Can I retire at age 63 with 488,000?

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 $488,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$40,299$39,940$39,589$39,248$38,914$38,238
2 years$19,950$19,578$19,218$18,869$18,530$17,851
3 years$13,168$12,795$12,435$12,090$11,756$11,096
4 years$9,777$9,405$9,050$8,710$8,385$7,747
5 years$7,744$7,374$7,023$6,690$6,374$5,762
6 years$6,388$6,021$5,676$5,350$5,044$4,457
7 years$5,421$5,057$4,716$4,399$4,102$3,542
8 years$4,695$4,335$4,000$3,690$3,403$2,869
9 years$4,131$3,774$3,445$3,143$2,866$2,357
10 years$3,680$3,327$3,004$2,709$2,442$1,958
11 years$3,312$2,961$2,644$2,358$2,100$1,641
12 years$3,005$2,658$2,347$2,068$1,820$1,385
13 years$2,745$2,402$2,097$1,826$1,587$1,176
14 years$2,523$2,183$1,884$1,621$1,391$1,002
15 years$2,330$1,995$1,701$1,445$1,225$858
16 years$2,162$1,830$1,542$1,294$1,082$737
17 years$2,014$1,685$1,403$1,163$960$635
18 years$1,882$1,557$1,281$1,048$853$548
19 years$1,764$1,443$1,173$947$761$474
20 years$1,659$1,341$1,076$858$679$410
21 years$1,563$1,249$990$778$608$356
22 years$1,476$1,166$912$708$545$309
23 years$1,397$1,091$842$645$489$269
24 years$1,325$1,022$779$588$440$234
25 years$1,258$959$722$537$396$204
26 years$1,197$901$669$491$356$178
27 years$1,140$848$621$449$321$155
28 years$1,088$799$578$412$290$135
29 years$1,039$754$538$378$262$118
30 years$993$712$501$346$237$103
31 years$951$673$467$318$214$90
32 years$911$637$436$292$193$79
33 years$874$603$407$269$175$69
34 years$839$572$380$247$159$60
35 years$806$542$355$228$144$53
36 years$775$515$332$210$130$46
37 years$746$489$311$193$118$40
38 years$718$465$291$178$107$35
39 years$692$442$273$164$97$31
40 years$667$420$256$152$88$27
41 years$644$400$240$140$80$24
42 years$621$381$225$129$72$21
43 years$600$363$211$119$66$18
44 years$580$346$198$110$60$16
45 years$561$330$186$102$54$14
46 years$542$315$175$94$49$12
47 years$525$300$164$87$45$11
48 years$508$287$154$80$41$9
49 years$492$274$145$74$37$8
50 years$476$262$136$68$33$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $488,000, adding $2,767 every year, while hoping to spend $54,116 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: 68/19/13 Blend
62$488,000$488,000$488,000$488,000
63$540,630$514,766$507,202$575,633
64$538,195$482,411$466,614$566,924
65$533,699$446,656$422,853$550,699
66$526,872$407,279$375,755$531,563
67$517,420$364,042$325,150$509,223
68$505,013$316,696$270,858$483,360
69$489,287$264,977$212,695$453,623
70$469,839$208,605$150,465$419,629
71$446,222$147,287$83,965$380,958
72$417,943$80,711$12,984$337,148
73$384,456$8,547$0$287,695
74$345,154$0$0$240,753
75$299,371$0$0$204,038
76$246,367$0$0$163,679
77$185,325$0$0$117,277
78$115,342$0$0$64,154
79$35,421$0$0$3,563
80$0$0$0$0
81$0$0$0$0
82$0$0$0$0
83$0$0$0$0
84$0$0$0$0
85$0$0$0$0
86$0$0$0$0
87$0$0$0$0
88$0$0$0$0
89$0$0$0$0
90$0$0$0$0
91$0$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
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