Can I retire at age 61 with 687,000?

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 $687,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$56,732$56,226$55,733$55,252$54,782$54,346
2 years$28,085$27,562$27,055$26,564$26,087$25,647
3 years$18,537$18,012$17,506$17,020$16,551$16,121
4 years$13,764$13,241$12,740$12,262$11,804$11,388
5 years$10,901$10,381$9,887$9,418$8,973$8,572
6 years$8,993$8,477$7,990$7,532$7,100$6,714
7 years$7,631$7,119$6,640$6,192$5,774$5,403
8 years$6,610$6,102$5,631$5,195$4,790$4,435
9 years$5,816$5,313$4,850$4,425$4,034$3,694
10 years$5,181$4,683$4,228$3,814$3,437$3,112
11 years$4,662$4,169$3,723$3,319$2,956$2,646
12 years$4,230$3,742$3,304$2,912$2,562$2,266
13 years$3,864$3,382$2,952$2,570$2,234$1,952
14 years$3,552$3,074$2,652$2,282$1,958$1,690
15 years$3,281$2,808$2,394$2,035$1,724$1,470
16 years$3,044$2,576$2,171$1,822$1,524$1,282
17 years$2,835$2,373$1,975$1,637$1,351$1,122
18 years$2,649$2,192$1,803$1,475$1,201$985
19 years$2,484$2,032$1,651$1,333$1,071$866
20 years$2,335$1,888$1,515$1,207$956$763
21 years$2,200$1,759$1,394$1,096$856$673
22 years$2,078$1,642$1,284$996$767$595
23 years$1,967$1,535$1,186$907$689$527
24 years$1,865$1,439$1,097$828$619$467
25 years$1,771$1,350$1,016$756$557$414
26 years$1,685$1,269$942$691$502$367
27 years$1,605$1,194$875$633$452$326
28 years$1,531$1,125$813$580$408$290
29 years$1,462$1,062$757$531$369$258
30 years$1,398$1,003$705$488$333$230
31 years$1,339$948$657$448$301$204
32 years$1,283$897$613$412$272$182
33 years$1,230$849$573$379$246$162
34 years$1,181$805$535$348$223$145
35 years$1,135$763$500$321$202$129
36 years$1,091$725$468$295$183$115
37 years$1,050$688$438$272$166$103
38 years$1,011$654$410$251$150$91
39 years$974$622$384$231$136$82
40 years$939$592$360$213$124$73
41 years$906$563$338$197$112$65
42 years$875$536$317$182$102$58
43 years$845$511$297$168$92$52
44 years$816$487$279$155$84$46
45 years$789$465$262$143$76$41
46 years$763$443$246$132$69$37
47 years$739$423$231$122$63$33
48 years$715$404$217$113$57$29
49 years$692$386$204$104$52$26
50 years$671$368$192$96$47$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $687,000, adding $6,549 every year, while hoping to spend $54,605 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: 44/44/12 Blend
60$687,000$687,000$687,000$687,000
61$763,829$727,418$716,770$794,531
62$783,641$704,962$682,682$794,114
63$803,642$679,576$645,623$787,628
64$823,797$651,058$605,434$779,387
65$844,060$619,196$561,951$769,250
66$864,381$583,763$515,004$757,068
67$884,703$544,523$464,412$742,681
68$904,960$501,222$409,987$725,919
69$925,080$453,596$351,536$706,598
70$944,978$401,362$288,852$684,523
71$964,560$344,223$221,722$659,485
72$983,720$281,864$149,925$631,259
73$1,002,338$213,955$73,227$599,606
74$1,020,282$140,144$0$564,270
75$1,037,400$60,061$0$526,079
76$1,053,526$0$0$493,713
77$1,068,471$0$0$470,424
78$1,082,027$0$0$475,496
79$1,093,959$0$0$479,733
80$1,104,007$0$0$483,008
81$1,111,882$0$0$485,179
82$1,117,261$0$0$486,088
83$1,119,786$0$0$485,559
84$1,119,059$0$0$483,398
85$1,114,636$0$0$479,388
86$1,106,027$0$0$473,290
87$1,092,687$0$0$464,838
88$1,074,013$0$0$453,736
89$1,049,336$0$0$439,659
90$1,017,913$0$0$422,244
91$978,923$0$0$401,093
92$931,458$0$0$375,760
93$874,511$0$0$345,758
94$806,969$0$0$310,542
95$727,600$0$0$269,514
96$635,043$0$0$222,012
97$527,791$0$0$167,301
98$404,181$0$0$104,574
99$262,373$0$0$32,935
100$100,335$0$0$0