Can I retire at age 61 with 723,000?

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 $723,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$59,705$59,173$58,654$58,148$57,653$56,651
2 years$29,557$29,006$28,473$27,956$27,454$26,448
3 years$19,509$18,956$18,424$17,911$17,418$16,439
4 years$14,486$13,935$13,408$12,904$12,423$11,478
5 years$11,473$10,925$10,405$9,912$9,443$8,536
6 years$9,465$8,921$8,409$7,926$7,472$6,604
7 years$8,031$7,492$6,988$6,517$6,077$5,247
8 years$6,956$6,422$5,926$5,467$5,041$4,250
9 years$6,121$5,591$5,104$4,656$4,246$3,492
10 years$5,453$4,929$4,450$4,014$3,617$2,901
11 years$4,906$4,388$3,918$3,493$3,111$2,431
12 years$4,452$3,938$3,477$3,064$2,696$2,052
13 years$4,067$3,559$3,106$2,705$2,351$1,742
14 years$3,738$3,235$2,791$2,401$2,061$1,485
15 years$3,452$2,955$2,520$2,142$1,815$1,271
16 years$3,203$2,711$2,285$1,918$1,604$1,092
17 years$2,983$2,497$2,079$1,723$1,422$940
18 years$2,788$2,307$1,898$1,553$1,264$811
19 years$2,614$2,138$1,737$1,403$1,127$702
20 years$2,457$1,987$1,594$1,271$1,007$608
21 years$2,316$1,851$1,467$1,153$901$527
22 years$2,187$1,728$1,352$1,049$807$458
23 years$2,070$1,616$1,248$955$725$398
24 years$1,963$1,514$1,154$871$651$347
25 years$1,864$1,421$1,069$795$586$302
26 years$1,773$1,335$992$727$528$263
27 years$1,689$1,257$921$666$476$229
28 years$1,611$1,184$856$610$430$200
29 years$1,539$1,117$796$559$388$175
30 years$1,472$1,055$742$513$350$153
31 years$1,409$997$692$471$317$133
32 years$1,350$944$645$433$287$117
33 years$1,295$894$603$398$259$102
34 years$1,243$847$563$367$235$89
35 years$1,194$803$526$337$213$78
36 years$1,148$763$492$311$193$68
37 years$1,105$724$461$286$175$60
38 years$1,064$688$432$264$158$52
39 years$1,025$655$404$243$144$46
40 years$988$623$379$224$130$40
41 years$954$593$355$207$118$35
42 years$920$565$333$191$107$31
43 years$889$538$313$176$97$27
44 years$859$513$294$163$88$23
45 years$830$489$276$150$80$20
46 years$803$466$259$139$73$18
47 years$777$445$243$128$66$16
48 years$752$425$229$119$60$14
49 years$729$406$215$110$55$12
50 years$706$388$202$101$50$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $723,000, adding $4,998 every year, while hoping to spend $37,219 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: 51/38/11 Blend
60$723,000$723,000$723,000$723,000
61$801,901$763,582$752,376$840,215
62$844,095$761,397$737,980$864,747
63$889,344$757,858$721,854$887,026
64$937,922$752,858$703,901$910,390
65$990,128$746,286$684,020$934,949
66$1,046,290$738,022$662,103$960,830
67$1,106,769$727,942$638,040$988,171
68$1,171,959$715,911$611,715$1,017,129
69$1,242,296$701,788$583,005$1,047,878
70$1,318,258$685,424$551,783$1,080,612
71$1,400,369$666,658$517,916$1,115,549
72$1,489,206$645,324$481,266$1,152,929
73$1,585,404$621,244$441,688$1,193,022
74$1,689,660$594,229$399,028$1,236,128
75$1,802,739$564,081$353,130$1,282,580
76$1,925,486$530,588$303,827$1,332,749
77$2,058,828$493,529$250,947$1,387,048
78$2,203,784$452,667$194,310$1,445,937
79$2,361,476$407,754$133,725$1,509,925
80$2,533,140$358,527$68,998$1,579,579
81$2,720,133$304,708$0$1,655,529
82$2,923,951$246,003$0$1,738,482
83$3,146,239$182,102$0$1,837,849
84$3,388,808$112,678$0$1,946,409
85$3,653,650$37,383$0$2,065,145
86$3,942,961$0$0$2,195,144
87$4,259,156$0$0$2,356,070
88$4,604,894$0$0$2,549,196
89$4,983,104$0$0$2,760,533
90$5,397,008$0$0$2,991,894
91$5,850,159$0$0$3,245,271
92$6,346,464$0$0$3,522,862
93$6,890,230$0$0$3,827,084
94$7,486,197$0$0$4,160,600
95$8,139,588$0$0$4,526,345
96$8,856,153$0$0$4,927,549
97$9,642,227$0$0$5,367,770
98$10,504,787$0$0$5,850,928
99$11,451,518$0$0$6,381,341
100$12,490,886$0$0$6,963,766