Can I retire at age 63 with 584,000?

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 $584,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.5%
1 years$48,226$47,797$47,377$46,968$46,569$45,151
2 years$23,874$23,430$22,999$22,581$22,176$20,759
3 years$15,758$15,312$14,882$14,468$14,069$12,698
4 years$11,701$11,256$10,830$10,423$10,034$8,720
5 years$9,267$8,825$8,405$8,006$7,628$6,374
6 years$7,645$7,206$6,792$6,403$6,036$4,843
7 years$6,487$6,052$5,644$5,264$4,909$3,777
8 years$5,619$5,187$4,787$4,416$4,072$3,001
9 years$4,944$4,516$4,123$3,761$3,429$2,417
10 years$4,404$3,981$3,594$3,242$2,922$1,967
11 years$3,963$3,544$3,164$2,822$2,513$1,614
12 years$3,596$3,181$2,808$2,475$2,178$1,333
13 years$3,285$2,875$2,509$2,185$1,899$1,107
14 years$3,019$2,613$2,254$1,940$1,665$923
15 years$2,789$2,387$2,035$1,730$1,466$772
16 years$2,587$2,190$1,845$1,549$1,295$648
17 years$2,410$2,017$1,679$1,392$1,149$545
18 years$2,252$1,864$1,533$1,254$1,021$459
19 years$2,111$1,727$1,403$1,133$910$387
20 years$1,985$1,605$1,288$1,026$813$327
21 years$1,870$1,495$1,185$931$728$277
22 years$1,767$1,396$1,092$847$652$234
23 years$1,672$1,305$1,008$771$585$198
24 years$1,585$1,223$932$703$526$168
25 years$1,506$1,148$864$642$474$143
26 years$1,432$1,079$801$587$427$121
27 years$1,364$1,015$744$538$385$103
28 years$1,302$957$691$493$347$87
29 years$1,243$902$643$452$313$74
30 years$1,189$852$599$415$283$63
31 years$1,138$806$559$381$256$54
32 years$1,090$762$521$350$232$46
33 years$1,046$722$487$322$210$39
34 years$1,004$684$455$296$190$33
35 years$965$649$425$273$172$28
36 years$928$616$398$251$156$24
37 years$893$585$372$231$141$20
38 years$859$556$349$213$128$17
39 years$828$529$327$197$116$15
40 years$798$503$306$181$105$12
41 years$770$479$287$167$95$11
42 years$744$456$269$154$87$9
43 years$718$434$253$143$79$8
44 years$694$414$237$132$71$7
45 years$671$395$223$122$65$6
46 years$649$377$209$112$59$5
47 years$628$360$197$104$53$4
48 years$608$343$185$96$49$3
49 years$589$328$174$89$44$3
50 years$570$313$163$82$40$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $584,000, adding $2,663 every year, while hoping to spend $28,503 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: 60/23/17 Blend
62$584,000$584,000$584,000$584,000
63$646,315$615,363$606,311$682,123
64$681,912$615,189$596,295$706,443
65$720,185$614,051$584,989$729,563
66$761,376$611,871$572,318$754,124
67$805,752$608,569$558,207$780,269
68$853,606$604,056$542,574$808,156
69$905,260$598,241$525,337$837,963
70$961,067$591,025$506,406$869,883
71$1,021,416$582,305$485,690$904,132
72$1,086,733$571,971$463,094$940,949
73$1,157,488$559,906$438,516$980,599
74$1,234,198$545,987$411,852$1,023,375
75$1,317,429$530,084$382,992$1,069,601
76$1,407,806$512,057$351,821$1,119,638
77$1,506,016$491,761$318,220$1,173,882
78$1,612,813$469,041$282,064$1,232,774
79$1,729,028$443,733$243,222$1,296,801
80$1,855,577$415,664$201,558$1,366,501
81$1,993,464$384,650$156,929$1,442,471
82$2,143,798$350,498$109,186$1,525,370
83$2,307,796$313,003$58,174$1,615,927
84$2,486,800$271,948$3,732$1,714,948
85$2,682,285$227,106$0$1,823,325
86$2,895,878$178,234$0$1,951,905
87$3,129,368$125,077$0$2,093,279
88$3,384,723$67,366$0$2,248,006
89$3,664,115$4,817$0$2,417,452
90$3,969,929$0$0$2,603,123
91$4,304,798$0$0$2,822,594
92$4,671,615$0$0$3,064,387
93$5,073,572$0$0$3,329,389
94$5,514,180$0$0$3,619,923
95$5,997,308$0$0$3,938,547
96$6,527,216$0$0$4,288,076
97$7,108,598$0$0$4,671,612
98$7,746,622$0$0$5,092,573
99$8,446,982$0$0$5,554,722
100$9,215,951$0$0$6,062,206