Can I retire at age 61 with 706,000?

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 $706,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.1%
1 years$58,301$57,782$57,275$56,780$56,297$54,235
2 years$28,862$28,324$27,803$27,298$26,808$24,754
3 years$19,050$18,510$17,991$17,490$17,008$15,026
4 years$14,145$13,607$13,093$12,601$12,130$10,235
5 years$11,203$10,668$10,160$9,679$9,221$7,418
6 years$9,242$8,711$8,211$7,740$7,297$5,587
7 years$7,842$7,316$6,823$6,364$5,934$4,318
8 years$6,793$6,271$5,787$5,338$4,923$3,398
9 years$5,977$5,460$4,984$4,547$4,146$2,711
10 years$5,324$4,813$4,345$3,920$3,532$2,184
11 years$4,791$4,284$3,826$3,411$3,038$1,774
12 years$4,347$3,845$3,395$2,992$2,633$1,450
13 years$3,971$3,475$3,033$2,642$2,296$1,190
14 years$3,650$3,159$2,725$2,345$2,012$981
15 years$3,371$2,886$2,461$2,091$1,772$812
16 years$3,128$2,648$2,231$1,872$1,566$673
17 years$2,913$2,438$2,030$1,682$1,389$559
18 years$2,723$2,253$1,853$1,516$1,235$466
19 years$2,553$2,088$1,697$1,370$1,100$388
20 years$2,399$1,940$1,557$1,241$983$324
21 years$2,261$1,807$1,432$1,126$880$271
22 years$2,136$1,687$1,320$1,024$788$226
23 years$2,021$1,578$1,219$932$708$189
24 years$1,916$1,478$1,127$850$636$158
25 years$1,820$1,387$1,044$777$572$133
26 years$1,731$1,304$968$710$516$111
27 years$1,650$1,227$899$650$465$93
28 years$1,574$1,156$836$596$419$78
29 years$1,503$1,091$778$546$379$66
30 years$1,437$1,030$724$501$342$55
31 years$1,376$974$675$460$309$46
32 years$1,318$922$630$423$280$39
33 years$1,264$873$588$389$253$32
34 years$1,214$827$550$358$229$27
35 years$1,166$785$514$330$208$23
36 years$1,121$745$481$303$188$19
37 years$1,079$707$450$280$171$16
38 years$1,039$672$421$258$155$14
39 years$1,001$639$395$238$140$11
40 years$965$608$370$219$127$10
41 years$931$579$347$202$115$8
42 years$899$551$326$187$105$7
43 years$868$525$305$172$95$6
44 years$839$501$287$159$86$5
45 years$811$477$269$147$78$4
46 years$784$455$253$136$71$3
47 years$759$435$238$125$65$3
48 years$735$415$223$116$59$2
49 years$712$396$210$107$53$2
50 years$689$378$197$99$48$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $706,000, adding $2,641 every year, while hoping to spend $22,646 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: 34/45/21 Blend
60$706,000$706,000$706,000$706,000
61$780,736$743,318$732,375$802,187
62$836,276$755,646$732,815$830,621
63$896,722$767,818$732,510$858,997
64$962,551$779,804$731,412$889,132
65$1,034,286$791,570$729,469$921,194
66$1,112,506$803,079$726,629$955,370
67$1,197,844$814,293$722,834$991,870
68$1,291,001$825,170$718,026$1,030,921
69$1,392,746$835,666$712,142$1,072,779
70$1,503,926$845,733$705,119$1,117,724
71$1,625,473$855,321$696,887$1,166,067
72$1,758,415$864,375$687,376$1,218,151
73$1,903,881$872,838$676,512$1,274,357
74$2,063,118$880,648$664,216$1,335,106
75$2,237,496$887,739$650,406$1,400,863
76$2,428,524$894,042$634,999$1,472,141
77$2,637,866$899,483$617,903$1,549,509
78$2,867,351$903,981$599,027$1,633,597
79$3,118,998$907,453$578,271$1,725,097
80$3,395,027$909,809$555,534$1,824,779
81$3,697,884$910,954$530,708$1,933,491
82$4,030,264$910,787$503,683$2,052,170
83$4,395,136$909,200$474,342$2,181,853
84$4,795,769$906,080$442,561$2,323,685
85$5,235,765$901,305$408,215$2,478,930
86$5,719,092$894,748$371,168$2,648,986
87$6,250,120$886,271$331,283$2,835,396
88$6,833,665$875,731$288,414$3,039,864
89$7,475,032$862,975$242,409$3,264,273
90$8,180,064$847,840$193,109$3,510,702
91$8,955,201$830,155$140,349$3,781,447
92$9,807,537$809,737$83,955$4,079,041
93$10,744,886$786,395$23,748$4,406,284
94$11,775,859$759,923$0$4,766,264
95$12,909,945$730,107$0$5,171,468
96$14,157,594$696,718$0$5,622,852
97$15,530,326$659,514$0$6,119,291
98$17,040,828$618,239$0$6,665,418
99$18,703,084$572,624$0$7,266,344
100$20,532,499$522,383$0$7,927,707