Can I retire at age 61 with 718,000?

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 $718,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$59,292$58,764$58,248$57,745$57,254$56,586
2 years$29,352$28,806$28,276$27,762$27,264$26,591
3 years$19,374$18,825$18,296$17,788$17,297$16,641
4 years$14,386$13,838$13,315$12,815$12,337$11,702
5 years$11,393$10,849$10,333$9,843$9,378$8,767
6 years$9,399$8,859$8,351$7,872$7,421$6,833
7 years$7,975$7,440$6,939$6,472$6,035$5,472
8 years$6,908$6,377$5,885$5,429$5,007$4,468
9 years$6,078$5,553$5,069$4,624$4,216$3,702
10 years$5,415$4,894$4,419$3,986$3,592$3,102
11 years$4,872$4,357$3,891$3,469$3,090$2,623
12 years$4,421$3,911$3,453$3,043$2,677$2,233
13 years$4,039$3,534$3,085$2,686$2,335$1,913
14 years$3,712$3,213$2,772$2,385$2,047$1,646
15 years$3,429$2,935$2,503$2,127$1,802$1,423
16 years$3,181$2,693$2,269$1,904$1,593$1,234
17 years$2,963$2,480$2,065$1,711$1,412$1,073
18 years$2,769$2,291$1,885$1,542$1,256$936
19 years$2,596$2,124$1,725$1,393$1,119$818
20 years$2,440$1,973$1,583$1,262$1,000$716
21 years$2,300$1,838$1,456$1,145$895$627
22 years$2,172$1,716$1,342$1,041$802$551
23 years$2,056$1,605$1,239$948$720$484
24 years$1,949$1,504$1,146$865$647$426
25 years$1,851$1,411$1,062$790$582$375
26 years$1,761$1,326$985$722$524$331
27 years$1,678$1,248$914$661$473$292
28 years$1,600$1,176$850$606$427$257
29 years$1,528$1,109$791$555$385$227
30 years$1,462$1,048$737$510$348$201
31 years$1,399$990$687$468$315$177
32 years$1,341$937$641$430$285$157
33 years$1,286$888$598$396$258$139
34 years$1,234$841$559$364$233$123
35 years$1,186$798$523$335$211$109
36 years$1,140$757$489$309$191$96
37 years$1,097$719$458$284$173$85
38 years$1,057$684$429$262$157$75
39 years$1,018$650$402$242$143$67
40 years$982$618$376$223$129$59
41 years$947$589$353$206$117$52
42 years$914$561$331$190$106$46
43 years$883$534$311$175$97$41
44 years$853$509$292$162$88$36
45 years$825$486$274$149$80$32
46 years$798$463$257$138$72$29
47 years$772$442$242$128$66$25
48 years$747$422$227$118$60$22
49 years$724$403$213$109$54$20
50 years$701$385$201$101$49$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $718,000, adding $6,075 every year, while hoping to spend $22,375 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: 80/5/15 Blend
60$718,000$718,000$718,000$718,000
61$797,502$759,448$748,319$858,361
62$855,041$772,855$749,581$912,665
63$917,698$786,168$750,135$968,754
64$985,973$799,360$749,935$1,029,675
65$1,060,414$812,400$748,929$1,095,902
66$1,141,625$825,256$747,067$1,167,956
67$1,230,271$837,894$744,294$1,246,415
68$1,327,083$850,275$740,552$1,331,911
69$1,432,866$862,359$735,781$1,425,144
70$1,548,507$874,104$729,919$1,526,884
71$1,674,983$885,463$722,899$1,637,978
72$1,813,368$896,387$714,653$1,759,361
73$1,964,845$906,824$705,108$1,892,063
74$2,130,719$916,718$694,188$2,037,217
75$2,312,423$926,008$681,815$2,196,073
76$2,511,539$934,631$667,904$2,370,010
77$2,729,807$942,519$652,370$2,560,544
78$2,969,145$949,600$635,122$2,769,347
79$3,231,663$955,795$616,064$2,998,264
80$3,519,687$961,024$595,096$3,249,323
81$3,835,780$965,199$572,116$3,524,763
82$4,182,762$968,226$547,015$3,827,050
83$4,563,741$970,007$519,678$4,158,902
84$4,982,143$970,437$489,986$4,523,312
85$5,441,737$969,404$457,817$4,923,581
86$5,946,680$966,790$423,039$5,363,347
87$6,501,548$962,470$385,518$5,846,616
88$7,111,384$956,310$345,112$6,377,806
89$7,781,745$948,168$301,672$6,961,783
90$8,518,749$937,894$255,044$7,603,914
91$9,329,141$925,331$205,068$8,310,107
92$10,220,349$910,308$151,573$9,086,880
93$11,200,559$892,647$94,385$9,941,411
94$12,278,789$872,160$33,320$10,881,612
95$13,464,976$848,646$0$11,916,204
96$14,770,066$821,893$0$13,059,892
97$16,206,124$791,676$0$14,324,193
98$17,786,438$757,758$0$15,715,473
99$19,525,655$719,888$0$17,246,629
100$21,439,909$677,800$0$18,931,872