Can I retire at age 61 with 709,000?

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 $709,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$58,549$58,027$57,518$57,022$56,537$56,133
2 years$28,984$28,445$27,921$27,414$26,922$26,515
3 years$19,131$18,589$18,067$17,565$17,081$16,683
4 years$14,205$13,665$13,148$12,654$12,182$11,797
5 years$11,251$10,713$10,204$9,720$9,261$8,889
6 years$9,281$8,748$8,246$7,773$7,328$6,970
7 years$7,875$7,347$6,852$6,391$5,959$5,615
8 years$6,821$6,298$5,811$5,361$4,944$4,614
9 years$6,002$5,483$5,005$4,566$4,163$3,848
10 years$5,347$4,833$4,364$3,936$3,547$3,245
11 years$4,811$4,303$3,842$3,426$3,051$2,762
12 years$4,365$3,862$3,410$3,005$2,644$2,369
13 years$3,988$3,490$3,046$2,653$2,305$2,043
14 years$3,665$3,172$2,737$2,355$2,021$1,772
15 years$3,386$2,898$2,471$2,100$1,779$1,543
16 years$3,141$2,659$2,240$1,880$1,573$1,348
17 years$2,926$2,449$2,039$1,690$1,394$1,181
18 years$2,734$2,263$1,861$1,523$1,240$1,038
19 years$2,563$2,097$1,704$1,376$1,105$914
20 years$2,410$1,949$1,564$1,246$987$807
21 years$2,271$1,815$1,438$1,131$883$713
22 years$2,145$1,694$1,326$1,028$792$631
23 years$2,030$1,585$1,224$936$711$559
24 years$1,925$1,485$1,132$854$639$496
25 years$1,828$1,393$1,048$780$575$441
26 years$1,739$1,310$972$713$518$392
27 years$1,657$1,232$903$653$467$349
28 years$1,580$1,161$839$598$421$310
29 years$1,509$1,096$781$548$380$277
30 years$1,443$1,035$728$503$344$246
31 years$1,382$978$678$462$311$220
32 years$1,324$925$633$425$281$196
33 years$1,270$876$591$391$254$175
34 years$1,219$831$552$359$230$156
35 years$1,171$788$516$331$209$140
36 years$1,126$748$483$305$189$125
37 years$1,084$710$452$281$171$111
38 years$1,043$675$423$259$155$100
39 years$1,005$642$397$239$141$89
40 years$969$611$372$220$128$80
41 years$935$581$348$203$116$71
42 years$903$554$327$187$105$64
43 years$872$527$307$173$95$57
44 years$842$503$288$160$87$51
45 years$814$479$270$148$79$46
46 years$788$457$254$136$71$41
47 years$762$436$239$126$65$36
48 years$738$417$224$116$59$33
49 years$715$398$211$108$53$29
50 years$692$380$198$99$49$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $709,000, adding $5,036 every year, while hoping to spend $44,914 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: 47/24/29 Blend
60$709,000$709,000$709,000$709,000
61$786,513$748,936$737,946$816,731
62$818,949$737,845$714,879$827,503
63$853,188$724,706$689,534$834,438
64$889,367$709,371$661,787$841,107
65$927,635$691,682$631,509$847,510
66$968,153$671,474$598,565$853,650
67$1,011,101$648,573$562,813$859,531
68$1,056,671$622,791$524,105$865,164
69$1,105,076$593,932$482,287$870,562
70$1,156,549$561,789$437,198$875,745
71$1,211,342$526,142$388,670$880,740
72$1,269,734$486,759$336,526$885,578
73$1,332,030$443,392$280,582$890,300
74$1,398,562$395,784$220,647$894,958
75$1,469,697$343,658$156,519$899,610
76$1,545,834$286,726$87,991$904,329
77$1,627,414$224,680$14,843$909,199
78$1,714,917$157,197$0$914,321
79$1,808,874$83,935$0$939,373
80$1,909,864$4,532$0$971,102
81$2,018,524$0$0$1,005,143
82$2,135,553$0$0$1,063,253
83$2,261,721$0$0$1,127,251
84$2,397,870$0$0$1,196,376
85$2,544,929$0$0$1,271,108
86$2,703,916$0$0$1,351,973
87$2,875,950$0$0$1,439,549
88$3,062,263$0$0$1,534,472
89$3,264,209$0$0$1,637,442
90$3,483,275$0$0$1,749,229
91$3,721,099$0$0$1,870,678
92$3,979,481$0$0$2,002,721
93$4,260,400$0$0$2,146,380
94$4,566,036$0$0$2,302,783
95$4,898,786$0$0$2,473,170
96$5,261,288$0$0$2,658,905
97$5,656,443$0$0$2,861,489
98$6,087,448$0$0$3,082,575
99$6,557,817$0$0$3,323,982
100$7,071,422$0$0$3,587,712