Can I retire at age 66 with 581,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $581,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.5%
1 years$47,978$47,551$47,134$46,727$46,330$45,283
2 years$23,752$23,309$22,881$22,465$22,062$21,013
3 years$15,677$15,233$14,805$14,394$13,997$12,979
4 years$11,641$11,198$10,774$10,370$9,983$9,003
5 years$9,219$8,779$8,361$7,965$7,589$6,650
6 years$7,606$7,169$6,757$6,370$6,005$5,108
7 years$6,454$6,020$5,615$5,237$4,883$4,029
8 years$5,590$5,161$4,762$4,393$4,051$3,239
9 years$4,919$4,493$4,102$3,742$3,412$2,641
10 years$4,382$3,961$3,576$3,226$2,907$2,176
11 years$3,943$3,526$3,148$2,807$2,500$1,809
12 years$3,577$3,165$2,794$2,462$2,167$1,514
13 years$3,268$2,860$2,496$2,174$1,889$1,274
14 years$3,004$2,600$2,243$1,930$1,656$1,077
15 years$2,774$2,375$2,025$1,721$1,458$913
16 years$2,574$2,179$1,836$1,541$1,289$777
17 years$2,397$2,007$1,671$1,384$1,143$663
18 years$2,241$1,854$1,525$1,248$1,016$567
19 years$2,101$1,718$1,396$1,127$906$486
20 years$1,975$1,597$1,281$1,021$809$417
21 years$1,861$1,487$1,179$927$724$358
22 years$1,758$1,388$1,086$843$649$308
23 years$1,663$1,299$1,003$767$582$265
24 years$1,577$1,217$928$700$524$228
25 years$1,498$1,142$859$639$471$197
26 years$1,425$1,073$797$584$424$170
27 years$1,357$1,010$740$535$383$146
28 years$1,295$952$688$490$345$126
29 years$1,237$898$640$449$312$109
30 years$1,183$848$596$412$282$94
31 years$1,132$801$556$379$255$82
32 years$1,085$758$519$348$230$70
33 years$1,040$718$484$320$208$61
34 years$999$681$452$295$189$53
35 years$960$646$423$271$171$46
36 years$923$613$396$250$155$39
37 years$888$582$370$230$140$34
38 years$855$553$347$212$127$30
39 years$824$526$325$196$115$26
40 years$794$500$305$180$105$22
41 years$766$476$286$166$95$19
42 years$740$454$268$154$86$17
43 years$714$432$251$142$78$14
44 years$690$412$236$131$71$12
45 years$667$393$222$121$64$11
46 years$645$375$208$112$59$9
47 years$625$358$195$103$53$8
48 years$605$341$184$95$48$7
49 years$586$326$173$88$44$6
50 years$567$311$162$81$40$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $581,000, adding $4,360 every year, while hoping to spend $23,231 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: 31/49/20 Blend
65$581,000$581,000$581,000$581,000
66$644,759$613,966$604,961$660,613
67$685,807$619,333$600,509$678,295
68$730,263$624,184$595,130$694,912
69$778,451$628,470$588,768$712,312
70$830,725$632,137$581,364$730,576
71$887,477$635,130$572,857$749,796
72$949,136$637,387$563,184$770,076
73$1,016,174$638,846$552,278$791,530
74$1,089,113$639,439$540,068$814,287
75$1,168,525$639,093$526,482$838,490
76$1,255,038$637,733$511,444$864,299
77$1,349,347$635,276$494,872$891,893
78$1,452,213$631,638$476,683$921,471
79$1,564,477$626,726$456,789$953,254
80$1,687,062$620,444$435,100$987,489
81$1,820,985$612,688$411,519$1,024,452
82$1,967,366$603,351$385,946$1,064,448
83$2,127,439$592,316$358,276$1,107,818
84$2,302,560$579,462$328,400$1,154,940
85$2,494,224$564,659$296,205$1,206,235
86$2,704,077$547,769$261,570$1,262,169
87$2,933,932$528,649$224,372$1,323,263
88$3,185,784$507,144$184,479$1,390,091
89$3,461,831$483,091$141,757$1,463,294
90$3,764,495$456,320$96,063$1,543,580
91$4,096,442$426,648$47,249$1,631,738
92$4,460,609$393,883$0$1,728,638
93$4,860,229$357,822$0$1,836,283
94$5,298,868$318,250$0$1,965,539
95$5,780,448$274,940$0$2,107,535
96$6,309,294$227,653$0$2,263,625
97$6,890,169$176,135$0$2,435,306
98$7,528,319$120,117$0$2,624,233
99$8,229,523$59,319$0$2,832,233
100$9,000,150$0$0$3,061,330