Can I retire at age 61 with 708,000?

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 $708,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$58,466$57,945$57,437$56,941$56,457$55,567
2 years$28,944$28,405$27,882$27,376$26,884$25,990
3 years$19,104$18,563$18,042$17,540$17,056$16,186
4 years$14,185$13,646$13,130$12,636$12,165$11,325
5 years$11,235$10,698$10,189$9,706$9,248$8,440
6 years$9,268$8,736$8,234$7,762$7,317$6,543
7 years$7,864$7,336$6,843$6,382$5,951$5,211
8 years$6,812$6,289$5,803$5,353$4,937$4,230
9 years$5,994$5,475$4,998$4,560$4,158$3,484
10 years$5,339$4,826$4,358$3,931$3,542$2,902
11 years$4,805$4,297$3,836$3,421$3,047$2,438
12 years$4,359$3,856$3,405$3,001$2,640$2,063
13 years$3,983$3,485$3,042$2,649$2,302$1,755
14 years$3,660$3,168$2,733$2,351$2,018$1,501
15 years$3,381$2,894$2,468$2,097$1,777$1,288
16 years$3,137$2,655$2,237$1,878$1,570$1,109
17 years$2,922$2,445$2,036$1,687$1,392$958
18 years$2,730$2,259$1,858$1,520$1,238$829
19 years$2,560$2,094$1,701$1,374$1,104$719
20 years$2,406$1,946$1,561$1,244$986$625
21 years$2,268$1,813$1,436$1,129$882$544
22 years$2,142$1,692$1,324$1,027$791$474
23 years$2,027$1,582$1,222$935$710$413
24 years$1,922$1,483$1,130$853$638$361
25 years$1,825$1,391$1,047$779$574$315
26 years$1,736$1,308$971$712$517$276
27 years$1,654$1,231$902$652$466$241
28 years$1,578$1,160$838$597$421$211
29 years$1,507$1,094$780$548$380$185
30 years$1,441$1,033$727$503$343$162
31 years$1,380$977$677$462$310$142
32 years$1,322$924$632$424$281$124
33 years$1,268$875$590$390$254$109
34 years$1,217$829$551$359$230$96
35 years$1,169$787$515$330$208$84
36 years$1,124$747$482$304$189$74
37 years$1,082$709$451$280$171$65
38 years$1,042$674$423$258$155$57
39 years$1,004$641$396$238$141$50
40 years$968$610$371$220$128$44
41 years$934$580$348$203$116$38
42 years$901$553$326$187$105$34
43 years$871$527$306$173$95$30
44 years$841$502$288$160$87$26
45 years$813$479$270$147$79$23
46 years$787$457$254$136$71$20
47 years$761$436$238$126$65$18
48 years$737$416$224$116$59$16
49 years$714$397$210$107$53$14
50 years$691$380$198$99$49$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $708,000, adding $6,055 every year, while hoping to spend $26,288 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: 39/32/29 Blend
60$708,000$708,000$708,000$708,000
61$786,462$748,938$737,964$810,181
62$838,711$757,665$734,715$836,822
63$895,408$765,940$730,477$862,754
64$956,979$773,711$725,188$890,299
65$1,023,894$780,925$718,784$919,621
66$1,096,666$787,526$711,199$950,903
67$1,175,864$793,453$702,362$984,346
68$1,262,112$798,641$692,200$1,020,177
69$1,356,095$803,022$680,637$1,058,643
70$1,458,570$806,524$667,592$1,100,022
71$1,570,368$809,067$652,980$1,144,618
72$1,692,405$810,571$636,714$1,192,773
73$1,825,688$810,947$618,702$1,244,861
74$1,971,327$810,102$598,847$1,301,300
75$2,130,543$807,937$577,049$1,362,551
76$2,304,680$804,348$553,202$1,429,126
77$2,495,219$799,223$527,195$1,501,589
78$2,703,789$792,443$498,915$1,580,569
79$2,932,188$783,884$468,240$1,666,757
80$3,182,389$773,413$435,045$1,760,922
81$3,456,572$760,890$399,198$1,863,913
82$3,757,133$746,164$360,562$1,976,669
83$4,086,713$729,078$318,993$2,100,228
84$4,448,221$709,466$274,342$2,235,741
85$4,844,859$687,149$226,452$2,384,477
86$5,280,155$661,941$175,160$2,547,841
87$5,757,998$633,643$120,294$2,727,386
88$6,282,667$602,045$61,678$2,924,828
89$6,858,880$566,925$0$3,142,064
90$7,491,830$528,049$0$3,381,461
91$8,187,242$485,169$0$3,665,449
92$8,951,420$438,021$0$3,977,543
93$9,791,310$386,330$0$4,320,635
94$10,714,565$329,801$0$4,697,915
95$11,729,614$268,125$0$5,112,902
96$12,845,747$200,975$0$5,569,478
97$14,073,196$128,006$0$6,071,923
98$15,423,237$48,853$0$6,624,962
99$16,908,290$0$0$7,233,802
100$18,542,044$0$0$7,917,171