Can I retire at age 61 with 593,000?

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 $593,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.1%
1 years$48,969$48,533$48,108$47,692$47,287$45,920
2 years$24,242$23,791$23,353$22,929$22,517$21,152
3 years$16,001$15,548$15,111$14,691$14,286$12,964
4 years$11,881$11,429$10,997$10,584$10,189$8,920
5 years$9,410$8,961$8,534$8,129$7,745$6,534
6 years$7,763$7,317$6,897$6,501$6,129$4,975
7 years$6,587$6,145$5,731$5,345$4,984$3,889
8 years$5,705$5,267$4,861$4,484$4,135$3,097
9 years$5,020$4,586$4,186$3,819$3,482$2,501
10 years$4,472$4,042$3,650$3,292$2,967$2,041
11 years$4,024$3,599$3,213$2,865$2,552$1,679
12 years$3,651$3,230$2,852$2,513$2,211$1,390
13 years$3,336$2,919$2,548$2,219$1,928$1,157
14 years$3,066$2,653$2,289$1,970$1,690$968
15 years$2,832$2,424$2,067$1,756$1,488$812
16 years$2,627$2,224$1,874$1,573$1,315$683
17 years$2,447$2,048$1,705$1,413$1,166$576
18 years$2,287$1,892$1,557$1,273$1,037$486
19 years$2,144$1,754$1,425$1,151$924$412
20 years$2,015$1,630$1,308$1,042$826$349
21 years$1,899$1,518$1,203$946$739$296
22 years$1,794$1,417$1,109$860$662$251
23 years$1,698$1,325$1,024$783$594$214
24 years$1,610$1,242$947$714$534$182
25 years$1,529$1,165$877$652$481$155
26 years$1,454$1,095$813$596$433$132
27 years$1,385$1,031$755$546$390$112
28 years$1,322$971$702$500$352$96
29 years$1,262$916$653$459$318$82
30 years$1,207$865$609$421$287$70
31 years$1,155$818$567$387$260$59
32 years$1,107$774$529$355$235$51
33 years$1,062$733$494$327$213$43
34 years$1,019$695$462$301$193$37
35 years$979$659$432$277$174$31
36 years$942$625$404$255$158$27
37 years$906$594$378$235$143$23
38 years$873$565$354$216$130$20
39 years$841$537$332$200$118$17
40 years$811$511$311$184$107$14
41 years$782$486$291$170$97$12
42 years$755$463$273$157$88$10
43 years$729$441$257$145$80$9
44 years$705$421$241$134$72$8
45 years$681$401$226$123$66$6
46 years$659$383$212$114$60$6
47 years$637$365$200$105$54$5
48 years$617$348$188$97$49$4
49 years$598$333$176$90$45$3
50 years$579$318$166$83$41$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $593,000, adding $4,174 every year, while hoping to spend $26,149 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: 41/34/25 Blend
60$593,000$593,000$593,000$593,000
61$657,791$626,362$617,171$679,775
62$697,064$629,232$610,024$698,844
63$739,466$631,366$601,761$716,687
64$785,288$632,700$592,317$735,487
65$834,853$633,167$581,625$755,347
66$888,510$632,695$569,612$776,383
67$946,649$631,208$556,205$798,723
68$1,009,695$628,624$541,325$822,511
69$1,078,115$624,858$524,891$847,906
70$1,152,426$619,819$506,818$875,087
71$1,233,193$613,410$487,016$904,252
72$1,321,040$605,528$465,392$935,622
73$1,416,652$596,065$441,848$969,443
74$1,520,783$584,905$416,283$1,005,989
75$1,634,265$571,927$388,590$1,045,563
76$1,758,010$557,002$358,658$1,088,504
77$1,893,024$539,992$326,370$1,135,187
78$2,040,414$520,753$291,605$1,186,030
79$2,201,398$499,132$254,236$1,241,496
80$2,377,318$474,967$214,130$1,302,098
81$2,569,650$448,086$171,149$1,368,407
82$2,780,020$418,308$125,148$1,441,056
83$3,010,219$385,441$75,977$1,520,746
84$3,262,216$349,283$23,477$1,608,256
85$3,538,183$309,619$0$1,704,446
86$3,840,511$266,223$0$1,818,954
87$4,171,831$218,856$0$1,951,403
88$4,535,042$167,264$0$2,096,745
89$4,933,338$111,182$0$2,256,325
90$5,370,236$50,327$0$2,431,631
91$5,849,609$0$0$2,624,309
92$6,375,723$0$0$2,842,008
93$6,953,279$0$0$3,101,741
94$7,587,453$0$0$3,387,017
95$8,283,949$0$0$3,700,411
96$9,049,049$0$0$4,044,762
97$9,889,673$0$0$4,423,193
98$10,813,445$0$0$4,839,150
99$11,828,766$0$0$5,296,425
100$12,944,889$0$0$5,799,198