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%12.9%
1 years$48,061$47,633$47,215$46,808$46,409$45,849
2 years$23,793$23,349$22,920$22,504$22,100$21,535
3 years$15,704$15,259$14,831$14,418$14,021$13,470
4 years$11,661$11,217$10,793$10,388$10,000$9,468
5 years$9,235$8,794$8,376$7,979$7,602$7,089
6 years$7,619$7,181$6,769$6,381$6,015$5,523
7 years$6,465$6,031$5,625$5,246$4,892$4,420
8 years$5,600$5,169$4,770$4,401$4,058$3,607
9 years$4,927$4,501$4,109$3,748$3,418$2,987
10 years$4,389$3,967$3,582$3,231$2,912$2,501
11 years$3,950$3,532$3,154$2,812$2,504$2,113
12 years$3,583$3,170$2,799$2,467$2,170$1,798
13 years$3,274$2,865$2,501$2,178$1,893$1,539
14 years$3,009$2,604$2,247$1,933$1,659$1,324
15 years$2,779$2,379$2,028$1,724$1,461$1,144
16 years$2,578$2,183$1,839$1,544$1,291$991
17 years$2,402$2,010$1,674$1,387$1,145$861
18 years$2,245$1,857$1,528$1,250$1,018$750
19 years$2,104$1,721$1,399$1,129$907$655
20 years$1,978$1,600$1,284$1,023$810$573
21 years$1,864$1,490$1,181$928$725$502
22 years$1,761$1,391$1,088$844$650$440
23 years$1,666$1,301$1,005$769$583$387
24 years$1,580$1,219$929$701$524$340
25 years$1,500$1,144$861$640$472$299
26 years$1,427$1,075$798$585$425$264
27 years$1,360$1,012$741$536$383$232
28 years$1,297$953$689$491$346$205
29 years$1,239$899$641$450$312$181
30 years$1,185$849$597$413$282$159
31 years$1,134$803$557$379$255$141
32 years$1,087$760$519$349$231$124
33 years$1,042$719$485$321$209$110
34 years$1,001$682$453$295$189$97
35 years$961$647$424$272$171$86
36 years$924$614$396$250$155$76
37 years$889$583$371$230$141$67
38 years$856$554$347$212$127$59
39 years$825$527$325$196$116$53
40 years$796$501$305$181$105$47
41 years$768$477$286$167$95$41
42 years$741$454$268$154$86$36
43 years$716$433$252$142$78$32
44 years$691$413$236$131$71$29
45 years$669$394$222$121$65$25
46 years$647$375$208$112$59$22
47 years$626$358$196$103$53$20
48 years$606$342$184$95$48$18
49 years$587$327$173$88$44$16
50 years$568$312$163$82$40$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $582,000, adding $4,018 every year, while hoping to spend $51,507 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: 80/5/15 Blend
60$582,000$582,000$582,000$582,000
61$645,509$614,663$605,642$694,840
62$656,547$589,978$571,128$703,177
63$666,986$562,358$533,731$705,287
64$676,708$531,603$493,301$706,137
65$685,586$497,505$449,680$705,576
66$693,474$459,841$402,703$703,441
67$700,213$418,378$352,197$699,551
68$705,623$372,867$297,984$693,709
69$709,506$323,046$239,876$685,696
70$711,639$268,640$177,676$675,272
71$711,778$209,355$111,180$662,173
72$709,649$144,883$40,174$646,111
73$704,949$74,898$0$626,765
74$697,342$0$0$609,483
75$686,453$0$0$595,466
76$671,871$0$0$582,305
77$653,136$0$0$565,473
78$629,741$0$0$544,522
79$601,125$0$0$518,958
80$566,665$0$0$488,232
81$525,673$0$0$451,737
82$477,389$0$0$408,800
83$420,969$0$0$358,681
84$355,483$0$0$300,556
85$279,902$0$0$233,520
86$193,089$0$0$156,568
87$93,787$0$0$68,594
88$0$0$0$0
89$0$0$0$0
90$0$0$0$0
91$0$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0