Can I retire at age 63 with 590,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $590,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$48,722$48,288$47,864$47,451$47,047$46,421
2 years$24,120$23,670$23,235$22,813$22,404$21,773
3 years$15,920$15,469$15,035$14,616$14,214$13,600
4 years$11,821$11,371$10,941$10,530$10,137$9,544
5 years$9,362$8,915$8,491$8,088$7,706$7,135
6 years$7,724$7,280$6,862$6,468$6,098$5,550
7 years$6,554$6,114$5,702$5,318$4,959$4,434
8 years$5,677$5,241$4,836$4,461$4,114$3,612
9 years$4,995$4,563$4,165$3,800$3,465$2,986
10 years$4,450$4,022$3,631$3,276$2,952$2,496
11 years$4,004$3,580$3,197$2,851$2,539$2,105
12 years$3,633$3,214$2,837$2,500$2,200$1,788
13 years$3,319$2,904$2,535$2,208$1,919$1,527
14 years$3,050$2,640$2,278$1,960$1,682$1,311
15 years$2,817$2,412$2,056$1,748$1,481$1,130
16 years$2,614$2,213$1,864$1,565$1,309$977
17 years$2,435$2,038$1,697$1,406$1,160$848
18 years$2,275$1,883$1,549$1,267$1,032$737
19 years$2,133$1,745$1,418$1,145$920$642
20 years$2,005$1,622$1,301$1,037$821$560
21 years$1,890$1,510$1,197$941$735$490
22 years$1,785$1,410$1,103$856$659$429
23 years$1,689$1,319$1,018$779$591$376
24 years$1,602$1,236$942$711$532$329
25 years$1,521$1,159$872$649$478$289
26 years$1,447$1,090$809$593$431$254
27 years$1,378$1,026$751$543$389$223
28 years$1,315$966$698$498$351$196
29 years$1,256$912$650$456$317$173
30 years$1,201$861$605$419$286$152
31 years$1,150$814$564$385$259$134
32 years$1,102$770$527$354$234$118
33 years$1,057$729$492$325$212$104
34 years$1,014$691$459$299$192$92
35 years$975$656$430$275$174$81
36 years$937$622$402$254$157$71
37 years$902$591$376$234$143$63
38 years$868$562$352$215$129$56
39 years$837$534$330$199$117$49
40 years$807$508$309$183$106$43
41 years$778$484$290$169$96$38
42 years$751$461$272$156$88$34
43 years$725$439$255$144$79$30
44 years$701$418$240$133$72$26
45 years$678$399$225$123$65$23
46 years$655$381$211$113$59$21
47 years$634$363$199$105$54$18
48 years$614$347$187$97$49$16
49 years$595$331$175$89$45$14
50 years$576$316$165$83$40$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $590,000, adding $4,988 every year, while hoping to spend $32,046 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: 65/29/6 Blend
62$590,000$590,000$590,000$590,000
63$655,325$624,055$614,910$696,959
64$688,072$620,537$601,413$721,747
65$723,084$615,773$586,390$744,534
66$760,560$609,667$569,755$768,580
67$800,716$602,119$551,420$794,005
68$843,789$593,023$531,293$820,940
69$890,039$582,265$509,275$849,532
70$939,753$569,726$485,265$879,942
71$993,244$555,278$459,158$912,350
72$1,050,856$538,788$430,841$946,955
73$1,112,968$520,114$400,199$983,979
74$1,179,996$499,105$367,111$1,023,665
75$1,252,396$475,602$331,450$1,066,285
76$1,330,671$449,436$293,083$1,112,139
77$1,415,371$420,430$251,873$1,161,559
78$1,507,103$388,395$207,675$1,214,913
79$1,606,533$353,133$160,338$1,272,609
80$1,714,396$314,432$109,706$1,335,099
81$1,831,496$272,071$55,613$1,402,883
82$1,958,720$225,814$0$1,476,512
83$2,097,045$175,414$0$1,556,737
84$2,247,542$120,608$0$1,647,905
85$2,411,393$61,120$0$1,747,216
86$2,589,897$0$0$1,855,510
87$2,784,483$0$0$1,974,785
88$2,996,725$0$0$2,126,192
89$3,228,355$0$0$2,291,467
90$3,481,279$0$0$2,471,975
91$3,757,596$0$0$2,669,218
92$4,059,616$0$0$2,884,851
93$4,389,882$0$0$3,120,694
94$4,751,195$0$0$3,378,754
95$5,146,639$0$0$3,661,238
96$5,579,609$0$0$3,970,577
97$6,053,844$0$0$4,309,450
98$6,573,462$0$0$4,680,804
99$7,142,999$0$0$5,087,889
100$7,767,448$0$0$5,534,279