Can I retire at age 61 with 742,000?

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 $742,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$61,274$60,728$60,195$59,676$59,168$58,332
2 years$30,333$29,769$29,221$28,690$28,175$27,335
3 years$20,021$19,454$18,908$18,382$17,876$17,056
4 years$14,866$14,301$13,760$13,243$12,749$11,958
5 years$11,774$11,212$10,678$10,172$9,692$8,930
6 years$9,713$9,155$8,630$8,135$7,669$6,938
7 years$8,242$7,689$7,171$6,688$6,237$5,538
8 years$7,139$6,591$6,082$5,610$5,174$4,506
9 years$6,281$5,738$5,238$4,779$4,357$3,720
10 years$5,596$5,058$4,567$4,119$3,713$3,106
11 years$5,035$4,503$4,021$3,585$3,193$2,616
12 years$4,569$4,042$3,568$3,145$2,767$2,219
13 years$4,174$3,652$3,188$2,776$2,413$1,893
14 years$3,836$3,320$2,864$2,464$2,115$1,623
15 years$3,543$3,033$2,586$2,198$1,862$1,397
16 years$3,287$2,783$2,345$1,968$1,646$1,207
17 years$3,062$2,563$2,134$1,768$1,459$1,045
18 years$2,862$2,368$1,948$1,593$1,298$907
19 years$2,683$2,195$1,783$1,440$1,157$789
20 years$2,522$2,039$1,636$1,304$1,033$688
21 years$2,376$1,900$1,505$1,184$924$600
22 years$2,245$1,773$1,387$1,076$829$524
23 years$2,124$1,658$1,281$980$744$459
24 years$2,014$1,554$1,185$894$669$402
25 years$1,913$1,458$1,097$816$602$352
26 years$1,820$1,370$1,018$746$542$309
27 years$1,734$1,290$945$683$489$271
28 years$1,654$1,215$878$626$441$238
29 years$1,580$1,147$817$574$398$209
30 years$1,510$1,083$761$527$360$184
31 years$1,446$1,024$710$484$325$162
32 years$1,385$969$662$445$294$142
33 years$1,329$917$618$409$266$125
34 years$1,276$869$578$376$241$110
35 years$1,226$825$540$346$218$97
36 years$1,178$783$505$319$198$85
37 years$1,134$743$473$294$179$75
38 years$1,092$706$443$271$163$66
39 years$1,052$672$415$250$147$58
40 years$1,014$639$389$230$134$51
41 years$979$608$365$213$121$45
42 years$945$579$342$196$110$40
43 years$912$552$321$181$100$35
44 years$882$526$301$167$91$31
45 years$852$502$283$154$82$27
46 years$824$479$266$143$75$24
47 years$798$457$250$132$68$21
48 years$772$436$235$122$62$19
49 years$748$416$221$113$56$17
50 years$724$398$207$104$51$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $742,000, adding $2,045 every year, while hoping to spend $23,255 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: 52/22/26 Blend
60$742,000$742,000$742,000$742,000
61$819,793$780,467$768,966$856,367
62$878,669$793,967$769,984$895,441
63$942,771$807,349$770,256$935,392
64$1,012,607$820,583$769,733$978,383
65$1,088,737$833,635$768,363$1,024,713
66$1,171,777$846,472$766,092$1,074,712
67$1,262,405$859,056$762,862$1,128,746
68$1,361,366$871,346$758,615$1,187,216
69$1,469,483$883,299$753,286$1,250,566
70$1,587,660$894,870$746,810$1,319,286
71$1,716,891$906,009$739,118$1,393,917
72$1,858,274$916,663$730,138$1,475,056
73$2,013,015$926,777$719,795$1,563,360
74$2,182,443$936,290$708,009$1,659,557
75$2,368,022$945,138$694,697$1,764,448
76$2,571,364$953,253$679,773$1,878,918
77$2,794,243$960,563$663,146$2,003,943
78$3,038,615$966,989$644,720$2,140,600
79$3,306,633$972,451$624,397$2,290,078
80$3,600,668$976,859$602,073$2,453,686
81$3,923,333$980,122$577,639$2,632,872
82$4,277,504$982,139$550,981$2,829,230
83$4,666,352$982,806$521,981$3,044,522
84$5,093,367$982,011$490,515$3,280,688
85$5,562,395$979,634$456,452$3,539,870
86$6,077,674$975,551$419,658$3,824,432
87$6,643,871$969,627$379,990$4,136,978
88$7,266,127$961,720$337,301$4,480,383
89$7,950,108$951,680$291,437$4,857,816
90$8,702,054$939,347$242,235$5,272,775
91$9,528,841$924,553$189,527$5,729,115
92$10,438,045$907,118$133,138$6,231,088
93$11,438,011$886,853$72,884$6,783,384
94$12,537,935$863,555$8,573$7,391,175
95$13,747,949$837,014$0$8,060,163
96$15,079,215$807,003$0$8,813,300
97$16,544,033$773,284$0$9,644,479
98$18,155,954$735,606$0$10,559,026
99$19,929,912$693,700$0$11,565,437
100$21,882,357$647,286$0$12,673,073