Can I retire at age 61 with 580,000?

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 $580,000?

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$47,896$47,469$47,053$46,647$46,250$45,978
2 years$23,711$23,269$22,841$22,426$22,024$21,749
3 years$15,650$15,207$14,780$14,369$13,973$13,704
4 years$11,621$11,179$10,756$10,352$9,966$9,705
5 years$9,204$8,764$8,347$7,951$7,576$7,324
6 years$7,593$7,157$6,746$6,359$5,994$5,752
7 years$6,443$6,010$5,606$5,228$4,875$4,642
8 years$5,580$5,152$4,754$4,385$4,044$3,821
9 years$4,910$4,486$4,095$3,735$3,406$3,192
10 years$4,374$3,954$3,570$3,220$2,902$2,697
11 years$3,936$3,520$3,143$2,802$2,496$2,300
12 years$3,571$3,159$2,789$2,458$2,163$1,976
13 years$3,263$2,855$2,492$2,170$1,886$1,708
14 years$2,998$2,595$2,239$1,926$1,653$1,484
15 years$2,770$2,371$2,022$1,718$1,456$1,294
16 years$2,570$2,175$1,833$1,538$1,287$1,133
17 years$2,393$2,003$1,668$1,382$1,141$995
18 years$2,237$1,851$1,522$1,246$1,014$876
19 years$2,097$1,715$1,394$1,125$904$773
20 years$1,971$1,594$1,279$1,019$808$684
21 years$1,858$1,485$1,177$925$723$606
22 years$1,754$1,386$1,084$841$648$537
23 years$1,660$1,296$1,001$766$581$477
24 years$1,574$1,215$926$699$523$425
25 years$1,495$1,140$858$638$470$378
26 years$1,422$1,071$795$583$424$337
27 years$1,355$1,008$739$534$382$300
28 years$1,293$950$687$489$345$268
29 years$1,235$896$639$449$311$239
30 years$1,181$846$595$412$281$214
31 years$1,130$800$555$378$254$191
32 years$1,083$757$518$348$230$171
33 years$1,039$717$483$320$208$153
34 years$997$680$452$294$188$137
35 years$958$645$422$271$171$123
36 years$921$612$395$249$155$110
37 years$886$581$370$230$140$98
38 years$854$552$346$212$127$88
39 years$822$525$324$195$115$79
40 years$793$500$304$180$104$71
41 years$765$476$285$166$95$63
42 years$738$453$267$153$86$57
43 years$713$431$251$142$78$51
44 years$689$411$236$131$71$46
45 years$666$392$221$121$64$41
46 years$644$374$208$111$58$37
47 years$624$357$195$103$53$33
48 years$604$341$183$95$48$30
49 years$585$326$172$88$44$27
50 years$566$311$162$81$40$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $580,000, adding $3,715 every year, while hoping to spend $35,816 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: 43/39/18 Blend
60$580,000$580,000$580,000$580,000
61$642,992$612,252$603,262$667,127
62$670,469$604,144$585,363$676,395
63$699,549$594,439$565,665$682,622
64$730,356$583,020$544,068$688,617
65$763,029$569,764$520,470$694,374
66$797,716$554,542$494,765$699,892
67$834,583$537,214$466,839$705,172
68$873,809$517,635$436,577$710,217
69$915,590$495,652$403,854$715,033
70$960,140$471,099$368,544$719,634
71$1,007,697$443,806$330,512$724,034
72$1,058,518$413,587$289,620$728,255
73$1,112,885$380,252$245,721$732,326
74$1,171,109$343,594$198,662$736,282
75$1,233,531$303,399$148,286$740,165
76$1,300,523$259,437$94,425$744,029
77$1,372,495$211,468$36,907$747,937
78$1,449,897$159,237$0$751,964
79$1,533,222$102,476$0$760,900
80$1,623,012$40,899$0$778,019
81$1,719,864$0$0$796,383
82$1,824,430$0$0$827,242
83$1,937,430$0$0$879,614
84$2,059,653$0$0$936,319
85$2,191,969$0$0$997,769
86$2,335,330$0$0$1,064,413
87$2,490,788$0$0$1,136,749
88$2,659,496$0$0$1,215,322
89$2,842,724$0$0$1,300,731
90$3,041,867$0$0$1,393,638
91$3,258,463$0$0$1,494,769
92$3,494,201$0$0$1,604,923
93$3,750,940$0$0$1,724,980
94$4,030,727$0$0$1,855,908
95$4,335,813$0$0$1,998,773
96$4,668,678$0$0$2,154,746
97$5,032,050$0$0$2,325,121
98$5,428,931$0$0$2,511,317
99$5,862,628$0$0$2,714,899
100$6,336,780$0$0$2,937,592