Can I retire at age 61 with 640,000?

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 $640,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$52,851$52,380$51,921$51,472$51,034$49,984
2 years$26,164$25,676$25,204$24,746$24,302$23,248
3 years$17,269$16,780$16,309$15,855$15,418$14,394
4 years$12,823$12,335$11,869$11,423$10,996$10,010
5 years$10,156$9,671$9,211$8,774$8,359$7,413
6 years$8,378$7,897$7,443$7,016$6,614$5,710
7 years$7,109$6,632$6,186$5,769$5,379$4,517
8 years$6,158$5,685$5,246$4,839$4,463$3,641
9 years$5,418$4,950$4,518$4,122$3,758$2,978
10 years$4,827$4,363$3,939$3,553$3,202$2,462
11 years$4,343$3,884$3,468$3,092$2,754$2,053
12 years$3,941$3,486$3,078$2,712$2,387$1,723
13 years$3,600$3,150$2,750$2,395$2,081$1,455
14 years$3,309$2,864$2,471$2,126$1,824$1,234
15 years$3,056$2,616$2,231$1,896$1,606$1,051
16 years$2,835$2,400$2,022$1,697$1,420$897
17 years$2,641$2,210$1,840$1,525$1,259$768
18 years$2,468$2,042$1,680$1,374$1,119$659
19 years$2,314$1,893$1,538$1,242$998$567
20 years$2,175$1,759$1,411$1,125$891$488
21 years$2,050$1,638$1,298$1,021$797$421
22 years$1,936$1,529$1,197$928$715$363
23 years$1,832$1,430$1,105$845$642$314
24 years$1,737$1,340$1,022$771$577$271
25 years$1,650$1,258$946$704$519$235
26 years$1,570$1,182$878$644$467$203
27 years$1,495$1,112$815$589$421$176
28 years$1,426$1,048$758$540$380$153
29 years$1,362$989$705$495$343$133
30 years$1,303$934$657$454$310$115
31 years$1,247$883$612$417$280$100
32 years$1,195$835$571$384$254$87
33 years$1,146$791$533$353$230$75
34 years$1,100$750$498$324$208$65
35 years$1,057$711$466$299$188$57
36 years$1,016$675$436$275$171$49
37 years$978$641$408$253$155$43
38 years$942$609$382$234$140$37
39 years$908$579$358$215$127$32
40 years$875$551$335$199$115$28
41 years$844$525$315$183$105$24
42 years$815$500$295$169$95$21
43 years$787$476$277$156$86$18
44 years$760$454$260$144$78$16
45 years$735$433$244$133$71$14
46 years$711$413$229$123$64$12
47 years$688$394$215$114$59$11
48 years$666$376$202$105$53$9
49 years$645$359$190$97$48$8
50 years$625$343$179$90$44$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $640,000, adding $3,741 every year, while hoping to spend $32,835 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: 39/40/21 Blend
60$640,000$640,000$640,000$640,000
61$709,139$675,219$665,299$732,232
62$746,535$673,368$652,650$747,359
63$786,645$670,327$638,477$760,319
64$829,711$666,001$622,694$773,662
65$875,998$660,292$605,212$787,444
66$925,800$653,096$585,936$801,725
67$979,435$644,301$564,768$816,574
68$1,037,256$633,791$541,607$832,073
69$1,099,649$621,439$516,344$848,311
70$1,167,039$607,116$488,867$865,390
71$1,239,892$590,679$459,059$883,429
72$1,318,721$571,983$426,798$902,558
73$1,404,091$550,870$391,955$922,927
74$1,496,620$527,175$354,398$944,703
75$1,596,990$500,721$313,985$968,075
76$1,705,951$471,325$270,572$993,257
77$1,824,328$438,789$224,006$1,020,487
78$1,953,026$402,907$174,127$1,050,034
79$2,093,044$363,459$120,769$1,082,198
80$2,245,480$320,213$63,760$1,117,317
81$2,411,540$272,925$2,918$1,155,767
82$2,592,555$221,337$0$1,197,971
83$2,789,987$165,174$0$1,258,295
84$3,005,447$104,148$0$1,324,971
85$3,240,706$37,955$0$1,397,978
86$3,497,716$0$0$1,478,019
87$3,778,624$0$0$1,580,721
88$4,085,795$0$0$1,711,374
89$4,421,833$0$0$1,854,391
90$4,789,604$0$0$2,011,002
91$5,192,266$0$0$2,182,562
92$5,633,293$0$0$2,370,565
93$6,116,516$0$0$2,576,653
94$6,646,148$0$0$2,802,637
95$7,226,834$0$0$3,050,511
96$7,863,688$0$0$3,322,472
97$8,562,342$0$0$3,620,938
98$9,329,000$0$0$3,948,574
99$10,170,496$0$0$4,308,316
100$11,094,357$0$0$4,703,396