Can I retire at age 61 with 605,000?

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 $605,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.5%
1 years$49,960$49,515$49,081$48,657$48,244$46,587
2 years$24,733$24,272$23,826$23,393$22,973$21,321
3 years$16,325$15,862$15,417$14,988$14,575$12,980
4 years$12,122$11,660$11,220$10,798$10,395$8,868
5 years$9,600$9,142$8,707$8,294$7,902$6,448
6 years$7,920$7,465$7,036$6,633$6,253$4,872
7 years$6,720$6,269$5,847$5,453$5,085$3,778
8 years$5,821$5,374$4,959$4,575$4,219$2,984
9 years$5,122$4,679$4,271$3,896$3,553$2,389
10 years$4,563$4,124$3,724$3,359$3,027$1,932
11 years$4,106$3,672$3,278$2,923$2,603$1,576
12 years$3,725$3,295$2,909$2,564$2,256$1,293
13 years$3,403$2,978$2,599$2,264$1,967$1,066
14 years$3,128$2,707$2,336$2,009$1,725$883
15 years$2,889$2,473$2,109$1,792$1,518$733
16 years$2,680$2,269$1,912$1,605$1,342$610
17 years$2,497$2,089$1,740$1,442$1,190$510
18 years$2,333$1,931$1,588$1,299$1,058$426
19 years$2,187$1,789$1,454$1,174$943$357
20 years$2,056$1,663$1,334$1,063$842$299
21 years$1,938$1,549$1,227$965$754$251
22 years$1,830$1,446$1,131$877$676$211
23 years$1,732$1,352$1,044$799$607$177
24 years$1,642$1,267$966$729$545$149
25 years$1,560$1,189$895$666$491$126
26 years$1,484$1,117$830$609$442$106
27 years$1,414$1,052$770$557$398$89
28 years$1,348$991$716$510$359$75
29 years$1,288$935$667$468$325$63
30 years$1,232$883$621$430$293$53
31 years$1,179$835$579$394$265$45
32 years$1,130$790$540$363$240$38
33 years$1,083$748$504$333$217$32
34 years$1,040$709$471$307$197$27
35 years$999$672$440$282$178$23
36 years$961$638$412$260$161$19
37 years$925$606$386$240$146$16
38 years$890$576$361$221$133$14
39 years$858$548$338$204$120$12
40 years$827$521$317$188$109$10
41 years$798$496$297$173$99$8
42 years$770$472$279$160$90$7
43 years$744$450$262$148$81$6
44 years$719$429$246$136$74$5
45 years$695$409$231$126$67$4
46 years$672$390$217$116$61$4
47 years$650$372$204$107$55$3
48 years$630$356$191$99$50$2
49 years$610$340$180$92$46$2
50 years$591$324$169$85$41$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $605,000, adding $2,727 every year, while hoping to spend $42,270 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: 42/34/24 Blend
60$605,000$605,000$605,000$605,000
61$669,523$637,458$628,080$692,837
62$692,839$623,718$604,146$696,019
63$717,117$607,889$577,993$695,219
64$742,410$589,822$549,503$693,514
65$768,776$569,363$518,551$690,845
66$796,276$546,347$485,007$687,148
67$824,977$520,599$448,736$682,361
68$854,951$491,935$409,595$676,414
69$886,276$460,160$367,437$669,238
70$919,036$425,068$322,106$660,759
71$953,322$386,440$273,441$650,903
72$989,232$344,047$221,272$639,591
73$1,026,873$297,645$165,425$626,741
74$1,066,361$246,976$105,713$612,270
75$1,107,822$191,770$41,946$596,091
76$1,151,391$131,738$0$578,116
77$1,197,216$66,577$0$564,938
78$1,245,461$0$0$561,677
79$1,296,299$0$0$559,048
80$1,349,923$0$0$582,578
81$1,406,540$0$0$607,453
82$1,466,378$0$0$633,777
83$1,529,686$0$0$661,663
84$1,596,733$0$0$691,235
85$1,667,817$0$0$722,630
86$1,743,260$0$0$755,995
87$1,823,416$0$0$791,493
88$1,908,672$0$0$829,300
89$1,999,450$0$0$869,612
90$2,096,216$0$0$912,640
91$2,199,474$0$0$958,619
92$2,309,783$0$0$1,007,804
93$2,427,752$0$0$1,060,475
94$2,554,047$0$0$1,116,939
95$2,689,403$0$0$1,177,534
96$2,834,623$0$0$1,242,630
97$2,990,588$0$0$1,312,632
98$3,158,267$0$0$1,387,988
99$3,338,723$0$0$1,469,185
100$3,533,121$0$0$1,556,763