Can I retire at age 61 with 698,000?

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 $698,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.5%
1 years$57,640$57,127$56,626$56,137$55,660$54,402
2 years$28,535$28,003$27,488$26,989$26,505$25,245
3 years$18,834$18,300$17,787$17,292$16,816$15,592
4 years$13,985$13,453$12,944$12,458$11,993$10,816
5 years$11,076$10,547$10,045$9,569$9,117$7,989
6 years$9,137$8,613$8,118$7,652$7,214$6,137
7 years$7,753$7,233$6,746$6,291$5,867$4,841
8 years$6,716$6,200$5,721$5,278$4,867$3,891
9 years$5,909$5,398$4,928$4,495$4,099$3,173
10 years$5,264$4,758$4,296$3,875$3,492$2,615
11 years$4,737$4,236$3,782$3,373$3,004$2,173
12 years$4,298$3,802$3,357$2,958$2,603$1,819
13 years$3,926$3,436$2,999$2,612$2,270$1,530
14 years$3,608$3,123$2,695$2,318$1,990$1,294
15 years$3,333$2,853$2,433$2,067$1,752$1,097
16 years$3,092$2,618$2,206$1,851$1,548$934
17 years$2,880$2,411$2,007$1,663$1,373$797
18 years$2,692$2,228$1,832$1,499$1,221$681
19 years$2,524$2,064$1,677$1,354$1,088$583
20 years$2,372$1,918$1,539$1,227$972$500
21 years$2,236$1,787$1,416$1,113$870$430
22 years$2,111$1,668$1,305$1,012$780$370
23 years$1,998$1,560$1,205$922$700$318
24 years$1,895$1,462$1,114$841$629$274
25 years$1,800$1,372$1,032$768$566$236
26 years$1,712$1,289$957$702$510$204
27 years$1,631$1,213$889$643$460$176
28 years$1,556$1,143$826$589$415$152
29 years$1,486$1,079$769$540$374$131
30 years$1,421$1,019$716$496$338$113
31 years$1,360$963$668$455$306$98
32 years$1,303$911$623$418$277$85
33 years$1,250$863$582$385$250$73
34 years$1,200$818$544$354$227$63
35 years$1,153$776$508$326$205$55
36 years$1,109$736$475$300$186$47
37 years$1,067$699$445$276$169$41
38 years$1,027$664$417$255$153$35
39 years$990$632$390$235$139$31
40 years$954$601$366$217$126$27
41 years$921$572$343$200$114$23
42 years$889$545$322$185$104$20
43 years$858$519$302$170$94$17
44 years$829$495$283$157$85$15
45 years$802$472$266$145$77$13
46 years$775$450$250$134$70$11
47 years$750$430$235$124$64$10
48 years$726$410$221$115$58$8
49 years$703$392$207$106$53$7
50 years$681$374$195$98$48$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $698,000, adding $5,308 every year, while hoping to spend $23,211 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: 50/43/7 Blend
60$698,000$698,000$698,000$698,000
61$774,671$737,677$726,858$811,765
62$828,991$749,127$726,512$849,080
63$888,074$760,360$725,376$886,677
64$952,381$771,341$723,399$926,980
65$1,022,420$782,032$720,528$970,248
66$1,098,748$792,394$716,708$1,016,766
67$1,181,982$802,382$711,879$1,066,849
68$1,272,796$811,951$705,979$1,120,845
69$1,371,937$821,053$698,945$1,179,138
70$1,480,224$829,633$690,709$1,242,151
71$1,598,559$837,638$681,200$1,310,350
72$1,727,936$845,005$670,344$1,384,251
73$1,869,448$851,674$658,063$1,464,423
74$2,024,300$857,574$644,277$1,551,492
75$2,193,819$862,635$628,900$1,646,151
76$2,379,464$866,780$611,844$1,749,164
77$2,582,844$869,927$593,016$1,861,373
78$2,805,730$871,990$572,318$1,983,709
79$3,050,073$872,876$549,649$2,117,196
80$3,318,021$872,487$524,902$2,262,968
81$3,611,940$870,719$497,967$2,422,272
82$3,934,436$867,463$468,727$2,596,488
83$4,288,380$862,601$437,062$2,787,135
84$4,676,935$856,008$402,843$2,995,890
85$5,103,583$847,553$365,939$3,224,604
86$5,572,161$837,096$326,211$3,475,318
87$6,086,897$824,489$283,515$3,750,284
88$6,652,447$809,576$237,699$4,051,986
89$7,273,941$792,189$188,606$4,383,165
90$7,957,030$772,153$136,071$4,746,842
91$8,707,939$749,281$79,922$5,146,352
92$9,533,530$723,376$19,980$5,585,374
93$10,441,358$694,230$0$6,067,962
94$11,439,750$661,620$0$6,601,877
95$12,537,879$625,315$0$7,190,574
96$13,745,852$585,065$0$7,838,016
97$15,074,806$540,610$0$8,550,222
98$16,537,010$491,673$0$9,333,827
99$18,145,982$437,962$0$10,196,149
100$19,916,619$379,169$0$11,145,255