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%19.7%
1 years$47,896$47,469$47,053$46,647$46,250$44,450
2 years$23,711$23,269$22,841$22,426$22,024$20,232
3 years$15,650$15,207$14,780$14,369$13,973$12,246
4 years$11,621$11,179$10,756$10,352$9,966$8,316
5 years$9,204$8,764$8,347$7,951$7,576$6,009
6 years$7,593$7,157$6,746$6,359$5,994$4,510
7 years$6,443$6,010$5,606$5,228$4,875$3,474
8 years$5,580$5,152$4,754$4,385$4,044$2,724
9 years$4,910$4,486$4,095$3,735$3,406$2,165
10 years$4,374$3,954$3,570$3,220$2,902$1,738
11 years$3,936$3,520$3,143$2,802$2,496$1,406
12 years$3,571$3,159$2,789$2,458$2,163$1,144
13 years$3,263$2,855$2,492$2,170$1,886$936
14 years$2,998$2,595$2,239$1,926$1,653$768
15 years$2,770$2,371$2,022$1,718$1,456$633
16 years$2,570$2,175$1,833$1,538$1,287$522
17 years$2,393$2,003$1,668$1,382$1,141$432
18 years$2,237$1,851$1,522$1,246$1,014$358
19 years$2,097$1,715$1,394$1,125$904$297
20 years$1,971$1,594$1,279$1,019$808$247
21 years$1,858$1,485$1,177$925$723$205
22 years$1,754$1,386$1,084$841$648$171
23 years$1,660$1,296$1,001$766$581$142
24 years$1,574$1,215$926$699$523$119
25 years$1,495$1,140$858$638$470$99
26 years$1,422$1,071$795$583$424$82
27 years$1,355$1,008$739$534$382$69
28 years$1,293$950$687$489$345$57
29 years$1,235$896$639$449$311$48
30 years$1,181$846$595$412$281$40
31 years$1,130$800$555$378$254$33
32 years$1,083$757$518$348$230$28
33 years$1,039$717$483$320$208$23
34 years$997$680$452$294$188$19
35 years$958$645$422$271$171$16
36 years$921$612$395$249$155$14
37 years$886$581$370$230$140$11
38 years$854$552$346$212$127$9
39 years$822$525$324$195$115$8
40 years$793$500$304$180$104$7
41 years$765$476$285$166$95$6
42 years$738$453$267$153$86$5
43 years$713$431$251$142$78$4
44 years$689$411$236$131$71$3
45 years$666$392$221$121$64$3
46 years$644$374$208$111$58$2
47 years$624$357$195$103$53$2
48 years$604$341$183$95$48$2
49 years$585$326$172$88$44$1
50 years$566$311$162$81$40$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $580,000, adding $6,190 every year, while hoping to spend $34,096 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: 68/22/10 Blend
60$580,000$580,000$580,000$580,000
61$645,545$614,805$605,815$687,708
62$675,113$608,653$589,832$710,355
63$706,554$601,056$572,171$730,433
64$740,023$591,908$552,739$751,492
65$775,690$581,096$531,440$773,625
66$813,741$568,501$508,174$796,932
67$854,379$553,994$482,835$821,526
68$897,828$537,442$455,312$847,532
69$944,332$518,703$425,491$875,089
70$994,161$497,626$393,251$904,350
71$1,047,606$474,051$358,467$935,487
72$1,104,993$447,810$321,006$968,690
73$1,166,675$418,725$280,733$1,004,167
74$1,233,041$386,608$237,502$1,042,154
75$1,304,519$351,259$191,166$1,082,908
76$1,381,577$312,468$141,567$1,126,716
77$1,464,730$270,012$88,543$1,173,897
78$1,554,546$223,656$31,922$1,224,804
79$1,651,646$173,151$0$1,279,826
80$1,756,714$118,236$0$1,342,439
81$1,870,502$58,632$0$1,413,912
82$1,993,836$0$0$1,491,388
83$2,127,626$0$0$1,576,918
84$2,272,870$0$0$1,685,209
85$2,430,668$0$0$1,802,890
86$2,602,230$0$0$1,930,866
87$2,788,885$0$0$2,070,135
88$2,992,098$0$0$2,221,793
89$3,213,479$0$0$2,387,046
90$3,454,801$0$0$2,567,221
91$3,718,014$0$0$2,763,780
92$4,005,266$0$0$2,978,331
93$4,318,920$0$0$3,212,645
94$4,661,578$0$0$3,468,670
95$5,036,105$0$0$3,748,552
96$5,445,653$0$0$4,054,654
97$5,893,694$0$0$4,389,576
98$6,384,052$0$0$4,756,183
99$6,920,937$0$0$5,157,628
100$7,508,984$0$0$5,597,384