Can I retire at age 61 with 585,000?

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 $585,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$48,309$47,878$47,459$47,049$46,649$46,009
2 years$23,915$23,470$23,038$22,620$22,214$21,570
3 years$15,785$15,338$14,907$14,493$14,093$13,466
4 years$11,721$11,275$10,849$10,441$10,051$9,445
5 years$9,283$8,840$8,419$8,020$7,641$7,058
6 years$7,658$7,218$6,804$6,413$6,046$5,486
7 years$6,498$6,062$5,654$5,273$4,917$4,381
8 years$5,628$5,196$4,795$4,423$4,079$3,567
9 years$4,952$4,524$4,130$3,768$3,435$2,947
10 years$4,412$3,988$3,601$3,248$2,927$2,462
11 years$3,970$3,550$3,170$2,827$2,517$2,075
12 years$3,602$3,186$2,813$2,479$2,181$1,761
13 years$3,291$2,880$2,513$2,189$1,902$1,504
14 years$3,024$2,617$2,258$1,943$1,668$1,290
15 years$2,793$2,391$2,039$1,733$1,468$1,111
16 years$2,592$2,194$1,849$1,552$1,298$960
17 years$2,414$2,020$1,682$1,394$1,151$832
18 years$2,256$1,867$1,536$1,256$1,023$723
19 years$2,115$1,730$1,406$1,135$912$629
20 years$1,988$1,608$1,290$1,028$814$549
21 years$1,874$1,498$1,187$933$729$479
22 years$1,770$1,398$1,094$848$653$419
23 years$1,675$1,308$1,010$773$586$367
24 years$1,588$1,225$934$705$527$322
25 years$1,508$1,150$865$644$474$282
26 years$1,435$1,080$802$588$427$248
27 years$1,367$1,017$745$539$385$218
28 years$1,304$958$693$493$348$191
29 years$1,245$904$644$453$314$168
30 years$1,191$854$600$415$284$148
31 years$1,140$807$560$381$256$130
32 years$1,092$764$522$351$232$115
33 years$1,048$723$488$322$210$101
34 years$1,006$685$456$297$190$89
35 years$966$650$426$273$172$78
36 years$929$617$398$251$156$69
37 years$894$586$373$232$141$61
38 years$861$557$349$214$128$54
39 years$830$530$327$197$116$47
40 years$800$504$307$182$105$42
41 years$772$480$288$168$96$37
42 years$745$457$270$155$87$32
43 years$719$435$253$143$79$29
44 years$695$415$238$132$71$25
45 years$672$396$223$122$65$22
46 years$650$377$210$112$59$20
47 years$629$360$197$104$53$17
48 years$609$344$185$96$49$15
49 years$590$328$174$89$44$14
50 years$571$314$163$82$40$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $585,000, adding $5,629 every year, while hoping to spend $41,905 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: 44/29/27 Blend
60$585,000$585,000$585,000$585,000
61$650,476$619,471$610,404$673,787
62$672,238$605,239$586,266$676,707
63$694,816$588,904$559,915$675,428
64$718,247$570,321$531,232$673,231
65$742,574$549,333$500,094$670,055
66$767,841$525,774$466,372$665,834
67$794,095$499,472$429,930$660,502
68$821,387$470,240$390,627$653,988
69$849,771$437,885$348,315$646,216
70$879,306$402,199$302,841$637,110
71$910,053$362,964$254,044$626,589
72$942,079$319,950$201,756$614,569
73$975,457$272,914$145,800$600,960
74$1,010,264$221,597$85,995$585,673
75$1,046,583$165,727$22,148$568,610
76$1,084,505$105,019$0$549,673
77$1,124,127$39,167$0$542,008
78$1,165,554$0$0$539,929
79$1,208,900$0$0$547,259
80$1,254,288$0$0$568,041
81$1,301,850$0$0$589,839
82$1,351,733$0$0$612,721
83$1,404,091$0$0$636,764
84$1,459,097$0$0$662,047
85$1,516,934$0$0$688,660
86$1,577,804$0$0$716,698
87$1,641,927$0$0$746,267
88$1,709,541$0$0$777,481
89$1,780,905$0$0$810,463
90$1,856,304$0$0$845,351
91$1,936,047$0$0$882,293
92$2,020,471$0$0$921,450
93$2,109,945$0$0$963,000
94$2,204,872$0$0$1,007,136
95$2,305,692$0$0$1,054,070
96$2,412,888$0$0$1,104,034
97$2,526,986$0$0$1,157,281
98$2,648,564$0$0$1,214,090
99$2,778,254$0$0$1,274,764
100$2,916,747$0$0$1,339,637