Can I retire at age 61 with 622,000?

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 $622,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$51,364$50,907$50,460$50,025$49,599$48,031
2 years$25,428$24,954$24,495$24,050$23,619$22,053
3 years$16,783$16,308$15,850$15,409$14,985$13,470
4 years$12,462$11,988$11,535$11,101$10,687$9,236
5 years$9,870$9,399$8,951$8,527$8,124$6,740
6 years$8,143$7,675$7,234$6,819$6,428$5,113
7 years$6,909$6,445$6,012$5,606$5,228$3,980
8 years$5,984$5,525$5,098$4,703$4,337$3,157
9 years$5,266$4,810$4,391$4,006$3,653$2,538
10 years$4,691$4,240$3,828$3,453$3,112$2,062
11 years$4,221$3,775$3,370$3,005$2,677$1,689
12 years$3,830$3,388$2,991$2,636$2,319$1,392
13 years$3,499$3,062$2,672$2,327$2,023$1,153
14 years$3,215$2,783$2,401$2,066$1,773$960
15 years$2,970$2,542$2,168$1,842$1,561$801
16 years$2,756$2,333$1,966$1,650$1,380$671
17 years$2,567$2,148$1,789$1,482$1,223$563
18 years$2,399$1,985$1,633$1,336$1,088$473
19 years$2,249$1,840$1,495$1,207$970$398
20 years$2,114$1,710$1,372$1,093$866$336
21 years$1,992$1,592$1,262$992$775$283
22 years$1,882$1,486$1,163$902$695$239
23 years$1,781$1,390$1,074$822$624$202
24 years$1,688$1,303$993$749$560$171
25 years$1,604$1,222$920$684$504$145
26 years$1,525$1,149$853$626$454$123
27 years$1,453$1,081$792$573$410$104
28 years$1,386$1,019$736$525$370$88
29 years$1,324$961$685$481$334$75
30 years$1,266$908$638$442$302$63
31 years$1,212$858$595$406$273$54
32 years$1,161$812$555$373$247$45
33 years$1,114$769$518$343$223$39
34 years$1,069$729$484$315$202$33
35 years$1,027$691$453$290$183$28
36 years$988$656$424$267$166$24
37 years$951$623$396$246$150$20
38 years$915$592$371$227$136$17
39 years$882$563$348$209$124$14
40 years$850$536$326$193$112$12
41 years$820$510$306$178$102$10
42 years$792$486$287$164$92$9
43 years$765$463$269$152$84$7
44 years$739$441$253$140$76$6
45 years$714$421$237$129$69$5
46 years$691$401$223$120$63$5
47 years$669$383$209$110$57$4
48 years$647$366$197$102$52$3
49 years$627$349$185$94$47$3
50 years$607$333$174$87$43$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $622,000, adding $6,764 every year, while hoping to spend $25,448 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: 68/9/23 Blend
60$622,000$622,000$622,000$622,000
61$692,421$659,455$649,814$735,027
62$735,972$664,692$644,506$769,670
63$783,111$669,332$638,168$803,995
64$834,179$673,321$630,737$840,946
65$889,549$676,597$622,150$880,779
66$949,630$679,097$612,340$923,782
67$1,014,874$680,755$601,235$970,269
68$1,085,777$681,497$588,762$1,020,587
69$1,162,885$681,249$574,844$1,075,120
70$1,246,798$679,929$559,400$1,134,292
71$1,338,177$677,451$542,345$1,198,569
72$1,437,749$673,724$523,592$1,268,467
73$1,546,314$668,652$503,047$1,344,553
74$1,664,754$662,131$480,615$1,427,457
75$1,794,037$654,053$456,193$1,517,869
76$1,935,230$644,303$429,677$1,616,554
77$2,089,508$632,759$400,956$1,724,355
78$2,258,165$619,291$369,915$1,842,200
79$2,442,623$603,762$336,433$1,971,115
80$2,644,451$586,027$300,384$2,112,231
81$2,865,376$565,932$261,637$2,266,797
82$3,107,296$543,316$220,054$2,436,188
83$3,372,307$518,005$175,493$2,621,924
84$3,662,714$489,818$127,803$2,825,679
85$3,981,054$458,562$76,827$3,049,300
86$4,330,124$424,035$22,404$3,294,824
87$4,713,004$386,020$0$3,564,500
88$5,133,086$344,290$0$3,869,559
89$5,594,106$298,605$0$4,210,417
90$6,100,179$248,712$0$4,584,630
91$6,655,839$194,341$0$4,995,569
92$7,266,080$135,209$0$5,446,949
93$7,936,403$71,017$0$5,942,864
94$8,672,869$1,449$0$6,487,825
95$9,482,152$0$0$7,086,804
96$10,371,610$0$0$7,752,589
97$11,349,343$0$0$8,484,650
98$12,424,280$0$0$9,289,532
99$13,606,256$0$0$10,174,604
100$14,906,106$0$0$11,147,986