Can I retire at age 61 with 721,000?

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 $721,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19%
1 years$59,540$59,009$58,492$57,987$57,494$55,410
2 years$29,475$28,926$28,394$27,878$27,378$25,301
3 years$19,455$18,903$18,373$17,862$17,370$15,366
4 years$14,446$13,896$13,371$12,868$12,388$10,472
5 years$11,441$10,895$10,376$9,884$9,417$7,594
6 years$9,439$8,896$8,386$7,904$7,452$5,722
7 years$8,009$7,471$6,968$6,499$6,060$4,425
8 years$6,937$6,404$5,910$5,452$5,027$3,484
9 years$6,104$5,576$5,090$4,644$4,234$2,781
10 years$5,438$4,915$4,438$4,003$3,607$2,242
11 years$4,893$4,375$3,907$3,484$3,103$1,822
12 years$4,439$3,927$3,467$3,056$2,689$1,490
13 years$4,056$3,549$3,098$2,698$2,345$1,225
14 years$3,727$3,226$2,783$2,395$2,055$1,010
15 years$3,443$2,947$2,513$2,136$1,810$836
16 years$3,194$2,704$2,278$1,912$1,599$694
17 years$2,975$2,490$2,073$1,718$1,418$577
18 years$2,781$2,301$1,893$1,548$1,261$481
19 years$2,607$2,133$1,733$1,399$1,124$401
20 years$2,450$1,982$1,590$1,267$1,004$335
21 years$2,309$1,846$1,463$1,150$898$280
22 years$2,181$1,723$1,348$1,046$805$234
23 years$2,064$1,611$1,245$952$723$196
24 years$1,957$1,510$1,151$869$650$164
25 years$1,859$1,417$1,066$793$585$138
26 years$1,768$1,332$989$725$527$116
27 years$1,685$1,253$918$664$475$97
28 years$1,607$1,181$854$608$428$81
29 years$1,535$1,114$794$558$387$68
30 years$1,468$1,052$740$512$350$57
31 years$1,405$995$690$470$316$48
32 years$1,346$941$644$432$286$40
33 years$1,291$891$601$397$259$34
34 years$1,240$845$561$366$234$29
35 years$1,191$801$525$337$212$24
36 years$1,145$760$491$310$192$20
37 years$1,102$722$460$286$174$17
38 years$1,061$686$430$263$158$14
39 years$1,022$653$403$243$143$12
40 years$986$621$378$224$130$10
41 years$951$591$354$207$118$8
42 years$918$563$332$191$107$7
43 years$887$536$312$176$97$6
44 years$857$511$293$162$88$5
45 years$828$488$275$150$80$4
46 years$801$465$258$139$73$4
47 years$775$444$243$128$66$3
48 years$750$424$228$118$60$2
49 years$727$405$214$109$54$2
50 years$704$387$201$101$49$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $721,000, adding $4,120 every year, while hoping to spend $55,851 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: 81/14/5 Blend
60$721,000$721,000$721,000$721,000
61$798,792$760,579$749,403$863,054
62$820,844$738,422$715,083$883,515
63$843,273$713,308$677,742$898,088
64$866,059$685,032$637,218$912,357
65$889,177$653,379$593,346$926,259
66$912,599$618,121$545,949$939,726
67$936,292$579,016$494,845$952,684
68$960,214$535,809$439,844$965,049
69$984,323$488,230$380,745$976,733
70$1,008,564$435,994$317,340$987,636
71$1,032,879$378,799$249,413$997,649
72$1,057,200$316,327$176,735$1,006,653
73$1,081,449$248,242$99,070$1,014,519
74$1,105,538$174,187$16,171$1,021,102
75$1,129,369$93,788$0$1,026,246
76$1,152,829$6,648$0$1,033,636
77$1,175,792$0$0$1,040,399
78$1,198,117$0$0$1,058,982
79$1,219,644$0$0$1,077,867
80$1,240,195$0$0$1,095,872
81$1,259,572$0$0$1,112,816
82$1,277,550$0$0$1,128,502
83$1,293,882$0$0$1,142,706
84$1,308,289$0$0$1,155,180
85$1,320,462$0$0$1,165,648
86$1,330,057$0$0$1,173,803
87$1,336,689$0$0$1,179,300
88$1,339,934$0$0$1,181,760
89$1,339,318$0$0$1,180,760
90$1,334,314$0$0$1,175,828
91$1,324,338$0$0$1,166,445
92$1,308,744$0$0$1,152,031
93$1,286,813$0$0$1,131,945
94$1,257,749$0$0$1,105,477
95$1,220,670$0$0$1,071,837
96$1,174,600$0$0$1,030,155
97$1,118,458$0$0$979,464
98$1,051,047$0$0$918,697
99$971,043$0$0$846,670
100$876,981$0$0$762,075