Can I retire at age 75 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%11.8%
1 years$48,556$48,124$47,702$47,290$46,888$46,534
2 years$24,038$23,590$23,156$22,736$22,328$21,971
3 years$15,866$15,416$14,984$14,567$14,166$13,817
4 years$11,781$11,333$10,904$10,495$10,103$9,765
5 years$9,331$8,885$8,462$8,061$7,680$7,354
6 years$7,697$7,255$6,839$6,446$6,077$5,763
7 years$6,531$6,093$5,683$5,300$4,942$4,641
8 years$5,657$5,223$4,820$4,446$4,100$3,811
9 years$4,978$4,547$4,151$3,787$3,453$3,176
10 years$4,434$4,008$3,619$3,264$2,942$2,677
11 years$3,990$3,568$3,186$2,841$2,530$2,278
12 years$3,620$3,203$2,828$2,492$2,193$1,952
13 years$3,308$2,894$2,526$2,200$1,912$1,683
14 years$3,040$2,631$2,270$1,953$1,676$1,458
15 years$2,808$2,403$2,049$1,742$1,476$1,268
16 years$2,605$2,205$1,858$1,559$1,304$1,108
17 years$2,426$2,031$1,691$1,401$1,156$970
18 years$2,268$1,877$1,543$1,263$1,028$852
19 years$2,126$1,739$1,413$1,141$917$750
20 years$1,998$1,616$1,297$1,033$819$661
21 years$1,883$1,505$1,193$938$733$584
22 years$1,779$1,405$1,099$853$657$516
23 years$1,683$1,314$1,015$777$589$457
24 years$1,596$1,231$939$708$530$406
25 years$1,516$1,156$869$647$477$360
26 years$1,442$1,086$806$591$429$320
27 years$1,374$1,022$749$541$387$284
28 years$1,311$963$696$496$349$253
29 years$1,252$909$648$455$315$225
30 years$1,197$858$603$417$285$200
31 years$1,146$811$563$383$258$179
32 years$1,098$768$525$352$233$159
33 years$1,053$727$490$324$211$142
34 years$1,011$689$458$298$191$127
35 years$971$653$428$274$173$113
36 years$934$620$400$253$157$101
37 years$899$589$375$233$142$90
38 years$865$560$351$215$129$80
39 years$834$532$329$198$117$72
40 years$804$506$308$183$106$64
41 years$776$482$289$168$96$57
42 years$749$459$271$155$87$51
43 years$723$437$254$143$79$46
44 years$699$417$239$132$72$41
45 years$675$398$224$122$65$37
46 years$653$379$211$113$59$33
47 years$632$362$198$104$54$29
48 years$612$346$186$96$49$26
49 years$593$330$175$89$44$23
50 years$574$315$164$82$40$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 75 starting with $588,000, adding $4,238 every year, while hoping to spend $58,541 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: 39/49/12 Blend
74$588,000$588,000$588,000$588,000
75$652,347$621,183$612,069$675,273
76$656,600$589,334$570,287$660,068
77$659,324$553,962$525,142$637,591
78$660,302$514,834$476,461$611,999
79$659,292$471,700$424,062$583,037
80$656,026$424,299$367,754$550,431
81$650,205$372,354$307,339$513,887
82$641,499$315,573$242,608$473,087
83$629,543$253,647$173,346$427,688
84$613,929$186,248$99,325$377,319
85$594,207$113,032$20,311$321,581
86$569,880$33,635$0$260,041
87$540,397$0$0$200,430
88$505,146$0$0$165,570
89$463,454$0$0$146,028
90$414,572$0$0$123,346
91$357,675$0$0$97,165
92$291,851$0$0$67,094
93$216,090$0$0$32,696
94$129,277$0$0$0
95$30,180$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0