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%15.2%
1 years$57,475$56,963$56,464$55,976$55,500$54,313
2 years$28,453$27,923$27,410$26,912$26,429$25,238
3 years$18,780$18,248$17,736$17,243$16,767$15,611
4 years$13,945$13,414$12,907$12,422$11,959$10,845
5 years$11,044$10,517$10,016$9,541$9,091$8,024
6 years$9,111$8,588$8,095$7,630$7,193$6,173
7 years$7,731$7,212$6,727$6,273$5,850$4,878
8 years$6,696$6,182$5,705$5,263$4,853$3,928
9 years$5,892$5,383$4,914$4,483$4,087$3,208
10 years$5,249$4,745$4,284$3,864$3,482$2,649
11 years$4,723$4,224$3,771$3,363$2,995$2,206
12 years$4,285$3,791$3,347$2,950$2,595$1,850
13 years$3,915$3,426$2,990$2,604$2,263$1,560
14 years$3,598$3,114$2,687$2,312$1,984$1,321
15 years$3,324$2,845$2,426$2,062$1,747$1,123
16 years$3,084$2,610$2,199$1,846$1,544$958
17 years$2,872$2,404$2,001$1,659$1,369$819
18 years$2,684$2,221$1,827$1,495$1,217$701
19 years$2,516$2,059$1,673$1,351$1,085$602
20 years$2,365$1,913$1,535$1,223$969$518
21 years$2,229$1,782$1,412$1,110$867$446
22 years$2,105$1,663$1,301$1,009$777$384
23 years$1,993$1,556$1,201$919$698$331
24 years$1,889$1,458$1,111$838$627$286
25 years$1,794$1,368$1,029$766$564$247
26 years$1,707$1,286$954$700$508$214
27 years$1,626$1,210$886$641$458$185
28 years$1,551$1,140$824$587$414$160
29 years$1,482$1,075$767$538$373$139
30 years$1,417$1,016$714$494$337$120
31 years$1,356$960$666$454$305$104
32 years$1,300$908$621$417$276$90
33 years$1,246$860$580$384$250$78
34 years$1,197$815$542$353$226$68
35 years$1,150$773$507$325$205$59
36 years$1,105$734$474$299$186$51
37 years$1,064$697$444$276$168$44
38 years$1,024$663$415$254$152$38
39 years$987$630$389$234$138$33
40 years$952$599$365$216$125$29
41 years$918$571$342$199$114$25
42 years$886$543$321$184$103$22
43 years$856$518$301$170$94$19
44 years$827$494$283$157$85$16
45 years$799$471$265$145$77$14
46 years$773$449$249$134$70$12
47 years$748$428$234$124$64$11
48 years$724$409$220$114$58$9
49 years$701$391$207$106$52$8
50 years$680$373$194$98$48$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $696,000, adding $3,266 every year, while hoping to spend $52,783 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: 48/29/23 Blend
60$696,000$696,000$696,000$696,000
61$770,361$733,473$722,685$802,167
62$792,777$713,252$690,734$804,497
63$815,710$690,272$655,944$801,493
64$839,158$664,341$618,164$797,156
65$863,116$635,257$577,235$791,385
66$887,575$602,806$532,994$784,073
67$912,527$566,762$485,268$775,104
68$937,958$526,887$433,878$764,356
69$963,851$482,926$378,635$751,699
70$990,188$434,614$319,344$736,995
71$1,016,945$381,667$255,799$720,097
72$1,044,091$323,787$187,786$700,847
73$1,071,595$260,659$115,083$679,080
74$1,099,415$191,948$37,456$654,618
75$1,127,506$117,305$0$627,271
76$1,155,815$36,356$0$607,977
77$1,184,281$0$0$595,915
78$1,212,833$0$0$598,090
79$1,241,392$0$0$611,827
80$1,269,867$0$0$625,477
81$1,298,154$0$0$638,984
82$1,326,138$0$0$652,284
83$1,353,687$0$0$665,307
84$1,380,652$0$0$677,972
85$1,406,868$0$0$690,191
86$1,432,147$0$0$701,862
87$1,456,282$0$0$712,874
88$1,479,036$0$0$723,101
89$1,500,150$0$0$732,402
90$1,519,329$0$0$740,623
91$1,536,250$0$0$747,587
92$1,550,548$0$0$753,102
93$1,561,818$0$0$756,950
94$1,569,611$0$0$758,893
95$1,573,426$0$0$758,663
96$1,572,708$0$0$755,964
97$1,566,838$0$0$750,467
98$1,555,132$0$0$741,808
99$1,536,828$0$0$729,581
100$1,511,084$0$0$713,338