Can I retire at age 61 with 584,000?

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 $584,000?

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$48,226$47,797$47,377$46,968$46,569$45,685
2 years$23,874$23,430$22,999$22,581$22,176$21,288
3 years$15,758$15,312$14,882$14,468$14,069$13,206
4 years$11,701$11,256$10,830$10,423$10,034$9,203
5 years$9,267$8,825$8,405$8,006$7,628$6,830
6 years$7,645$7,206$6,792$6,403$6,036$5,272
7 years$6,487$6,052$5,644$5,264$4,909$4,179
8 years$5,619$5,187$4,787$4,416$4,072$3,377
9 years$4,944$4,516$4,123$3,761$3,429$2,768
10 years$4,404$3,981$3,594$3,242$2,922$2,294
11 years$3,963$3,544$3,164$2,822$2,513$1,918
12 years$3,596$3,181$2,808$2,475$2,178$1,615
13 years$3,285$2,875$2,509$2,185$1,899$1,367
14 years$3,019$2,613$2,254$1,940$1,665$1,162
15 years$2,789$2,387$2,035$1,730$1,466$992
16 years$2,587$2,190$1,845$1,549$1,295$850
17 years$2,410$2,017$1,679$1,392$1,149$730
18 years$2,252$1,864$1,533$1,254$1,021$628
19 years$2,111$1,727$1,403$1,133$910$541
20 years$1,985$1,605$1,288$1,026$813$468
21 years$1,870$1,495$1,185$931$728$404
22 years$1,767$1,396$1,092$847$652$350
23 years$1,672$1,305$1,008$771$585$304
24 years$1,585$1,223$932$703$526$263
25 years$1,506$1,148$864$642$474$229
26 years$1,432$1,079$801$587$427$199
27 years$1,364$1,015$744$538$385$173
28 years$1,302$957$691$493$347$150
29 years$1,243$902$643$452$313$131
30 years$1,189$852$599$415$283$114
31 years$1,138$806$559$381$256$99
32 years$1,090$762$521$350$232$86
33 years$1,046$722$487$322$210$75
34 years$1,004$684$455$296$190$65
35 years$965$649$425$273$172$57
36 years$928$616$398$251$156$50
37 years$893$585$372$231$141$43
38 years$859$556$349$213$128$38
39 years$828$529$327$197$116$33
40 years$798$503$306$181$105$29
41 years$770$479$287$167$95$25
42 years$744$456$269$154$87$22
43 years$718$434$253$143$79$19
44 years$694$414$237$132$71$17
45 years$671$395$223$122$65$15
46 years$649$377$209$112$59$13
47 years$628$360$197$104$53$11
48 years$608$343$185$96$49$10
49 years$589$328$174$89$44$8
50 years$570$313$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 $584,000, adding $5,470 every year, while hoping to spend $41,284 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: 69/12/19 Blend
60$584,000$584,000$584,000$584,000
61$649,210$618,258$609,206$690,633
62$671,504$604,627$585,689$705,347
63$694,688$588,944$560,000$716,071
64$718,809$571,066$532,023$726,786
65$743,919$550,839$501,637$737,488
66$770,071$528,103$468,714$748,172
67$797,324$502,686$433,122$758,836
68$825,741$474,408$394,722$769,477
69$855,391$443,077$353,369$780,095
70$886,345$408,492$308,911$790,691
71$918,683$370,440$261,191$801,266
72$952,491$328,693$210,043$811,825
73$987,860$283,014$155,294$822,374
74$1,024,891$233,151$96,766$832,923
75$1,063,691$178,837$34,269$843,482
76$1,104,378$119,790$0$854,068
77$1,147,080$55,715$0$871,274
78$1,191,933$0$0$896,391
79$1,239,089$0$0$924,346
80$1,288,711$0$0$961,515
81$1,340,975$0$0$1,000,677
82$1,396,077$0$0$1,041,977
83$1,454,226$0$0$1,085,576
84$1,515,652$0$0$1,131,648
85$1,580,607$0$0$1,180,382
86$1,649,362$0$0$1,231,986
87$1,722,219$0$0$1,286,686
88$1,799,502$0$0$1,344,731
89$1,881,569$0$0$1,406,390
90$1,968,810$0$0$1,471,961
91$2,061,653$0$0$1,541,766
92$2,160,564$0$0$1,616,161
93$2,266,056$0$0$1,695,535
94$2,378,689$0$0$1,780,311
95$2,499,077$0$0$1,870,958
96$2,627,895$0$0$1,967,986
97$2,765,881$0$0$2,071,955
98$2,913,844$0$0$2,183,482
99$3,072,673$0$0$2,303,240
100$3,243,344$0$0$2,431,970