Can I retire at age 63 with 593,000?

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 $593,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.3%
1 years$48,969$48,533$48,108$47,692$47,287$45,518
2 years$24,242$23,791$23,353$22,929$22,517$20,756
3 years$16,001$15,548$15,111$14,691$14,286$12,587
4 years$11,881$11,429$10,997$10,584$10,189$8,565
5 years$9,410$8,961$8,534$8,129$7,745$6,202
6 years$7,763$7,317$6,897$6,501$6,129$4,665
7 years$6,587$6,145$5,731$5,345$4,984$3,601
8 years$5,705$5,267$4,861$4,484$4,135$2,831
9 years$5,020$4,586$4,186$3,819$3,482$2,255
10 years$4,472$4,042$3,650$3,292$2,967$1,815
11 years$4,024$3,599$3,213$2,865$2,552$1,472
12 years$3,651$3,230$2,852$2,513$2,211$1,202
13 years$3,336$2,919$2,548$2,219$1,928$985
14 years$3,066$2,653$2,289$1,970$1,690$811
15 years$2,832$2,424$2,067$1,756$1,488$670
16 years$2,627$2,224$1,874$1,573$1,315$555
17 years$2,447$2,048$1,705$1,413$1,166$460
18 years$2,287$1,892$1,557$1,273$1,037$383
19 years$2,144$1,754$1,425$1,151$924$318
20 years$2,015$1,630$1,308$1,042$826$265
21 years$1,899$1,518$1,203$946$739$221
22 years$1,794$1,417$1,109$860$662$185
23 years$1,698$1,325$1,024$783$594$154
24 years$1,610$1,242$947$714$534$129
25 years$1,529$1,165$877$652$481$108
26 years$1,454$1,095$813$596$433$90
27 years$1,385$1,031$755$546$390$76
28 years$1,322$971$702$500$352$63
29 years$1,262$916$653$459$318$53
30 years$1,207$865$609$421$287$44
31 years$1,155$818$567$387$260$37
32 years$1,107$774$529$355$235$31
33 years$1,062$733$494$327$213$26
34 years$1,019$695$462$301$193$22
35 years$979$659$432$277$174$18
36 years$942$625$404$255$158$15
37 years$906$594$378$235$143$13
38 years$873$565$354$216$130$11
39 years$841$537$332$200$118$9
40 years$811$511$311$184$107$8
41 years$782$486$291$170$97$6
42 years$755$463$273$157$88$5
43 years$729$441$257$145$80$4
44 years$705$421$241$134$72$4
45 years$681$401$226$123$66$3
46 years$659$383$212$114$60$3
47 years$637$365$200$105$54$2
48 years$617$348$188$97$49$2
49 years$598$333$176$90$45$2
50 years$579$318$166$83$41$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $593,000, adding $5,766 every year, while hoping to spend $30,660 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: 57/22/21 Blend
62$593,000$593,000$593,000$593,000
63$659,434$628,005$618,813$693,000
64$694,074$626,155$606,921$714,681
65$731,220$623,187$593,604$734,516
66$771,095$619,013$578,780$755,463
67$813,943$613,542$562,366$777,636
68$860,035$606,675$544,275$801,163
69$909,664$598,308$524,414$826,184
70$963,156$588,331$502,688$852,857
71$1,020,866$576,628$478,996$881,359
72$1,083,186$563,074$453,234$911,882
73$1,150,546$547,539$425,292$944,644
74$1,223,418$529,885$395,055$979,884
75$1,302,321$509,964$362,404$1,017,869
76$1,387,827$487,622$327,214$1,058,895
77$1,480,564$462,694$289,354$1,103,290
78$1,581,223$435,006$248,689$1,151,419
79$1,690,562$404,376$205,074$1,203,685
80$1,809,417$370,608$158,362$1,260,536
81$1,938,708$333,498$108,397$1,322,469
82$2,079,445$292,829$55,018$1,390,033
83$2,232,742$248,371$0$1,463,838
84$2,399,823$199,882$0$1,544,996
85$2,582,035$147,107$0$1,647,001
86$2,780,862$89,774$0$1,758,383
87$2,997,936$27,600$0$1,880,101
88$3,235,054$0$0$2,013,213
89$3,494,196$0$0$2,168,504
90$3,777,539$0$0$2,345,653
91$4,087,481$0$0$2,539,484
92$4,426,663$0$0$2,751,656
93$4,797,993$0$0$2,983,992
94$5,204,673$0$0$3,238,505
95$5,650,228$0$0$3,517,407
96$6,138,543$0$0$3,823,137
97$6,673,893$0$0$4,158,381
98$7,260,990$0$0$4,526,097
99$7,905,020$0$0$4,929,541
100$8,611,699$0$0$5,372,303