Can I retire at age 61 with 606,000?

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 $606,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$50,043$49,597$49,162$48,738$48,323$47,858
2 years$24,774$24,312$23,865$23,432$23,011$22,543
3 years$16,352$15,888$15,442$15,013$14,599$14,142
4 years$12,142$11,680$11,238$10,816$10,412$9,970
5 years$9,616$9,157$8,721$8,308$7,915$7,489
6 years$7,933$7,477$7,048$6,644$6,263$5,853
7 years$6,731$6,279$5,857$5,462$5,094$4,700
8 years$5,830$5,383$4,967$4,582$4,226$3,849
9 years$5,130$4,687$4,278$3,903$3,559$3,198
10 years$4,570$4,131$3,730$3,364$3,032$2,688
11 years$4,112$3,678$3,284$2,928$2,608$2,279
12 years$3,731$3,301$2,914$2,568$2,260$1,947
13 years$3,409$2,983$2,604$2,267$1,971$1,673
14 years$3,133$2,711$2,339$2,013$1,727$1,445
15 years$2,894$2,477$2,112$1,795$1,521$1,253
16 years$2,685$2,273$1,915$1,607$1,344$1,090
17 years$2,501$2,093$1,743$1,444$1,192$952
18 years$2,337$1,934$1,591$1,301$1,060$833
19 years$2,191$1,792$1,456$1,176$945$730
20 years$2,060$1,666$1,336$1,065$844$641
21 years$1,941$1,551$1,229$967$755$564
22 years$1,833$1,448$1,133$879$677$497
23 years$1,735$1,354$1,046$800$608$439
24 years$1,645$1,269$967$730$546$388
25 years$1,562$1,191$896$667$491$343
26 years$1,486$1,119$831$610$443$303
27 years$1,416$1,053$772$558$399$269
28 years$1,351$993$717$511$360$238
29 years$1,290$936$668$469$325$211
30 years$1,234$884$622$430$294$187
31 years$1,181$836$580$395$266$166
32 years$1,132$791$541$363$240$147
33 years$1,085$749$505$334$217$131
34 years$1,042$710$472$307$197$116
35 years$1,001$673$441$283$178$103
36 years$962$639$413$260$162$92
37 years$926$607$386$240$146$82
38 years$892$577$362$221$133$73
39 years$859$549$339$204$120$65
40 years$828$522$318$188$109$57
41 years$799$497$298$174$99$51
42 years$772$473$279$160$90$45
43 years$745$451$262$148$82$40
44 years$720$430$246$137$74$36
45 years$696$410$231$126$67$32
46 years$673$391$217$116$61$28
47 years$651$373$204$108$55$25
48 years$631$356$192$99$50$23
49 years$611$340$180$92$46$20
50 years$592$325$169$85$42$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $606,000, adding $2,413 every year, while hoping to spend $40,507 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: 50/33/17 Blend
60$606,000$606,000$606,000$606,000
61$670,301$638,183$628,790$700,550
62$695,573$626,355$606,755$709,830
63$722,064$612,589$582,625$715,521
64$749,858$596,749$556,286$720,826
65$779,041$578,688$527,620$725,723
66$809,712$558,252$496,503$730,190
67$841,974$535,278$462,807$734,205
68$875,942$509,593$426,398$737,748
69$911,738$481,014$387,133$740,799
70$949,500$449,347$344,866$743,341
71$989,373$414,389$299,443$745,356
72$1,031,518$375,924$250,703$746,830
73$1,076,111$333,722$198,480$747,751
74$1,123,343$287,543$142,597$748,110
75$1,173,422$237,131$82,873$747,904
76$1,226,578$182,217$19,116$747,129
77$1,283,060$122,517$0$745,792
78$1,343,142$57,730$0$752,776
79$1,407,121$0$0$763,501
80$1,475,327$0$0$779,086
81$1,548,117$0$0$818,128
82$1,625,884$0$0$859,879
83$1,709,059$0$0$904,575
84$1,798,114$0$0$952,475
85$1,893,567$0$0$1,003,863
86$1,995,985$0$0$1,059,052
87$2,105,992$0$0$1,118,383
88$2,224,272$0$0$1,182,231
89$2,351,575$0$0$1,251,010
90$2,488,727$0$0$1,325,173
91$2,636,633$0$0$1,405,216
92$2,796,289$0$0$1,491,688
93$2,968,787$0$0$1,585,189
94$3,155,329$0$0$1,686,379
95$3,357,235$0$0$1,795,985
96$3,575,958$0$0$1,914,805
97$3,813,094$0$0$2,043,717
98$4,070,398$0$0$2,183,686
99$4,349,800$0$0$2,335,775
100$4,653,424$0$0$2,501,152