Can I retire at age 61 with 606,000?

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 $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%11.4%
1 years$50,043$49,597$49,162$48,738$48,323$48,039
2 years$24,774$24,312$23,865$23,432$23,011$22,724
3 years$16,352$15,888$15,442$15,013$14,599$14,319
4 years$12,142$11,680$11,238$10,816$10,412$10,140
5 years$9,616$9,157$8,721$8,308$7,915$7,653
6 years$7,933$7,477$7,048$6,644$6,263$6,010
7 years$6,731$6,279$5,857$5,462$5,094$4,850
8 years$5,830$5,383$4,967$4,582$4,226$3,992
9 years$5,130$4,687$4,278$3,903$3,559$3,335
10 years$4,570$4,131$3,730$3,364$3,032$2,818
11 years$4,112$3,678$3,284$2,928$2,608$2,403
12 years$3,731$3,301$2,914$2,568$2,260$2,064
13 years$3,409$2,983$2,604$2,267$1,971$1,784
14 years$3,133$2,711$2,339$2,013$1,727$1,550
15 years$2,894$2,477$2,112$1,795$1,521$1,352
16 years$2,685$2,273$1,915$1,607$1,344$1,184
17 years$2,501$2,093$1,743$1,444$1,192$1,040
18 years$2,337$1,934$1,591$1,301$1,060$916
19 years$2,191$1,792$1,456$1,176$945$808
20 years$2,060$1,666$1,336$1,065$844$715
21 years$1,941$1,551$1,229$967$755$633
22 years$1,833$1,448$1,133$879$677$562
23 years$1,735$1,354$1,046$800$608$499
24 years$1,645$1,269$967$730$546$444
25 years$1,562$1,191$896$667$491$395
26 years$1,486$1,119$831$610$443$352
27 years$1,416$1,053$772$558$399$314
28 years$1,351$993$717$511$360$280
29 years$1,290$936$668$469$325$250
30 years$1,234$884$622$430$294$224
31 years$1,181$836$580$395$266$200
32 years$1,132$791$541$363$240$179
33 years$1,085$749$505$334$217$160
34 years$1,042$710$472$307$197$143
35 years$1,001$673$441$283$178$128
36 years$962$639$413$260$162$115
37 years$926$607$386$240$146$103
38 years$892$577$362$221$133$92
39 years$859$549$339$204$120$83
40 years$828$522$318$188$109$74
41 years$799$497$298$174$99$66
42 years$772$473$279$160$90$59
43 years$745$451$262$148$82$53
44 years$720$430$246$137$74$48
45 years$696$410$231$126$67$43
46 years$673$391$217$116$61$38
47 years$651$373$204$108$55$34
48 years$631$356$192$99$50$31
49 years$611$340$180$92$46$28
50 years$592$325$169$85$42$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $606,000, adding $5,739 every year, while hoping to spend $55,201 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: 54/22/24 Blend
60$606,000$606,000$606,000$606,000
61$673,732$641,614$632,221$705,375
62$683,719$614,319$594,667$700,482
63$692,875$583,838$554,005$688,946
64$701,056$549,954$510,072$675,239
65$708,103$512,441$462,699$659,171
66$713,839$471,060$411,708$640,536
67$718,065$425,556$356,915$619,114
68$720,562$375,663$298,126$594,663
69$721,085$321,096$235,139$566,922
70$719,363$261,556$167,743$535,610
71$715,094$196,729$95,718$500,419
72$707,943$126,278$18,835$461,016
73$697,541$49,853$0$417,040
74$683,475$0$0$384,286
75$665,290$0$0$360,309
76$642,481$0$0$345,615
77$614,490$0$0$327,801
78$580,698$0$0$306,499
79$540,420$0$0$281,300
80$492,900$0$0$251,752
81$437,299$0$0$217,356
82$372,691$0$0$177,559
83$298,054$0$0$131,751
84$212,255$0$0$79,256
85$114,044$0$0$19,331
86$2,039$0$0$0
87$0$0$0$0
88$0$0$0$0
89$0$0$0$0
90$0$0$0$0
91$0$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