Can I retire at age 61 with 696,000?

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 $696,000?

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$57,475$56,963$56,464$55,976$55,500$54,581
2 years$28,453$27,923$27,410$26,912$26,429$25,505
3 years$18,780$18,248$17,736$17,243$16,767$15,868
4 years$13,945$13,414$12,907$12,422$11,959$11,091
5 years$11,044$10,517$10,016$9,541$9,091$8,257
6 years$9,111$8,588$8,095$7,630$7,193$6,395
7 years$7,731$7,212$6,727$6,273$5,850$5,086
8 years$6,696$6,182$5,705$5,263$4,853$4,125
9 years$5,892$5,383$4,914$4,483$4,087$3,393
10 years$5,249$4,745$4,284$3,864$3,482$2,823
11 years$4,723$4,224$3,771$3,363$2,995$2,368
12 years$4,285$3,791$3,347$2,950$2,595$2,001
13 years$3,915$3,426$2,990$2,604$2,263$1,701
14 years$3,598$3,114$2,687$2,312$1,984$1,452
15 years$3,324$2,845$2,426$2,062$1,747$1,245
16 years$3,084$2,610$2,199$1,846$1,544$1,071
17 years$2,872$2,404$2,001$1,659$1,369$923
18 years$2,684$2,221$1,827$1,495$1,217$798
19 years$2,516$2,059$1,673$1,351$1,085$691
20 years$2,365$1,913$1,535$1,223$969$600
21 years$2,229$1,782$1,412$1,110$867$521
22 years$2,105$1,663$1,301$1,009$777$453
23 years$1,993$1,556$1,201$919$698$395
24 years$1,889$1,458$1,111$838$627$344
25 years$1,794$1,368$1,029$766$564$300
26 years$1,707$1,286$954$700$508$262
27 years$1,626$1,210$886$641$458$229
28 years$1,551$1,140$824$587$414$200
29 years$1,482$1,075$767$538$373$175
30 years$1,417$1,016$714$494$337$153
31 years$1,356$960$666$454$305$134
32 years$1,300$908$621$417$276$117
33 years$1,246$860$580$384$250$103
34 years$1,197$815$542$353$226$90
35 years$1,150$773$507$325$205$79
36 years$1,105$734$474$299$186$69
37 years$1,064$697$444$276$168$60
38 years$1,024$663$415$254$152$53
39 years$987$630$389$234$138$46
40 years$952$599$365$216$125$41
41 years$918$571$342$199$114$36
42 years$886$543$321$184$103$31
43 years$856$518$301$170$94$27
44 years$827$494$283$157$85$24
45 years$799$471$265$145$77$21
46 years$773$449$249$134$70$18
47 years$748$428$234$124$64$16
48 years$724$409$220$114$58$14
49 years$701$391$207$106$52$12
50 years$680$373$194$98$48$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $696,000, adding $6,444 every year, while hoping to spend $51,569 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: 46/39/15 Blend
60$696,000$696,000$696,000$696,000
61$773,639$736,751$725,963$805,655
62$797,681$717,983$695,414$809,800
63$822,447$696,567$662,113$808,553
64$847,957$672,318$625,913$806,079
65$874,229$645,042$586,662$802,284
66$901,284$614,533$544,199$797,069
67$929,143$580,573$498,357$790,330
68$957,824$542,930$448,961$781,955
69$987,349$501,361$395,828$771,826
70$1,017,738$455,607$338,768$759,819
71$1,049,012$405,396$277,582$745,803
72$1,081,191$350,440$212,060$729,637
73$1,114,296$290,435$141,987$711,174
74$1,148,346$225,058$67,136$690,257
75$1,183,361$153,970$0$666,721
76$1,219,361$76,812$0$642,431
77$1,256,365$0$0$626,760
78$1,294,392$0$0$611,715
79$1,333,458$0$0$630,119
80$1,373,581$0$0$649,014
81$1,414,776$0$0$668,407
82$1,457,056$0$0$688,304
83$1,500,436$0$0$708,709
84$1,544,926$0$0$729,627
85$1,590,533$0$0$751,061
86$1,637,266$0$0$773,011
87$1,685,127$0$0$795,479
88$1,734,117$0$0$818,462
89$1,784,233$0$0$841,958
90$1,835,467$0$0$865,961
91$1,887,809$0$0$890,463
92$1,941,241$0$0$915,454
93$1,995,740$0$0$940,920
94$2,051,278$0$0$966,844
95$2,107,818$0$0$993,206
96$2,165,315$0$0$1,019,981
97$2,223,716$0$0$1,047,139
98$2,282,956$0$0$1,074,646
99$2,342,959$0$0$1,102,460
100$2,403,639$0$0$1,130,535