Can I retire at age 61 with 701,000?

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 $701,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.7%
1 years$57,888$57,372$56,869$56,378$55,899$53,937
2 years$28,657$28,124$27,606$27,105$26,618$24,662
3 years$18,915$18,379$17,863$17,366$16,888$14,999
4 years$14,045$13,511$13,000$12,511$12,045$10,238
5 years$11,124$10,592$10,088$9,610$9,156$7,436
6 years$9,177$8,650$8,153$7,685$7,245$5,613
7 years$7,787$7,264$6,775$6,318$5,892$4,347
8 years$6,745$6,226$5,746$5,300$4,888$3,430
9 years$5,934$5,421$4,949$4,515$4,116$2,742
10 years$5,287$4,779$4,315$3,892$3,507$2,215
11 years$4,757$4,254$3,798$3,387$3,016$1,804
12 years$4,316$3,818$3,371$2,971$2,614$1,478
13 years$3,943$3,451$3,012$2,623$2,279$1,217
14 years$3,624$3,136$2,706$2,328$1,998$1,006
15 years$3,347$2,865$2,443$2,076$1,759$835
16 years$3,106$2,629$2,215$1,859$1,555$694
17 years$2,893$2,421$2,016$1,670$1,379$578
18 years$2,703$2,237$1,840$1,505$1,226$483
19 years$2,534$2,073$1,685$1,360$1,093$404
20 years$2,382$1,927$1,546$1,232$976$338
21 years$2,245$1,795$1,422$1,118$873$283
22 years$2,121$1,675$1,311$1,017$783$238
23 years$2,007$1,567$1,210$926$703$199
24 years$1,903$1,468$1,119$844$632$168
25 years$1,807$1,378$1,037$771$568$141
26 years$1,719$1,295$961$705$512$118
27 years$1,638$1,219$893$645$462$99
28 years$1,562$1,148$830$591$417$84
29 years$1,492$1,083$772$542$376$70
30 years$1,427$1,023$719$498$340$59
31 years$1,366$967$671$457$307$50
32 years$1,309$915$626$420$278$42
33 years$1,255$867$584$386$252$35
34 years$1,205$821$546$355$228$30
35 years$1,158$779$510$327$206$25
36 years$1,113$739$477$301$187$21
37 years$1,071$702$447$278$169$18
38 years$1,032$667$418$256$154$15
39 years$994$635$392$236$139$13
40 years$958$604$367$218$126$11
41 years$925$575$345$201$115$9
42 years$892$547$323$185$104$8
43 years$862$522$303$171$94$6
44 years$833$497$285$158$86$5
45 years$805$474$267$146$78$5
46 years$779$452$251$135$71$4
47 years$754$432$236$124$64$3
48 years$729$412$222$115$58$3
49 years$706$393$208$106$53$2
50 years$684$376$196$98$48$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $701,000, adding $6,585 every year, while hoping to spend $44,863 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: 46/27/27 Blend
60$701,000$701,000$701,000$701,000
61$779,294$742,141$731,276$808,826
62$811,049$730,772$708,040$818,991
63$844,538$717,343$682,522$825,147
64$879,892$701,704$654,598$830,955
65$917,253$683,699$624,138$836,406
66$956,774$663,162$591,008$841,493
67$998,625$639,916$555,066$846,212
68$1,042,988$613,776$516,165$850,563
69$1,090,065$584,543$474,148$854,548
70$1,140,075$552,009$428,856$858,176
71$1,193,260$515,955$380,120$861,458
72$1,249,882$476,146$327,763$864,414
73$1,310,229$432,336$271,602$867,067
74$1,374,616$384,264$211,445$869,450
75$1,443,389$331,656$147,091$871,606
76$1,516,927$274,219$78,330$873,584
77$1,595,645$211,647$4,945$875,448
78$1,679,997$143,614$0$877,273
79$1,770,484$69,778$0$900,286
80$1,867,653$0$0$926,349
81$1,972,105$0$0$957,271
82$2,084,501$0$0$1,012,910
83$2,205,565$0$0$1,072,901
84$2,336,094$0$0$1,137,647
85$2,476,962$0$0$1,207,589
86$2,629,130$0$0$1,283,213
87$2,793,655$0$0$1,365,053
88$2,971,695$0$0$1,453,696
89$3,164,528$0$0$1,549,786
90$3,373,557$0$0$1,654,034
91$3,600,323$0$0$1,767,219
92$3,846,522$0$0$1,890,200
93$4,114,022$0$0$2,023,921
94$4,404,874$0$0$2,169,421
95$4,721,337$0$0$2,327,842
96$5,065,894$0$0$2,500,442
97$5,441,280$0$0$2,688,604
98$5,850,504$0$0$2,893,853
99$6,296,876$0$0$3,117,863
100$6,784,041$0$0$3,362,481