Can I retire at age 61 with 602,000?

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 $602,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$49,713$49,270$48,838$48,416$48,004$47,326
2 years$24,610$24,152$23,708$23,277$22,859$22,177
3 years$16,244$15,784$15,340$14,914$14,503$13,838
4 years$12,061$11,603$11,164$10,745$10,344$9,701
5 years$9,553$9,097$8,664$8,253$7,863$7,245
6 years$7,881$7,428$7,002$6,600$6,222$5,629
7 years$6,687$6,238$5,818$5,426$5,060$4,493
8 years$5,792$5,347$4,934$4,552$4,198$3,656
9 years$5,096$4,656$4,250$3,877$3,535$3,018
10 years$4,540$4,104$3,705$3,342$3,012$2,520
11 years$4,085$3,653$3,262$2,909$2,590$2,122
12 years$3,707$3,279$2,895$2,551$2,245$1,800
13 years$3,386$2,963$2,586$2,252$1,958$1,536
14 years$3,112$2,694$2,324$1,999$1,716$1,317
15 years$2,875$2,461$2,098$1,783$1,511$1,134
16 years$2,667$2,258$1,902$1,597$1,335$979
17 years$2,484$2,079$1,731$1,435$1,184$848
18 years$2,322$1,921$1,580$1,293$1,053$736
19 years$2,177$1,781$1,447$1,168$938$640
20 years$2,046$1,655$1,328$1,058$838$558
21 years$1,928$1,541$1,221$960$750$487
22 years$1,821$1,439$1,125$873$672$426
23 years$1,723$1,346$1,039$795$604$372
24 years$1,634$1,261$961$725$542$326
25 years$1,552$1,183$890$662$488$286
26 years$1,476$1,112$826$606$440$251
27 years$1,407$1,046$767$554$396$220
28 years$1,342$986$713$508$358$193
29 years$1,282$930$663$466$323$170
30 years$1,225$878$618$427$292$149
31 years$1,173$830$576$393$264$131
32 years$1,124$786$537$361$239$115
33 years$1,078$744$502$332$216$102
34 years$1,035$705$469$305$196$89
35 years$994$669$438$281$177$79
36 years$956$635$410$259$160$69
37 years$920$603$384$238$145$61
38 years$886$573$359$220$132$54
39 years$854$545$337$203$120$47
40 years$823$518$316$187$108$42
41 years$794$494$296$172$98$37
42 years$766$470$278$159$89$32
43 years$740$448$260$147$81$29
44 years$715$427$244$136$74$25
45 years$691$407$230$125$67$22
46 years$669$388$216$116$61$20
47 years$647$371$203$107$55$17
48 years$626$354$190$99$50$15
49 years$607$338$179$91$45$13
50 years$588$323$168$84$41$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $602,000, adding $3,858 every year, while hoping to spend $38,281 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: 66/10/24 Blend
60$602,000$602,000$602,000$602,000
61$667,384$635,478$626,147$707,053
62$694,726$625,885$606,392$724,622
63$723,574$614,540$584,692$739,134
64$754,042$601,315$560,942$754,122
65$786,252$586,077$535,032$769,633
66$820,339$568,685$506,845$785,723
67$856,451$548,988$476,261$802,452
68$894,748$526,827$443,155$819,890
69$935,405$502,035$407,394$838,114
70$978,616$474,434$368,841$857,212
71$1,024,590$443,836$327,352$877,281
72$1,073,557$410,043$282,778$898,431
73$1,125,769$372,845$234,960$920,784
74$1,181,503$332,019$183,736$944,476
75$1,241,059$287,331$128,934$969,662
76$1,304,770$238,533$70,377$996,511
77$1,373,000$185,364$7,877$1,025,214
78$1,446,145$127,546$0$1,055,984
79$1,524,644$64,788$0$1,104,122
80$1,608,976$0$0$1,157,960
81$1,699,668$0$0$1,216,181
82$1,797,297$0$0$1,286,558
83$1,902,499$0$0$1,362,423
84$2,015,970$0$0$1,444,282
85$2,138,478$0$0$1,532,692
86$2,270,863$0$0$1,628,264
87$2,414,050$0$0$1,731,671
88$2,569,056$0$0$1,843,650
89$2,737,000$0$0$1,965,015
90$2,919,109$0$0$2,096,659
91$3,116,736$0$0$2,239,563
92$3,331,368$0$0$2,394,809
93$3,564,638$0$0$2,563,584
94$3,818,346$0$0$2,747,196
95$4,094,472$0$0$2,947,084
96$4,395,191$0$0$3,164,830
97$4,722,902$0$0$3,402,176
98$5,080,239$0$0$3,661,039
99$5,470,107$0$0$3,943,529
100$5,895,699$0$0$4,251,968