Can I retire at age 61 with 754,000?

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 $754,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.4%
1 years$62,265$61,710$61,169$60,641$60,125$59,032
2 years$30,824$30,250$29,694$29,154$28,631$27,534
3 years$20,345$19,769$19,214$18,679$18,165$17,097
4 years$15,107$14,532$13,983$13,457$12,955$11,926
5 years$11,965$11,393$10,851$10,337$9,848$8,860
6 years$9,871$9,304$8,769$8,266$7,793$6,847
7 years$8,375$7,813$7,287$6,796$6,338$5,434
8 years$7,254$6,697$6,180$5,701$5,258$4,396
9 years$6,383$5,831$5,323$4,856$4,428$3,608
10 years$5,686$5,140$4,641$4,186$3,773$2,994
11 years$5,117$4,576$4,086$3,643$3,245$2,506
12 years$4,642$4,107$3,626$3,195$2,812$2,112
13 years$4,241$3,711$3,240$2,821$2,452$1,790
14 years$3,898$3,374$2,911$2,504$2,149$1,524
15 years$3,600$3,082$2,628$2,233$1,892$1,303
16 years$3,341$2,828$2,383$2,000$1,672$1,118
17 years$3,111$2,604$2,168$1,797$1,483$961
18 years$2,908$2,406$1,979$1,619$1,319$828
19 years$2,726$2,230$1,812$1,463$1,175$715
20 years$2,563$2,072$1,663$1,325$1,050$619
21 years$2,415$1,930$1,530$1,203$939$536
22 years$2,281$1,802$1,410$1,093$842$465
23 years$2,159$1,685$1,302$996$756$403
24 years$2,047$1,579$1,204$908$679$351
25 years$1,944$1,482$1,115$829$611$305
26 years$1,849$1,393$1,034$758$551$265
27 years$1,762$1,311$960$694$496$231
28 years$1,681$1,235$893$636$448$201
29 years$1,605$1,165$831$583$405$175
30 years$1,535$1,100$774$535$366$153
31 years$1,469$1,040$721$492$330$133
32 years$1,408$984$673$452$299$116
33 years$1,350$932$628$415$271$102
34 years$1,296$883$587$382$245$89
35 years$1,245$838$549$352$222$77
36 years$1,198$795$514$324$201$68
37 years$1,152$755$481$299$182$59
38 years$1,110$718$450$275$165$52
39 years$1,069$683$422$254$150$45
40 years$1,031$649$395$234$136$39
41 years$994$618$371$216$123$34
42 years$960$589$348$199$112$30
43 years$927$561$326$184$101$26
44 years$896$535$306$170$92$23
45 years$866$510$288$157$84$20
46 years$838$486$270$145$76$17
47 years$811$464$254$134$69$15
48 years$785$443$238$124$63$13
49 years$760$423$224$114$57$12
50 years$736$404$211$106$52$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $754,000, adding $6,725 every year, while hoping to spend $36,961 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: 48/33/19 Blend
60$754,000$754,000$754,000$754,000
61$837,845$797,883$786,196$873,275
62$883,979$797,653$773,207$898,355
63$933,580$796,173$758,545$921,289
64$986,962$793,343$742,113$945,411
65$1,044,471$789,056$723,813$970,848
66$1,106,487$783,199$703,540$997,741
67$1,173,426$775,653$681,186$1,026,247
68$1,245,746$766,290$656,637$1,056,544
69$1,323,950$754,977$629,772$1,088,826
70$1,408,593$741,570$600,469$1,123,313
71$1,500,281$725,919$568,597$1,160,249
72$1,599,684$707,863$534,019$1,199,906
73$1,707,536$687,233$496,593$1,242,586
74$1,824,647$663,850$456,172$1,288,626
75$1,951,907$637,524$412,598$1,338,400
76$2,090,292$608,054$365,712$1,392,324
77$2,240,881$575,228$315,342$1,450,862
78$2,404,857$538,820$261,312$1,514,527
79$2,583,524$498,594$203,438$1,583,891
80$2,778,317$454,298$141,526$1,659,587
81$2,990,813$405,666$75,375$1,742,319
82$3,222,751$352,419$4,775$1,832,869
83$3,476,043$294,259$0$1,932,101
84$3,752,795$230,873$0$2,055,284
85$4,055,324$161,930$0$2,191,138
86$4,386,184$87,081$0$2,339,923
87$4,748,183$5,957$0$2,502,998
88$5,144,417$0$0$2,681,864
89$5,578,292$0$0$2,907,897
90$6,053,560$0$0$3,157,947
91$6,574,354$0$0$3,432,035
92$7,145,223$0$0$3,732,568
93$7,771,180$0$0$4,062,194
94$8,457,745$0$0$4,423,834
95$9,210,997$0$0$4,820,700
96$10,037,634$0$0$5,256,334
97$10,945,032$0$0$5,734,636
98$11,941,316$0$0$6,259,903
99$13,035,439$0$0$6,836,867
100$14,237,259$0$0$7,470,744