Can I retire at age 63 with 585,000?

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 $585,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.6%
1 years$48,309$47,878$47,459$47,049$46,649$44,851
2 years$23,915$23,470$23,038$22,620$22,214$20,424
3 years$15,785$15,338$14,907$14,493$14,093$12,368
4 years$11,721$11,275$10,849$10,441$10,051$8,403
5 years$9,283$8,840$8,419$8,020$7,641$6,075
6 years$7,658$7,218$6,804$6,413$6,046$4,562
7 years$6,498$6,062$5,654$5,273$4,917$3,516
8 years$5,628$5,196$4,795$4,423$4,079$2,759
9 years$4,952$4,524$4,130$3,768$3,435$2,194
10 years$4,412$3,988$3,601$3,248$2,927$1,762
11 years$3,970$3,550$3,170$2,827$2,517$1,427
12 years$3,602$3,186$2,813$2,479$2,181$1,162
13 years$3,291$2,880$2,513$2,189$1,902$951
14 years$3,024$2,617$2,258$1,943$1,668$781
15 years$2,793$2,391$2,039$1,733$1,468$644
16 years$2,592$2,194$1,849$1,552$1,298$532
17 years$2,414$2,020$1,682$1,394$1,151$440
18 years$2,256$1,867$1,536$1,256$1,023$365
19 years$2,115$1,730$1,406$1,135$912$303
20 years$1,988$1,608$1,290$1,028$814$252
21 years$1,874$1,498$1,187$933$729$210
22 years$1,770$1,398$1,094$848$653$175
23 years$1,675$1,308$1,010$773$586$146
24 years$1,588$1,225$934$705$527$121
25 years$1,508$1,150$865$644$474$101
26 years$1,435$1,080$802$588$427$85
27 years$1,367$1,017$745$539$385$71
28 years$1,304$958$693$493$348$59
29 years$1,245$904$644$453$314$49
30 years$1,191$854$600$415$284$41
31 years$1,140$807$560$381$256$34
32 years$1,092$764$522$351$232$29
33 years$1,048$723$488$322$210$24
34 years$1,006$685$456$297$190$20
35 years$966$650$426$273$172$17
36 years$929$617$398$251$156$14
37 years$894$586$373$232$141$12
38 years$861$557$349$214$128$10
39 years$830$530$327$197$116$8
40 years$800$504$307$182$105$7
41 years$772$480$288$168$96$6
42 years$745$457$270$155$87$5
43 years$719$435$253$143$79$4
44 years$695$415$238$132$71$3
45 years$672$396$223$122$65$3
46 years$650$377$210$112$59$2
47 years$629$360$197$104$53$2
48 years$609$344$185$96$49$2
49 years$590$328$174$89$44$1
50 years$571$314$163$82$40$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $585,000, adding $6,997 every year, while hoping to spend $36,769 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: 65/17/18 Blend
62$585,000$585,000$585,000$585,000
63$651,887$620,882$611,815$690,903
64$679,258$612,184$593,189$709,230
65$708,188$601,826$572,706$724,394
66$738,798$589,691$550,267$740,084
67$771,219$575,649$525,764$756,350
68$805,594$559,566$499,088$773,252
69$842,080$541,301$470,123$790,854
70$880,849$520,701$438,749$809,230
71$922,088$497,608$404,839$828,463
72$966,002$471,852$368,263$848,645
73$1,012,816$443,255$328,881$869,879
74$1,062,776$411,627$286,551$892,282
75$1,116,151$376,769$241,123$915,983
76$1,173,237$338,469$192,440$941,127
77$1,234,359$296,505$140,337$967,876
78$1,299,870$250,640$84,645$996,411
79$1,370,161$200,626$25,185$1,026,934
80$1,445,659$146,198$0$1,059,668
81$1,526,834$87,080$0$1,102,216
82$1,614,201$22,977$0$1,153,145
83$1,708,325$0$0$1,207,964
84$1,809,829$0$0$1,275,743
85$1,919,395$0$0$1,353,575
86$2,037,773$0$0$1,437,698
87$2,165,787$0$0$1,528,703
88$2,304,344$0$0$1,627,238
89$2,454,440$0$0$1,734,015
90$2,617,169$0$0$1,849,819
91$2,793,737$0$0$1,975,512
92$2,985,467$0$0$2,112,041
93$3,193,817$0$0$2,260,449
94$3,420,390$0$0$2,421,883
95$3,666,948$0$0$2,597,607
96$3,935,433$0$0$2,789,007
97$4,227,977$0$0$2,997,614
98$4,546,933$0$0$3,225,109
99$4,894,884$0$0$3,473,343
100$5,274,677$0$0$3,744,353