Can I retire at age 61 with 677,000?

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 $677,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$55,906$55,408$54,922$54,448$53,985$53,047
2 years$27,676$27,161$26,661$26,177$25,707$24,765
3 years$18,268$17,750$17,252$16,772$16,310$15,393
4 years$13,564$13,048$12,555$12,083$11,632$10,748
5 years$10,743$10,230$9,743$9,281$8,843$7,993
6 years$8,863$8,353$7,874$7,422$6,997$6,184
7 years$7,520$7,015$6,543$6,102$5,690$4,913
8 years$6,514$6,013$5,549$5,119$4,721$3,979
9 years$5,731$5,236$4,779$4,360$3,975$3,270
10 years$5,106$4,615$4,167$3,759$3,387$2,717
11 years$4,594$4,108$3,668$3,271$2,913$2,277
12 years$4,168$3,688$3,256$2,869$2,525$1,921
13 years$3,808$3,332$2,909$2,533$2,201$1,631
14 years$3,500$3,029$2,613$2,249$1,930$1,391
15 years$3,233$2,767$2,360$2,005$1,699$1,190
16 years$2,999$2,539$2,139$1,796$1,502$1,022
17 years$2,794$2,338$1,947$1,613$1,331$880
18 years$2,611$2,161$1,777$1,454$1,184$760
19 years$2,448$2,002$1,627$1,314$1,055$657
20 years$2,301$1,861$1,493$1,190$943$569
21 years$2,168$1,733$1,373$1,080$843$494
22 years$2,048$1,618$1,266$982$756$429
23 years$1,938$1,513$1,169$894$679$373
24 years$1,838$1,418$1,081$816$610$325
25 years$1,745$1,330$1,001$745$549$283
26 years$1,660$1,250$928$681$494$246
27 years$1,582$1,177$862$623$446$215
28 years$1,509$1,109$801$571$402$187
29 years$1,441$1,046$746$524$363$164
30 years$1,378$988$695$481$328$143
31 years$1,319$934$648$441$297$125
32 years$1,264$884$604$406$268$109
33 years$1,212$837$564$373$243$95
34 years$1,164$793$527$343$220$83
35 years$1,118$752$493$316$199$73
36 years$1,075$714$461$291$180$64
37 years$1,035$678$432$268$164$56
38 years$996$645$404$247$148$49
39 years$960$613$379$228$134$43
40 years$926$583$355$210$122$37
41 years$893$555$333$194$111$33
42 years$862$529$312$179$100$29
43 years$832$504$293$165$91$25
44 years$804$480$275$153$83$22
45 years$778$458$258$141$75$19
46 years$752$437$242$130$68$17
47 years$728$417$228$120$62$15
48 years$705$398$214$111$56$13
49 years$682$380$201$103$51$11
50 years$661$363$189$95$46$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $677,000, adding $5,048 every year, while hoping to spend $33,600 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: 63/26/11 Blend
60$677,000$677,000$677,000$677,000
61$751,261$715,380$704,887$796,398
62$792,139$714,683$692,750$826,513
63$836,061$712,827$679,081$855,037
64$883,302$709,717$663,792$885,342
65$934,163$705,257$646,793$917,600
66$988,975$699,343$627,989$952,003
67$1,048,104$691,864$607,280$988,762
68$1,111,948$682,703$584,562$1,028,112
69$1,180,949$671,738$559,726$1,070,312
70$1,255,588$658,835$532,659$1,115,647
71$1,336,397$643,857$503,243$1,164,437
72$1,423,960$626,657$471,352$1,217,032
73$1,518,919$607,078$436,857$1,273,821
74$1,621,980$584,956$399,623$1,335,233
75$1,733,919$560,116$359,507$1,401,744
76$1,855,590$532,373$316,362$1,473,880
77$1,987,934$501,532$270,034$1,552,223
78$2,131,983$467,388$220,360$1,637,415
79$2,288,876$429,720$167,172$1,730,169
80$2,459,864$388,299$110,295$1,831,269
81$2,646,324$342,880$49,544$1,941,586
82$2,849,774$293,205$0$2,062,080
83$3,071,881$239,003$0$2,195,607
84$3,314,483$179,984$0$2,347,868
85$3,579,603$115,846$0$2,514,363
86$3,869,467$46,267$0$2,696,551
87$4,186,526$0$0$2,896,041
88$4,533,480$0$0$3,122,933
89$4,913,302$0$0$3,385,857
90$5,329,263$0$0$3,673,846
91$5,784,969$0$0$3,989,404
92$6,284,388$0$0$4,335,285
93$6,831,893$0$0$4,714,523
94$7,432,298$0$0$5,130,459
95$8,090,907$0$0$5,586,776
96$8,813,559$0$0$6,087,526
97$9,606,690$0$0$6,637,177
98$10,477,385$0$0$7,240,647
99$11,433,452$0$0$7,903,354
100$12,483,491$0$0$8,631,269