Can I retire at age 61 with 746,000?

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 $746,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$61,604$61,055$60,520$59,997$59,487$58,915
2 years$30,497$29,929$29,379$28,845$28,327$27,751
3 years$20,129$19,559$19,010$18,481$17,972$17,409
4 years$14,947$14,378$13,834$13,315$12,818$12,273
5 years$11,838$11,272$10,736$10,227$9,744$9,219
6 years$9,766$9,205$8,676$8,179$7,710$7,205
7 years$8,286$7,730$7,210$6,724$6,270$5,786
8 years$7,177$6,626$6,115$5,641$5,202$4,738
9 years$6,315$5,769$5,267$4,805$4,381$3,937
10 years$5,626$5,085$4,592$4,142$3,733$3,309
11 years$5,062$4,527$4,042$3,604$3,210$2,806
12 years$4,593$4,063$3,587$3,162$2,782$2,397
13 years$4,196$3,672$3,205$2,791$2,426$2,060
14 years$3,857$3,338$2,880$2,478$2,126$1,779
15 years$3,562$3,049$2,600$2,210$1,872$1,543
16 years$3,305$2,798$2,357$1,979$1,655$1,342
17 years$3,078$2,576$2,145$1,778$1,467$1,172
18 years$2,877$2,381$1,958$1,602$1,305$1,025
19 years$2,697$2,206$1,793$1,448$1,163$899
20 years$2,535$2,050$1,645$1,311$1,039$790
21 years$2,389$1,910$1,513$1,190$929$695
22 years$2,257$1,783$1,395$1,082$833$612
23 years$2,136$1,667$1,288$985$748$540
24 years$2,025$1,562$1,191$899$672$477
25 years$1,923$1,466$1,103$821$605$422
26 years$1,830$1,378$1,023$750$545$373
27 years$1,743$1,297$950$687$491$331
28 years$1,663$1,222$883$629$443$293
29 years$1,588$1,153$822$577$400$260
30 years$1,519$1,089$766$530$362$230
31 years$1,454$1,029$714$486$327$204
32 years$1,393$974$666$447$296$181
33 years$1,336$922$622$411$268$161
34 years$1,283$874$581$378$242$143
35 years$1,232$829$543$348$219$127
36 years$1,185$787$508$321$199$113
37 years$1,140$747$476$295$180$100
38 years$1,098$710$445$272$163$89
39 years$1,058$675$417$251$148$79
40 years$1,020$643$391$232$134$71
41 years$984$612$367$214$122$63
42 years$950$582$344$197$111$56
43 years$917$555$323$182$100$50
44 years$886$529$303$168$91$44
45 years$857$504$284$155$83$39
46 years$829$481$267$143$75$35
47 years$802$459$251$132$68$31
48 years$776$438$236$122$62$28
49 years$752$419$222$113$56$25
50 years$728$400$208$105$51$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $746,000, adding $3,790 every year, while hoping to spend $24,284 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: 24/48/28 Blend
60$746,000$746,000$746,000$746,000
61$826,001$786,463$774,900$838,477
62$884,416$799,162$775,022$862,063
63$947,974$811,669$774,333$885,018
64$1,017,176$823,950$772,782$909,103
65$1,092,571$835,966$770,312$934,429
66$1,174,762$847,677$766,867$961,118
67$1,264,416$859,041$762,385$989,308
68$1,362,264$870,012$756,803$1,019,149
69$1,469,112$880,540$750,053$1,050,812
70$1,585,847$890,572$742,065$1,084,485
71$1,713,446$900,053$732,767$1,120,375
72$1,852,985$908,923$722,082$1,158,716
73$2,005,646$917,117$709,929$1,199,765
74$2,172,734$924,568$696,224$1,243,807
75$2,355,685$931,203$680,879$1,291,162
76$2,556,078$936,945$663,801$1,342,182
77$2,775,655$941,712$644,896$1,397,257
78$3,016,332$945,417$624,060$1,456,822
79$3,280,222$947,967$601,190$1,521,358
80$3,569,650$949,262$576,175$1,591,398
81$3,887,177$949,199$548,900$1,667,534
82$4,235,625$947,665$519,244$1,750,422
83$4,618,100$944,543$487,081$1,840,786
84$5,038,028$939,706$452,279$1,939,432
85$5,499,177$933,023$414,701$2,047,250
86$6,005,703$924,351$374,203$2,165,225
87$6,562,182$913,540$330,636$2,294,450
88$7,173,653$900,433$283,841$2,436,133
89$7,845,672$884,861$233,656$2,591,609
90$8,584,357$866,645$179,910$2,762,359
91$9,396,448$845,597$122,423$2,950,019
92$10,289,371$821,517$61,010$3,156,398
93$11,271,309$794,194$0$3,383,497
94$12,351,276$763,402$0$3,634,882
95$13,539,204$728,907$0$3,931,186
96$14,846,035$690,456$0$4,256,931
97$16,283,827$647,785$0$4,615,170
98$17,865,864$600,613$0$5,009,276
99$19,606,783$548,643$0$5,442,970
100$21,522,712$491,564$0$5,920,359