Can I retire at age 61 with 601,000?

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 $601,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$49,630$49,188$48,757$48,336$47,925$47,503
2 years$24,569$24,112$23,668$23,238$22,821$22,397
3 years$16,217$15,757$15,315$14,889$14,479$14,064
4 years$12,041$11,583$11,145$10,727$10,326$9,925
5 years$9,537$9,081$8,649$8,239$7,850$7,463
6 years$7,868$7,416$6,990$6,589$6,211$5,839
7 years$6,676$6,228$5,809$5,417$5,052$4,694
8 years$5,782$5,338$4,926$4,544$4,191$3,848
9 years$5,088$4,648$4,243$3,871$3,529$3,201
10 years$4,533$4,097$3,699$3,337$3,007$2,694
11 years$4,078$3,647$3,257$2,904$2,586$2,287
12 years$3,700$3,274$2,890$2,547$2,241$1,956
13 years$3,381$2,958$2,582$2,249$1,954$1,683
14 years$3,107$2,689$2,320$1,996$1,713$1,456
15 years$2,870$2,456$2,095$1,780$1,508$1,264
16 years$2,663$2,254$1,899$1,594$1,333$1,101
17 years$2,480$2,076$1,728$1,432$1,182$963
18 years$2,318$1,918$1,578$1,291$1,051$843
19 years$2,173$1,778$1,444$1,166$937$741
20 years$2,043$1,652$1,325$1,056$837$652
21 years$1,925$1,539$1,219$959$749$574
22 years$1,818$1,436$1,124$872$671$507
23 years$1,721$1,343$1,037$794$602$448
24 years$1,631$1,259$959$724$542$396
25 years$1,549$1,181$889$661$487$351
26 years$1,474$1,110$824$605$439$311
27 years$1,404$1,045$765$553$396$276
28 years$1,339$984$711$507$357$245
29 years$1,279$929$662$465$322$217
30 years$1,223$877$617$427$291$193
31 years$1,171$829$575$392$263$172
32 years$1,122$784$536$360$238$153
33 years$1,076$743$501$331$216$136
34 years$1,033$704$468$305$195$121
35 years$993$668$438$281$177$107
36 years$955$634$409$258$160$96
37 years$918$602$383$238$145$85
38 years$884$572$359$219$132$76
39 years$852$544$336$202$119$68
40 years$822$518$315$187$108$60
41 years$793$493$295$172$98$54
42 years$765$469$277$159$89$48
43 years$739$447$260$147$81$43
44 years$714$426$244$135$73$38
45 years$690$406$229$125$67$34
46 years$668$388$215$116$61$30
47 years$646$370$202$107$55$27
48 years$625$353$190$99$50$24
49 years$606$337$179$91$45$21
50 years$587$322$168$84$41$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $601,000, adding $4,569 every year, while hoping to spend $38,125 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: 33/49/18 Blend
60$601,000$601,000$601,000$601,000
61$667,015$635,162$625,846$685,172
62$694,486$625,720$606,248$689,547
63$723,481$614,538$584,714$690,419
64$754,115$601,490$561,142$690,552
65$786,515$586,443$535,420$689,902
66$820,817$569,256$507,434$688,425
67$857,171$549,780$477,064$686,077
68$895,742$527,859$444,185$682,814
69$936,707$503,323$408,664$678,590
70$980,263$475,998$370,367$673,361
71$1,026,625$445,697$329,149$667,082
72$1,076,026$412,221$284,860$659,709
73$1,128,723$375,363$237,346$651,200
74$1,184,998$334,901$186,443$641,512
75$1,245,160$290,603$131,980$630,607
76$1,309,546$242,222$73,781$618,448
77$1,378,526$189,498$11,659$605,002
78$1,452,508$132,155$0$590,239
79$1,531,937$69,904$0$584,628
80$1,617,303$2,438$0$580,729
81$1,709,143$0$0$576,329
82$1,808,048$0$0$609,517
83$1,914,665$0$0$646,777
84$2,029,706$0$0$687,053
85$2,153,953$0$0$730,628
86$2,288,265$0$0$777,813
87$2,433,588$0$0$828,950
88$2,590,959$0$0$884,414
89$2,761,520$0$0$944,619
90$2,946,526$0$0$1,010,019
91$3,147,358$0$0$1,081,116
92$3,365,533$0$0$1,158,459
93$3,602,723$0$0$1,242,654
94$3,860,764$0$0$1,334,366
95$4,141,677$0$0$1,434,330
96$4,447,688$0$0$1,543,351
97$4,781,245$0$0$1,662,318
98$5,145,040$0$0$1,792,208
99$5,542,041$0$0$1,934,098
100$5,975,509$0$0$2,089,172