Can I retire at age 61 with 717,000?

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 $717,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13%
1 years$59,209$58,682$58,167$57,665$57,175$56,460
2 years$29,311$28,766$28,237$27,724$27,226$26,507
3 years$19,347$18,799$18,271$17,763$17,273$16,572
4 years$14,366$13,819$13,297$12,797$12,319$11,642
5 years$11,378$10,834$10,319$9,829$9,365$8,713
6 years$9,386$8,847$8,339$7,861$7,410$6,784
7 years$7,964$7,430$6,930$6,463$6,027$5,426
8 years$6,898$6,369$5,877$5,421$5,000$4,426
9 years$6,070$5,545$5,062$4,618$4,210$3,663
10 years$5,407$4,888$4,413$3,981$3,587$3,065
11 years$4,866$4,351$3,885$3,464$3,085$2,588
12 years$4,415$3,905$3,448$3,039$2,674$2,201
13 years$4,033$3,529$3,081$2,683$2,331$1,883
14 years$3,707$3,208$2,768$2,381$2,044$1,619
15 years$3,424$2,931$2,499$2,124$1,800$1,397
16 years$3,177$2,689$2,266$1,902$1,590$1,210
17 years$2,959$2,476$2,062$1,709$1,410$1,051
18 years$2,765$2,288$1,882$1,540$1,254$915
19 years$2,592$2,121$1,723$1,391$1,118$798
20 years$2,437$1,971$1,581$1,260$998$697
21 years$2,296$1,836$1,454$1,144$893$611
22 years$2,169$1,713$1,340$1,040$801$535
23 years$2,053$1,603$1,238$947$719$470
24 years$1,946$1,501$1,145$864$646$413
25 years$1,849$1,409$1,060$789$581$363
26 years$1,758$1,324$983$721$524$319
27 years$1,675$1,246$913$660$472$281
28 years$1,598$1,174$849$605$426$248
29 years$1,526$1,108$790$555$385$218
30 years$1,460$1,046$736$509$348$193
31 years$1,397$989$686$468$314$170
32 years$1,339$936$640$430$284$150
33 years$1,284$886$598$395$257$132
34 years$1,233$840$558$364$233$117
35 years$1,184$797$522$335$211$103
36 years$1,139$756$488$308$191$91
37 years$1,096$718$457$284$173$81
38 years$1,055$683$428$262$157$71
39 years$1,017$649$401$241$142$63
40 years$980$618$376$223$129$56
41 years$946$588$352$205$117$49
42 years$913$560$331$190$106$44
43 years$882$533$310$175$97$39
44 years$852$508$291$162$88$34
45 years$824$485$273$149$80$30
46 years$797$463$257$138$72$27
47 years$771$441$241$127$66$24
48 years$746$421$227$118$60$21
49 years$723$402$213$109$54$18
50 years$700$384$200$101$49$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $717,000, adding $5,236 every year, while hoping to spend $22,726 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: 42/49/9 Blend
60$717,000$717,000$717,000$717,000
61$795,535$757,534$746,420$826,636
62$852,499$770,473$747,245$861,796
63$914,512$783,284$747,336$897,145
64$982,065$795,937$746,644$934,905
65$1,055,697$808,400$745,119$975,306
66$1,136,004$820,638$742,706$1,018,600
67$1,223,641$832,613$739,350$1,065,064
68$1,319,326$844,285$734,993$1,115,008
69$1,423,854$855,612$729,572$1,168,770
70$1,538,098$866,547$723,023$1,226,724
71$1,663,018$877,042$715,279$1,289,285
72$1,799,673$887,045$706,268$1,356,908
73$1,949,229$896,499$695,917$1,430,097
74$2,112,967$905,344$684,147$1,509,409
75$2,292,302$913,519$670,878$1,595,457
76$2,488,790$920,953$656,025$1,688,919
77$2,704,143$927,577$639,498$1,790,542
78$2,940,249$933,311$621,205$1,901,152
79$3,199,187$938,076$601,048$2,021,661
80$3,483,246$941,784$578,926$2,153,073
81$3,794,948$944,343$554,731$2,296,499
82$4,137,071$945,653$528,352$2,453,163
83$4,512,674$945,612$499,673$2,624,417
84$4,925,127$944,108$468,573$2,811,753
85$5,378,144$941,023$434,924$3,016,817
86$5,875,814$936,232$398,594$3,241,426
87$6,422,643$929,604$359,442$3,487,583
88$7,023,594$920,996$317,326$3,757,502
89$7,684,137$910,261$272,092$4,053,621
90$8,410,296$897,241$223,584$4,378,634
91$9,208,707$881,767$171,635$4,735,512
92$10,086,684$863,662$116,074$5,127,532
93$11,052,284$842,739$56,720$5,558,310
94$12,114,382$818,799$0$6,031,834
95$13,282,760$791,631$0$6,553,141
96$14,568,192$761,012$0$7,132,303
97$15,982,553$726,706$0$7,769,242
98$17,538,923$688,464$0$8,469,883
99$19,251,716$646,022$0$9,240,763
100$21,136,814$599,101$0$10,089,088