Can I retire at age 61 with 720,000?

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 $720,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$59,457$58,927$58,411$57,906$57,414$55,935
2 years$29,434$28,886$28,355$27,840$27,340$25,860
3 years$19,428$18,877$18,347$17,837$17,346$15,911
4 years$14,426$13,877$13,352$12,851$12,371$10,992
5 years$11,425$10,880$10,362$9,870$9,404$8,085
6 years$9,425$8,884$8,374$7,894$7,441$6,184
7 years$7,998$7,461$6,959$6,490$6,052$4,855
8 years$6,927$6,395$5,902$5,444$5,020$3,885
9 years$6,095$5,568$5,083$4,637$4,228$3,152
10 years$5,430$4,908$4,431$3,997$3,602$2,585
11 years$4,886$4,369$3,901$3,479$3,098$2,138
12 years$4,433$3,922$3,462$3,051$2,685$1,780
13 years$4,050$3,544$3,093$2,694$2,341$1,490
14 years$3,722$3,221$2,779$2,391$2,052$1,252
15 years$3,438$2,943$2,509$2,133$1,807$1,056
16 years$3,190$2,700$2,275$1,910$1,597$894
17 years$2,971$2,487$2,070$1,716$1,416$758
18 years$2,777$2,298$1,890$1,546$1,259$644
19 years$2,603$2,130$1,730$1,397$1,122$549
20 years$2,447$1,979$1,588$1,265$1,002$468
21 years$2,306$1,843$1,461$1,148$897$399
22 years$2,178$1,721$1,346$1,044$804$341
23 years$2,061$1,609$1,243$951$722$292
24 years$1,954$1,508$1,149$867$649$250
25 years$1,856$1,415$1,065$792$584$214
26 years$1,766$1,330$987$724$526$183
27 years$1,682$1,252$917$663$474$157
28 years$1,605$1,179$852$607$428$135
29 years$1,533$1,113$793$557$386$116
30 years$1,466$1,051$739$511$349$99
31 years$1,403$993$689$469$316$85
32 years$1,344$940$643$431$285$73
33 years$1,289$890$600$397$258$63
34 years$1,238$844$561$365$234$54
35 years$1,189$800$524$336$212$46
36 years$1,144$759$490$309$192$40
37 years$1,100$721$459$285$174$34
38 years$1,060$685$430$263$158$29
39 years$1,021$652$403$242$143$25
40 years$984$620$377$224$130$22
41 years$950$590$354$206$118$19
42 years$917$562$332$190$107$16
43 years$885$536$312$176$97$14
44 years$855$511$292$162$88$12
45 years$827$487$275$150$80$10
46 years$800$464$258$138$73$9
47 years$774$443$242$128$66$8
48 years$749$423$228$118$60$6
49 years$726$404$214$109$54$6
50 years$703$386$201$101$49$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $720,000, adding $3,552 every year, while hoping to spend $57,970 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: 49/37/14 Blend
60$720,000$720,000$720,000$720,000
61$797,104$758,944$747,784$832,919
62$816,729$734,453$711,155$833,468
63$836,413$706,818$671,356$827,754
64$856,100$675,826$628,220$820,260
65$875,728$641,247$581,571$810,839
66$895,226$602,842$531,228$799,332
67$914,514$560,355$476,998$785,570
68$933,500$513,518$418,683$769,371
69$952,082$462,046$356,074$750,538
70$970,145$405,637$288,954$728,862
71$987,561$343,975$217,095$704,118
72$1,004,185$276,722$140,260$676,061
73$1,019,855$203,525$58,202$644,432
74$1,034,391$124,008$0$608,951
75$1,047,590$37,776$0$573,703
76$1,059,228$0$0$543,541
77$1,069,054$0$0$532,086
78$1,076,788$0$0$534,840
79$1,082,120$0$0$536,251
80$1,084,703$0$0$536,132
81$1,084,155$0$0$534,274
82$1,080,049$0$0$530,445
83$1,071,911$0$0$524,389
84$1,059,216$0$0$515,820
85$1,041,383$0$0$504,422
86$1,017,766$0$0$489,845
87$987,649$0$0$471,701
88$950,243$0$0$449,562
89$904,669$0$0$422,951
90$849,957$0$0$391,343
91$785,035$0$0$354,156
92$708,715$0$0$310,748
93$619,684$0$0$260,407
94$516,491$0$0$202,347
95$397,530$0$0$135,699
96$261,028$0$0$59,503
97$105,026$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0