Can I retire at age 61 with 741,000?

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 $741,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.7%
1 years$61,191$60,646$60,114$59,595$59,088$56,789
2 years$30,293$29,728$29,182$28,652$28,137$25,848
3 years$19,994$19,428$18,882$18,357$17,851$15,645
4 years$14,846$14,282$13,742$13,225$12,732$10,625
5 years$11,758$11,197$10,664$10,158$9,679$7,676
6 years$9,700$9,143$8,618$8,124$7,658$5,762
7 years$8,231$7,678$7,162$6,679$6,228$4,438
8 years$7,129$6,582$6,074$5,603$5,167$3,480
9 years$6,273$5,731$5,231$4,772$4,351$2,766
10 years$5,588$5,051$4,561$4,114$3,708$2,220
11 years$5,029$4,497$4,015$3,580$3,189$1,796
12 years$4,562$4,036$3,563$3,140$2,763$1,462
13 years$4,168$3,647$3,184$2,772$2,410$1,196
14 years$3,831$3,315$2,861$2,461$2,112$982
15 years$3,538$3,029$2,583$2,195$1,860$808
16 years$3,283$2,779$2,342$1,965$1,644$667
17 years$3,058$2,559$2,131$1,766$1,457$552
18 years$2,858$2,365$1,945$1,591$1,296$458
19 years$2,679$2,192$1,781$1,438$1,155$380
20 years$2,518$2,037$1,634$1,302$1,032$315
21 years$2,373$1,897$1,503$1,182$923$262
22 years$2,242$1,771$1,385$1,075$828$218
23 years$2,121$1,656$1,279$979$743$182
24 years$2,011$1,552$1,183$893$668$151
25 years$1,910$1,456$1,096$815$601$126
26 years$1,817$1,369$1,016$745$541$105
27 years$1,731$1,288$944$682$488$88
28 years$1,652$1,214$877$625$440$73
29 years$1,577$1,145$816$573$398$61
30 years$1,508$1,081$760$526$359$51
31 years$1,444$1,022$709$483$325$43
32 years$1,384$967$661$444$294$36
33 years$1,327$916$618$408$266$30
34 years$1,274$868$577$376$241$25
35 years$1,224$823$539$346$218$21
36 years$1,177$782$505$319$198$17
37 years$1,132$742$472$293$179$14
38 years$1,090$705$442$270$162$12
39 years$1,051$671$414$249$147$10
40 years$1,013$638$388$230$134$8
41 years$977$608$364$212$121$7
42 years$943$579$342$196$110$6
43 years$911$551$321$181$100$5
44 years$880$525$301$167$91$4
45 years$851$501$283$154$82$3
46 years$823$478$265$142$75$3
47 years$797$456$249$132$68$2
48 years$771$435$234$122$62$2
49 years$747$416$220$112$56$2
50 years$723$397$207$104$51$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $741,000, adding $3,098 every year, while hoping to spend $32,548 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: 55/30/15 Blend
60$741,000$741,000$741,000$741,000
61$819,778$780,505$769,019$861,467
62$868,764$784,118$760,150$893,788
63$921,656$786,819$749,894$925,189
64$978,818$788,526$738,168$958,639
65$1,040,650$789,156$724,889$994,343
66$1,107,592$788,620$709,968$1,032,526
67$1,180,126$786,822$693,312$1,073,435
68$1,258,785$783,663$674,825$1,117,346
69$1,344,154$779,035$654,404$1,164,565
70$1,436,875$772,825$631,943$1,215,430
71$1,537,655$764,912$607,332$1,270,313
72$1,647,272$755,169$580,455$1,329,629
73$1,766,584$743,462$551,189$1,393,835
74$1,896,530$729,647$519,409$1,463,438
75$2,038,148$713,571$484,981$1,538,997
76$2,192,579$695,076$447,768$1,621,131
77$2,361,078$673,990$407,624$1,710,527
78$2,545,026$650,135$364,398$1,807,942
79$2,745,946$623,318$317,932$1,914,212
80$2,965,511$593,339$268,061$2,030,265
81$3,205,565$559,985$214,613$2,157,124
82$3,468,138$523,030$157,409$2,295,921
83$3,755,466$482,236$96,259$2,447,906
84$4,070,008$437,350$30,969$2,614,462
85$4,414,476$388,107$0$2,797,115
86$4,791,853$334,225$0$3,003,749
87$5,205,426$275,406$0$3,235,723
88$5,658,815$211,336$0$3,490,172
89$6,156,006$141,684$0$3,769,407
90$6,701,391$66,099$0$4,075,978
91$7,299,805$0$0$4,412,701
92$7,956,576$0$0$4,787,893
93$8,677,572$0$0$5,223,799
94$9,469,256$0$0$5,702,515
95$10,338,749$0$0$6,228,355
96$11,293,894$0$0$6,806,073
97$12,343,333$0$0$7,440,905
98$13,496,585$0$0$8,138,618
99$14,764,137$0$0$8,905,569
100$16,157,542$0$0$9,748,758