Can I retire at age 63 with 587,000?

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 $587,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$48,474$48,042$47,621$47,210$46,808$45,603
2 years$23,997$23,550$23,117$22,697$22,290$21,083
3 years$15,839$15,390$14,958$14,542$14,141$12,972
4 years$11,761$11,313$10,886$10,477$10,086$8,962
5 years$9,315$8,870$8,448$8,047$7,667$6,592
6 years$7,684$7,243$6,827$6,435$6,067$5,041
7 years$6,520$6,083$5,673$5,291$4,934$3,959
8 years$5,648$5,214$4,811$4,438$4,093$3,167
9 years$4,969$4,540$4,144$3,781$3,447$2,570
10 years$4,427$4,001$3,613$3,259$2,937$2,108
11 years$3,983$3,562$3,181$2,836$2,526$1,743
12 years$3,614$3,197$2,823$2,488$2,189$1,451
13 years$3,302$2,889$2,522$2,196$1,909$1,214
14 years$3,035$2,626$2,266$1,950$1,673$1,021
15 years$2,803$2,399$2,046$1,739$1,473$861
16 years$2,601$2,201$1,855$1,557$1,302$729
17 years$2,422$2,027$1,688$1,399$1,154$618
18 years$2,264$1,873$1,541$1,261$1,027$525
19 years$2,122$1,736$1,411$1,139$915$447
20 years$1,995$1,613$1,295$1,032$817$381
21 years$1,880$1,503$1,191$936$731$326
22 years$1,776$1,403$1,097$851$656$278
23 years$1,680$1,312$1,013$775$588$238
24 years$1,593$1,229$937$707$529$204
25 years$1,513$1,154$868$646$476$174
26 years$1,440$1,084$805$590$429$150
27 years$1,371$1,020$748$540$387$128
28 years$1,308$961$695$495$349$110
29 years$1,250$907$647$454$315$94
30 years$1,195$857$602$417$285$81
31 years$1,144$810$562$383$257$70
32 years$1,096$766$524$352$233$60
33 years$1,051$726$489$323$211$51
34 years$1,009$688$457$298$191$44
35 years$970$652$427$274$173$38
36 years$932$619$400$252$156$33
37 years$897$588$374$232$142$28
38 years$864$559$350$214$129$24
39 years$832$531$328$198$117$21
40 years$803$506$308$182$106$18
41 years$774$481$289$168$96$15
42 years$747$458$271$155$87$13
43 years$722$437$254$143$79$11
44 years$697$416$238$132$72$10
45 years$674$397$224$122$65$8
46 years$652$379$210$113$59$7
47 years$631$361$198$104$54$6
48 years$611$345$186$96$49$5
49 years$592$329$174$89$44$5
50 years$573$315$164$82$40$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $587,000, adding $4,502 every year, while hoping to spend $43,377 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: 47/32/21 Blend
62$587,000$587,000$587,000$587,000
63$651,518$620,407$611,308$678,052
64$671,820$604,654$585,634$681,297
65$692,739$586,675$557,646$680,125
66$714,292$566,316$527,221$677,957
67$736,497$543,413$494,230$674,718
68$759,371$517,791$458,538$670,331
69$782,932$489,269$420,005$664,713
70$807,199$457,651$378,483$657,777
71$832,190$422,732$333,819$649,429
72$857,924$384,297$285,852$639,573
73$884,419$342,114$234,415$628,104
74$911,695$295,943$179,334$614,914
75$939,771$245,527$120,424$599,887
76$968,666$190,596$57,496$582,900
77$998,398$130,864$0$563,825
78$1,028,988$66,029$0$544,689
79$1,060,453$0$0$537,075
80$1,092,813$0$0$529,468
81$1,126,086$0$0$545,550
82$1,160,289$0$0$562,078
83$1,195,440$0$0$579,060
84$1,231,556$0$0$596,502
85$1,268,653$0$0$614,413
86$1,306,745$0$0$632,798
87$1,345,846$0$0$651,664
88$1,385,969$0$0$671,015
89$1,427,123$0$0$690,855
90$1,469,319$0$0$711,188
91$1,512,563$0$0$732,016
92$1,556,858$0$0$753,340
93$1,602,208$0$0$775,158
94$1,648,609$0$0$797,468
95$1,696,057$0$0$820,266
96$1,744,542$0$0$843,545
97$1,794,050$0$0$867,297
98$1,844,563$0$0$891,509
99$1,896,055$0$0$916,167
100$1,948,494$0$0$941,253