Can I retire at age 61 with 597,000?

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 $597,000?

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$49,300$48,861$48,432$48,014$47,606$46,914
2 years$24,406$23,951$23,511$23,084$22,669$21,974
3 years$16,109$15,652$15,213$14,790$14,382$13,704
4 years$11,961$11,506$11,071$10,655$10,258$9,603
5 years$9,473$9,021$8,592$8,184$7,798$7,168
6 years$7,815$7,366$6,943$6,545$6,170$5,566
7 years$6,631$6,186$5,770$5,381$5,018$4,440
8 years$5,744$5,303$4,893$4,514$4,163$3,611
9 years$5,054$4,617$4,215$3,845$3,506$2,979
10 years$4,502$4,070$3,674$3,314$2,987$2,486
11 years$4,051$3,623$3,235$2,885$2,569$2,092
12 years$3,676$3,252$2,871$2,530$2,226$1,774
13 years$3,358$2,939$2,565$2,234$1,941$1,512
14 years$3,086$2,671$2,305$1,983$1,702$1,296
15 years$2,851$2,440$2,081$1,768$1,498$1,115
16 years$2,645$2,239$1,887$1,583$1,324$962
17 years$2,463$2,062$1,717$1,423$1,174$832
18 years$2,302$1,905$1,567$1,282$1,044$722
19 years$2,158$1,766$1,435$1,158$931$628
20 years$2,029$1,641$1,317$1,049$831$547
21 years$1,912$1,528$1,211$952$744$477
22 years$1,806$1,427$1,116$866$667$416
23 years$1,709$1,334$1,031$788$598$364
24 years$1,621$1,250$953$719$538$318
25 years$1,539$1,173$883$657$484$279
26 years$1,464$1,103$819$601$436$244
27 years$1,395$1,038$760$550$393$214
28 years$1,331$978$707$504$355$188
29 years$1,271$922$658$462$320$165
30 years$1,215$871$613$424$289$145
31 years$1,163$824$571$389$262$127
32 years$1,115$779$533$358$237$112
33 years$1,069$738$498$329$214$99
34 years$1,026$699$465$303$194$87
35 years$986$663$435$279$176$76
36 years$948$630$407$257$159$67
37 years$912$598$381$236$144$59
38 years$879$568$356$218$131$52
39 years$847$540$334$201$119$46
40 years$816$514$313$185$108$40
41 years$787$489$293$171$98$35
42 years$760$466$275$158$89$31
43 years$734$444$258$146$80$27
44 years$709$423$242$135$73$24
45 years$686$404$228$124$66$21
46 years$663$385$214$115$60$19
47 years$642$368$201$106$55$17
48 years$621$351$189$98$50$15
49 years$602$335$177$91$45$13
50 years$583$320$167$84$41$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $597,000, adding $2,621 every year, while hoping to spend $39,455 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: 28/50/22 Blend
60$597,000$597,000$597,000$597,000
61$660,598$628,957$619,703$674,460
62$685,999$617,796$598,483$674,320
63$712,668$604,765$575,230$670,507
64$740,694$589,733$549,834$665,578
65$770,172$572,556$522,181$659,463
66$801,205$553,087$492,149$652,086
67$833,906$531,167$459,615$643,372
68$868,399$506,628$424,446$633,242
69$904,817$479,295$386,506$621,613
70$943,307$448,979$345,653$608,399
71$984,028$415,482$301,736$593,512
72$1,027,155$378,597$254,600$576,861
73$1,072,877$338,100$204,081$558,351
74$1,121,403$293,760$150,011$537,886
75$1,172,960$245,328$92,210$515,365
76$1,227,797$192,544$30,494$490,688
77$1,286,186$135,132$0$463,748
78$1,348,424$72,801$0$442,743
79$1,414,839$5,244$0$427,440
80$1,485,788$0$0$410,613
81$1,561,663$0$0$429,542
82$1,642,893$0$0$452,958
83$1,729,950$0$0$478,120
84$1,823,351$0$0$505,186
85$1,923,661$0$0$534,329
86$2,031,505$0$0$565,739
87$2,147,566$0$0$599,626
88$2,272,593$0$0$636,219
89$2,407,412$0$0$675,771
90$2,552,926$0$0$718,558
91$2,710,132$0$0$764,887
92$2,880,123$0$0$815,092
93$3,064,099$0$0$869,541
94$3,263,383$0$0$928,641
95$3,479,426$0$0$992,836
96$3,713,825$0$0$1,062,618
97$3,968,337$0$0$1,138,526
98$4,244,895$0$0$1,221,153
99$4,545,622$0$0$1,311,153
100$4,872,857$0$0$1,409,244