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%18.9%
1 years$48,391$47,960$47,540$47,129$46,728$45,053
2 years$23,956$23,510$23,078$22,658$22,252$20,581
3 years$15,812$15,364$14,933$14,517$14,117$12,505
4 years$11,741$11,294$10,867$10,459$10,069$8,527
5 years$9,299$8,855$8,433$8,033$7,654$6,187
6 years$7,671$7,231$6,815$6,424$6,056$4,665
7 years$6,509$6,072$5,664$5,282$4,925$3,609
8 years$5,638$5,205$4,803$4,431$4,086$2,844
9 years$4,961$4,532$4,137$3,774$3,441$2,271
10 years$4,419$3,995$3,607$3,253$2,932$1,832
11 years$3,977$3,556$3,175$2,831$2,522$1,490
12 years$3,608$3,192$2,818$2,483$2,185$1,219
13 years$3,296$2,885$2,518$2,193$1,906$1,003
14 years$3,029$2,622$2,262$1,946$1,670$828
15 years$2,798$2,395$2,042$1,736$1,471$686
16 years$2,596$2,198$1,852$1,554$1,300$569
17 years$2,418$2,024$1,685$1,396$1,153$474
18 years$2,260$1,870$1,538$1,258$1,025$395
19 years$2,119$1,733$1,408$1,137$913$330
20 years$1,992$1,611$1,292$1,030$816$276
21 years$1,877$1,500$1,189$935$730$231
22 years$1,773$1,400$1,096$850$654$193
23 years$1,678$1,310$1,012$774$587$162
24 years$1,591$1,227$936$706$528$136
25 years$1,511$1,152$866$645$475$114
26 years$1,437$1,082$804$589$428$96
27 years$1,369$1,019$746$540$386$80
28 years$1,306$960$694$494$348$67
29 years$1,247$905$646$453$314$57
30 years$1,193$855$601$416$284$48
31 years$1,142$808$561$382$257$40
32 years$1,094$765$523$351$232$34
33 years$1,049$724$488$323$210$28
34 years$1,007$687$456$297$190$24
35 years$968$651$427$274$172$20
36 years$931$618$399$252$156$17
37 years$896$587$374$232$142$14
38 years$862$558$350$214$128$12
39 years$831$530$328$197$116$10
40 years$801$505$307$182$106$8
41 years$773$480$288$168$96$7
42 years$746$458$270$155$87$6
43 years$721$436$254$143$79$5
44 years$696$416$238$132$72$4
45 years$673$396$223$122$65$4
46 years$651$378$210$113$59$3
47 years$630$361$197$104$54$2
48 years$610$344$185$96$49$2
49 years$591$329$174$89$44$2
50 years$572$314$164$82$40$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $586,000, adding $5,264 every year, while hoping to spend $38,043 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: 38/38/24 Blend
60$586,000$586,000$586,000$586,000
61$651,202$620,144$611,061$671,111
62$677,147$610,053$591,054$675,995
63$704,463$598,194$569,102$677,344
64$733,251$584,437$545,099$678,048
65$763,618$568,650$518,935$678,071
66$795,684$550,691$490,496$677,377
67$829,576$530,407$459,660$675,931
68$865,437$507,641$426,303$673,696
69$903,420$482,224$390,292$670,638
70$943,692$453,977$351,491$666,722
71$986,439$422,711$309,756$661,915
72$1,031,860$388,228$264,937$656,183
73$1,080,175$350,317$216,878$649,497
74$1,131,625$308,755$165,415$641,827
75$1,186,473$263,306$110,379$633,148
76$1,245,007$213,722$51,591$623,438
77$1,307,544$159,740$0$612,677
78$1,374,429$101,083$0$603,708
79$1,446,042$37,457$0$607,952
80$1,522,799$0$0$612,234
81$1,605,157$0$0$629,764
82$1,693,617$0$0$665,472
83$1,788,729$0$0$703,923
84$1,891,098$0$0$745,369
85$2,001,385$0$0$790,087
86$2,120,319$0$0$838,379
87$2,248,701$0$0$890,580
88$2,387,409$0$0$947,056
89$2,537,409$0$0$1,008,211
90$2,699,764$0$0$1,074,486
91$2,875,640$0$0$1,146,370
92$3,066,322$0$0$1,224,398
93$3,273,220$0$0$1,309,160
94$3,497,887$0$0$1,401,303
95$3,742,030$0$0$1,501,541
96$4,007,527$0$0$1,610,658
97$4,296,446$0$0$1,729,518
98$4,611,058$0$0$1,859,071
99$4,953,867$0$0$2,000,362
100$5,327,626$0$0$2,154,543