Can I retire at age 63 with 587,000?

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 $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%19.1%
1 years$48,474$48,042$47,621$47,210$46,808$45,094
2 years$23,997$23,550$23,117$22,697$22,290$20,581
3 years$15,839$15,390$14,958$14,542$14,141$12,493
4 years$11,761$11,313$10,886$10,477$10,086$8,510
5 years$9,315$8,870$8,448$8,047$7,667$6,168
6 years$7,684$7,243$6,827$6,435$6,067$4,645
7 years$6,520$6,083$5,673$5,291$4,934$3,590
8 years$5,648$5,214$4,811$4,438$4,093$2,825
9 years$4,969$4,540$4,144$3,781$3,447$2,254
10 years$4,427$4,001$3,613$3,259$2,937$1,816
11 years$3,983$3,562$3,181$2,836$2,526$1,475
12 years$3,614$3,197$2,823$2,488$2,189$1,205
13 years$3,302$2,889$2,522$2,196$1,909$990
14 years$3,035$2,626$2,266$1,950$1,673$816
15 years$2,803$2,399$2,046$1,739$1,473$675
16 years$2,601$2,201$1,855$1,557$1,302$560
17 years$2,422$2,027$1,688$1,399$1,154$465
18 years$2,264$1,873$1,541$1,261$1,027$387
19 years$2,122$1,736$1,411$1,139$915$323
20 years$1,995$1,613$1,295$1,032$817$269
21 years$1,880$1,503$1,191$936$731$225
22 years$1,776$1,403$1,097$851$656$188
23 years$1,680$1,312$1,013$775$588$157
24 years$1,593$1,229$937$707$529$132
25 years$1,513$1,154$868$646$476$110
26 years$1,440$1,084$805$590$429$92
27 years$1,371$1,020$748$540$387$78
28 years$1,308$961$695$495$349$65
29 years$1,250$907$647$454$315$55
30 years$1,195$857$602$417$285$46
31 years$1,144$810$562$383$257$38
32 years$1,096$766$524$352$233$32
33 years$1,051$726$489$323$211$27
34 years$1,009$688$457$298$191$23
35 years$970$652$427$274$173$19
36 years$932$619$400$252$156$16
37 years$897$588$374$232$142$13
38 years$864$559$350$214$129$11
39 years$832$531$328$198$117$9
40 years$803$506$308$182$106$8
41 years$774$481$289$168$96$7
42 years$747$458$271$155$87$6
43 years$722$437$254$143$79$5
44 years$697$416$238$132$72$4
45 years$674$397$224$122$65$3
46 years$652$379$210$113$59$3
47 years$631$361$198$104$54$2
48 years$611$345$186$96$49$2
49 years$592$329$174$89$44$2
50 years$573$315$164$82$40$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $587,000, adding $2,609 every year, while hoping to spend $42,233 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: 82/5/13 Blend
62$587,000$587,000$587,000$587,000
63$649,565$618,454$609,356$701,038
64$670,885$603,823$584,834$720,549
65$692,964$587,059$558,074$736,154
66$715,836$568,014$528,959$752,043
67$739,534$546,529$497,362$768,221
68$764,096$522,439$463,153$784,697
69$789,560$495,565$426,195$801,478
70$815,969$465,722$386,347$818,573
71$843,367$432,711$343,458$835,991
72$871,801$396,324$297,375$853,744
73$901,321$356,341$247,933$871,844
74$931,981$312,526$194,964$890,304
75$963,838$264,635$138,290$909,139
76$996,954$212,406$77,727$928,367
77$1,031,393$155,564$13,081$948,007
78$1,067,227$93,819$0$968,080
79$1,104,531$26,863$0$996,366
80$1,143,386$0$0$1,027,576
81$1,183,880$0$0$1,062,465
82$1,226,105$0$0$1,100,391
83$1,270,164$0$0$1,139,966
84$1,316,165$0$0$1,181,288
85$1,364,227$0$0$1,224,465
86$1,414,475$0$0$1,269,610
87$1,467,049$0$0$1,316,848
88$1,522,097$0$0$1,366,312
89$1,579,779$0$0$1,418,150
90$1,640,272$0$0$1,472,517
91$1,703,765$0$0$1,529,587
92$1,770,464$0$0$1,589,543
93$1,840,593$0$0$1,652,590
94$1,914,396$0$0$1,718,946
95$1,992,138$0$0$1,788,850
96$2,074,107$0$0$1,862,564
97$2,160,618$0$0$1,940,371
98$2,252,015$0$0$2,022,581
99$2,348,671$0$0$2,109,532
100$2,450,994$0$0$2,201,592