Can I retire at age 61 with 590,000?

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 $590,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$48,722$48,288$47,864$47,451$47,047$46,810
2 years$24,120$23,670$23,235$22,813$22,404$22,164
3 years$15,920$15,469$15,035$14,616$14,214$13,979
4 years$11,821$11,371$10,941$10,530$10,137$9,910
5 years$9,362$8,915$8,491$8,088$7,706$7,486
6 years$7,724$7,280$6,862$6,468$6,098$5,886
7 years$6,554$6,114$5,702$5,318$4,959$4,755
8 years$5,677$5,241$4,836$4,461$4,114$3,918
9 years$4,995$4,563$4,165$3,800$3,465$3,277
10 years$4,450$4,022$3,631$3,276$2,952$2,772
11 years$4,004$3,580$3,197$2,851$2,539$2,367
12 years$3,633$3,214$2,837$2,500$2,200$2,036
13 years$3,319$2,904$2,535$2,208$1,919$1,762
14 years$3,050$2,640$2,278$1,960$1,682$1,533
15 years$2,817$2,412$2,056$1,748$1,481$1,339
16 years$2,614$2,213$1,864$1,565$1,309$1,174
17 years$2,435$2,038$1,697$1,406$1,160$1,032
18 years$2,275$1,883$1,549$1,267$1,032$910
19 years$2,133$1,745$1,418$1,145$920$805
20 years$2,005$1,622$1,301$1,037$821$713
21 years$1,890$1,510$1,197$941$735$632
22 years$1,785$1,410$1,103$856$659$562
23 years$1,689$1,319$1,018$779$591$500
24 years$1,602$1,236$942$711$532$445
25 years$1,521$1,159$872$649$478$397
26 years$1,447$1,090$809$593$431$354
27 years$1,378$1,026$751$543$389$316
28 years$1,315$966$698$498$351$283
29 years$1,256$912$650$456$317$253
30 years$1,201$861$605$419$286$226
31 years$1,150$814$564$385$259$203
32 years$1,102$770$527$354$234$182
33 years$1,057$729$492$325$212$163
34 years$1,014$691$459$299$192$146
35 years$975$656$430$275$174$131
36 years$937$622$402$254$157$117
37 years$902$591$376$234$143$105
38 years$868$562$352$215$129$94
39 years$837$534$330$199$117$85
40 years$807$508$309$183$106$76
41 years$778$484$290$169$96$68
42 years$751$461$272$156$88$61
43 years$725$439$255$144$79$55
44 years$701$418$240$133$72$50
45 years$678$399$225$123$65$45
46 years$655$381$211$113$59$40
47 years$634$363$199$105$54$36
48 years$614$347$187$97$49$32
49 years$595$331$175$89$45$29
50 years$576$316$165$83$40$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $590,000, adding $5,374 every year, while hoping to spend $44,191 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: 35/38/27 Blend
60$590,000$590,000$590,000$590,000
61$655,723$624,453$615,308$673,179
62$675,588$608,033$588,902$670,258
63$695,998$589,326$560,130$662,739
64$716,962$568,175$528,867$653,766
65$738,489$544,412$494,981$643,241
66$760,586$517,860$458,333$631,056
67$783,259$488,329$418,782$617,099
68$806,517$455,622$376,175$601,252
69$830,362$419,528$330,358$583,389
70$854,799$379,825$281,165$563,378
71$879,831$336,279$228,427$541,078
72$905,458$288,641$171,963$516,341
73$931,679$236,649$111,589$489,010
74$958,492$180,026$47,108$458,920
75$985,891$118,479$0$425,895
76$1,013,867$51,701$0$396,003
77$1,042,411$0$0$377,684
78$1,071,508$0$0$365,839
79$1,101,141$0$0$375,774
80$1,131,286$0$0$385,859
81$1,161,918$0$0$396,084
82$1,193,004$0$0$406,434
83$1,224,507$0$0$416,893
84$1,256,383$0$0$427,442
85$1,288,580$0$0$438,060
86$1,321,038$0$0$448,723
87$1,353,689$0$0$459,401
88$1,386,455$0$0$470,063
89$1,419,245$0$0$480,673
90$1,451,958$0$0$491,188
91$1,484,479$0$0$501,563
92$1,516,675$0$0$511,745
93$1,548,401$0$0$521,674
94$1,579,489$0$0$531,285
95$1,609,751$0$0$540,503
96$1,638,980$0$0$549,244
97$1,666,937$0$0$557,416
98$1,693,362$0$0$564,914
99$1,717,958$0$0$571,622
100$1,740,397$0$0$577,410