Can I retire at age 61 with 656,000?

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 $656,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14%
1 years$54,172$53,689$53,219$52,759$52,310$51,444
2 years$26,818$26,318$25,834$25,365$24,910$24,039
3 years$17,701$17,199$16,716$16,252$15,804$14,956
4 years$13,143$12,643$12,165$11,708$11,271$10,454
5 years$10,410$9,913$9,441$8,993$8,568$7,783
6 years$8,588$8,094$7,630$7,192$6,780$6,027
7 years$7,287$6,798$6,340$5,913$5,514$4,794
8 years$6,312$5,827$5,377$4,960$4,574$3,888
9 years$5,553$5,073$4,631$4,225$3,852$3,198
10 years$4,947$4,472$4,038$3,642$3,282$2,660
11 years$4,452$3,981$3,555$3,170$2,823$2,232
12 years$4,039$3,573$3,155$2,780$2,446$1,886
13 years$3,690$3,229$2,818$2,454$2,133$1,603
14 years$3,391$2,935$2,532$2,179$1,870$1,369
15 years$3,133$2,681$2,286$1,943$1,646$1,173
16 years$2,906$2,460$2,073$1,740$1,455$1,009
17 years$2,707$2,266$1,886$1,563$1,290$870
18 years$2,530$2,094$1,722$1,409$1,147$752
19 years$2,372$1,940$1,576$1,273$1,023$651
20 years$2,230$1,803$1,447$1,153$913$565
21 years$2,101$1,679$1,331$1,046$817$491
22 years$1,984$1,568$1,226$951$733$427
23 years$1,878$1,466$1,132$866$658$372
24 years$1,781$1,374$1,047$790$591$324
25 years$1,691$1,289$970$722$532$283
26 years$1,609$1,212$900$660$479$247
27 years$1,533$1,140$835$604$432$216
28 years$1,462$1,074$777$553$390$189
29 years$1,396$1,014$723$507$352$165
30 years$1,335$957$673$466$318$144
31 years$1,278$905$628$428$288$126
32 years$1,225$856$586$393$260$110
33 years$1,175$811$547$361$235$97
34 years$1,128$769$511$333$213$85
35 years$1,084$729$478$306$193$74
36 years$1,042$692$447$282$175$65
37 years$1,003$657$418$260$158$57
38 years$965$625$392$239$144$50
39 years$930$594$367$221$130$44
40 years$897$565$344$204$118$38
41 years$865$538$322$188$107$34
42 years$835$512$302$173$97$29
43 years$807$488$284$160$88$26
44 years$779$465$266$148$80$23
45 years$754$444$250$137$73$20
46 years$729$423$235$126$66$17
47 years$705$404$221$116$60$15
48 years$683$386$207$108$54$13
49 years$661$368$195$99$49$12
50 years$640$352$183$92$45$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $656,000, adding $6,385 every year, while hoping to spend $56,755 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: 70/11/19 Blend
60$656,000$656,000$656,000$656,000
61$729,498$694,730$684,562$776,776
62$743,520$668,385$647,108$782,767
63$757,070$638,847$606,497$781,995
64$770,040$605,899$562,564$779,734
65$782,309$569,313$515,134$775,832
66$793,742$528,847$464,029$770,120
67$804,187$484,244$409,057$762,415
68$813,477$435,235$350,023$752,519
69$821,423$381,532$286,721$740,212
70$827,816$322,835$218,934$725,256
71$832,423$258,824$146,438$707,391
72$834,986$189,162$68,999$686,332
73$835,216$113,493$0$661,769
74$832,794$31,440$0$636,126
75$827,365$0$0$621,376
76$818,536$0$0$610,108
77$805,870$0$0$599,666
78$788,882$0$0$585,870
79$767,038$0$0$568,305
80$739,743$0$0$546,513
81$706,339$0$0$519,985
82$666,099$0$0$488,160
83$618,218$0$0$450,416
84$561,804$0$0$406,065
85$495,873$0$0$354,345
86$419,335$0$0$294,416
87$330,986$0$0$225,348
88$229,495$0$0$146,114
89$113,391$0$0$55,577
90$0$0$0$0
91$0$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0