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%14.6%
1 years$48,061$47,633$47,215$46,808$46,409$45,528
2 years$23,793$23,349$22,920$22,504$22,100$21,215
3 years$15,704$15,259$14,831$14,418$14,021$13,161
4 years$11,661$11,217$10,793$10,388$10,000$9,171
5 years$9,235$8,794$8,376$7,979$7,602$6,806
6 years$7,619$7,181$6,769$6,381$6,015$5,254
7 years$6,465$6,031$5,625$5,246$4,892$4,165
8 years$5,600$5,169$4,770$4,401$4,058$3,366
9 years$4,927$4,501$4,109$3,748$3,418$2,759
10 years$4,389$3,967$3,582$3,231$2,912$2,287
11 years$3,950$3,532$3,154$2,812$2,504$1,911
12 years$3,583$3,170$2,799$2,467$2,170$1,609
13 years$3,274$2,865$2,501$2,178$1,893$1,362
14 years$3,009$2,604$2,247$1,933$1,659$1,158
15 years$2,779$2,379$2,028$1,724$1,461$989
16 years$2,578$2,183$1,839$1,544$1,291$847
17 years$2,402$2,010$1,674$1,387$1,145$727
18 years$2,245$1,857$1,528$1,250$1,018$626
19 years$2,104$1,721$1,399$1,129$907$540
20 years$1,978$1,600$1,284$1,023$810$466
21 years$1,864$1,490$1,181$928$725$403
22 years$1,761$1,391$1,088$844$650$349
23 years$1,666$1,301$1,005$769$583$302
24 years$1,580$1,219$929$701$524$262
25 years$1,500$1,144$861$640$472$228
26 years$1,427$1,075$798$585$425$198
27 years$1,360$1,012$741$536$383$172
28 years$1,297$953$689$491$346$150
29 years$1,239$899$641$450$312$130
30 years$1,185$849$597$413$282$113
31 years$1,134$803$557$379$255$99
32 years$1,087$760$519$349$231$86
33 years$1,042$719$485$321$209$75
34 years$1,001$682$453$295$189$65
35 years$961$647$424$272$171$57
36 years$924$614$396$250$155$50
37 years$889$583$371$230$141$43
38 years$856$554$347$212$127$38
39 years$825$527$325$196$116$33
40 years$796$501$305$181$105$29
41 years$768$477$286$167$95$25
42 years$741$454$268$154$86$22
43 years$716$433$252$142$78$19
44 years$691$413$236$131$71$17
45 years$669$394$222$121$65$14
46 years$647$375$208$112$59$13
47 years$626$358$196$103$53$11
48 years$606$342$184$95$48$10
49 years$587$327$173$88$44$8
50 years$568$312$163$82$40$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $582,000, adding $5,191 every year, while hoping to spend $45,284 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: 61/20/19 Blend
60$582,000$582,000$582,000$582,000
61$646,719$615,873$606,852$682,692
62$664,502$597,868$578,999$689,596
63$682,582$577,464$548,696$691,637
64$700,940$554,495$515,812$692,825
65$719,556$528,785$480,212$693,081
66$738,405$500,150$441,754$692,323
67$757,458$468,394$400,288$690,461
68$776,683$433,309$355,662$687,399
69$796,040$394,677$307,712$683,034
70$815,486$352,266$256,271$677,254
71$834,971$305,832$201,161$669,941
72$854,436$255,116$142,198$660,965
73$873,818$199,846$79,190$650,188
74$893,041$139,732$11,937$637,460
75$912,023$74,471$0$622,620
76$930,670$3,741$0$617,625
77$948,876$0$0$613,529
78$966,523$0$0$623,776
79$983,476$0$0$634,355
80$999,587$0$0$644,342
81$1,014,689$0$0$653,625
82$1,028,596$0$0$662,076
83$1,041,099$0$0$669,556
84$1,051,966$0$0$675,907
85$1,060,939$0$0$680,954
86$1,067,730$0$0$684,504
87$1,072,018$0$0$686,340
88$1,073,449$0$0$686,221
89$1,071,626$0$0$683,882
90$1,066,111$0$0$679,025
91$1,056,416$0$0$671,322
92$1,042,002$0$0$660,410
93$1,022,269$0$0$645,884
94$996,553$0$0$627,296
95$964,121$0$0$604,152
96$924,156$0$0$575,903
97$875,759$0$0$541,941
98$817,931$0$0$501,595
99$749,569$0$0$454,122
100$669,453$0$0$398,699