Can I retire at age 61 with 598,000?

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 $598,000?

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$49,382$48,942$48,513$48,094$47,685$46,992
2 years$24,447$23,991$23,550$23,122$22,707$22,010
3 years$16,136$15,679$15,238$14,815$14,406$13,727
4 years$11,981$11,525$11,090$10,673$10,275$9,619
5 years$9,489$9,036$8,606$8,198$7,811$7,180
6 years$7,828$7,379$6,955$6,556$6,180$5,575
7 years$6,643$6,197$5,780$5,390$5,026$4,447
8 years$5,754$5,312$4,902$4,522$4,170$3,617
9 years$5,062$4,625$4,222$3,851$3,512$2,984
10 years$4,510$4,076$3,681$3,320$2,992$2,490
11 years$4,058$3,629$3,240$2,889$2,573$2,096
12 years$3,682$3,257$2,876$2,534$2,230$1,777
13 years$3,364$2,944$2,569$2,237$1,945$1,515
14 years$3,091$2,676$2,308$1,986$1,705$1,298
15 years$2,856$2,444$2,084$1,771$1,501$1,116
16 years$2,649$2,243$1,890$1,586$1,326$963
17 years$2,468$2,065$1,720$1,425$1,176$834
18 years$2,306$1,908$1,570$1,284$1,046$723
19 years$2,162$1,769$1,437$1,160$932$629
20 years$2,032$1,644$1,319$1,051$833$548
21 years$1,915$1,531$1,213$954$745$477
22 years$1,809$1,429$1,118$867$668$417
23 years$1,712$1,337$1,032$790$599$365
24 years$1,623$1,252$955$720$539$319
25 years$1,542$1,175$884$658$485$279
26 years$1,467$1,105$820$602$437$245
27 years$1,397$1,039$762$551$394$215
28 years$1,333$979$708$504$355$188
29 years$1,273$924$659$463$321$165
30 years$1,217$873$614$425$290$145
31 years$1,165$825$572$390$262$128
32 years$1,117$781$534$358$237$112
33 years$1,071$739$498$330$215$99
34 years$1,028$701$466$303$194$87
35 years$988$665$435$279$176$76
36 years$950$631$407$257$159$67
37 years$914$599$381$237$144$59
38 years$880$569$357$218$131$52
39 years$848$541$334$201$119$46
40 years$818$515$313$186$108$40
41 years$789$490$294$171$98$35
42 years$761$467$276$158$89$31
43 years$735$445$259$146$80$28
44 years$711$424$243$135$73$24
45 years$687$404$228$124$66$21
46 years$664$386$214$115$60$19
47 years$643$368$201$106$55$17
48 years$622$351$189$98$50$15
49 years$603$336$178$91$45$13
50 years$584$321$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 $598,000, adding $5,491 every year, while hoping to spend $48,000 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: 85/9/6 Blend
60$598,000$598,000$598,000$598,000
61$664,660$632,966$623,697$720,493
62$681,384$612,910$593,519$737,677
63$698,204$590,262$560,722$749,411
64$715,081$564,845$525,166$760,769
65$731,968$536,471$486,708$771,683
66$748,812$504,941$445,195$782,074
67$765,552$470,044$400,471$791,856
68$782,122$431,560$352,370$800,936
69$798,443$389,251$300,719$809,207
70$814,431$342,871$245,340$816,556
71$829,987$292,156$186,043$822,855
72$845,004$236,830$122,633$827,964
73$859,359$176,599$54,906$831,728
74$872,914$111,153$0$833,977
75$885,519$40,167$0$835,636
76$897,001$0$0$839,209
77$907,172$0$0$844,600
78$915,818$0$0$852,536
79$922,703$0$0$858,819
80$927,565$0$0$863,200
81$930,112$0$0$865,408
82$930,018$0$0$865,136
83$926,923$0$0$862,048
84$920,427$0$0$855,768
85$910,085$0$0$845,880
86$895,406$0$0$831,922
87$875,843$0$0$813,382
88$850,791$0$0$789,695
89$819,581$0$0$760,232
90$781,470$0$0$724,299
91$735,638$0$0$681,126
92$681,177$0$0$629,862
93$617,082$0$0$569,566
94$542,242$0$0$499,196
95$455,428$0$0$417,603
96$355,281$0$0$323,512
97$240,302$0$0$215,519
98$108,832$0$0$92,069
99$0$0$0$0
100$0$0$0$0