Can I retire at age 61 with 697,000?

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 $697,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$57,558$57,045$56,545$56,056$55,580$54,592
2 years$28,494$27,963$27,449$26,950$26,467$25,474
3 years$18,807$18,274$17,761$17,267$16,791$15,826
4 years$13,965$13,434$12,926$12,440$11,976$11,045
5 years$11,060$10,532$10,031$9,555$9,104$8,210
6 years$9,124$8,600$8,106$7,641$7,204$6,348
7 years$7,742$7,222$6,736$6,282$5,858$5,041
8 years$6,706$6,191$5,713$5,270$4,860$4,080
9 years$5,901$5,390$4,921$4,489$4,093$3,351
10 years$5,257$4,751$4,290$3,870$3,487$2,782
11 years$4,730$4,230$3,777$3,368$2,999$2,330
12 years$4,291$3,796$3,352$2,954$2,599$1,965
13 years$3,921$3,431$2,995$2,608$2,266$1,667
14 years$3,603$3,119$2,691$2,315$1,987$1,420
15 years$3,328$2,849$2,429$2,065$1,749$1,215
16 years$3,088$2,614$2,203$1,849$1,546$1,043
17 years$2,876$2,407$2,004$1,661$1,371$897
18 years$2,688$2,224$1,830$1,497$1,219$774
19 years$2,520$2,062$1,675$1,353$1,086$669
20 years$2,369$1,916$1,537$1,225$970$579
21 years$2,232$1,784$1,414$1,112$868$502
22 years$2,108$1,666$1,303$1,011$778$436
23 years$1,995$1,558$1,203$921$699$378
24 years$1,892$1,460$1,113$840$628$329
25 years$1,797$1,370$1,031$767$565$286
26 years$1,709$1,287$956$701$509$249
27 years$1,628$1,212$888$642$459$217
28 years$1,553$1,142$825$588$414$189
29 years$1,484$1,077$768$539$374$165
30 years$1,419$1,017$715$495$338$144
31 years$1,358$962$667$454$305$126
32 years$1,301$910$622$418$276$110
33 years$1,248$862$581$384$250$96
34 years$1,198$817$543$353$226$84
35 years$1,151$775$507$325$205$73
36 years$1,107$735$475$300$186$64
37 years$1,065$698$444$276$168$56
38 years$1,026$664$416$254$153$49
39 years$988$631$390$235$138$43
40 years$953$600$365$216$126$37
41 years$919$571$343$200$114$33
42 years$887$544$321$184$103$29
43 years$857$519$302$170$94$25
44 years$828$494$283$157$85$22
45 years$801$471$266$145$77$19
46 years$774$450$250$134$70$17
47 years$749$429$235$124$64$15
48 years$725$410$220$114$58$13
49 years$702$391$207$106$53$11
50 years$681$374$195$98$48$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $697,000, adding $2,849 every year, while hoping to spend $42,563 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: 55/34/11 Blend
60$697,000$697,000$697,000$697,000
61$771,033$734,092$723,288$811,146
62$804,391$724,776$702,232$829,335
63$839,726$713,576$679,043$844,230
64$877,193$700,357$653,606$859,445
65$916,965$684,972$625,800$875,018
66$959,227$667,267$595,496$890,993
67$1,004,185$647,080$562,562$907,422
68$1,052,063$624,238$526,859$924,362
69$1,103,106$598,559$488,241$941,882
70$1,157,583$569,849$446,558$960,057
71$1,215,789$537,903$401,650$978,976
72$1,278,046$502,507$353,351$998,739
73$1,344,707$463,431$301,490$1,019,459
74$1,416,162$420,433$245,884$1,041,264
75$1,492,835$373,259$186,346$1,064,300
76$1,575,195$321,639$122,678$1,088,732
77$1,663,752$265,287$54,676$1,114,746
78$1,759,071$203,902$0$1,142,551
79$1,861,769$137,167$0$1,174,483
80$1,972,526$64,744$0$1,215,692
81$2,092,087$0$0$1,260,080
82$2,221,271$0$0$1,313,143
83$2,360,980$0$0$1,396,776
84$2,512,203$0$0$1,487,354
85$2,676,028$0$0$1,585,537
86$2,853,653$0$0$1,692,048
87$3,046,392$0$0$1,807,684
88$3,255,693$0$0$1,933,322
89$3,483,147$0$0$2,069,923
90$3,730,506$0$0$2,218,550
91$3,999,697$0$0$2,380,367
92$4,292,838$0$0$2,556,658
93$4,612,262$0$0$2,748,837
94$4,960,537$0$0$2,958,456
95$5,340,487$0$0$3,187,228
96$5,755,222$0$0$3,437,036
97$6,208,166$0$0$3,709,952
98$6,703,086$0$0$4,008,259
99$7,244,131$0$0$4,334,470
100$7,835,868$0$0$4,691,352