Can I retire at age 63 with 302,000?

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 $302,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$24,939$24,717$24,500$24,288$24,082$23,890
2 years$12,346$12,116$11,893$11,677$11,468$11,274
3 years$8,149$7,918$7,696$7,482$7,275$7,087
4 years$6,051$5,821$5,600$5,390$5,189$5,006
5 years$4,792$4,563$4,346$4,140$3,945$3,768
6 years$3,953$3,726$3,512$3,311$3,121$2,951
7 years$3,355$3,129$2,919$2,722$2,538$2,375
8 years$2,906$2,682$2,475$2,283$2,106$1,949
9 years$2,557$2,336$2,132$1,945$1,773$1,624
10 years$2,278$2,059$1,859$1,677$1,511$1,368
11 years$2,049$1,833$1,636$1,459$1,300$1,163
12 years$1,859$1,645$1,452$1,280$1,126$996
13 years$1,699$1,487$1,298$1,130$982$858
14 years$1,561$1,351$1,166$1,003$861$743
15 years$1,442$1,234$1,053$895$758$646
16 years$1,338$1,133$954$801$670$564
17 years$1,246$1,043$868$720$594$493
18 years$1,165$964$793$649$528$433
19 years$1,092$893$726$586$471$381
20 years$1,026$830$666$531$420$335
21 years$967$773$613$482$376$296
22 years$914$722$565$438$337$262
23 years$865$675$521$399$303$232
24 years$820$632$482$364$272$205
25 years$779$593$447$332$245$182
26 years$741$558$414$304$221$162
27 years$706$525$385$278$199$143
28 years$673$495$358$255$179$128
29 years$643$467$333$234$162$113
30 years$615$441$310$214$146$101
31 years$588$417$289$197$132$90
32 years$564$394$270$181$120$80
33 years$541$373$252$166$108$71
34 years$519$354$235$153$98$64
35 years$499$336$220$141$89$57
36 years$480$319$206$130$81$51
37 years$462$303$193$120$73$45
38 years$444$288$180$110$66$40
39 years$428$273$169$102$60$36
40 years$413$260$158$94$54$32
41 years$398$248$148$87$49$29
42 years$384$236$139$80$45$26
43 years$371$225$131$74$41$23
44 years$359$214$123$68$37$20
45 years$347$204$115$63$33$18
46 years$336$195$108$58$30$16
47 years$325$186$102$54$28$14
48 years$314$177$95$50$25$13
49 years$304$169$90$46$23$12
50 years$295$162$84$42$21$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $302,000, adding $5,197 every year, while hoping to spend $25,585 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: 83/9/8 Blend
62$302,000$302,000$302,000$302,000
63$338,165$322,159$317,478$365,478
64$345,435$310,722$300,891$372,666
65$352,590$297,868$282,891$376,587
66$359,590$283,499$263,404$380,103
67$366,391$267,514$242,351$383,158
68$372,946$249,804$219,652$385,691
69$379,197$230,256$195,222$387,633
70$385,086$208,749$168,972$388,910
71$390,542$185,155$140,810$389,439
72$395,489$159,340$110,639$389,130
73$399,842$131,160$78,358$387,883
74$403,505$100,466$43,862$385,587
75$406,372$67,099$7,042$382,123
76$408,326$30,891$0$377,356
77$409,235$0$0$373,894
78$408,954$0$0$370,467
79$407,320$0$0$368,860
80$404,153$0$0$365,847
81$399,256$0$0$361,247
82$392,406$0$0$354,858
83$383,359$0$0$346,455
84$371,843$0$0$335,790
85$357,558$0$0$322,588
86$340,171$0$0$306,545
87$319,314$0$0$287,323
88$294,581$0$0$264,551
89$265,519$0$0$237,815
90$231,630$0$0$206,660
91$192,365$0$0$170,581
92$147,113$0$0$129,023
93$95,203$0$0$81,368
94$35,889$0$0$26,936
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0