Can I retire at age 63 with 591,000?

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 $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%11.6%
1 years$48,804$48,370$47,945$47,531$47,127$46,811
2 years$24,161$23,711$23,274$22,852$22,442$22,122
3 years$15,947$15,495$15,060$14,641$14,238$13,926
4 years$11,841$11,391$10,960$10,548$10,155$9,852
5 years$9,378$8,930$8,505$8,102$7,719$7,427
6 years$7,737$7,292$6,874$6,479$6,108$5,827
7 years$6,565$6,124$5,712$5,327$4,967$4,697
8 years$5,686$5,249$4,844$4,469$4,121$3,862
9 years$5,003$4,571$4,172$3,806$3,470$3,222
10 years$4,457$4,029$3,638$3,281$2,957$2,720
11 years$4,011$3,587$3,202$2,856$2,543$2,316
12 years$3,639$3,219$2,842$2,505$2,204$1,987
13 years$3,324$2,909$2,539$2,211$1,922$1,716
14 years$3,055$2,644$2,281$1,963$1,685$1,488
15 years$2,822$2,416$2,060$1,751$1,483$1,297
16 years$2,618$2,216$1,868$1,567$1,311$1,134
17 years$2,439$2,041$1,699$1,408$1,162$994
18 years$2,279$1,886$1,551$1,269$1,034$874
19 years$2,137$1,748$1,420$1,147$921$771
20 years$2,009$1,624$1,303$1,039$823$680
21 years$1,893$1,513$1,199$943$736$602
22 years$1,788$1,412$1,105$857$660$533
23 years$1,692$1,321$1,020$781$592$473
24 years$1,604$1,238$944$712$533$420
25 years$1,524$1,161$874$650$479$373
26 years$1,449$1,092$810$594$432$332
27 years$1,381$1,027$753$544$389$296
28 years$1,317$968$700$499$351$264
29 years$1,258$913$651$457$317$235
30 years$1,203$862$606$420$286$210
31 years$1,152$815$565$385$259$187
32 years$1,103$771$528$354$234$167
33 years$1,058$731$493$326$212$149
34 years$1,016$692$460$300$192$133
35 years$976$657$430$276$174$119
36 years$939$623$402$254$158$106
37 years$903$592$377$234$143$95
38 years$870$563$353$216$129$85
39 years$838$535$331$199$117$76
40 years$808$509$310$183$106$68
41 years$779$485$290$169$97$61
42 years$752$461$272$156$88$55
43 years$727$440$256$144$80$49
44 years$702$419$240$133$72$44
45 years$679$400$225$123$66$39
46 years$657$381$212$114$60$35
47 years$635$364$199$105$54$31
48 years$615$347$187$97$49$28
49 years$596$332$176$90$45$25
50 years$577$317$165$83$40$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $591,000, adding $2,404 every year, while hoping to spend $27,546 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: 66/23/11 Blend
62$591,000$591,000$591,000$591,000
63$653,762$622,439$613,278$695,186
64$691,137$623,629$604,514$724,276
65$731,401$623,955$594,534$752,581
66$774,819$623,345$583,266$782,810
67$821,684$621,722$570,639$815,150
68$872,316$619,007$556,576$849,805
69$927,068$615,113$540,996$887,002
70$986,325$609,951$523,816$926,992
71$1,050,515$603,423$504,949$970,050
72$1,120,106$595,429$484,303$1,016,483
73$1,195,611$585,859$461,781$1,066,628
74$1,277,598$574,601$437,285$1,120,857
75$1,366,688$561,531$410,709$1,179,583
76$1,463,567$546,523$381,945$1,243,261
77$1,568,988$529,440$350,877$1,312,392
78$1,683,780$510,138$317,387$1,387,532
79$1,808,856$488,465$281,350$1,469,294
80$1,945,219$464,259$242,635$1,558,353
81$2,093,975$437,352$201,107$1,655,458
82$2,256,340$407,562$156,624$1,761,434
83$2,433,653$374,698$109,037$1,877,191
84$2,627,387$338,560$58,191$2,003,735
85$2,839,166$298,935$3,926$2,142,178
86$3,070,775$255,597$0$2,293,744
87$3,324,182$208,309$0$2,466,124
88$3,601,553$156,820$0$2,655,380
89$3,905,271$100,865$0$2,862,719
90$4,237,965$40,163$0$3,089,985
91$4,602,525$0$0$3,339,210
92$5,002,138$0$0$3,619,109
93$5,440,311$0$0$3,937,201
94$5,920,908$0$0$4,286,131
95$6,448,185$0$0$4,668,991
96$7,026,830$0$0$5,089,193
97$7,662,005$0$0$5,550,490
98$8,359,400$0$0$6,057,018
99$9,125,279$0$0$6,613,334
100$9,966,543$0$0$7,224,458