Can I retire at age 67 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%13.5%
1 years$48,474$48,042$47,621$47,210$46,808$46,128
2 years$23,997$23,550$23,117$22,697$22,290$21,606
3 years$15,839$15,390$14,958$14,542$14,141$13,475
4 years$11,761$11,313$10,886$10,477$10,086$9,442
5 years$9,315$8,870$8,448$8,047$7,667$7,048
6 years$7,684$7,243$6,827$6,435$6,067$5,473
7 years$6,520$6,083$5,673$5,291$4,934$4,366
8 years$5,648$5,214$4,811$4,438$4,093$3,550
9 years$4,969$4,540$4,144$3,781$3,447$2,929
10 years$4,427$4,001$3,613$3,259$2,937$2,444
11 years$3,983$3,562$3,181$2,836$2,526$2,057
12 years$3,614$3,197$2,823$2,488$2,189$1,744
13 years$3,302$2,889$2,522$2,196$1,909$1,487
14 years$3,035$2,626$2,266$1,950$1,673$1,274
15 years$2,803$2,399$2,046$1,739$1,473$1,096
16 years$2,601$2,201$1,855$1,557$1,302$946
17 years$2,422$2,027$1,688$1,399$1,154$818
18 years$2,264$1,873$1,541$1,261$1,027$710
19 years$2,122$1,736$1,411$1,139$915$617
20 years$1,995$1,613$1,295$1,032$817$537
21 years$1,880$1,503$1,191$936$731$469
22 years$1,776$1,403$1,097$851$656$409
23 years$1,680$1,312$1,013$775$588$358
24 years$1,593$1,229$937$707$529$313
25 years$1,513$1,154$868$646$476$274
26 years$1,440$1,084$805$590$429$240
27 years$1,371$1,020$748$540$387$211
28 years$1,308$961$695$495$349$185
29 years$1,250$907$647$454$315$162
30 years$1,195$857$602$417$285$143
31 years$1,144$810$562$383$257$125
32 years$1,096$766$524$352$233$110
33 years$1,051$726$489$323$211$97
34 years$1,009$688$457$298$191$85
35 years$970$652$427$274$173$75
36 years$932$619$400$252$156$66
37 years$897$588$374$232$142$58
38 years$864$559$350$214$129$51
39 years$832$531$328$198$117$45
40 years$803$506$308$182$106$40
41 years$774$481$289$168$96$35
42 years$747$458$271$155$87$31
43 years$722$437$254$143$79$27
44 years$697$416$238$132$72$24
45 years$674$397$224$122$65$21
46 years$652$379$210$113$59$18
47 years$631$361$198$104$54$16
48 years$611$345$186$96$49$14
49 years$592$329$174$89$44$13
50 years$573$315$164$82$40$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 67 starting with $587,000, adding $3,254 every year, while hoping to spend $32,483 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: 76/13/11 Blend
66$587,000$587,000$587,000$587,000
67$650,231$619,120$610,021$698,067
68$681,992$614,895$595,895$725,806
69$715,905$609,374$580,207$751,768
70$752,154$602,460$562,871$779,312
71$790,942$594,049$543,795$808,584
72$832,492$584,031$522,886$839,744
73$877,047$572,289$500,043$872,969
74$924,875$558,701$475,165$908,457
75$976,271$543,136$448,141$946,421
76$1,031,556$525,455$418,859$987,102
77$1,091,085$505,513$387,201$1,030,763
78$1,155,247$483,154$353,044$1,077,693
79$1,224,469$458,215$316,257$1,128,215
80$1,299,220$430,523$276,707$1,182,682
81$1,380,016$399,894$234,253$1,241,486
82$1,467,424$366,136$188,746$1,305,057
83$1,562,067$329,042$140,035$1,373,874
84$1,664,630$288,397$87,959$1,448,461
85$1,775,867$243,973$32,349$1,529,400
86$1,896,604$195,527$0$1,617,332
87$2,027,755$142,804$0$1,716,133
88$2,170,320$85,536$0$1,827,673
89$2,325,403$23,437$0$1,949,037
90$2,494,216$0$0$2,081,198
91$2,678,094$0$0$2,231,497
92$2,878,505$0$0$2,398,985
93$3,097,067$0$0$2,581,662
94$3,335,559$0$0$2,781,019
95$3,595,938$0$0$2,998,696
96$3,880,360$0$0$3,236,497
97$4,191,199$0$0$3,496,409
98$4,531,068$0$0$3,780,621
99$4,902,842$0$0$4,091,541
100$5,309,691$0$0$4,431,822