Can I retire at age 61 with 688,000?

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 $688,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.4%
1 years$56,814$56,308$55,815$55,333$54,862$52,790
2 years$28,126$27,602$27,094$26,602$26,125$24,061
3 years$18,564$18,038$17,532$17,044$16,575$14,584
4 years$13,785$13,260$12,759$12,279$11,821$9,919
5 years$10,917$10,396$9,901$9,432$8,986$7,178
6 years$9,007$8,489$8,002$7,543$7,111$5,397
7 years$7,642$7,129$6,649$6,201$5,783$4,164
8 years$6,619$6,111$5,639$5,202$4,797$3,271
9 years$5,824$5,321$4,857$4,431$4,040$2,604
10 years$5,189$4,690$4,235$3,820$3,442$2,095
11 years$4,669$4,175$3,728$3,324$2,961$1,698
12 years$4,236$3,747$3,309$2,916$2,566$1,385
13 years$3,870$3,387$2,956$2,574$2,237$1,135
14 years$3,557$3,078$2,656$2,285$1,961$934
15 years$3,285$2,812$2,398$2,038$1,727$771
16 years$3,048$2,580$2,174$1,825$1,526$638
17 years$2,839$2,376$1,978$1,639$1,353$529
18 years$2,653$2,196$1,806$1,477$1,203$439
19 years$2,487$2,035$1,653$1,335$1,072$365
20 years$2,338$1,891$1,517$1,209$958$304
21 years$2,204$1,761$1,396$1,097$857$253
22 years$2,081$1,644$1,286$998$768$211
23 years$1,970$1,538$1,188$909$690$176
24 years$1,868$1,441$1,098$829$620$147
25 years$1,774$1,352$1,017$757$558$123
26 years$1,687$1,271$944$692$502$103
27 years$1,607$1,196$876$633$453$86
28 years$1,533$1,127$814$580$409$72
29 years$1,465$1,063$758$532$369$60
30 years$1,400$1,004$706$488$334$50
31 years$1,341$949$658$449$302$42
32 years$1,285$898$614$412$273$35
33 years$1,232$850$573$379$247$30
34 years$1,183$806$536$349$223$25
35 years$1,136$765$501$321$202$21
36 years$1,093$726$469$296$183$17
37 years$1,051$689$439$272$166$15
38 years$1,012$655$411$251$151$12
39 years$976$623$385$232$137$10
40 years$941$593$361$214$124$9
41 years$907$564$338$197$112$7
42 years$876$537$317$182$102$6
43 years$846$512$298$168$93$5
44 years$817$488$279$155$84$4
45 years$790$465$262$143$76$4
46 years$764$444$246$132$69$3
47 years$740$424$232$122$63$2
48 years$716$404$218$113$57$2
49 years$693$386$204$104$52$2
50 years$672$369$192$96$47$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $688,000, adding $6,157 every year, while hoping to spend $50,875 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: 24/46/30 Blend
60$688,000$688,000$688,000$688,000
61$764,527$728,063$717,399$775,589
62$788,378$709,607$687,301$767,111
63$812,957$688,542$654,490$753,371
64$838,284$664,687$618,821$737,600
65$864,380$637,847$580,143$719,662
66$891,267$607,822$538,297$699,417
67$918,966$574,395$493,120$676,716
68$947,498$537,338$444,438$651,401
69$976,888$496,412$392,071$623,306
70$1,007,156$451,363$335,831$592,257
71$1,038,327$401,920$275,522$558,069
72$1,070,423$347,801$210,939$520,547
73$1,103,468$288,704$141,867$479,488
74$1,137,484$224,314$68,083$434,674
75$1,172,497$154,295$0$385,877
76$1,208,529$78,292$0$336,271
77$1,245,604$0$0$305,670
78$1,283,746$0$0$274,130
79$1,322,977$0$0$282,446
80$1,363,321$0$0$290,991
81$1,404,801$0$0$299,770
82$1,447,437$0$0$308,786
83$1,491,252$0$0$318,042
84$1,536,266$0$0$327,542
85$1,582,497$0$0$337,288
86$1,629,964$0$0$347,282
87$1,678,684$0$0$357,528
88$1,728,671$0$0$368,025
89$1,779,937$0$0$378,775
90$1,832,493$0$0$389,777
91$1,886,346$0$0$401,032
92$1,941,501$0$0$412,536
93$1,997,958$0$0$424,288
94$2,055,715$0$0$436,283
95$2,114,762$0$0$448,517
96$2,175,087$0$0$460,981
97$2,236,671$0$0$473,669
98$2,299,487$0$0$486,570
99$2,363,504$0$0$499,670
100$2,428,678$0$0$512,956