Can I retire at age 63 with 597,000?

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 $597,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$49,300$48,861$48,432$48,014$47,606$47,266
2 years$24,406$23,951$23,511$23,084$22,669$22,327
3 years$16,109$15,652$15,213$14,790$14,382$14,048
4 years$11,961$11,506$11,071$10,655$10,258$9,933
5 years$9,473$9,021$8,592$8,184$7,798$7,485
6 years$7,815$7,366$6,943$6,545$6,170$5,869
7 years$6,631$6,186$5,770$5,381$5,018$4,728
8 years$5,744$5,303$4,893$4,514$4,163$3,885
9 years$5,054$4,617$4,215$3,845$3,506$3,240
10 years$4,502$4,070$3,674$3,314$2,987$2,733
11 years$4,051$3,623$3,235$2,885$2,569$2,326
12 years$3,676$3,252$2,871$2,530$2,226$1,995
13 years$3,358$2,939$2,565$2,234$1,941$1,721
14 years$3,086$2,671$2,305$1,983$1,702$1,492
15 years$2,851$2,440$2,081$1,768$1,498$1,299
16 years$2,645$2,239$1,887$1,583$1,324$1,135
17 years$2,463$2,062$1,717$1,423$1,174$995
18 years$2,302$1,905$1,567$1,282$1,044$874
19 years$2,158$1,766$1,435$1,158$931$770
20 years$2,029$1,641$1,317$1,049$831$679
21 years$1,912$1,528$1,211$952$744$600
22 years$1,806$1,427$1,116$866$667$531
23 years$1,709$1,334$1,031$788$598$471
24 years$1,621$1,250$953$719$538$418
25 years$1,539$1,173$883$657$484$371
26 years$1,464$1,103$819$601$436$330
27 years$1,395$1,038$760$550$393$294
28 years$1,331$978$707$504$355$261
29 years$1,271$922$658$462$320$233
30 years$1,215$871$613$424$289$208
31 years$1,163$824$571$389$262$185
32 years$1,115$779$533$358$237$165
33 years$1,069$738$498$329$214$147
34 years$1,026$699$465$303$194$132
35 years$986$663$435$279$176$117
36 years$948$630$407$257$159$105
37 years$912$598$381$236$144$94
38 years$879$568$356$218$131$84
39 years$847$540$334$201$119$75
40 years$816$514$313$185$108$67
41 years$787$489$293$171$98$60
42 years$760$466$275$158$89$54
43 years$734$444$258$146$80$48
44 years$709$423$242$135$73$43
45 years$686$404$228$124$66$38
46 years$663$385$214$115$60$34
47 years$642$368$201$106$55$31
48 years$621$351$189$98$50$27
49 years$602$335$177$91$45$25
50 years$583$320$167$84$41$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $597,000, adding $5,174 every year, while hoping to spend $31,393 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: 60/22/18 Blend
62$597,000$597,000$597,000$597,000
63$663,231$631,590$622,336$699,644
64$697,479$629,136$609,783$722,408
65$734,167$625,510$595,757$743,303
66$773,513$620,620$580,175$765,376
67$815,753$614,372$562,952$788,746
68$861,146$606,662$543,997$813,545
69$909,978$597,384$523,216$839,918
70$962,562$586,422$500,511$868,029
71$1,019,243$573,656$475,777$898,058
72$1,080,397$558,958$448,908$930,205
73$1,146,442$542,190$419,790$964,692
74$1,217,831$523,210$388,305$1,001,766
75$1,295,068$501,865$354,331$1,041,701
76$1,378,703$477,994$317,739$1,084,799
77$1,469,342$451,427$278,395$1,131,399
78$1,567,651$421,984$236,158$1,181,871
79$1,674,364$389,474$190,882$1,236,631
80$1,790,286$353,695$142,413$1,296,136
81$1,916,305$314,435$90,593$1,360,894
82$2,053,394$271,469$35,254$1,431,466
83$2,202,628$224,558$0$1,508,475
84$2,365,186$173,452$0$1,597,181
85$2,542,370$117,886$0$1,701,300
86$2,735,608$57,578$0$1,814,933
87$2,946,474$0$0$1,939,053
88$3,176,702$0$0$2,076,614
89$3,428,198$0$0$2,242,152
90$3,703,063$0$0$2,423,119
91$4,003,606$0$0$2,621,040
92$4,332,375$0$0$2,837,598
93$4,692,170$0$0$3,074,645
94$5,086,079$0$0$3,334,221
95$5,517,498$0$0$3,618,571
96$5,990,169$0$0$3,930,170
97$6,508,215$0$0$4,271,740
98$7,076,174$0$0$4,646,282
99$7,699,044$0$0$5,057,101
100$8,382,332$0$0$5,507,835