Can I retire at age 61 with 599,000?

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 $599,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.4%
1 years$49,465$49,024$48,594$48,175$47,765$46,144
2 years$24,488$24,031$23,590$23,161$22,745$21,128
3 years$16,163$15,705$15,264$14,839$14,431$12,868
4 years$12,001$11,545$11,108$10,691$10,292$8,797
5 years$9,505$9,051$8,620$8,212$7,824$6,399
6 years$7,841$7,391$6,967$6,567$6,191$4,838
7 years$6,654$6,207$5,789$5,399$5,035$3,754
8 years$5,763$5,320$4,910$4,529$4,177$2,967
9 years$5,071$4,632$4,229$3,858$3,517$2,377
10 years$4,517$4,083$3,687$3,325$2,997$1,924
11 years$4,065$3,635$3,246$2,894$2,578$1,569
12 years$3,688$3,263$2,881$2,539$2,234$1,288
13 years$3,369$2,949$2,574$2,241$1,948$1,063
14 years$3,097$2,680$2,312$1,989$1,707$881
15 years$2,860$2,448$2,088$1,774$1,503$732
16 years$2,654$2,246$1,893$1,589$1,329$610
17 years$2,472$2,069$1,722$1,427$1,178$510
18 years$2,310$1,912$1,572$1,286$1,047$426
19 years$2,166$1,772$1,439$1,162$934$357
20 years$2,036$1,646$1,321$1,053$834$300
21 years$1,918$1,533$1,215$955$746$252
22 years$1,812$1,431$1,120$869$669$212
23 years$1,715$1,339$1,034$791$600$178
24 years$1,626$1,254$956$722$540$150
25 years$1,544$1,177$886$659$486$126
26 years$1,469$1,106$821$603$437$106
27 years$1,400$1,041$763$552$394$90
28 years$1,335$981$709$505$356$76
29 years$1,275$926$660$463$321$64
30 years$1,219$874$615$425$290$54
31 years$1,167$826$573$391$263$45
32 years$1,118$782$535$359$237$38
33 years$1,073$740$499$330$215$32
34 years$1,030$702$466$304$195$27
35 years$989$666$436$280$176$23
36 years$951$632$408$257$160$19
37 years$915$600$382$237$145$16
38 years$881$570$358$219$131$14
39 years$849$542$335$202$119$12
40 years$819$516$314$186$108$10
41 years$790$491$294$172$98$8
42 years$763$468$276$158$89$7
43 years$737$446$259$146$81$6
44 years$712$425$243$135$73$5
45 years$688$405$228$125$66$4
46 years$665$386$215$115$60$4
47 years$644$369$202$106$55$3
48 years$623$352$189$98$50$3
49 years$604$336$178$91$45$2
50 years$585$321$167$84$41$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $599,000, adding $5,601 every year, while hoping to spend $51,115 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: 50/30/20 Blend
60$599,000$599,000$599,000$599,000
61$665,875$634,128$624,844$695,195
62$679,409$610,815$591,390$692,756
63$692,609$584,646$555,103$684,417
64$705,389$555,427$515,832$674,274
65$717,650$522,954$473,424$662,177
66$729,281$487,009$427,714$647,962
67$740,159$447,364$378,534$631,454
68$750,146$403,776$325,706$612,465
69$759,088$355,988$269,044$590,791
70$766,814$303,730$208,356$566,212
71$773,132$246,716$143,439$538,491
72$777,830$184,644$74,082$507,374
73$780,671$117,193$66$472,583
74$781,392$44,029$0$433,820
75$779,701$0$0$407,604
76$775,274$0$0$389,479
77$767,750$0$0$384,146
78$756,731$0$0$376,850
79$741,774$0$0$367,345
80$722,389$0$0$355,361
81$698,033$0$0$340,597
82$668,105$0$0$322,719
83$631,938$0$0$301,361
84$588,796$0$0$276,115
85$537,865$0$0$246,529
86$478,242$0$0$212,108
87$408,931$0$0$172,298
88$328,831$0$0$126,493
89$236,724$0$0$74,019
90$131,264$0$0$14,133
91$10,964$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0