Can I retire at age 63 with 591,000?

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 $591,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$48,804$48,370$47,945$47,531$47,127$46,251
2 years$24,161$23,711$23,274$22,852$22,442$21,562
3 years$15,947$15,495$15,060$14,641$14,238$13,383
4 years$11,841$11,391$10,960$10,548$10,155$9,330
5 years$9,378$8,930$8,505$8,102$7,719$6,928
6 years$7,737$7,292$6,874$6,479$6,108$5,351
7 years$6,565$6,124$5,712$5,327$4,967$4,244
8 years$5,686$5,249$4,844$4,469$4,121$3,432
9 years$5,003$4,571$4,172$3,806$3,470$2,815
10 years$4,457$4,029$3,638$3,281$2,957$2,334
11 years$4,011$3,587$3,202$2,856$2,543$1,953
12 years$3,639$3,219$2,842$2,505$2,204$1,645
13 years$3,324$2,909$2,539$2,211$1,922$1,393
14 years$3,055$2,644$2,281$1,963$1,685$1,186
15 years$2,822$2,416$2,060$1,751$1,483$1,013
16 years$2,618$2,216$1,868$1,567$1,311$868
17 years$2,439$2,041$1,699$1,408$1,162$746
18 years$2,279$1,886$1,551$1,269$1,034$642
19 years$2,137$1,748$1,420$1,147$921$554
20 years$2,009$1,624$1,303$1,039$823$479
21 years$1,893$1,513$1,199$943$736$415
22 years$1,788$1,412$1,105$857$660$359
23 years$1,692$1,321$1,020$781$592$312
24 years$1,604$1,238$944$712$533$271
25 years$1,524$1,161$874$650$479$235
26 years$1,449$1,092$810$594$432$204
27 years$1,381$1,027$753$544$389$178
28 years$1,317$968$700$499$351$155
29 years$1,258$913$651$457$317$135
30 years$1,203$862$606$420$286$117
31 years$1,152$815$565$385$259$102
32 years$1,103$771$528$354$234$89
33 years$1,058$731$493$326$212$78
34 years$1,016$692$460$300$192$68
35 years$976$657$430$276$174$59
36 years$939$623$402$254$158$52
37 years$903$592$377$234$143$45
38 years$870$563$353$216$129$39
39 years$838$535$331$199$117$34
40 years$808$509$310$183$106$30
41 years$779$485$290$169$97$26
42 years$752$461$272$156$88$23
43 years$727$440$256$144$80$20
44 years$702$419$240$133$72$17
45 years$679$400$225$123$66$15
46 years$657$381$212$114$60$13
47 years$635$364$199$105$54$12
48 years$615$347$187$97$49$10
49 years$596$332$176$90$45$9
50 years$577$317$165$83$40$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $591,000, adding $2,061 every year, while hoping to spend $22,721 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: 54/29/17 Blend
62$591,000$591,000$591,000$591,000
63$653,408$622,085$612,924$685,603
64$695,881$628,392$609,282$714,128
65$741,924$634,247$604,757$742,571
66$791,878$639,603$599,294$773,026
67$846,118$644,411$592,838$805,692
68$905,054$648,619$585,331$840,788
69$969,139$652,172$576,709$878,554
70$1,038,872$655,009$566,909$919,259
71$1,114,800$657,068$555,864$963,197
72$1,197,527$658,281$543,503$1,010,694
73$1,287,716$658,578$529,752$1,062,111
74$1,386,098$657,883$514,533$1,117,846
75$1,493,476$656,116$497,766$1,178,339
76$1,610,735$653,191$479,366$1,244,076
77$1,738,851$649,017$459,245$1,315,593
78$1,878,894$643,499$437,311$1,393,483
79$2,032,046$636,536$413,465$1,478,401
80$2,199,607$628,019$387,609$1,571,070
81$2,383,009$617,833$359,635$1,672,289
82$2,583,827$605,858$329,435$1,782,940
83$2,803,798$591,966$296,891$1,903,996
84$3,044,833$576,020$261,885$2,036,533
85$3,309,038$557,877$224,290$2,181,738
86$3,598,731$537,384$183,975$2,340,921
87$3,916,467$514,381$140,803$2,515,528
88$4,265,057$488,696$94,630$2,707,158
89$4,647,600$460,150$45,308$2,917,572
90$5,067,509$428,551$0$3,148,717
91$5,528,544$393,698$0$3,404,068
92$6,034,844$355,379$0$3,693,523
93$6,590,973$313,367$0$4,011,501
94$7,201,955$267,424$0$4,360,919
95$7,873,326$217,300$0$4,744,996
96$8,611,185$162,727$0$5,167,279
97$9,422,251$103,426$0$5,631,681
98$10,313,927$39,101$0$6,142,518
99$11,294,368$0$0$6,704,546
100$12,372,559$0$0$7,332,765