Can I retire at age 63 with 599,000?

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 $599,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$49,465$49,024$48,594$48,175$47,765$46,993
2 years$24,488$24,031$23,590$23,161$22,745$21,970
3 years$16,163$15,705$15,264$14,839$14,431$13,675
4 years$12,001$11,545$11,108$10,691$10,292$9,563
5 years$9,505$9,051$8,620$8,212$7,824$7,123
6 years$7,841$7,391$6,967$6,567$6,191$5,520
7 years$6,654$6,207$5,789$5,399$5,035$4,393
8 years$5,763$5,320$4,910$4,529$4,177$3,564
9 years$5,071$4,632$4,229$3,858$3,517$2,934
10 years$4,517$4,083$3,687$3,325$2,997$2,442
11 years$4,065$3,635$3,246$2,894$2,578$2,050
12 years$3,688$3,263$2,881$2,539$2,234$1,734
13 years$3,369$2,949$2,574$2,241$1,948$1,474
14 years$3,097$2,680$2,312$1,989$1,707$1,260
15 years$2,860$2,448$2,088$1,774$1,503$1,081
16 years$2,654$2,246$1,893$1,589$1,329$930
17 years$2,472$2,069$1,722$1,427$1,178$803
18 years$2,310$1,912$1,572$1,286$1,047$694
19 years$2,166$1,772$1,439$1,162$934$602
20 years$2,036$1,646$1,321$1,053$834$522
21 years$1,918$1,533$1,215$955$746$454
22 years$1,812$1,431$1,120$869$669$395
23 years$1,715$1,339$1,034$791$600$345
24 years$1,626$1,254$956$722$540$301
25 years$1,544$1,177$886$659$486$262
26 years$1,469$1,106$821$603$437$229
27 years$1,400$1,041$763$552$394$200
28 years$1,335$981$709$505$356$175
29 years$1,275$926$660$463$321$153
30 years$1,219$874$615$425$290$134
31 years$1,167$826$573$391$263$118
32 years$1,118$782$535$359$237$103
33 years$1,073$740$499$330$215$90
34 years$1,030$702$466$304$195$79
35 years$989$666$436$280$176$69
36 years$951$632$408$257$160$61
37 years$915$600$382$237$145$53
38 years$881$570$358$219$131$47
39 years$849$542$335$202$119$41
40 years$819$516$314$186$108$36
41 years$790$491$294$172$98$32
42 years$763$468$276$158$89$28
43 years$737$446$259$146$81$24
44 years$712$425$243$135$73$21
45 years$688$405$228$125$66$19
46 years$665$386$215$115$60$16
47 years$644$369$202$106$55$14
48 years$623$352$189$98$50$13
49 years$604$336$178$91$45$11
50 years$585$321$167$84$41$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $599,000, adding $4,914 every year, while hoping to spend $32,908 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: 54/33/13 Blend
62$599,000$599,000$599,000$599,000
63$665,167$633,420$624,135$698,571
64$698,000$629,444$610,030$717,868
65$733,079$624,169$594,349$734,894
66$770,599$617,499$577,005$752,668
67$810,772$609,329$557,907$771,268
68$853,832$599,547$536,959$790,784
69$900,036$588,038$514,060$811,312
70$949,665$574,677$489,106$832,965
71$1,003,027$559,333$461,987$855,865
72$1,060,462$541,866$432,590$880,151
73$1,122,341$522,130$400,794$905,977
74$1,189,075$499,969$366,475$933,516
75$1,261,111$475,218$329,503$962,962
76$1,338,943$447,703$289,740$994,528
77$1,423,114$417,239$247,045$1,028,456
78$1,514,220$383,632$201,270$1,065,012
79$1,612,916$346,676$152,258$1,104,495
80$1,719,923$306,152$99,848$1,147,236
81$1,836,033$261,832$43,871$1,193,604
82$1,962,118$213,471$0$1,244,011
83$2,099,136$160,812$0$1,301,114
84$2,248,141$103,586$0$1,369,857
85$2,410,294$41,504$0$1,444,740
86$2,586,871$0$0$1,526,417
87$2,779,277$0$0$1,624,959
88$2,989,058$0$0$1,748,883
89$3,217,914$0$0$1,884,131
90$3,467,719$0$0$2,031,815
91$3,740,533$0$0$2,193,162
92$4,038,627$0$0$2,369,519
93$4,364,498$0$0$2,562,374
94$4,720,896$0$0$2,773,362
95$5,110,851$0$0$3,004,284
96$5,537,696$0$0$3,257,123
97$6,005,104$0$0$3,534,063
98$6,517,118$0$0$3,837,509
99$7,078,192$0$0$4,170,111
100$7,693,229$0$0$4,534,785