Can I retire at age 66 with 587,000?

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 $587,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14%
1 years$48,474$48,042$47,621$47,210$46,808$46,033
2 years$23,997$23,550$23,117$22,697$22,290$21,511
3 years$15,839$15,390$14,958$14,542$14,141$13,383
4 years$11,761$11,313$10,886$10,477$10,086$9,354
5 years$9,315$8,870$8,448$8,047$7,667$6,964
6 years$7,684$7,243$6,827$6,435$6,067$5,393
7 years$6,520$6,083$5,673$5,291$4,934$4,290
8 years$5,648$5,214$4,811$4,438$4,093$3,479
9 years$4,969$4,540$4,144$3,781$3,447$2,862
10 years$4,427$4,001$3,613$3,259$2,937$2,381
11 years$3,983$3,562$3,181$2,836$2,526$1,998
12 years$3,614$3,197$2,823$2,488$2,189$1,688
13 years$3,302$2,889$2,522$2,196$1,909$1,435
14 years$3,035$2,626$2,266$1,950$1,673$1,225
15 years$2,803$2,399$2,046$1,739$1,473$1,050
16 years$2,601$2,201$1,855$1,557$1,302$903
17 years$2,422$2,027$1,688$1,399$1,154$779
18 years$2,264$1,873$1,541$1,261$1,027$673
19 years$2,122$1,736$1,411$1,139$915$583
20 years$1,995$1,613$1,295$1,032$817$506
21 years$1,880$1,503$1,191$936$731$439
22 years$1,776$1,403$1,097$851$656$382
23 years$1,680$1,312$1,013$775$588$333
24 years$1,593$1,229$937$707$529$290
25 years$1,513$1,154$868$646$476$253
26 years$1,440$1,084$805$590$429$221
27 years$1,371$1,020$748$540$387$193
28 years$1,308$961$695$495$349$169
29 years$1,250$907$647$454$315$147
30 years$1,195$857$602$417$285$129
31 years$1,144$810$562$383$257$113
32 years$1,096$766$524$352$233$99
33 years$1,051$726$489$323$211$87
34 years$1,009$688$457$298$191$76
35 years$970$652$427$274$173$66
36 years$932$619$400$252$156$58
37 years$897$588$374$232$142$51
38 years$864$559$350$214$129$45
39 years$832$531$328$198$117$39
40 years$803$506$308$182$106$34
41 years$774$481$289$168$96$30
42 years$747$458$271$155$87$26
43 years$722$437$254$143$79$23
44 years$697$416$238$132$72$20
45 years$674$397$224$122$65$18
46 years$652$379$210$113$59$16
47 years$631$361$198$104$54$14
48 years$611$345$186$96$49$12
49 years$592$329$174$89$44$11
50 years$573$315$164$82$40$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $587,000, adding $5,472 every year, while hoping to spend $44,811 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: 60/27/13 Blend
65$587,000$587,000$587,000$587,000
66$652,518$621,407$612,309$689,268
67$671,397$604,178$585,143$697,422
68$690,699$584,602$555,565$700,784
69$710,420$562,518$523,446$703,376
70$730,556$537,754$488,654$705,127
71$751,096$510,128$451,048$705,961
72$772,032$479,448$410,482$705,798
73$793,349$445,511$366,803$704,551
74$815,032$408,102$319,852$702,127
75$837,060$366,994$269,462$698,426
76$859,411$321,947$215,459$693,341
77$882,055$272,707$157,662$686,759
78$904,962$219,006$95,880$678,555
79$928,092$160,562$29,917$668,600
80$951,402$97,074$0$656,751
81$974,843$28,229$0$648,471
82$998,356$0$0$642,778
83$1,021,876$0$0$649,132
84$1,045,328$0$0$663,803
85$1,068,628$0$0$678,346
86$1,091,679$0$0$692,699
87$1,114,374$0$0$706,788
88$1,136,592$0$0$720,532
89$1,158,195$0$0$733,840
90$1,179,031$0$0$746,610
91$1,198,926$0$0$758,726
92$1,217,690$0$0$770,061
93$1,235,106$0$0$780,472
94$1,250,935$0$0$789,798
95$1,264,908$0$0$797,862
96$1,276,728$0$0$804,465
97$1,286,061$0$0$809,385
98$1,292,539$0$0$812,378
99$1,295,749$0$0$813,170
100$1,295,235$0$0$811,457