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%15.3%
1 years$49,052$48,615$48,189$47,773$47,366$46,334
2 years$24,283$23,831$23,393$22,968$22,555$21,521
3 years$16,028$15,574$15,137$14,716$14,310$13,305
4 years$11,901$11,448$11,016$10,602$10,206$9,239
5 years$9,426$8,976$8,549$8,143$7,758$6,831
6 years$7,776$7,329$6,908$6,512$6,139$5,253
7 years$6,598$6,155$5,741$5,354$4,993$4,148
8 years$5,715$5,276$4,869$4,491$4,142$3,339
9 years$5,029$4,594$4,193$3,826$3,488$2,725
10 years$4,480$4,049$3,656$3,298$2,972$2,249
11 years$4,031$3,605$3,219$2,870$2,556$1,872
12 years$3,657$3,235$2,856$2,517$2,215$1,568
13 years$3,341$2,924$2,552$2,222$1,932$1,321
14 years$3,071$2,658$2,293$1,973$1,693$1,118
15 years$2,836$2,428$2,070$1,759$1,491$950
16 years$2,632$2,228$1,877$1,575$1,318$810
17 years$2,451$2,051$1,708$1,415$1,168$692
18 years$2,291$1,896$1,559$1,276$1,039$592
19 years$2,148$1,757$1,427$1,153$926$508
20 years$2,019$1,633$1,310$1,044$827$436
21 years$1,902$1,521$1,205$947$740$375
22 years$1,797$1,420$1,111$861$663$323
23 years$1,701$1,328$1,025$785$595$279
24 years$1,612$1,244$948$716$535$241
25 years$1,531$1,167$878$653$482$208
26 years$1,457$1,097$815$597$434$179
27 years$1,388$1,033$756$547$391$155
28 years$1,324$973$703$501$353$134
29 years$1,264$918$654$460$319$116
30 years$1,209$867$610$422$288$100
31 years$1,157$819$568$387$260$87
32 years$1,109$775$530$356$235$75
33 years$1,064$734$495$327$213$65
34 years$1,021$696$463$301$193$56
35 years$981$660$432$277$175$49
36 years$943$626$405$255$158$42
37 years$908$595$379$235$144$37
38 years$874$565$355$217$130$32
39 years$842$538$332$200$118$28
40 years$812$512$311$184$107$24
41 years$783$487$292$170$97$21
42 years$756$464$274$157$88$18
43 years$730$442$257$145$80$16
44 years$706$421$241$134$73$14
45 years$682$402$227$124$66$12
46 years$660$383$213$114$60$10
47 years$639$366$200$105$54$9
48 years$618$349$188$97$49$8
49 years$599$333$177$90$45$7
50 years$580$318$166$83$41$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $594,000, adding $4,913 every year, while hoping to spend $31,812 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: 40/36/24 Blend
60$594,000$594,000$594,000$594,000
61$659,656$628,174$618,967$681,191
62$693,093$625,107$605,854$694,107
63$728,874$620,823$591,237$704,707
64$767,206$615,229$575,029$715,544
65$808,313$608,228$557,145$726,659
66$852,442$599,712$537,491$738,099
67$899,866$589,573$515,971$749,917
68$950,882$577,692$492,486$762,175
69$1,005,818$563,944$466,930$774,945
70$1,065,032$548,198$439,192$788,308
71$1,128,919$530,314$409,159$802,358
72$1,197,913$510,144$376,711$817,199
73$1,272,491$487,531$341,722$832,951
74$1,353,176$462,312$304,060$849,751
75$1,440,545$434,309$263,591$867,753
76$1,535,229$403,339$220,169$887,130
77$1,637,925$369,205$173,648$908,078
78$1,749,398$331,701$123,870$930,819
79$1,870,490$290,608$70,673$955,599
80$2,002,127$245,695$13,888$982,699
81$2,145,328$196,717$0$1,012,431
82$2,301,213$143,418$0$1,057,108
83$2,471,016$85,525$0$1,109,735
84$2,656,094$22,750$0$1,167,239
85$2,857,940$0$0$1,230,166
86$3,078,199$0$0$1,317,027
87$3,318,680$0$0$1,421,776
88$3,581,375$0$0$1,536,277
89$3,868,477$0$0$1,661,496
90$4,182,400$0$0$1,798,496
91$4,525,802$0$0$1,948,447
92$4,901,610$0$0$2,112,637
93$5,313,047$0$0$2,292,487
94$5,763,663$0$0$2,489,559
95$6,257,364$0$0$2,705,574
96$6,798,456$0$0$2,942,428
97$7,391,679$0$0$3,202,209
98$8,042,254$0$0$3,487,217
99$8,755,931$0$0$3,799,985
100$9,539,044$0$0$4,143,303