Can I retire at age 63 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%14.4%
1 years$48,061$47,633$47,215$46,808$46,409$45,566
2 years$23,793$23,349$22,920$22,504$22,100$21,253
3 years$15,704$15,259$14,831$14,418$14,021$13,197
4 years$11,661$11,217$10,793$10,388$10,000$9,205
5 years$9,235$8,794$8,376$7,979$7,602$6,839
6 years$7,619$7,181$6,769$6,381$6,015$5,285
7 years$6,465$6,031$5,625$5,246$4,892$4,194
8 years$5,600$5,169$4,770$4,401$4,058$3,393
9 years$4,927$4,501$4,109$3,748$3,418$2,785
10 years$4,389$3,967$3,582$3,231$2,912$2,311
11 years$3,950$3,532$3,154$2,812$2,504$1,934
12 years$3,583$3,170$2,799$2,467$2,170$1,630
13 years$3,274$2,865$2,501$2,178$1,893$1,382
14 years$3,009$2,604$2,247$1,933$1,659$1,177
15 years$2,779$2,379$2,028$1,724$1,461$1,006
16 years$2,578$2,183$1,839$1,544$1,291$863
17 years$2,402$2,010$1,674$1,387$1,145$742
18 years$2,245$1,857$1,528$1,250$1,018$639
19 years$2,104$1,721$1,399$1,129$907$552
20 years$1,978$1,600$1,284$1,023$810$478
21 years$1,864$1,490$1,181$928$725$414
22 years$1,761$1,391$1,088$844$650$359
23 years$1,666$1,301$1,005$769$583$311
24 years$1,580$1,219$929$701$524$271
25 years$1,500$1,144$861$640$472$235
26 years$1,427$1,075$798$585$425$205
27 years$1,360$1,012$741$536$383$178
28 years$1,297$953$689$491$346$155
29 years$1,239$899$641$450$312$135
30 years$1,185$849$597$413$282$118
31 years$1,134$803$557$379$255$103
32 years$1,087$760$519$349$231$90
33 years$1,042$719$485$321$209$78
34 years$1,001$682$453$295$189$68
35 years$961$647$424$272$171$60
36 years$924$614$396$250$155$52
37 years$889$583$371$230$141$46
38 years$856$554$347$212$127$40
39 years$825$527$325$196$116$35
40 years$796$501$305$181$105$30
41 years$768$477$286$167$95$27
42 years$741$454$268$154$86$23
43 years$716$433$252$142$78$20
44 years$691$413$236$131$71$18
45 years$669$394$222$121$65$15
46 years$647$375$208$112$59$13
47 years$626$358$196$103$53$12
48 years$606$342$184$95$48$10
49 years$587$327$173$88$44$9
50 years$568$312$163$82$40$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $582,000, adding $2,779 every year, while hoping to spend $23,582 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: 42/41/17 Blend
62$582,000$582,000$582,000$582,000
63$644,231$613,385$604,364$667,973
64$684,851$618,349$599,519$689,977
65$728,824$622,767$593,721$711,265
66$776,468$626,586$586,914$733,819
67$828,130$629,751$579,038$757,765
68$884,194$632,204$570,031$783,246
69$945,082$633,882$559,827$810,417
70$1,011,257$634,719$548,358$839,455
71$1,083,231$634,646$535,554$870,551
72$1,161,564$633,586$521,338$903,921
73$1,246,873$631,462$505,633$939,802
74$1,339,840$628,190$488,357$978,459
75$1,441,211$623,678$469,425$1,020,186
76$1,551,811$617,835$448,746$1,065,305
77$1,672,545$610,558$426,228$1,114,178
78$1,804,411$601,741$401,773$1,167,204
79$1,948,507$591,273$375,279$1,224,824
80$2,106,042$579,033$346,639$1,287,528
81$2,278,348$564,895$315,741$1,355,858
82$2,466,890$548,726$282,468$1,430,414
83$2,673,282$530,382$246,700$1,511,862
84$2,899,301$509,715$208,309$1,600,936
85$3,146,904$486,566$167,162$1,698,453
86$3,418,247$460,767$123,121$1,805,311
87$3,715,704$432,139$76,040$1,922,509
88$4,041,888$400,496$25,770$2,051,149
89$4,399,678$365,639$0$2,192,451
90$4,792,248$327,358$0$2,352,820
91$5,223,089$285,430$0$2,534,009
92$5,696,050$239,622$0$2,733,017
93$6,215,370$189,686$0$2,951,700
94$6,785,717$135,361$0$3,192,107
95$7,412,236$76,369$0$3,456,498
96$8,100,593$12,419$0$3,747,372
97$8,857,029$0$0$4,067,484
98$9,688,423$0$0$4,445,502
99$10,602,350$0$0$4,867,285
100$11,607,157$0$0$5,331,093