Can I retire at age 61 with 744,000?

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 $744,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.2%
1 years$61,439$60,892$60,358$59,836$59,328$58,059
2 years$30,415$29,849$29,300$28,768$28,251$26,979
3 years$20,075$19,507$18,959$18,432$17,924$16,688
4 years$14,907$14,339$13,797$13,279$12,783$11,593
5 years$11,806$11,242$10,707$10,200$9,718$8,577
6 years$9,740$9,180$8,653$8,157$7,689$6,599
7 years$8,264$7,709$7,191$6,706$6,253$5,214
8 years$7,158$6,608$6,098$5,626$5,188$4,199
9 years$6,298$5,754$5,252$4,792$4,369$3,429
10 years$5,611$5,072$4,579$4,130$3,723$2,832
11 years$5,049$4,515$4,031$3,595$3,202$2,358
12 years$4,581$4,052$3,578$3,153$2,774$1,977
13 years$4,185$3,662$3,197$2,784$2,419$1,667
14 years$3,846$3,329$2,872$2,471$2,121$1,412
15 years$3,553$3,041$2,593$2,204$1,867$1,200
16 years$3,296$2,790$2,351$1,973$1,650$1,024
17 years$3,070$2,570$2,139$1,773$1,463$875
18 years$2,869$2,374$1,953$1,598$1,301$750
19 years$2,690$2,201$1,788$1,444$1,160$644
20 years$2,529$2,045$1,641$1,308$1,036$553
21 years$2,383$1,905$1,509$1,187$927$476
22 years$2,251$1,778$1,391$1,079$831$411
23 years$2,130$1,663$1,284$983$746$354
24 years$2,020$1,558$1,188$896$670$306
25 years$1,918$1,462$1,100$818$603$264
26 years$1,825$1,374$1,020$748$543$229
27 years$1,738$1,293$947$685$490$198
28 years$1,658$1,219$881$628$442$171
29 years$1,584$1,150$820$576$399$148
30 years$1,514$1,086$763$528$361$128
31 years$1,450$1,026$712$485$326$111
32 years$1,389$971$664$446$295$96
33 years$1,332$920$620$410$267$84
34 years$1,279$872$579$377$242$72
35 years$1,229$827$542$347$219$63
36 years$1,182$785$507$320$198$54
37 years$1,137$745$474$295$180$47
38 years$1,095$708$444$272$163$41
39 years$1,055$674$416$250$148$36
40 years$1,017$641$390$231$134$31
41 years$981$610$366$213$122$27
42 years$947$581$343$197$110$23
43 years$915$553$322$182$100$20
44 years$884$528$302$168$91$17
45 years$855$503$284$155$83$15
46 years$827$480$266$143$75$13
47 years$800$458$250$132$68$11
48 years$774$437$235$122$62$10
49 years$750$418$221$113$56$9
50 years$726$399$208$104$51$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $744,000, adding $6,349 every year, while hoping to spend $30,256 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$744,000$744,000$744,000$744,000
61$826,437$787,005$775,473$869,046
62$878,541$793,376$769,259$905,210
63$934,946$799,045$761,823$940,854
64$996,059$803,946$753,092$979,093
65$1,062,326$808,009$742,989$1,020,185
66$1,134,239$811,157$731,436$1,064,417
67$1,212,339$813,312$718,347$1,112,106
68$1,297,221$814,388$703,635$1,163,601
69$1,389,540$814,295$687,209$1,219,290
70$1,490,016$812,938$668,973$1,279,600
71$1,599,440$810,215$648,826$1,345,002
72$1,718,685$806,017$626,664$1,416,019
73$1,848,711$800,232$602,377$1,493,228
74$1,990,572$792,736$575,850$1,577,265
75$2,145,433$783,402$546,963$1,668,833
76$2,314,571$772,093$515,590$1,768,710
77$2,499,396$758,664$481,601$1,877,753
78$2,701,459$742,963$444,859$1,996,909
79$2,922,466$724,827$405,220$2,127,225
80$3,164,298$704,084$362,536$2,269,857
81$3,429,025$680,552$316,649$2,426,079
82$3,718,926$654,039$267,397$2,597,300
83$4,036,511$624,342$214,609$2,785,074
84$4,384,545$591,245$158,109$2,991,117
85$4,766,072$554,519$97,709$3,217,322
86$5,184,445$513,925$33,216$3,465,780
87$5,643,358$469,206$0$3,738,799
88$6,146,878$420,095$0$4,048,801
89$6,699,486$366,306$0$4,399,195
90$7,306,117$307,538$0$4,783,917
91$7,972,208$243,475$0$5,206,450
92$8,703,747$173,779$0$5,670,636
93$9,507,332$98,098$0$6,180,708
94$10,390,231$16,055$0$6,741,331
95$11,360,450$0$0$7,357,649
96$12,426,809$0$0$8,047,337
97$13,599,026$0$0$8,808,471
98$14,887,806$0$0$9,645,360
99$16,304,945$0$0$10,565,672
100$17,863,438$0$0$11,577,855