Can I retire at age 61 with 714,000?

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 $714,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$58,961$58,436$57,924$57,424$56,935$56,247
2 years$29,189$28,645$28,118$27,608$27,112$26,420
3 years$19,266$18,720$18,194$17,688$17,201$16,526
4 years$14,305$13,761$13,241$12,744$12,268$11,615
5 years$11,330$10,789$10,275$9,788$9,326$8,697
6 years$9,347$8,810$8,304$7,828$7,379$6,775
7 years$7,931$7,399$6,901$6,436$6,001$5,423
8 years$6,870$6,342$5,852$5,399$4,979$4,425
9 years$6,044$5,522$5,041$4,598$4,193$3,664
10 years$5,385$4,867$4,395$3,964$3,572$3,068
11 years$4,845$4,333$3,869$3,450$3,072$2,593
12 years$4,396$3,889$3,434$3,026$2,662$2,206
13 years$4,016$3,515$3,068$2,671$2,322$1,889
14 years$3,691$3,195$2,756$2,371$2,035$1,624
15 years$3,409$2,918$2,489$2,115$1,792$1,403
16 years$3,163$2,678$2,256$1,894$1,584$1,216
17 years$2,946$2,466$2,053$1,701$1,404$1,057
18 years$2,754$2,279$1,874$1,533$1,249$921
19 years$2,581$2,112$1,716$1,385$1,113$804
20 years$2,427$1,962$1,575$1,255$994$703
21 years$2,287$1,828$1,448$1,139$890$616
22 years$2,160$1,706$1,335$1,035$797$540
23 years$2,044$1,596$1,233$943$716$475
24 years$1,938$1,495$1,140$860$643$417
25 years$1,841$1,403$1,056$785$579$367
26 years$1,751$1,319$979$718$521$323
27 years$1,668$1,241$909$657$470$285
28 years$1,591$1,169$845$602$424$251
29 years$1,520$1,103$787$552$383$222
30 years$1,453$1,042$733$507$346$196
31 years$1,391$985$683$466$313$173
32 years$1,333$932$637$428$283$153
33 years$1,279$883$595$393$256$135
34 years$1,227$837$556$362$232$119
35 years$1,179$793$520$333$210$105
36 years$1,134$753$486$307$190$93
37 years$1,091$715$455$283$173$82
38 years$1,051$680$426$261$156$73
39 years$1,012$646$399$240$142$64
40 years$976$615$374$222$129$57
41 years$942$585$351$205$117$50
42 years$909$557$329$189$106$45
43 years$878$531$309$174$96$40
44 years$848$506$290$161$87$35
45 years$820$483$272$149$79$31
46 years$793$461$256$137$72$27
47 years$768$440$240$127$65$24
48 years$743$420$226$117$59$22
49 years$720$401$212$108$54$19
50 years$697$383$200$100$49$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $714,000, adding $2,123 every year, while hoping to spend $34,513 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: 55/19/26 Blend
60$714,000$714,000$714,000$714,000
61$789,018$751,176$740,109$826,653
62$832,776$751,262$728,181$852,871
63$879,841$750,195$714,697$877,647
64$930,513$747,884$699,568$903,922
65$985,123$744,228$682,701$931,851
66$1,044,034$739,123$664,000$961,608
67$1,107,645$732,459$643,362$993,386
68$1,176,392$724,117$620,683$1,027,397
69$1,250,759$713,974$595,851$1,063,880
70$1,331,274$701,896$568,749$1,103,097
71$1,418,519$687,744$539,257$1,145,341
72$1,513,134$671,369$507,248$1,190,935
73$1,615,822$652,615$472,590$1,240,240
74$1,727,357$631,315$435,143$1,293,655
75$1,848,591$607,292$394,763$1,351,621
76$1,980,459$580,362$351,300$1,414,628
77$2,123,993$550,326$304,595$1,483,219
78$2,280,324$516,976$254,483$1,557,996
79$2,450,702$480,093$200,793$1,639,624
80$2,636,498$439,442$143,345$1,728,842
81$2,839,224$394,778$81,950$1,826,464
82$3,060,543$345,840$16,413$1,933,396
83$3,302,286$292,353$0$2,050,637
84$3,566,468$234,027$0$2,194,143
85$3,855,307$170,555$0$2,356,113
86$4,171,248$101,611$0$2,533,404
87$4,516,980$26,855$0$2,727,578
88$4,895,465$0$0$2,940,359
89$5,309,964$0$0$3,184,952
90$5,764,070$0$0$3,459,133
91$6,261,738$0$0$3,759,683
92$6,807,325$0$0$4,089,244
93$7,405,629$0$0$4,450,720
94$8,061,934$0$0$4,847,315
95$8,782,062$0$0$5,282,556
96$9,572,424$0$0$5,760,326
97$10,440,083$0$0$6,284,906
98$11,392,818$0$0$6,861,009
99$12,439,199$0$0$7,493,829
100$13,588,666$0$0$8,189,086