6,927$6,395$5,902$5,444$5,020$4,821
9 years$6,095$5,568$5,083$4,637$4,228$4,036
10 years$5,430$4,908$4,431$3,997$3,602$3,419
11 years$4,886$4,369$3,901$3,479$3,098$2,923
12 years$4,433$3,922$3,462$3,051$2,685$2,517
13 years$4,050$3,544$3,093$2,694$2,341$2,181
14 years$3,722$3,221$2,779$2,391$2,052$1,900
15 years$3,438$2,943$2,509$2,133$1,807$1,662
16 years$3,190$2,700$2,275$1,910$1,597$1,459
17 years$2,971$2,487$2,070$1,716$1,416$1,285
18 years$2,777$2,298$1,890$1,546$1,259$1,134
19 years$2,603$2,130$1,730$1,397$1,122$1,004
20 years$2,447$1,979$1,588$1,265$1,002$890
21 years$2,306$1,843$1,461$1,148$897$791
22 years$2,178$1,721$1,346$1,044$804$704
23 years$2,061$1,609$1,243$951$722$627
24 years$1,954$1,508$1,149$867$649$560
25 years$1,856$1,415$1,065$792$584$500
26 years$1,766$1,330$987$724$526$447
27 years$1,682$1,252$917$663$474$400
28 years$1,605$1,179$852$607$428$358
29 years$1,533$1,113$793$557$386$320
30 years$1,466$1,051$739$511$349$287
31 years$1,403$993$689$469$316$258
32 years$1,344$940$643$431$285$231
33 years$1,289$890$600$397$258$207
34 years$1,238$844$561$365$234$186
35 years$1,189$800$524$336$212$167
36 years$1,144$759$490$309$192$150
37 years$1,100$721$459$285$174$135
38 years$1,060$685$430$263$158$122
39 years$1,021$652$403$242$143$109
40 years$984$620$377$224$130$98
41 years$950$590$354$206$118$88
42 years$917$562$332$190$107$80
43 years$885$536$312$176$97$72
44 years$855$511$292$162$88$64
45 years$827$487$275$150$80$58
46 years$800$464$258$138$73$52
47 years$774$443$242$128$66$47
48 years$749$423$228$118$60$42
49 years$726$404$214$109$54$38
50 years$703$386$201$101$49$34

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $720,000, adding $5,966 every year, while hoping to spend $36,689 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: 67/8/25 Blend
60$720,000$720,000$720,000$720,000
61$799,594$761,434$750,274$847,628
62$842,116$759,707$736,371$878,930
63$887,745$756,667$720,773$908,434
64$936,760$752,208$703,384$939,859
65$989,466$746,223$684,104$973,396
66$1,046,199$738,596$662,829$1,009,256
67$1,107,327$729,202$639,449$1,047,672
68$1,173,253$717,912$613,850$1,088,902
69$1,244,423$704,588$585,912$1,133,232
70$1,321,325$689,083$555,510$1,180,979
71$1,404,494$671,242$522,514$1,232,491
72$1,494,521$650,902$486,787$1,288,154
73$1,592,054$627,888$448,186$1,348,398
74$1,697,806$602,017$406,563$1,413,692
75$1,812,561$573,094$361,761$1,484,561
76$1,937,180$540,914$313,618$1,561,581
77$2,072,612$505,258$261,964$1,645,391
78$2,219,900$465,897$206,622$1,736,695
79$2,380,192$422,588$147,405$1,836,274
80$2,554,750$375,074$84,122$1,944,987
81$2,744,964$323,082$16,570$2,063,786
82$2,952,364$266,326$0$2,193,721
83$3,178,631$204,502$0$2,350,765
84$3,425,620$137,291$0$2,527,066
85$3,695,368$64,354$0$2,719,679
86$3,990,121$0$0$2,930,230
87$4,312,351$0$0$3,161,802
88$4,664,778$0$0$3,421,315
89$5,050,398$0$0$3,705,313
90$5,472,511$0$0$4,016,232
91$5,934,749$0$0$4,356,754
92$6,441,113$0$0$4,729,832
93$6,996,008$0$0$5,138,717
94$7,604,285$0$0$5,586,991
95$8,271,290$0$0$6,078,600
96$9,002,908$0$0$6,617,887
97$9,805,620$0$0$7,209,638
98$10,686,569$0$0$7,859,125
99$11,653,618$0$0$8,572,153
100$12,715,433$0$0$9,355,120