Can I retire at age 61 with 582,000?

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 $582,000?

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$48,061$47,633$47,215$46,808$46,409$46,136
2 years$23,793$23,349$22,920$22,504$22,100$21,824
3 years$15,704$15,259$14,831$14,418$14,021$13,752
4 years$11,661$11,217$10,793$10,388$10,000$9,739
5 years$9,235$8,794$8,376$7,979$7,602$7,349
6 years$7,619$7,181$6,769$6,381$6,015$5,772
7 years$6,465$6,031$5,625$5,246$4,892$4,658
8 years$5,600$5,169$4,770$4,401$4,058$3,834
9 years$4,927$4,501$4,109$3,748$3,418$3,203
10 years$4,389$3,967$3,582$3,231$2,912$2,706
11 years$3,950$3,532$3,154$2,812$2,504$2,308
12 years$3,583$3,170$2,799$2,467$2,170$1,983
13 years$3,274$2,865$2,501$2,178$1,893$1,714
14 years$3,009$2,604$2,247$1,933$1,659$1,489
15 years$2,779$2,379$2,028$1,724$1,461$1,299
16 years$2,578$2,183$1,839$1,544$1,291$1,137
17 years$2,402$2,010$1,674$1,387$1,145$999
18 years$2,245$1,857$1,528$1,250$1,018$879
19 years$2,104$1,721$1,399$1,129$907$776
20 years$1,978$1,600$1,284$1,023$810$686
21 years$1,864$1,490$1,181$928$725$608
22 years$1,761$1,391$1,088$844$650$539
23 years$1,666$1,301$1,005$769$583$479
24 years$1,580$1,219$929$701$524$426
25 years$1,500$1,144$861$640$472$379
26 years$1,427$1,075$798$585$425$338
27 years$1,360$1,012$741$536$383$301
28 years$1,297$953$689$491$346$269
29 years$1,239$899$641$450$312$240
30 years$1,185$849$597$413$282$215
31 years$1,134$803$557$379$255$192
32 years$1,087$760$519$349$231$172
33 years$1,042$719$485$321$209$154
34 years$1,001$682$453$295$189$137
35 years$961$647$424$272$171$123
36 years$924$614$396$250$155$110
37 years$889$583$371$230$141$99
38 years$856$554$347$212$127$88
39 years$825$527$325$196$116$79
40 years$796$501$305$181$105$71
41 years$768$477$286$167$95$64
42 years$741$454$268$154$86$57
43 years$716$433$252$142$78$51
44 years$691$413$236$131$71$46
45 years$669$394$222$121$65$41
46 years$647$375$208$112$59$37
47 years$626$358$196$103$53$33
48 years$606$342$184$95$48$30
49 years$587$327$173$88$44$27
50 years$568$312$163$82$40$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $582,000, adding $4,416 every year, while hoping to spend $22,056 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: 47/38/15 Blend
60$582,000$582,000$582,000$582,000
61$645,919$615,073$606,052$673,355
62$688,335$621,744$602,887$699,499
63$734,339$628,003$598,878$725,252
64$784,272$633,806$593,971$752,722
65$838,513$639,107$588,113$782,076
66$897,474$643,856$581,248$813,501
67$961,612$648,001$573,316$847,204
68$1,031,430$651,486$564,255$883,411
69$1,107,478$654,252$554,000$922,376
70$1,190,365$656,234$542,483$964,377
71$1,280,759$657,366$529,633$1,009,723
72$1,379,396$657,577$515,375$1,058,754
73$1,487,086$656,789$499,632$1,111,849
74$1,604,720$654,924$482,321$1,169,423
75$1,733,280$651,894$463,358$1,231,939
76$1,873,848$647,610$442,653$1,299,907
77$2,027,612$641,974$420,114$1,373,888
78$2,195,883$634,885$395,642$1,454,507
79$2,380,104$626,235$369,136$1,542,452
80$2,581,862$615,909$340,490$1,638,484
81$2,802,908$603,784$309,593$1,743,442
82$3,045,168$589,733$276,328$1,858,255
83$3,310,764$573,619$240,574$1,983,950
84$3,602,033$555,298$202,204$2,121,660
85$3,921,549$534,616$161,086$2,272,637
86$4,272,147$511,412$117,083$2,438,262
87$4,656,950$485,515$70,049$2,620,064
88$5,079,398$456,744$19,835$2,819,728
89$5,543,280$424,908$0$3,039,117
90$6,052,770$389,804$0$3,285,689
91$6,612,466$351,218$0$3,560,050
92$7,227,434$308,924$0$3,861,555
93$7,903,254$262,683$0$4,193,001
94$8,646,075$212,243$0$4,557,470
95$9,462,669$157,338$0$4,958,364
96$10,360,499$97,685$0$5,399,435
97$11,347,785$32,987$0$5,884,823
98$12,433,586$0$0$6,419,094
99$13,627,880$0$0$7,022,785
100$14,941,664$0$0$7,702,124