Can I retire at age 61 with 707,000?

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 $707,000?

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$58,383$57,863$57,356$56,861$56,377$55,104
2 years$28,903$28,364$27,843$27,337$26,846$25,570
3 years$19,077$18,536$18,016$17,515$17,032$15,793
4 years$14,165$13,626$13,111$12,619$12,148$10,955
5 years$11,219$10,683$10,175$9,692$9,234$8,092
6 years$9,255$8,724$8,223$7,751$7,307$6,216
7 years$7,853$7,326$6,833$6,373$5,942$4,903
8 years$6,802$6,280$5,795$5,346$4,930$3,941
9 years$5,985$5,468$4,991$4,553$4,152$3,213
10 years$5,332$4,819$4,351$3,925$3,537$2,648
11 years$4,798$4,291$3,831$3,416$3,042$2,201
12 years$4,353$3,851$3,400$2,996$2,636$1,842
13 years$3,977$3,480$3,038$2,645$2,299$1,550
14 years$3,655$3,163$2,729$2,348$2,015$1,310
15 years$3,376$2,890$2,464$2,094$1,774$1,112
16 years$3,132$2,651$2,234$1,875$1,568$946
17 years$2,917$2,442$2,033$1,685$1,390$807
18 years$2,727$2,256$1,856$1,518$1,236$690
19 years$2,556$2,091$1,699$1,372$1,102$591
20 years$2,403$1,943$1,559$1,243$984$507
21 years$2,264$1,810$1,434$1,128$881$435
22 years$2,139$1,690$1,322$1,025$790$374
23 years$2,024$1,580$1,220$934$709$322
24 years$1,919$1,481$1,129$852$637$278
25 years$1,823$1,389$1,045$778$573$239
26 years$1,734$1,306$970$711$516$206
27 years$1,652$1,229$900$651$466$178
28 years$1,576$1,158$837$596$420$154
29 years$1,505$1,092$779$547$379$133
30 years$1,439$1,032$725$502$343$115
31 years$1,378$975$676$461$310$99
32 years$1,320$923$631$424$280$86
33 years$1,266$874$589$390$254$74
34 years$1,215$828$551$358$230$64
35 years$1,168$786$515$330$208$55
36 years$1,123$746$481$304$188$48
37 years$1,080$708$451$280$171$42
38 years$1,040$673$422$258$155$36
39 years$1,003$640$395$238$140$31
40 years$967$609$371$219$127$27
41 years$932$580$348$203$116$23
42 years$900$552$326$187$105$20
43 years$869$526$306$173$95$17
44 years$840$501$287$159$86$15
45 years$812$478$270$147$78$13
46 years$785$456$253$136$71$11
47 years$760$435$238$126$65$10
48 years$736$415$224$116$59$8
49 years$713$397$210$107$53$7
50 years$690$379$198$99$48$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $707,000, adding $6,916 every year, while hoping to spend $45,622 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: 63/10/27 Blend
60$707,000$707,000$707,000$707,000
61$786,248$748,777$737,818$829,734
62$817,904$736,925$713,994$848,174
63$851,259$722,964$687,842$862,689
64$886,440$706,742$659,237$877,553
65$923,582$688,098$628,047$892,807
66$962,835$666,862$594,134$908,499
67$1,004,360$642,854$557,353$924,682
68$1,048,336$615,884$517,555$941,418
69$1,094,955$585,752$474,582$958,775
70$1,144,429$552,243$428,270$976,834
71$1,196,991$515,132$378,446$995,682
72$1,252,892$474,181$324,932$1,015,421
73$1,312,410$429,139$267,541$1,036,166
74$1,375,848$379,739$206,076$1,058,043
75$1,443,538$325,700$140,333$1,081,197
76$1,515,844$266,725$70,100$1,105,791
77$1,593,165$202,500$0$1,132,006
78$1,675,938$132,693$0$1,161,444
79$1,764,643$56,953$0$1,214,578
80$1,859,805$0$0$1,271,519
81$1,962,001$0$0$1,335,385
82$2,071,864$0$0$1,410,816
83$2,190,091$0$0$1,492,027
84$2,317,444$0$0$1,579,546
85$2,454,761$0$0$1,673,956
86$2,602,965$0$0$1,775,893
87$2,763,067$0$0$1,886,062
88$2,936,179$0$0$2,005,231
89$3,123,523$0$0$2,134,250
90$3,326,445$0$0$2,274,050
91$3,546,420$0$0$2,425,656
92$3,785,074$0$0$2,590,195
93$4,044,194$0$0$2,768,906
94$4,325,745$0$0$2,963,153
95$4,631,889$0$0$3,174,435
96$4,965,005$0$0$3,404,403
97$5,327,709$0$0$3,654,872
98$5,722,882$0$0$3,927,841
99$6,153,692$0$0$4,225,507
100$6,623,628$0$0$4,550,292