Can I retire at age 61 with 712,000?

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 $712,000?

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$58,796$58,273$57,762$57,263$56,776$54,783
2 years$29,107$28,565$28,040$27,530$27,036$25,049
3 years$19,212$18,668$18,143$17,639$17,153$15,235
4 years$14,265$13,723$13,204$12,708$12,234$10,398
5 years$11,298$10,759$10,247$9,761$9,300$7,553
6 years$9,321$8,785$8,281$7,806$7,359$5,701
7 years$7,909$7,378$6,881$6,418$5,984$4,415
8 years$6,850$6,324$5,836$5,384$4,965$3,483
9 years$6,028$5,506$5,027$4,586$4,181$2,785
10 years$5,370$4,854$4,382$3,953$3,562$2,250
11 years$4,832$4,321$3,858$3,440$3,064$1,832
12 years$4,384$3,878$3,424$3,017$2,655$1,501
13 years$4,005$3,505$3,059$2,664$2,315$1,236
14 years$3,681$3,186$2,749$2,365$2,030$1,022
15 years$3,400$2,910$2,482$2,109$1,787$848
16 years$3,154$2,670$2,250$1,888$1,579$705
17 years$2,938$2,459$2,047$1,697$1,400$588
18 years$2,746$2,272$1,869$1,529$1,245$491
19 years$2,574$2,106$1,711$1,382$1,110$410
20 years$2,420$1,957$1,570$1,251$991$343
21 years$2,280$1,823$1,444$1,136$887$288
22 years$2,154$1,701$1,331$1,033$795$241
23 years$2,038$1,591$1,229$940$714$203
24 years$1,933$1,491$1,137$858$642$170
25 years$1,836$1,399$1,053$783$577$143
26 years$1,746$1,315$976$716$520$120
27 years$1,664$1,238$907$656$469$101
28 years$1,587$1,166$843$601$423$85
29 years$1,516$1,100$784$551$382$72
30 years$1,449$1,039$731$505$345$60
31 years$1,387$982$681$464$312$51
32 years$1,329$929$636$427$282$43
33 years$1,275$880$593$392$255$36
34 years$1,224$834$554$361$231$30
35 years$1,176$791$518$332$209$25
36 years$1,131$751$485$306$190$21
37 years$1,088$713$454$282$172$18
38 years$1,048$678$425$260$156$15
39 years$1,010$645$398$240$141$13
40 years$973$613$373$221$128$11
41 years$939$584$350$204$116$9
42 years$906$556$328$188$106$8
43 years$875$530$308$174$96$6
44 years$846$505$289$160$87$5
45 years$818$481$272$148$79$5
46 years$791$459$255$137$72$4
47 years$765$438$240$126$65$3
48 years$741$418$225$117$59$3
49 years$718$400$212$108$54$2
50 years$695$382$199$100$49$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $712,000, adding $6,929 every year, while hoping to spend $39,563 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: 41/41/18 Blend
60$712,000$712,000$712,000$712,000
61$791,771$754,035$742,999$819,776
62$830,437$748,888$725,795$835,177
63$871,721$742,163$706,688$847,473
64$915,848$733,741$685,574$859,953
65$963,065$723,495$662,341$872,654
66$1,013,643$711,291$636,875$885,619
67$1,067,879$696,989$609,055$898,899
68$1,126,099$680,437$578,754$912,554
69$1,188,660$661,477$545,841$926,651
70$1,255,954$639,941$510,178$941,271
71$1,328,414$615,650$471,621$956,505
72$1,406,511$588,416$430,019$972,458
73$1,490,766$558,039$385,216$989,249
74$1,581,749$524,308$337,046$1,007,016
75$1,680,090$487,001$285,339$1,025,914
76$1,786,476$445,882$229,915$1,046,121
77$1,901,667$400,701$170,588$1,067,837
78$2,026,496$351,194$107,162$1,091,289
79$2,161,880$297,084$39,433$1,116,734
80$2,308,826$238,075$0$1,144,462
81$2,468,444$173,858$0$1,181,106
82$2,641,952$104,104$0$1,229,218
83$2,830,693$28,467$0$1,281,672
84$3,036,141$0$0$1,338,979
85$3,259,923$0$0$1,425,807
86$3,503,823$0$0$1,534,522
87$3,769,811$0$0$1,653,171
88$4,060,050$0$0$1,782,728
89$4,376,923$0$0$1,924,270
90$4,723,054$0$0$2,078,980
91$5,101,331$0$0$2,248,160
92$5,514,932$0$0$2,433,247
93$5,967,358$0$0$2,635,819
94$6,462,464$0$0$2,857,617
95$7,004,494$0$0$3,100,556
96$7,598,120$0$0$3,366,745
97$8,248,490$0$0$3,658,509
98$8,961,272$0$0$3,978,406
99$9,742,708$0$0$4,329,254
100$10,599,673$0$0$4,714,158