Can I retire at age 75 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%11.9%
1 years$48,474$48,042$47,621$47,210$46,808$46,435
2 years$23,997$23,550$23,117$22,697$22,290$21,914
3 years$15,839$15,390$14,958$14,542$14,141$13,774
4 years$11,761$11,313$10,886$10,477$10,086$9,730
5 years$9,315$8,870$8,448$8,047$7,667$7,324
6 years$7,684$7,243$6,827$6,435$6,067$5,737
7 years$6,520$6,083$5,673$5,291$4,934$4,617
8 years$5,648$5,214$4,811$4,438$4,093$3,789
9 years$4,969$4,540$4,144$3,781$3,447$3,156
10 years$4,427$4,001$3,613$3,259$2,937$2,659
11 years$3,983$3,562$3,181$2,836$2,526$2,260
12 years$3,614$3,197$2,823$2,488$2,189$1,936
13 years$3,302$2,889$2,522$2,196$1,909$1,668
14 years$3,035$2,626$2,266$1,950$1,673$1,444
15 years$2,803$2,399$2,046$1,739$1,473$1,256
16 years$2,601$2,201$1,855$1,557$1,302$1,096
17 years$2,422$2,027$1,688$1,399$1,154$959
18 years$2,264$1,873$1,541$1,261$1,027$841
19 years$2,122$1,736$1,411$1,139$915$740
20 years$1,995$1,613$1,295$1,032$817$652
21 years$1,880$1,503$1,191$936$731$575
22 years$1,776$1,403$1,097$851$656$509
23 years$1,680$1,312$1,013$775$588$450
24 years$1,593$1,229$937$707$529$399
25 years$1,513$1,154$868$646$476$354
26 years$1,440$1,084$805$590$429$314
27 years$1,371$1,020$748$540$387$279
28 years$1,308$961$695$495$349$248
29 years$1,250$907$647$454$315$220
30 years$1,195$857$602$417$285$196
31 years$1,144$810$562$383$257$175
32 years$1,096$766$524$352$233$156
33 years$1,051$726$489$323$211$139
34 years$1,009$688$457$298$191$124
35 years$970$652$427$274$173$110
36 years$932$619$400$252$156$98
37 years$897$588$374$232$142$88
38 years$864$559$350$214$129$78
39 years$832$531$328$198$117$70
40 years$803$506$308$182$106$62
41 years$774$481$289$168$96$56
42 years$747$458$271$155$87$50
43 years$722$437$254$143$79$44
44 years$697$416$238$132$72$40
45 years$674$397$224$122$65$35
46 years$652$379$210$113$59$32
47 years$631$361$198$104$54$28
48 years$611$345$186$96$49$25
49 years$592$329$174$89$44$22
50 years$573$315$164$82$40$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 75 starting with $587,000, adding $6,883 every year, while hoping to spend $52,537 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: 85/5/10 Blend
74$587,000$587,000$587,000$587,000
75$653,974$622,863$613,764$708,022
76$664,780$597,484$578,426$718,989
77$674,928$569,101$540,144$723,212
78$684,295$537,511$498,763$726,220
79$692,743$502,499$454,122$727,857
80$700,121$463,840$406,053$727,951
81$706,258$421,293$354,380$726,312
82$710,964$374,604$298,920$722,730
83$714,030$323,507$239,481$716,975
84$715,221$267,719$175,864$708,791
85$714,276$206,940$107,858$697,899
86$710,908$140,855$35,247$683,989
87$704,795$69,131$0$666,719
88$695,581$0$0$650,221
89$682,873$0$0$634,352
90$666,234$0$0$618,599
91$645,179$0$0$598,705
92$619,172$0$0$574,167
93$587,621$0$0$544,430
94$549,869$0$0$508,878
95$505,188$0$0$466,831
96$452,776$0$0$417,536
97$391,744$0$0$360,159
98$321,109$0$0$293,782
99$239,785$0$0$217,386
100$146,573$0$0$129,847