Can I retire at age 67 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%12.2%
1 years$48,474$48,042$47,621$47,210$46,808$46,377
2 years$23,997$23,550$23,117$22,697$22,290$21,855
3 years$15,839$15,390$14,958$14,542$14,141$13,718
4 years$11,761$11,313$10,886$10,477$10,086$9,675
5 years$9,315$8,870$8,448$8,047$7,667$7,271
6 years$7,684$7,243$6,827$6,435$6,067$5,686
7 years$6,520$6,083$5,673$5,291$4,934$4,569
8 years$5,648$5,214$4,811$4,438$4,093$3,743
9 years$4,969$4,540$4,144$3,781$3,447$3,112
10 years$4,427$4,001$3,613$3,259$2,937$2,617
11 years$3,983$3,562$3,181$2,836$2,526$2,221
12 years$3,614$3,197$2,823$2,488$2,189$1,898
13 years$3,302$2,889$2,522$2,196$1,909$1,632
14 years$3,035$2,626$2,266$1,950$1,673$1,411
15 years$2,803$2,399$2,046$1,739$1,473$1,224
16 years$2,601$2,201$1,855$1,557$1,302$1,066
17 years$2,422$2,027$1,688$1,399$1,154$931
18 years$2,264$1,873$1,541$1,261$1,027$815
19 years$2,122$1,736$1,411$1,139$915$715
20 years$1,995$1,613$1,295$1,032$817$629
21 years$1,880$1,503$1,191$936$731$554
22 years$1,776$1,403$1,097$851$656$488
23 years$1,680$1,312$1,013$775$588$431
24 years$1,593$1,229$937$707$529$381
25 years$1,513$1,154$868$646$476$337
26 years$1,440$1,084$805$590$429$299
27 years$1,371$1,020$748$540$387$265
28 years$1,308$961$695$495$349$235
29 years$1,250$907$647$454$315$208
30 years$1,195$857$602$417$285$185
31 years$1,144$810$562$383$257$164
32 years$1,096$766$524$352$233$146
33 years$1,051$726$489$323$211$130
34 years$1,009$688$457$298$191$115
35 years$970$652$427$274$173$102
36 years$932$619$400$252$156$91
37 years$897$588$374$232$142$81
38 years$864$559$350$214$129$72
39 years$832$531$328$198$117$64
40 years$803$506$308$182$106$57
41 years$774$481$289$168$96$51
42 years$747$458$271$155$87$45
43 years$722$437$254$143$79$40
44 years$697$416$238$132$72$36
45 years$674$397$224$122$65$32
46 years$652$379$210$113$59$29
47 years$631$361$198$104$54$25
48 years$611$345$186$96$49$23
49 years$592$329$174$89$44$20
50 years$573$315$164$82$40$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 67 starting with $587,000, adding $2,909 every year, while hoping to spend $40,767 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: 64/17/19 Blend
66$587,000$587,000$587,000$587,000
67$649,875$618,764$609,665$688,165
68$672,786$605,707$586,713$701,197
69$696,668$590,645$561,626$710,538
70$721,577$573,435$534,289$719,781
71$747,572$553,928$504,582$728,919
72$774,720$531,966$472,381$737,946
73$803,090$507,380$437,554$746,855
74$832,758$479,995$399,965$755,642
75$863,806$449,622$359,471$764,304
76$896,324$416,063$315,923$772,838
77$930,407$379,108$269,164$781,244
78$966,161$338,536$219,033$789,526
79$1,003,698$294,113$165,360$797,688
80$1,043,142$245,592$107,967$805,738
81$1,084,627$192,711$46,668$813,688
82$1,128,299$135,193$0$821,554
83$1,174,316$72,749$0$833,156
84$1,222,852$5,068$0$855,064
85$1,274,093$0$0$877,882
86$1,328,247$0$0$914,445
87$1,385,536$0$0$954,146
88$1,446,205$0$0$996,209
89$1,510,522$0$0$1,040,822
90$1,578,779$0$0$1,088,190
91$1,651,295$0$0$1,138,537
92$1,728,419$0$0$1,192,109
93$1,810,534$0$0$1,249,175
94$1,898,057$0$0$1,310,029
95$1,991,448$0$0$1,374,994
96$2,091,207$0$0$1,444,422
97$2,197,887$0$0$1,518,701
98$2,312,088$0$0$1,598,256
99$2,434,474$0$0$1,683,551
100$2,565,770$0$0$1,775,098