Can I retire at age 63 with 592,000?

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 $592,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.9%
1 years$48,887$48,451$48,026$47,612$47,207$46,066
2 years$24,201$23,751$23,314$22,890$22,479$21,337
3 years$15,974$15,521$15,086$14,666$14,262$13,153
4 years$11,861$11,410$10,978$10,566$10,172$9,105
5 years$9,394$8,945$8,520$8,116$7,732$6,712
6 years$7,750$7,305$6,885$6,490$6,118$5,144
7 years$6,576$6,134$5,722$5,336$4,976$4,048
8 years$5,696$5,258$4,852$4,476$4,128$3,247
9 years$5,012$4,578$4,179$3,813$3,476$2,641
10 years$4,465$4,036$3,644$3,287$2,962$2,171
11 years$4,017$3,593$3,208$2,860$2,547$1,800
12 years$3,645$3,225$2,847$2,509$2,208$1,502
13 years$3,330$2,914$2,543$2,215$1,925$1,261
14 years$3,060$2,649$2,285$1,966$1,687$1,063
15 years$2,827$2,420$2,063$1,754$1,486$899
16 years$2,623$2,220$1,871$1,570$1,313$763
17 years$2,443$2,045$1,702$1,411$1,164$649
18 years$2,283$1,889$1,554$1,271$1,035$553
19 years$2,140$1,751$1,423$1,149$923$472
20 years$2,012$1,627$1,306$1,040$824$404
21 years$1,896$1,516$1,201$944$738$346
22 years$1,791$1,415$1,107$859$661$297
23 years$1,695$1,323$1,022$782$593$255
24 years$1,607$1,240$945$713$533$219
25 years$1,526$1,163$875$651$480$188
26 years$1,452$1,093$812$595$432$161
27 years$1,383$1,029$754$545$390$139
28 years$1,319$970$701$499$352$120
29 years$1,260$915$652$458$318$103
30 years$1,205$864$607$420$287$89
31 years$1,154$817$566$386$259$76
32 years$1,105$773$528$355$235$66
33 years$1,060$732$493$326$212$57
34 years$1,018$694$461$300$192$49
35 years$978$658$431$276$174$42
36 years$940$624$403$254$158$36
37 years$905$593$377$234$143$31
38 years$871$564$353$216$130$27
39 years$839$536$331$199$118$23
40 years$809$510$310$184$107$20
41 years$781$485$291$170$97$17
42 years$754$462$273$156$88$15
43 years$728$440$256$144$80$13
44 years$703$420$240$133$72$11
45 years$680$400$226$123$66$10
46 years$658$382$212$114$60$8
47 years$636$364$199$105$54$7
48 years$616$348$187$97$49$6
49 years$597$332$176$90$45$5
50 years$578$317$165$83$41$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $592,000, adding $5,272 every year, while hoping to spend $31,014 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: 57/23/20 Blend
62$592,000$592,000$592,000$592,000
63$657,822$626,446$617,270$691,523
64$691,921$624,143$604,950$712,765
65$728,459$620,688$591,178$732,115
66$767,652$615,992$575,872$752,518
67$809,736$609,959$558,947$774,083
68$854,972$602,490$540,315$796,931
69$903,645$593,478$519,882$821,196
70$956,069$582,811$497,550$847,029
71$1,012,588$570,369$473,218$874,595
72$1,073,581$556,026$446,780$904,080
73$1,139,463$539,647$418,123$935,689
74$1,210,691$521,093$387,133$969,653
75$1,287,766$500,211$353,687$1,006,223
76$1,371,242$476,845$317,659$1,045,684
77$1,461,723$450,825$278,915$1,088,348
78$1,559,878$421,974$237,318$1,134,562
79$1,666,440$390,106$192,723$1,184,714
80$1,782,217$355,020$144,978$1,239,230
81$1,908,095$316,508$93,927$1,298,585
82$2,045,052$274,348$39,405$1,363,305
83$2,194,161$228,306$0$1,433,973
84$2,356,606$178,133$0$1,515,244
85$2,533,688$123,570$0$1,613,059
86$2,726,838$64,339$0$1,719,834
87$2,937,633$149$0$1,836,487
88$3,167,808$0$0$1,964,034
89$3,419,273$0$0$2,121,138
90$3,694,130$0$0$2,292,947
91$3,994,694$0$0$2,480,878
92$4,323,515$0$0$2,686,530
93$4,683,398$0$0$2,911,666
94$5,077,433$0$0$3,158,225
95$5,509,025$0$0$3,428,345
96$5,981,921$0$0$3,724,379
97$6,500,248$0$0$4,048,918
98$7,068,551$0$0$4,404,816
99$7,691,838$0$0$4,795,218
100$8,375,622$0$0$5,223,586