Can I retire at age 63 with 581,000?

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 $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%13.3%
1 years$47,978$47,551$47,134$46,727$46,330$45,694
2 years$23,752$23,309$22,881$22,465$22,062$21,422
3 years$15,677$15,233$14,805$14,394$13,997$13,374
4 years$11,641$11,198$10,774$10,370$9,983$9,381
5 years$9,219$8,779$8,361$7,965$7,589$7,009
6 years$7,606$7,169$6,757$6,370$6,005$5,449
7 years$6,454$6,020$5,615$5,237$4,883$4,351
8 years$5,590$5,161$4,762$4,393$4,051$3,543
9 years$4,919$4,493$4,102$3,742$3,412$2,927
10 years$4,382$3,961$3,576$3,226$2,907$2,445
11 years$3,943$3,526$3,148$2,807$2,500$2,061
12 years$3,577$3,165$2,794$2,462$2,167$1,749
13 years$3,268$2,860$2,496$2,174$1,889$1,493
14 years$3,004$2,600$2,243$1,930$1,656$1,281
15 years$2,774$2,375$2,025$1,721$1,458$1,103
16 years$2,574$2,179$1,836$1,541$1,289$954
17 years$2,397$2,007$1,671$1,384$1,143$826
18 years$2,241$1,854$1,525$1,248$1,016$718
19 years$2,101$1,718$1,396$1,127$906$625
20 years$1,975$1,597$1,281$1,021$809$545
21 years$1,861$1,487$1,179$927$724$476
22 years$1,758$1,388$1,086$843$649$416
23 years$1,663$1,299$1,003$767$582$365
24 years$1,577$1,217$928$700$524$319
25 years$1,498$1,142$859$639$471$280
26 years$1,425$1,073$797$584$424$246
27 years$1,357$1,010$740$535$383$216
28 years$1,295$952$688$490$345$190
29 years$1,237$898$640$449$312$167
30 years$1,183$848$596$412$282$147
31 years$1,132$801$556$379$255$129
32 years$1,085$758$519$348$230$114
33 years$1,040$718$484$320$208$100
34 years$999$681$452$295$189$88
35 years$960$646$423$271$171$78
36 years$923$613$396$250$155$69
37 years$888$582$370$230$140$60
38 years$855$553$347$212$127$53
39 years$824$526$325$196$115$47
40 years$794$500$305$180$105$41
41 years$766$476$286$166$95$37
42 years$740$454$268$154$86$32
43 years$714$432$251$142$78$28
44 years$690$412$236$131$71$25
45 years$667$393$222$121$64$22
46 years$645$375$208$112$59$20
47 years$625$358$195$103$53$17
48 years$605$341$184$95$48$15
49 years$586$326$173$88$44$13
50 years$567$311$162$81$40$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $581,000, adding $4,165 every year, while hoping to spend $32,974 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: 32/50/18 Blend
62$581,000$581,000$581,000$581,000
63$644,558$613,765$604,760$661,449
64$675,219$608,756$589,935$669,363
65$707,902$602,395$573,509$674,567
66$742,779$594,584$555,392$679,470
67$780,037$585,213$535,493$684,067
68$819,883$574,171$513,714$688,351
69$862,542$561,336$489,954$692,322
70$908,262$546,582$464,108$695,979
71$957,314$529,773$436,065$699,328
72$1,009,996$510,768$405,709$702,377
73$1,066,635$489,416$372,920$705,141
74$1,127,591$465,556$337,571$707,638
75$1,193,257$439,020$299,532$709,895
76$1,264,066$409,629$258,663$711,946
77$1,340,495$377,195$214,823$713,831
78$1,423,065$341,517$167,859$715,604
79$1,512,352$302,386$117,616$717,326
80$1,608,986$259,577$63,930$719,074
81$1,713,661$212,855$6,631$720,936
82$1,827,141$161,971$0$723,019
83$1,950,265$106,663$0$735,916
84$2,083,955$46,652$0$751,340
85$2,229,226$0$0$768,220
86$2,387,195$0$0$796,886
87$2,559,091$0$0$856,088
88$2,746,265$0$0$920,633
89$2,950,204$0$0$991,044
90$3,172,545$0$0$1,067,897
91$3,415,090$0$0$1,151,825
92$3,679,821$0$0$1,243,527
93$3,968,920$0$0$1,343,771
94$4,284,792$0$0$1,453,401
95$4,630,080$0$0$1,573,349
96$5,007,697$0$0$1,704,641
97$5,420,850$0$0$1,848,405
98$5,873,068$0$0$2,005,885
99$6,368,241$0$0$2,178,449
100$6,910,649$0$0$2,367,605