Can I retire at age 66 with 580,000?

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 $580,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$47,896$47,469$47,053$46,647$46,250$45,298
2 years$23,711$23,269$22,841$22,426$22,024$21,069
3 years$15,650$15,207$14,780$14,369$13,973$13,045
4 years$11,621$11,179$10,756$10,352$9,966$9,072
5 years$9,204$8,764$8,347$7,951$7,576$6,718
6 years$7,593$7,157$6,746$6,359$5,994$5,175
7 years$6,443$6,010$5,606$5,228$4,875$4,093
8 years$5,580$5,152$4,754$4,385$4,044$3,300
9 years$4,910$4,486$4,095$3,735$3,406$2,699
10 years$4,374$3,954$3,570$3,220$2,902$2,231
11 years$3,936$3,520$3,143$2,802$2,496$1,860
12 years$3,571$3,159$2,789$2,458$2,163$1,562
13 years$3,263$2,855$2,492$2,170$1,886$1,319
14 years$2,998$2,595$2,239$1,926$1,653$1,118
15 years$2,770$2,371$2,022$1,718$1,456$952
16 years$2,570$2,175$1,833$1,538$1,287$813
17 years$2,393$2,003$1,668$1,382$1,141$696
18 years$2,237$1,851$1,522$1,246$1,014$597
19 years$2,097$1,715$1,394$1,125$904$514
20 years$1,971$1,594$1,279$1,019$808$442
21 years$1,858$1,485$1,177$925$723$381
22 years$1,754$1,386$1,084$841$648$329
23 years$1,660$1,296$1,001$766$581$284
24 years$1,574$1,215$926$699$523$246
25 years$1,495$1,140$858$638$470$213
26 years$1,422$1,071$795$583$424$184
27 years$1,355$1,008$739$534$382$160
28 years$1,293$950$687$489$345$138
29 years$1,235$896$639$449$311$120
30 years$1,181$846$595$412$281$104
31 years$1,130$800$555$378$254$90
32 years$1,083$757$518$348$230$78
33 years$1,039$717$483$320$208$68
34 years$997$680$452$294$188$59
35 years$958$645$422$271$171$51
36 years$921$612$395$249$155$45
37 years$886$581$370$230$140$39
38 years$854$552$346$212$127$34
39 years$822$525$324$195$115$29
40 years$793$500$304$180$104$25
41 years$765$476$285$166$95$22
42 years$738$453$267$153$86$19
43 years$713$431$251$142$78$17
44 years$689$411$236$131$71$15
45 years$666$392$221$121$64$13
46 years$644$374$208$111$58$11
47 years$624$357$195$103$53$10
48 years$604$341$183$95$48$8
49 years$585$326$172$88$44$7
50 years$566$311$162$81$40$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $580,000, adding $6,324 every year, while hoping to spend $22,590 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: 78/17/5 Blend
65$580,000$580,000$580,000$580,000
66$645,683$614,943$605,953$695,395
67$687,507$621,040$602,217$734,976
68$732,840$626,678$597,599$774,777
69$782,016$631,812$592,044$817,745
70$835,403$636,391$585,499$864,185
71$893,404$640,364$577,903$914,430
72$956,464$643,675$569,195$968,851
73$1,025,071$646,263$559,312$1,027,854
74$1,099,765$648,067$548,185$1,091,886
75$1,181,137$649,018$535,745$1,161,441
76$1,269,839$649,045$521,918$1,237,063
77$1,366,587$648,073$506,627$1,319,350
78$1,472,171$646,021$489,792$1,408,962
79$1,587,460$642,803$471,327$1,506,627
80$1,713,410$638,330$451,145$1,613,146
81$1,851,073$632,504$429,154$1,729,403
82$2,001,610$625,223$405,258$1,856,369
83$2,166,295$616,380$379,355$1,995,119
84$2,346,535$605,861$351,342$2,146,834
85$2,543,877$593,543$321,107$2,312,816
86$2,760,024$579,298$288,536$2,494,503
87$2,996,853$562,991$253,508$2,693,476
88$3,256,432$544,477$215,900$2,911,481
89$3,541,035$523,603$175,580$3,150,438
90$3,853,169$500,209$132,411$3,412,468
91$4,195,596$474,123$86,251$3,699,906
92$4,571,357$445,165$36,950$4,015,326
93$4,983,802$413,145$0$4,361,566
94$5,436,620$377,859$0$4,742,589
95$5,933,877$339,096$0$5,163,165
96$6,480,049$296,628$0$5,625,128
97$7,080,070$250,219$0$6,132,676
98$7,739,374$199,616$0$6,690,436
99$8,463,946$144,553$0$7,303,504
100$9,260,382$84,750$0$7,977,501