Can I retire at age 61 with 598,000?

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 $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%11%
1 years$49,382$48,942$48,513$48,094$47,685$47,484
2 years$24,447$23,991$23,550$23,122$22,707$22,504
3 years$16,136$15,679$15,238$14,815$14,406$14,208
4 years$11,981$11,525$11,090$10,673$10,275$10,082
5 years$9,489$9,036$8,606$8,198$7,811$7,625
6 years$7,828$7,379$6,955$6,556$6,180$6,001
7 years$6,643$6,197$5,780$5,390$5,026$4,854
8 years$5,754$5,312$4,902$4,522$4,170$4,004
9 years$5,062$4,625$4,222$3,851$3,512$3,352
10 years$4,510$4,076$3,681$3,320$2,992$2,840
11 years$4,058$3,629$3,240$2,889$2,573$2,427
12 years$3,682$3,257$2,876$2,534$2,230$2,091
13 years$3,364$2,944$2,569$2,237$1,945$1,812
14 years$3,091$2,676$2,308$1,986$1,705$1,578
15 years$2,856$2,444$2,084$1,771$1,501$1,380
16 years$2,649$2,243$1,890$1,586$1,326$1,212
17 years$2,468$2,065$1,720$1,425$1,176$1,067
18 years$2,306$1,908$1,570$1,284$1,046$942
19 years$2,162$1,769$1,437$1,160$932$834
20 years$2,032$1,644$1,319$1,051$833$740
21 years$1,915$1,531$1,213$954$745$657
22 years$1,809$1,429$1,118$867$668$585
23 years$1,712$1,337$1,032$790$599$521
24 years$1,623$1,252$955$720$539$465
25 years$1,542$1,175$884$658$485$415
26 years$1,467$1,105$820$602$437$371
27 years$1,397$1,039$762$551$394$332
28 years$1,333$979$708$504$355$297
29 years$1,273$924$659$463$321$266
30 years$1,217$873$614$425$290$239
31 years$1,165$825$572$390$262$214
32 years$1,117$781$534$358$237$192
33 years$1,071$739$498$330$215$172
34 years$1,028$701$466$303$194$155
35 years$988$665$435$279$176$139
36 years$950$631$407$257$159$125
37 years$914$599$381$237$144$112
38 years$880$569$357$218$131$101
39 years$848$541$334$201$119$91
40 years$818$515$313$186$108$82
41 years$789$490$294$171$98$73
42 years$761$467$276$158$89$66
43 years$735$445$259$146$80$59
44 years$711$424$243$135$73$53
45 years$687$404$228$124$66$48
46 years$664$386$214$115$60$43
47 years$643$368$201$106$55$39
48 years$622$351$189$98$50$35
49 years$603$336$178$91$45$32
50 years$584$321$167$84$41$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $598,000, adding $3,627 every year, while hoping to spend $45,518 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: 60/30/10 Blend
60$598,000$598,000$598,000$598,000
61$662,737$631,043$621,774$700,755
62$681,906$613,534$594,173$709,201
63$701,504$593,640$564,121$712,914
64$721,527$571,199$531,489$715,843
65$741,970$546,034$496,141$717,916
66$762,823$517,962$457,934$719,054
67$784,076$486,788$416,721$719,173
68$805,716$452,305$372,345$718,185
69$827,725$414,294$324,645$715,991
70$850,084$372,525$273,451$712,490
71$872,769$326,755$218,587$707,569
72$895,750$276,725$159,869$701,111
73$918,995$222,163$97,103$692,988
74$942,466$162,782$30,089$683,064
75$966,116$98,277$0$671,191
76$989,897$28,329$0$661,633
77$1,013,747$0$0$653,514
78$1,037,602$0$0$659,111
79$1,061,383$0$0$673,987
80$1,085,006$0$0$688,730
81$1,108,372$0$0$703,277
82$1,131,371$0$0$717,552
83$1,153,879$0$0$731,473
84$1,175,758$0$0$744,948
85$1,196,849$0$0$757,871
86$1,216,979$0$0$770,126
87$1,235,950$0$0$781,582
88$1,253,544$0$0$792,093
89$1,269,516$0$0$801,495
90$1,283,592$0$0$809,608
91$1,295,468$0$0$816,229
92$1,304,806$0$0$821,133
93$1,311,228$0$0$824,069
94$1,314,315$0$0$824,758
95$1,313,601$0$0$822,891
96$1,308,569$0$0$818,126
97$1,298,644$0$0$810,080
98$1,283,190$0$0$798,331
99$1,261,500$0$0$782,412
100$1,232,792$0$0$761,802