Can I retire at age 61 with 594,000?

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 $594,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$49,052$48,615$48,189$47,773$47,366$46,930
2 years$24,283$23,831$23,393$22,968$22,555$22,116
3 years$16,028$15,574$15,137$14,716$14,310$13,881
4 years$11,901$11,448$11,016$10,602$10,206$9,791
5 years$9,426$8,976$8,549$8,143$7,758$7,358
6 years$7,776$7,329$6,908$6,512$6,139$5,754
7 years$6,598$6,155$5,741$5,354$4,993$4,623
8 years$5,715$5,276$4,869$4,491$4,142$3,788
9 years$5,029$4,594$4,193$3,826$3,488$3,149
10 years$4,480$4,049$3,656$3,298$2,972$2,649
11 years$4,031$3,605$3,219$2,870$2,556$2,248
12 years$3,657$3,235$2,856$2,517$2,215$1,921
13 years$3,341$2,924$2,552$2,222$1,932$1,652
14 years$3,071$2,658$2,293$1,973$1,693$1,428
15 years$2,836$2,428$2,070$1,759$1,491$1,239
16 years$2,632$2,228$1,877$1,575$1,318$1,079
17 years$2,451$2,051$1,708$1,415$1,168$942
18 years$2,291$1,896$1,559$1,276$1,039$825
19 years$2,148$1,757$1,427$1,153$926$724
20 years$2,019$1,633$1,310$1,044$827$636
21 years$1,902$1,521$1,205$947$740$560
22 years$1,797$1,420$1,111$861$663$494
23 years$1,701$1,328$1,025$785$595$436
24 years$1,612$1,244$948$716$535$386
25 years$1,531$1,167$878$653$482$341
26 years$1,457$1,097$815$597$434$302
27 years$1,388$1,033$756$547$391$268
28 years$1,324$973$703$501$353$238
29 years$1,264$918$654$460$319$211
30 years$1,209$867$610$422$288$187
31 years$1,157$819$568$387$260$166
32 years$1,109$775$530$356$235$148
33 years$1,064$734$495$327$213$131
34 years$1,021$696$463$301$193$117
35 years$981$660$432$277$175$104
36 years$943$626$405$255$158$92
37 years$908$595$379$235$144$82
38 years$874$565$355$217$130$73
39 years$842$538$332$200$118$65
40 years$812$512$311$184$107$58
41 years$783$487$292$170$97$52
42 years$756$464$274$157$88$46
43 years$730$442$257$145$80$41
44 years$706$421$241$134$73$36
45 years$682$402$227$124$66$32
46 years$660$383$213$114$60$29
47 years$639$366$200$105$54$26
48 years$618$349$188$97$49$23
49 years$599$333$177$90$45$20
50 years$580$318$166$83$41$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $594,000, adding $3,418 every year, while hoping to spend $28,501 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: 87/7/6 Blend
60$594,000$594,000$594,000$594,000
61$658,114$626,632$617,425$714,928
62$694,916$627,012$607,784$752,830
63$734,518$626,455$596,864$790,170
64$777,173$624,886$584,594$830,282
65$823,163$622,224$570,896$873,425
66$872,796$618,383$555,691$919,884
67$926,409$613,272$538,895$969,970
68$984,376$606,795$520,421$1,024,029
69$1,047,105$598,851$500,177$1,082,439
70$1,115,045$589,330$478,069$1,145,618
71$1,188,691$578,118$453,996$1,214,025
72$1,268,586$565,095$427,853$1,288,165
73$1,355,328$550,130$399,532$1,368,595
74$1,449,573$533,089$368,919$1,455,929
75$1,552,046$513,827$335,894$1,550,842
76$1,663,542$492,191$300,333$1,654,078
77$1,784,936$468,021$262,107$1,766,457
78$1,917,190$441,145$221,078$1,888,880
79$2,061,366$411,383$177,107$2,022,343
80$2,218,629$378,545$130,043$2,167,940
81$2,390,263$342,428$79,734$2,326,878
82$2,577,683$302,819$26,018$2,500,488
83$2,782,443$259,494$0$2,690,232
84$3,006,256$212,213$0$2,899,731
85$3,251,008$160,726$0$3,130,665
86$3,518,776$104,766$0$3,383,338
87$3,811,845$44,054$0$3,659,921
88$4,132,733$0$0$3,962,807
89$4,484,212$0$0$4,296,303
90$4,869,335$0$0$4,665,445
91$5,291,465$0$0$5,070,063
92$5,754,303$0$0$5,513,708
93$6,261,929$0$0$6,000,289
94$6,818,834$0$0$6,534,113
95$7,429,967$0$0$7,119,924
96$8,100,777$0$0$7,762,947
97$8,837,267$0$0$8,468,937
98$9,646,051$0$0$9,244,234
99$10,534,414$0$0$10,095,822
100$11,510,380$0$0$11,031,396