Can I retire at age 61 with 595,000?

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 $595,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$49,135$48,697$48,270$47,853$47,446$47,108
2 years$24,324$23,871$23,432$23,006$22,593$22,252
3 years$16,055$15,600$15,162$14,740$14,334$14,001
4 years$11,921$11,468$11,034$10,620$10,223$9,900
5 years$9,442$8,991$8,563$8,157$7,772$7,460
6 years$7,789$7,342$6,920$6,523$6,149$5,849
7 years$6,609$6,165$5,751$5,363$5,001$4,713
8 years$5,725$5,285$4,877$4,499$4,149$3,872
9 years$5,037$4,602$4,201$3,832$3,494$3,229
10 years$4,487$4,056$3,662$3,303$2,977$2,724
11 years$4,038$3,611$3,224$2,875$2,560$2,318
12 years$3,663$3,241$2,861$2,522$2,219$1,988
13 years$3,347$2,929$2,556$2,226$1,935$1,715
14 years$3,076$2,662$2,297$1,976$1,696$1,487
15 years$2,841$2,432$2,074$1,762$1,493$1,294
16 years$2,636$2,231$1,880$1,578$1,320$1,131
17 years$2,455$2,055$1,711$1,418$1,170$991
18 years$2,295$1,899$1,562$1,278$1,041$871
19 years$2,151$1,760$1,430$1,155$927$767
20 years$2,022$1,635$1,312$1,046$828$677
21 years$1,906$1,523$1,207$949$741$598
22 years$1,800$1,422$1,112$863$664$530
23 years$1,703$1,330$1,027$786$596$469
24 years$1,615$1,246$950$717$536$417
25 years$1,534$1,169$880$655$482$370
26 years$1,459$1,099$816$599$435$329
27 years$1,390$1,034$758$548$392$293
28 years$1,326$975$704$502$354$261
29 years$1,267$919$655$460$319$232
30 years$1,211$868$611$422$288$207
31 years$1,159$821$569$388$261$184
32 years$1,111$777$531$357$236$165
33 years$1,066$735$496$328$213$147
34 years$1,023$697$463$302$193$131
35 years$983$661$433$278$175$117
36 years$945$628$405$256$159$105
37 years$909$596$379$236$144$93
38 years$876$566$355$217$130$84
39 years$844$539$333$200$118$75
40 years$813$512$312$185$107$67
41 years$785$488$292$170$97$60
42 years$758$465$274$157$88$53
43 years$732$443$257$145$80$48
44 years$707$422$242$134$73$43
45 years$683$402$227$124$66$38
46 years$661$384$213$114$60$34
47 years$640$366$200$106$54$31
48 years$619$350$188$98$49$27
49 years$600$334$177$90$45$24
50 years$581$319$166$83$41$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $595,000, adding $6,751 every year, while hoping to spend $43,824 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: 52/35/13 Blend
60$595,000$595,000$595,000$595,000
61$662,654$631,119$621,896$694,478
62$683,616$615,415$596,101$701,254
63$705,248$597,473$567,973$703,393
64$727,571$577,137$537,388$704,722
65$750,608$554,242$504,216$705,177
66$774,383$528,613$468,320$704,689
67$798,920$500,065$429,559$703,184
68$824,245$468,403$387,784$700,587
69$850,383$433,421$342,841$696,815
70$877,363$394,899$294,567$691,783
71$905,213$352,607$242,793$685,399
72$933,961$306,302$187,343$677,566
73$963,639$255,725$128,033$668,184
74$994,278$200,603$64,670$657,145
75$1,025,912$140,649$0$644,334
76$1,058,573$75,560$0$630,041
77$1,092,299$5,014$0$623,331
78$1,127,126$0$0$615,119
79$1,163,093$0$0$632,769
80$1,200,240$0$0$652,993
81$1,238,609$0$0$673,884
82$1,278,244$0$0$695,466
83$1,319,190$0$0$717,764
84$1,361,496$0$0$740,804
85$1,405,211$0$0$764,614
86$1,450,388$0$0$789,222
87$1,497,080$0$0$814,659
88$1,545,347$0$0$840,955
89$1,595,246$0$0$868,145
90$1,646,842$0$0$896,263
91$1,700,200$0$0$925,345
92$1,755,391$0$0$955,430
93$1,812,487$0$0$986,558
94$1,871,565$0$0$1,018,772
95$1,932,706$0$0$1,052,116
96$1,995,996$0$0$1,086,639
97$2,061,526$0$0$1,122,390
98$2,129,391$0$0$1,159,422
99$2,199,692$0$0$1,197,793
100$2,272,537$0$0$1,237,560