Can I retire at age 61 with 722,000?

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 $722,000?

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$59,622$59,091$58,573$58,067$57,573$57,163
2 years$29,516$28,966$28,433$27,917$27,416$27,002
3 years$19,482$18,930$18,398$17,887$17,394$16,989
4 years$14,466$13,915$13,389$12,886$12,405$12,013
5 years$11,457$10,910$10,391$9,898$9,430$9,052
6 years$9,452$8,909$8,397$7,915$7,462$7,097
7 years$8,020$7,481$6,978$6,508$6,069$5,718
8 years$6,947$6,413$5,918$5,459$5,034$4,699
9 years$6,112$5,584$5,097$4,650$4,240$3,918
10 years$5,445$4,922$4,444$4,008$3,612$3,305
11 years$4,900$4,382$3,912$3,488$3,107$2,813
12 years$4,445$3,933$3,472$3,060$2,692$2,412
13 years$4,061$3,554$3,102$2,701$2,348$2,081
14 years$3,732$3,230$2,787$2,398$2,058$1,804
15 years$3,448$2,951$2,516$2,139$1,812$1,571
16 years$3,199$2,708$2,282$1,915$1,601$1,372
17 years$2,979$2,494$2,076$1,720$1,420$1,203
18 years$2,784$2,304$1,895$1,551$1,263$1,057
19 years$2,610$2,135$1,735$1,401$1,125$931
20 years$2,454$1,984$1,592$1,269$1,005$821
21 years$2,312$1,848$1,465$1,152$900$726
22 years$2,184$1,725$1,350$1,047$806$643
23 years$2,067$1,614$1,246$954$724$570
24 years$1,960$1,512$1,153$870$651$505
25 years$1,861$1,419$1,068$794$585$449
26 years$1,771$1,334$990$726$527$399
27 years$1,687$1,255$919$665$475$355
28 years$1,609$1,183$855$609$429$316
29 years$1,537$1,116$795$559$387$282
30 years$1,470$1,054$741$513$350$251
31 years$1,407$996$691$471$316$224
32 years$1,348$942$644$433$286$200
33 years$1,293$892$602$398$259$178
34 years$1,241$846$562$366$235$159
35 years$1,193$802$526$337$212$142
36 years$1,147$761$492$310$192$127
37 years$1,103$723$460$286$174$113
38 years$1,062$687$431$264$158$101
39 years$1,024$654$404$243$143$91
40 years$987$622$378$224$130$81
41 years$952$592$355$207$118$72
42 years$919$564$333$191$107$65
43 years$888$537$312$176$97$58
44 years$858$512$293$163$88$52
45 years$829$488$275$150$80$46
46 years$802$466$259$139$73$41
47 years$776$444$243$128$66$37
48 years$751$424$228$118$60$33
49 years$728$405$215$109$54$30
50 years$705$387$202$101$49$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $722,000, adding $5,574 every year, while hoping to spend $25,515 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: 59/15/26 Blend
60$722,000$722,000$722,000$722,000
61$801,394$763,128$751,937$842,743
62$855,988$773,373$749,979$881,833
63$915,296$783,265$747,100$921,242
64$979,771$792,760$743,243$963,687
65$1,049,913$801,811$738,347$1,009,470
66$1,126,270$810,366$732,348$1,058,922
67$1,209,448$818,373$725,180$1,112,410
68$1,300,112$825,773$716,773$1,170,339
69$1,398,993$832,505$707,055$1,233,157
70$1,506,898$838,505$695,949$1,301,355
71$1,624,713$843,704$683,374$1,375,478
72$1,753,414$848,026$669,248$1,456,128
73$1,894,078$851,394$653,483$1,543,967
74$2,047,885$853,724$635,986$1,639,726
75$2,216,141$854,928$616,663$1,744,214
76$2,400,279$854,911$595,413$1,858,322
77$2,601,878$853,572$572,130$1,983,032
78$2,822,679$850,807$546,706$2,119,429
79$3,064,598$846,502$519,026$2,268,711
80$3,329,743$840,536$488,969$2,432,199
81$3,620,438$832,784$456,412$2,611,349
82$3,939,243$823,111$421,221$2,807,768
83$4,288,976$811,373$383,262$3,023,232
84$4,672,741$797,420$342,391$3,259,696
85$5,093,958$781,092$298,459$3,519,318
86$5,556,395$762,218$251,310$3,804,478
87$6,064,200$740,619$200,782$4,117,804
88$6,621,944$716,105$146,704$4,462,191
89$7,234,663$688,475$88,899$4,840,834
90$7,907,903$657,515$27,182$5,257,257
91$8,647,776$623,000$0$5,715,344
92$9,461,014$584,691$0$6,230,114
93$10,355,033$542,338$0$6,804,306
94$11,338,007$495,672$0$7,435,643
95$12,418,936$444,413$0$8,129,932
96$13,607,741$388,262$0$8,893,575
97$14,915,348$326,905$0$9,733,629
98$16,353,800$260,010$0$10,657,868
99$17,936,362$187,225$0$11,674,863
100$19,677,652$108,179$0$12,794,058