Can I retire at age 61 with 592,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $592,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$48,887$48,451$48,026$47,612$47,207$46,521
2 years$24,201$23,751$23,314$22,890$22,479$21,790
3 years$15,974$15,521$15,086$14,666$14,262$13,590
4 years$11,861$11,410$10,978$10,566$10,172$9,522
5 years$9,394$8,945$8,520$8,116$7,732$7,108
6 years$7,750$7,305$6,885$6,490$6,118$5,519
7 years$6,576$6,134$5,722$5,336$4,976$4,403
8 years$5,696$5,258$4,852$4,476$4,128$3,581
9 years$5,012$4,578$4,179$3,813$3,476$2,954
10 years$4,465$4,036$3,644$3,287$2,962$2,465
11 years$4,017$3,593$3,208$2,860$2,547$2,075
12 years$3,645$3,225$2,847$2,509$2,208$1,759
13 years$3,330$2,914$2,543$2,215$1,925$1,500
14 years$3,060$2,649$2,285$1,966$1,687$1,285
15 years$2,827$2,420$2,063$1,754$1,486$1,105
16 years$2,623$2,220$1,871$1,570$1,313$954
17 years$2,443$2,045$1,702$1,411$1,164$825
18 years$2,283$1,889$1,554$1,271$1,035$716
19 years$2,140$1,751$1,423$1,149$923$622
20 years$2,012$1,627$1,306$1,040$824$542
21 years$1,896$1,516$1,201$944$738$473
22 years$1,791$1,415$1,107$859$661$413
23 years$1,695$1,323$1,022$782$593$361
24 years$1,607$1,240$945$713$533$316
25 years$1,526$1,163$875$651$480$277
26 years$1,452$1,093$812$595$432$242
27 years$1,383$1,029$754$545$390$213
28 years$1,319$970$701$499$352$187
29 years$1,260$915$652$458$318$164
30 years$1,205$864$607$420$287$144
31 years$1,154$817$566$386$259$126
32 years$1,105$773$528$355$235$111
33 years$1,060$732$493$326$212$98
34 years$1,018$694$461$300$192$86
35 years$978$658$431$276$174$76
36 years$940$624$403$254$158$66
37 years$905$593$377$234$143$59
38 years$871$564$353$216$130$51
39 years$839$536$331$199$118$45
40 years$809$510$310$184$107$40
41 years$781$485$291$170$97$35
42 years$754$462$273$156$88$31
43 years$728$440$256$144$80$27
44 years$703$420$240$133$72$24
45 years$680$400$226$123$66$21
46 years$658$382$212$114$60$19
47 years$636$364$199$105$54$16
48 years$616$348$187$97$49$14
49 years$597$332$176$90$45$13
50 years$578$317$165$83$41$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $592,000, adding $5,446 every year, while hoping to spend $21,975 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: 74/9/17 Blend
60$592,000$592,000$592,000$592,000
61$658,002$626,626$617,450$703,749
62$701,736$633,949$614,753$742,113
63$749,196$640,895$611,229$780,915
64$800,736$647,421$606,828$822,853
65$856,750$653,484$601,496$868,234
66$917,670$659,035$595,176$917,396
67$983,969$664,024$587,812$970,710
68$1,056,170$668,398$579,340$1,028,587
69$1,134,849$672,100$569,698$1,091,479
70$1,220,638$675,067$558,817$1,159,885
71$1,314,234$677,236$546,628$1,234,355
72$1,416,403$678,537$533,057$1,315,493
73$1,527,989$678,898$518,027$1,403,968
74$1,649,920$678,241$501,458$1,500,517
75$1,783,220$676,483$483,265$1,605,949
76$1,929,014$673,537$463,360$1,721,160
77$2,088,543$669,309$441,651$1,847,137
78$2,263,170$663,701$418,043$1,984,965
79$2,454,400$656,609$392,434$2,135,844
80$2,663,887$647,921$364,719$2,301,094
81$2,893,455$637,521$334,788$2,482,171
82$3,145,112$625,283$302,527$2,680,682
83$3,421,067$611,076$267,816$2,898,396
84$3,723,758$594,760$230,530$3,137,263
85$4,055,865$576,188$190,537$3,399,435
86$4,420,345$555,203$147,701$3,687,283
87$4,820,451$531,639$101,880$4,003,419
88$5,259,769$505,321$52,925$4,350,725
89$5,742,248$476,064$680$4,732,376
90$6,272,238$443,672$0$5,151,874
91$6,854,532$407,937$0$5,623,068
92$7,494,409$368,641$0$6,141,002
93$8,197,686$325,552$0$6,710,274
94$8,970,772$278,426$0$7,336,087
95$9,820,725$227,003$0$8,024,173
96$10,755,323$171,011$0$8,780,848
97$11,783,137$110,161$0$9,613,075
98$12,913,607$44,148$0$10,528,521
99$14,157,135$0$0$11,535,641
100$15,525,183$0$0$12,646,457