Can I retire at age 61 with 581,000?

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 $581,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$47,978$47,551$47,134$46,727$46,330$45,694
2 years$23,752$23,309$22,881$22,465$22,062$21,422
3 years$15,677$15,233$14,805$14,394$13,997$13,374
4 years$11,641$11,198$10,774$10,370$9,983$9,381
5 years$9,219$8,779$8,361$7,965$7,589$7,009
6 years$7,606$7,169$6,757$6,370$6,005$5,449
7 years$6,454$6,020$5,615$5,237$4,883$4,351
8 years$5,590$5,161$4,762$4,393$4,051$3,543
9 years$4,919$4,493$4,102$3,742$3,412$2,927
10 years$4,382$3,961$3,576$3,226$2,907$2,445
11 years$3,943$3,526$3,148$2,807$2,500$2,061
12 years$3,577$3,165$2,794$2,462$2,167$1,749
13 years$3,268$2,860$2,496$2,174$1,889$1,493
14 years$3,004$2,600$2,243$1,930$1,656$1,281
15 years$2,774$2,375$2,025$1,721$1,458$1,103
16 years$2,574$2,179$1,836$1,541$1,289$954
17 years$2,397$2,007$1,671$1,384$1,143$826
18 years$2,241$1,854$1,525$1,248$1,016$718
19 years$2,101$1,718$1,396$1,127$906$625
20 years$1,975$1,597$1,281$1,021$809$545
21 years$1,861$1,487$1,179$927$724$476
22 years$1,758$1,388$1,086$843$649$416
23 years$1,663$1,299$1,003$767$582$365
24 years$1,577$1,217$928$700$524$319
25 years$1,498$1,142$859$639$471$280
26 years$1,425$1,073$797$584$424$246
27 years$1,357$1,010$740$535$383$216
28 years$1,295$952$688$490$345$190
29 years$1,237$898$640$449$312$167
30 years$1,183$848$596$412$282$147
31 years$1,132$801$556$379$255$129
32 years$1,085$758$519$348$230$114
33 years$1,040$718$484$320$208$100
34 years$999$681$452$295$189$88
35 years$960$646$423$271$171$78
36 years$923$613$396$250$155$69
37 years$888$582$370$230$140$60
38 years$855$553$347$212$127$53
39 years$824$526$325$196$115$47
40 years$794$500$305$180$105$41
41 years$766$476$286$166$95$37
42 years$740$454$268$154$86$32
43 years$714$432$251$142$78$28
44 years$690$412$236$131$71$25
45 years$667$393$222$121$64$22
46 years$645$375$208$112$59$20
47 years$625$358$195$103$53$17
48 years$605$341$184$95$48$15
49 years$586$326$173$88$44$13
50 years$567$311$162$81$40$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $581,000, adding $2,498 every year, while hoping to spend $23,240 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: 80/15/5 Blend
60$581,000$581,000$581,000$581,000
61$642,839$612,046$603,040$693,961
62$683,681$617,309$598,515$733,036
63$727,910$622,051$593,059$772,563
64$775,848$626,222$586,617$815,221
65$827,846$629,768$579,130$861,309
66$884,293$632,634$570,538$911,157
67$945,616$634,758$560,776$965,129
68$1,012,284$636,077$549,778$1,023,626
69$1,084,815$636,522$537,473$1,087,088
70$1,163,775$636,021$523,787$1,156,001
71$1,249,792$634,497$508,646$1,230,901
72$1,343,552$631,869$491,967$1,312,378
73$1,445,814$628,050$473,667$1,401,082
74$1,557,411$622,949$453,659$1,497,729
75$1,679,261$616,467$431,850$1,603,107
76$1,812,373$608,502$408,145$1,718,086
77$1,957,861$598,944$382,444$1,843,625
78$2,116,948$587,678$354,641$1,980,779
79$2,290,983$574,580$324,628$2,130,713
80$2,481,450$559,521$292,289$2,294,707
81$2,689,983$542,362$257,506$2,474,176
82$2,918,382$522,959$220,153$2,670,676
83$3,168,630$501,157$180,101$2,885,926
84$3,442,909$476,792$137,213$3,121,815
85$3,743,623$449,693$91,348$3,380,431
86$4,073,421$419,676$42,356$3,664,070
87$4,435,218$386,549$0$3,975,265
88$4,832,228$350,107$0$4,317,338
89$5,267,987$310,135$0$4,695,282
90$5,746,395$266,404$0$5,110,236
91$6,271,745$218,675$0$5,565,946
92$6,848,765$166,692$0$6,066,542
93$7,482,666$110,188$0$6,616,576
94$8,179,188$48,877$0$7,221,062
95$8,944,654$0$0$7,885,528
96$9,786,030$0$0$8,618,960
97$10,710,991$0$0$9,434,141
98$11,727,991$0$0$10,330,455
99$12,846,346$0$0$11,316,116
100$14,076,320$0$0$12,400,170