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%13.3%
1 years$59,540$59,009$58,492$57,987$57,494$56,705
2 years$29,475$28,926$28,394$27,878$27,378$26,584
3 years$19,455$18,903$18,373$17,862$17,370$16,596
4 years$14,446$13,896$13,371$12,868$12,388$11,641
5 years$11,441$10,895$10,376$9,884$9,417$8,698
6 years$9,439$8,896$8,386$7,904$7,452$6,762
7 years$8,009$7,471$6,968$6,499$6,060$5,400
8 years$6,937$6,404$5,910$5,452$5,027$4,396
9 years$6,104$5,576$5,090$4,644$4,234$3,632
10 years$5,438$4,915$4,438$4,003$3,607$3,034
11 years$4,893$4,375$3,907$3,484$3,103$2,557
12 years$4,439$3,927$3,467$3,056$2,689$2,170
13 years$4,056$3,549$3,098$2,698$2,345$1,853
14 years$3,727$3,226$2,783$2,395$2,055$1,590
15 years$3,443$2,947$2,513$2,136$1,810$1,369
16 years$3,194$2,704$2,278$1,912$1,599$1,183
17 years$2,975$2,490$2,073$1,718$1,418$1,025
18 years$2,781$2,301$1,893$1,548$1,261$891
19 years$2,607$2,133$1,733$1,399$1,124$776
20 years$2,450$1,982$1,590$1,267$1,004$676
21 years$2,309$1,846$1,463$1,150$898$591
22 years$2,181$1,723$1,348$1,046$805$517
23 years$2,064$1,611$1,245$952$723$452
24 years$1,957$1,510$1,151$869$650$396
25 years$1,859$1,417$1,066$793$585$348
26 years$1,768$1,332$989$725$527$305
27 years$1,685$1,253$918$664$475$268
28 years$1,607$1,181$854$608$428$236
29 years$1,535$1,114$794$558$387$207
30 years$1,468$1,052$740$512$350$182
31 years$1,405$995$690$470$316$161
32 years$1,346$941$644$432$286$141
33 years$1,291$891$601$397$259$124
34 years$1,240$845$561$366$234$110
35 years$1,191$801$525$337$212$97
36 years$1,145$760$491$310$192$85
37 years$1,102$722$460$286$174$75
38 years$1,061$686$430$263$158$66
39 years$1,022$653$403$243$143$58
40 years$986$621$378$224$130$51
41 years$951$591$354$207$118$45
42 years$918$563$332$191$107$40
43 years$887$536$312$176$97$35
44 years$857$511$293$162$88$31
45 years$828$488$275$150$80$27
46 years$801$465$258$139$73$24
47 years$775$444$243$128$66$21
48 years$750$424$228$118$60$19
49 years$727$405$214$109$54$17
50 years$704$387$201$101$49$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $721,000, adding $5,901 every year, while hoping to spend $44,444 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: 44/41/15 Blend
60$721,000$721,000$721,000$721,000
61$800,629$762,416$751,240$832,151
62$835,005$752,486$729,119$844,856
63$871,398$740,580$704,767$853,710
64$909,966$726,555$678,062$862,347
65$950,884$710,257$648,878$870,764
66$994,340$691,526$617,082$878,964
67$1,040,543$670,190$582,534$886,953
68$1,089,718$646,070$545,089$894,740
69$1,142,116$618,973$504,596$902,341
70$1,198,007$588,699$460,895$909,775
71$1,257,690$555,031$413,822$917,070
72$1,321,492$517,745$363,202$924,261
73$1,389,770$476,600$308,855$931,388
74$1,462,917$431,345$250,592$938,507
75$1,541,364$381,710$188,217$945,678
76$1,625,584$327,414$121,523$952,979
77$1,716,094$268,158$50,294$960,499
78$1,813,465$203,627$0$968,344
79$1,918,320$133,487$0$980,754
80$2,031,348$57,386$0$1,002,614
81$2,153,300$0$0$1,026,072
82$2,285,007$0$0$1,062,660
83$2,427,378$0$0$1,130,266
84$2,581,414$0$0$1,203,483
85$2,748,215$0$0$1,282,843
86$2,928,989$0$0$1,368,931
87$3,125,067$0$0$1,462,390
88$3,337,910$0$0$1,563,928
89$3,569,127$0$0$1,674,321
90$3,820,487$0$0$1,794,428
91$4,093,935$0$0$1,925,189
92$4,391,614$0$0$2,067,642
93$4,715,879$0$0$2,222,926
94$5,069,323$0$0$2,392,297
95$5,454,800$0$0$2,577,137
96$5,875,451$0$0$2,778,967
97$6,334,732$0$0$2,999,460
98$6,836,449$0$0$3,240,461
99$7,384,792$0$0$3,503,998
100$7,984,373$0$0$3,792,305