Can I retire at age 72 with 587,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%16.5%
1 years$48,474$48,042$47,621$47,210$46,808$45,566
2 years$23,997$23,550$23,117$22,697$22,290$21,047
3 years$15,839$15,390$14,958$14,542$14,141$12,937
4 years$11,761$11,313$10,886$10,477$10,086$8,929
5 years$9,315$8,870$8,448$8,047$7,667$6,561
6 years$7,684$7,243$6,827$6,435$6,067$5,012
7 years$6,520$6,083$5,673$5,291$4,934$3,931
8 years$5,648$5,214$4,811$4,438$4,093$3,142
9 years$4,969$4,540$4,144$3,781$3,447$2,546
10 years$4,427$4,001$3,613$3,259$2,937$2,085
11 years$3,983$3,562$3,181$2,836$2,526$1,722
12 years$3,614$3,197$2,823$2,488$2,189$1,432
13 years$3,302$2,889$2,522$2,196$1,909$1,197
14 years$3,035$2,626$2,266$1,950$1,673$1,005
15 years$2,803$2,399$2,046$1,739$1,473$846
16 years$2,601$2,201$1,855$1,557$1,302$715
17 years$2,422$2,027$1,688$1,399$1,154$606
18 years$2,264$1,873$1,541$1,261$1,027$514
19 years$2,122$1,736$1,411$1,139$915$437
20 years$1,995$1,613$1,295$1,032$817$372
21 years$1,880$1,503$1,191$936$731$317
22 years$1,776$1,403$1,097$851$656$271
23 years$1,680$1,312$1,013$775$588$231
24 years$1,593$1,229$937$707$529$197
25 years$1,513$1,154$868$646$476$169
26 years$1,440$1,084$805$590$429$145
27 years$1,371$1,020$748$540$387$124
28 years$1,308$961$695$495$349$106
29 years$1,250$907$647$454$315$91
30 years$1,195$857$602$417$285$78
31 years$1,144$810$562$383$257$67
32 years$1,096$766$524$352$233$57
33 years$1,051$726$489$323$211$49
34 years$1,009$688$457$298$191$42
35 years$970$652$427$274$173$36
36 years$932$619$400$252$156$31
37 years$897$588$374$232$142$27
38 years$864$559$350$214$129$23
39 years$832$531$328$198$117$20
40 years$803$506$308$182$106$17
41 years$774$481$289$168$96$14
42 years$747$458$271$155$87$12
43 years$722$437$254$143$79$11
44 years$697$416$238$132$72$9
45 years$674$397$224$122$65$8
46 years$652$379$210$113$59$7
47 years$631$361$198$104$54$6
48 years$611$345$186$96$49$5
49 years$592$329$174$89$44$4
50 years$573$315$164$82$40$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 72 starting with $587,000, adding $6,082 every year, while hoping to spend $49,394 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: 35/44/21 Blend
71$587,000$587,000$587,000$587,000
72$653,148$622,037$612,938$671,652
73$667,214$599,962$580,917$663,721
74$681,059$575,149$546,167$650,173
75$694,609$547,414$508,546$634,543
76$707,780$516,558$467,903$616,673
77$720,478$482,373$424,081$596,398
78$732,596$444,639$376,917$573,540
79$744,017$403,122$326,241$547,908
80$754,609$357,578$271,872$519,300
81$764,225$307,745$213,625$487,499
82$772,700$253,348$151,306$452,271
83$779,850$194,097$84,710$413,369
84$785,473$129,686$13,625$370,525
85$789,341$59,790$0$323,455
86$791,201$0$0$285,799
87$790,773$0$0$255,163
88$787,747$0$0$252,426
89$781,775$0$0$248,503
90$772,475$0$0$243,246
91$759,422$0$0$236,488
92$742,144$0$0$228,047
93$720,120$0$0$217,719
94$692,770$0$0$205,279
95$659,456$0$0$190,479
96$619,469$0$0$173,044
97$572,024$0$0$152,670
98$516,256$0$0$129,019
99$451,204$0$0$101,720
100$375,809$0$0$70,363