Can I retire at age 61 with 586,000?

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 $586,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$48,391$47,960$47,540$47,129$46,728$46,415
2 years$23,956$23,510$23,078$22,658$22,252$21,935
3 years$15,812$15,364$14,933$14,517$14,117$13,808
4 years$11,741$11,294$10,867$10,459$10,069$9,769
5 years$9,299$8,855$8,433$8,033$7,654$7,364
6 years$7,671$7,231$6,815$6,424$6,056$5,778
7 years$6,509$6,072$5,664$5,282$4,925$4,658
8 years$5,638$5,205$4,803$4,431$4,086$3,829
9 years$4,961$4,532$4,137$3,774$3,441$3,195
10 years$4,419$3,995$3,607$3,253$2,932$2,697
11 years$3,977$3,556$3,175$2,831$2,522$2,297
12 years$3,608$3,192$2,818$2,483$2,185$1,971
13 years$3,296$2,885$2,518$2,193$1,906$1,701
14 years$3,029$2,622$2,262$1,946$1,670$1,476
15 years$2,798$2,395$2,042$1,736$1,471$1,286
16 years$2,596$2,198$1,852$1,554$1,300$1,124
17 years$2,418$2,024$1,685$1,396$1,153$986
18 years$2,260$1,870$1,538$1,258$1,025$867
19 years$2,119$1,733$1,408$1,137$913$764
20 years$1,992$1,611$1,292$1,030$816$675
21 years$1,877$1,500$1,189$935$730$597
22 years$1,773$1,400$1,096$850$654$529
23 years$1,678$1,310$1,012$774$587$469
24 years$1,591$1,227$936$706$528$416
25 years$1,511$1,152$866$645$475$370
26 years$1,437$1,082$804$589$428$329
27 years$1,369$1,019$746$540$386$293
28 years$1,306$960$694$494$348$261
29 years$1,247$905$646$453$314$233
30 years$1,193$855$601$416$284$208
31 years$1,142$808$561$382$257$185
32 years$1,094$765$523$351$232$166
33 years$1,049$724$488$323$210$148
34 years$1,007$687$456$297$190$132
35 years$968$651$427$274$172$118
36 years$931$618$399$252$156$106
37 years$896$587$374$232$142$94
38 years$862$558$350$214$128$84
39 years$831$530$328$197$116$76
40 years$801$505$307$182$106$68
41 years$773$480$288$168$96$60
42 years$746$458$270$155$87$54
43 years$721$436$254$143$79$48
44 years$696$416$238$132$72$43
45 years$673$396$223$122$65$39
46 years$651$378$210$113$59$35
47 years$630$361$197$104$54$31
48 years$610$344$185$96$49$28
49 years$591$329$174$89$44$25
50 years$572$314$164$82$40$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $586,000, adding $5,376 every year, while hoping to spend $26,505 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: 35/42/23 Blend
60$586,000$586,000$586,000$586,000
61$651,317$620,259$611,176$669,412
62$689,551$622,451$603,450$685,447
63$730,795$623,862$594,576$699,924
64$775,331$624,425$584,488$715,010
65$823,463$624,071$573,118$730,776
66$875,531$622,724$560,391$747,303
67$931,903$620,306$546,233$764,679
68$992,989$616,733$530,563$783,007
69$1,059,235$611,913$513,298$802,399
70$1,131,134$605,755$494,350$822,984
71$1,209,228$598,155$473,630$844,904
72$1,294,114$589,009$451,041$868,321
73$1,386,447$578,204$426,484$893,413
74$1,486,948$565,620$399,855$920,382
75$1,596,411$551,130$371,045$949,452
76$1,715,711$534,601$339,940$980,875
77$1,845,807$515,890$306,422$1,014,930
78$1,987,759$494,848$270,367$1,051,930
79$2,142,731$471,316$231,644$1,092,224
80$2,312,004$445,126$190,120$1,136,199
81$2,496,992$416,099$145,651$1,184,290
82$2,699,246$384,050$98,092$1,236,976
83$2,920,479$348,778$47,288$1,294,795
84$3,162,574$310,074$0$1,358,341
85$3,427,604$267,716$0$1,429,979
86$3,717,855$221,469$0$1,521,239
87$4,035,842$171,086$0$1,621,364
88$4,384,334$116,306$0$1,731,307
89$4,766,383$56,852$0$1,852,123
90$5,185,349$0$0$1,984,980
91$5,644,932$0$0$2,134,666
92$6,149,209$0$0$2,327,824
93$6,702,670$0$0$2,539,910
94$7,310,260$0$0$2,772,830
95$7,977,428$0$0$3,028,685
96$8,710,175$0$0$3,309,787
97$9,515,113$0$0$3,618,685
98$10,399,523$0$0$3,958,186
99$11,371,431$0$0$4,331,384
100$12,439,674$0$0$4,741,686