Can I retire at age 63 with 582,000?

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 $582,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$48,061$47,633$47,215$46,808$46,409$45,584
2 years$23,793$23,349$22,920$22,504$22,100$21,271
3 years$15,704$15,259$14,831$14,418$14,021$13,215
4 years$11,661$11,217$10,793$10,388$10,000$9,223
5 years$9,235$8,794$8,376$7,979$7,602$6,855
6 years$7,619$7,181$6,769$6,381$6,015$5,300
7 years$6,465$6,031$5,625$5,246$4,892$4,209
8 years$5,600$5,169$4,770$4,401$4,058$3,407
9 years$4,927$4,501$4,109$3,748$3,418$2,798
10 years$4,389$3,967$3,582$3,231$2,912$2,323
11 years$3,950$3,532$3,154$2,812$2,504$1,946
12 years$3,583$3,170$2,799$2,467$2,170$1,641
13 years$3,274$2,865$2,501$2,178$1,893$1,392
14 years$3,009$2,604$2,247$1,933$1,659$1,186
15 years$2,779$2,379$2,028$1,724$1,461$1,015
16 years$2,578$2,183$1,839$1,544$1,291$871
17 years$2,402$2,010$1,674$1,387$1,145$749
18 years$2,245$1,857$1,528$1,250$1,018$646
19 years$2,104$1,721$1,399$1,129$907$558
20 years$1,978$1,600$1,284$1,023$810$483
21 years$1,864$1,490$1,181$928$725$419
22 years$1,761$1,391$1,088$844$650$364
23 years$1,666$1,301$1,005$769$583$316
24 years$1,580$1,219$929$701$524$275
25 years$1,500$1,144$861$640$472$239
26 years$1,427$1,075$798$585$425$208
27 years$1,360$1,012$741$536$383$181
28 years$1,297$953$689$491$346$158
29 years$1,239$899$641$450$312$138
30 years$1,185$849$597$413$282$120
31 years$1,134$803$557$379$255$105
32 years$1,087$760$519$349$231$92
33 years$1,042$719$485$321$209$80
34 years$1,001$682$453$295$189$70
35 years$961$647$424$272$171$61
36 years$924$614$396$250$155$53
37 years$889$583$371$230$141$47
38 years$856$554$347$212$127$41
39 years$825$527$325$196$116$36
40 years$796$501$305$181$105$31
41 years$768$477$286$167$95$27
42 years$741$454$268$154$86$24
43 years$716$433$252$142$78$21
44 years$691$413$236$131$71$18
45 years$669$394$222$121$65$16
46 years$647$375$208$112$59$14
47 years$626$358$196$103$53$12
48 years$606$342$184$95$48$11
49 years$587$327$173$88$44$9
50 years$568$312$163$82$40$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $582,000, adding $5,254 every year, while hoping to spend $24,216 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: 62/31/7 Blend
62$582,000$582,000$582,000$582,000
63$646,784$615,938$606,917$685,675
64$686,990$620,353$601,483$716,707
65$730,485$624,173$595,055$747,268
66$777,581$627,343$587,575$780,002
67$828,616$629,805$578,981$815,120
68$883,966$631,496$569,208$852,853
69$944,043$632,352$558,189$893,455
70$1,009,300$632,302$545,853$937,209
71$1,080,236$631,272$532,126$984,426
72$1,157,398$629,183$516,931$1,035,449
73$1,241,391$625,951$500,186$1,090,659
74$1,332,879$621,488$481,808$1,150,472
75$1,432,591$615,700$461,707$1,215,353
76$1,541,333$608,487$439,792$1,285,810
77$1,659,988$599,742$415,965$1,362,408
78$1,789,532$589,355$390,124$1,445,769
79$1,931,036$577,205$362,166$1,536,578
80$2,085,682$563,168$331,978$1,635,593
81$2,254,768$547,110$299,446$1,743,652
82$2,439,726$528,890$264,449$1,861,677
83$2,642,131$508,358$226,861$1,990,687
84$2,863,719$485,358$186,551$2,131,807
85$3,106,399$459,721$143,381$2,286,278
86$3,372,276$431,272$97,209$2,455,469
87$3,663,666$399,823$47,884$2,640,893
88$3,983,122$365,176$0$2,844,218
89$4,333,455$327,124$0$3,067,638
90$4,717,758$285,444$0$3,316,671
91$5,139,443$239,904$0$3,589,989
92$5,602,265$190,258$0$3,890,079
93$6,110,360$136,245$0$4,219,682
94$6,668,286$77,590$0$4,581,822
95$7,281,063$14,003$0$4,979,835
96$7,954,219$0$0$5,417,399
97$8,693,849$0$0$5,917,273
98$9,506,662$0$0$6,471,904
99$10,400,052$0$0$7,081,566
100$11,382,165$0$0$7,751,824