Can I retire at age 67 with 588,000?

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 $588,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$48,556$48,124$47,702$47,290$46,888$45,717
2 years$24,038$23,590$23,156$22,736$22,328$21,156
3 years$15,866$15,416$14,984$14,567$14,166$13,029
4 years$11,781$11,333$10,904$10,495$10,103$9,010
5 years$9,331$8,885$8,462$8,061$7,680$6,635
6 years$7,697$7,255$6,839$6,446$6,077$5,080
7 years$6,531$6,093$5,683$5,300$4,942$3,993
8 years$5,657$5,223$4,820$4,446$4,100$3,199
9 years$4,978$4,547$4,151$3,787$3,453$2,599
10 years$4,434$4,008$3,619$3,264$2,942$2,134
11 years$3,990$3,568$3,186$2,841$2,530$1,767
12 years$3,620$3,203$2,828$2,492$2,193$1,473
13 years$3,308$2,894$2,526$2,200$1,912$1,234
14 years$3,040$2,631$2,270$1,953$1,676$1,039
15 years$2,808$2,403$2,049$1,742$1,476$878
16 years$2,605$2,205$1,858$1,559$1,304$744
17 years$2,426$2,031$1,691$1,401$1,156$632
18 years$2,268$1,877$1,543$1,263$1,028$538
19 years$2,126$1,739$1,413$1,141$917$458
20 years$1,998$1,616$1,297$1,033$819$392
21 years$1,883$1,505$1,193$938$733$335
22 years$1,779$1,405$1,099$853$657$287
23 years$1,683$1,314$1,015$777$589$245
24 years$1,596$1,231$939$708$530$210
25 years$1,516$1,156$869$647$477$181
26 years$1,442$1,086$806$591$429$155
27 years$1,374$1,022$749$541$387$133
28 years$1,311$963$696$496$349$114
29 years$1,252$909$648$455$315$98
30 years$1,197$858$603$417$285$85
31 years$1,146$811$563$383$258$73
32 years$1,098$768$525$352$233$63
33 years$1,053$727$490$324$211$54
34 years$1,011$689$458$298$191$46
35 years$971$653$428$274$173$40
36 years$934$620$400$253$157$34
37 years$899$589$375$233$142$30
38 years$865$560$351$215$129$25
39 years$834$532$329$198$117$22
40 years$804$506$308$183$106$19
41 years$776$482$289$168$96$16
42 years$749$459$271$155$87$14
43 years$723$437$254$143$79$12
44 years$699$417$239$132$72$10
45 years$675$398$224$122$65$9
46 years$653$379$211$113$59$8
47 years$632$362$198$104$54$7
48 years$612$346$186$96$49$6
49 years$593$330$175$89$44$5
50 years$574$315$164$82$40$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 67 starting with $588,000, adding $6,120 every year, while hoping to spend $24,797 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: 44/50/6 Blend
66$588,000$588,000$588,000$588,000
67$654,289$623,125$614,011$681,705
68$694,642$627,274$608,196$705,421
69$738,281$630,796$601,356$728,063
70$785,514$633,632$593,429$752,023
71$836,679$635,724$584,353$777,429
72$892,152$637,006$574,060$804,426
73$952,342$637,410$562,481$833,172
74$1,017,701$636,863$549,545$863,844
75$1,088,726$635,288$535,173$896,636
76$1,165,962$632,604$519,288$931,767
77$1,250,012$628,722$501,806$969,478
78$1,341,535$623,552$482,639$1,010,034
79$1,441,261$616,996$461,696$1,053,732
80$1,549,990$608,949$438,883$1,100,901
81$1,668,604$599,302$414,101$1,151,904
82$1,798,072$587,938$387,244$1,207,144
83$1,939,463$574,735$358,204$1,267,067
84$2,093,953$559,562$326,868$1,332,169
85$2,262,835$542,279$293,118$1,402,996
86$2,447,536$522,742$256,828$1,480,157
87$2,649,623$500,795$217,871$1,564,322
88$2,870,825$476,275$176,110$1,656,235
89$3,113,045$449,008$131,405$1,756,719
90$3,378,376$418,810$83,608$1,866,684
91$3,669,128$385,489$32,566$1,987,139
92$3,987,839$348,839$0$2,119,197
93$4,337,310$308,643$0$2,265,496
94$4,720,623$264,673$0$2,428,311
95$5,141,172$216,688$0$2,607,076
96$5,602,696$164,431$0$2,803,469
97$6,109,316$107,632$0$3,019,347
98$6,665,568$46,008$0$3,256,760
99$7,276,451$0$0$3,517,973
100$7,947,470$0$0$3,816,903