Can I retire at age 61 with 741,000?

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 $741,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$61,191$60,646$60,114$59,595$59,088$57,801
2 years$30,293$29,728$29,182$28,652$28,137$26,847
3 years$19,994$19,428$18,882$18,357$17,851$16,598
4 years$14,846$14,282$13,742$13,225$12,732$11,525
5 years$11,758$11,197$10,664$10,158$9,679$8,522
6 years$9,700$9,143$8,618$8,124$7,658$6,553
7 years$8,231$7,678$7,162$6,679$6,228$5,175
8 years$7,129$6,582$6,074$5,603$5,167$4,165
9 years$6,273$5,731$5,231$4,772$4,351$3,400
10 years$5,588$5,051$4,561$4,114$3,708$2,805
11 years$5,029$4,497$4,015$3,580$3,189$2,335
12 years$4,562$4,036$3,563$3,140$2,763$1,956
13 years$4,168$3,647$3,184$2,772$2,410$1,648
14 years$3,831$3,315$2,861$2,461$2,112$1,395
15 years$3,538$3,029$2,583$2,195$1,860$1,185
16 years$3,283$2,779$2,342$1,965$1,644$1,010
17 years$3,058$2,559$2,131$1,766$1,457$863
18 years$2,858$2,365$1,945$1,591$1,296$739
19 years$2,679$2,192$1,781$1,438$1,155$634
20 years$2,518$2,037$1,634$1,302$1,032$544
21 years$2,373$1,897$1,503$1,182$923$468
22 years$2,242$1,771$1,385$1,075$828$403
23 years$2,121$1,656$1,279$979$743$348
24 years$2,011$1,552$1,183$893$668$300
25 years$1,910$1,456$1,096$815$601$259
26 years$1,817$1,369$1,016$745$541$224
27 years$1,731$1,288$944$682$488$193
28 years$1,652$1,214$877$625$440$167
29 years$1,577$1,145$816$573$398$145
30 years$1,508$1,081$760$526$359$125
31 years$1,444$1,022$709$483$325$108
32 years$1,384$967$661$444$294$94
33 years$1,327$916$618$408$266$81
34 years$1,274$868$577$376$241$70
35 years$1,224$823$539$346$218$61
36 years$1,177$782$505$319$198$53
37 years$1,132$742$472$293$179$46
38 years$1,090$705$442$270$162$40
39 years$1,051$671$414$249$147$34
40 years$1,013$638$388$230$134$30
41 years$977$608$364$212$121$26
42 years$943$579$342$196$110$22
43 years$911$551$321$181$100$19
44 years$880$525$301$167$91$17
45 years$851$501$283$154$82$15
46 years$823$478$265$142$75$13
47 years$797$456$249$132$68$11
48 years$771$435$234$122$62$10
49 years$747$416$220$112$56$8
50 years$723$397$207$104$51$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $741,000, adding $3,308 every year, while hoping to spend $30,014 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: 49/27/24 Blend
60$741,000$741,000$741,000$741,000
61$819,994$780,721$769,236$854,462
62$871,699$787,042$763,070$885,161
63$927,672$792,666$755,693$915,220
64$988,316$797,529$747,030$947,269
65$1,054,076$801,559$737,007$981,510
66$1,125,439$804,683$725,544$1,018,165
67$1,202,942$806,821$712,559$1,057,481
68$1,287,176$807,889$697,963$1,099,731
69$1,378,790$807,798$681,667$1,145,220
70$1,478,499$806,452$663,576$1,194,281
71$1,587,089$803,752$643,589$1,247,287
72$1,705,426$799,589$621,602$1,304,648
73$1,834,461$793,851$597,507$1,366,821
74$1,975,243$786,416$571,191$1,434,308
75$2,128,925$777,158$542,533$1,507,666
76$2,296,777$765,940$511,409$1,587,513
77$2,480,197$752,620$477,690$1,674,531
78$2,680,724$737,045$441,240$1,769,473
79$2,900,053$719,055$401,916$1,873,175
80$3,140,048$698,479$359,571$1,986,558
81$3,402,766$675,137$314,049$2,110,643
82$3,690,467$648,838$265,189$2,246,557
83$4,005,643$619,380$212,821$2,395,547
84$4,351,038$586,549$156,770$2,558,988
85$4,729,673$550,118$96,851$2,738,405
86$5,144,875$509,850$32,871$2,935,478
87$5,600,311$465,491$0$3,152,065
88$6,100,017$416,775$0$3,399,285
89$6,648,440$363,418$0$3,679,912
90$7,250,478$305,123$0$3,988,079
91$7,911,527$241,574$0$4,326,609
92$8,637,530$172,438$0$4,698,618
93$9,435,035$97,364$0$5,107,540
94$10,311,254$15,980$0$5,557,166
95$11,274,133$0$0$6,051,673
96$12,332,427$0$0$6,617,095
97$13,495,779$0$0$7,243,954
98$14,774,815$0$0$7,933,237
99$16,181,240$0$0$8,691,265
100$17,727,952$0$0$9,525,001