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%11.5%
1 years$40,299$39,940$39,589$39,248$38,914$38,669
2 years$19,950$19,578$19,218$18,869$18,530$18,283
3 years$13,168$12,795$12,435$12,090$11,756$11,515
4 years$9,777$9,405$9,050$8,710$8,385$8,150
5 years$7,744$7,374$7,023$6,690$6,374$6,148
6 years$6,388$6,021$5,676$5,350$5,044$4,825
7 years$5,421$5,057$4,716$4,399$4,102$3,892
8 years$4,695$4,335$4,000$3,690$3,403$3,202
9 years$4,131$3,774$3,445$3,143$2,866$2,673
10 years$3,680$3,327$3,004$2,709$2,442$2,257
11 years$3,312$2,961$2,644$2,358$2,100$1,924
12 years$3,005$2,658$2,347$2,068$1,820$1,652
13 years$2,745$2,402$2,097$1,826$1,587$1,427
14 years$2,523$2,183$1,884$1,621$1,391$1,239
15 years$2,330$1,995$1,701$1,445$1,225$1,080
16 years$2,162$1,830$1,542$1,294$1,082$945
17 years$2,014$1,685$1,403$1,163$960$829
18 years$1,882$1,557$1,281$1,048$853$730
19 years$1,764$1,443$1,173$947$761$643
20 years$1,659$1,341$1,076$858$679$569
21 years$1,563$1,249$990$778$608$503
22 years$1,476$1,166$912$708$545$446
23 years$1,397$1,091$842$645$489$396
24 years$1,325$1,022$779$588$440$352
25 years$1,258$959$722$537$396$313
26 years$1,197$901$669$491$356$279
27 years$1,140$848$621$449$321$248
28 years$1,088$799$578$412$290$222
29 years$1,039$754$538$378$262$198
30 years$993$712$501$346$237$176
31 years$951$673$467$318$214$158
32 years$911$637$436$292$193$141
33 years$874$603$407$269$175$126
34 years$839$572$380$247$159$113
35 years$806$542$355$228$144$101
36 years$775$515$332$210$130$90
37 years$746$489$311$193$118$81
38 years$718$465$291$178$107$72
39 years$692$442$273$164$97$65
40 years$667$420$256$152$88$58
41 years$644$400$240$140$80$52
42 years$621$381$225$129$72$46
43 years$600$363$211$119$66$42
44 years$580$346$198$110$60$37
45 years$561$330$186$102$54$33
46 years$542$315$175$94$49$30
47 years$525$300$164$87$45$27
48 years$508$287$154$80$41$24
49 years$492$274$145$74$37$22
50 years$476$262$136$68$33$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $488,000, adding $3,003 every year, while hoping to spend $39,648 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: 46/47/7 Blend
62$488,000$488,000$488,000$488,000
63$540,874$515,010$507,446$564,582
64$553,858$498,060$482,260$564,259
65$566,837$478,951$454,902$559,534
66$579,770$457,535$425,256$553,485
67$592,608$433,655$393,204$546,003
68$605,297$407,148$358,619$536,970
69$617,776$377,836$321,371$526,258
70$629,976$345,537$281,324$513,734
71$641,820$310,055$238,335$499,249
72$653,220$271,183$192,255$482,649
73$664,081$228,703$142,927$463,766
74$674,293$182,385$90,191$442,418
75$683,735$131,986$33,876$418,412
76$692,270$77,248$0$391,541
77$699,748$17,899$0$363,538
78$706,000$0$0$335,033
79$710,839$0$0$327,216
80$714,055$0$0$327,803
81$715,416$0$0$327,417
82$714,665$0$0$325,927
83$711,515$0$0$323,185
84$705,649$0$0$319,030
85$696,713$0$0$313,281
86$684,316$0$0$305,741
87$668,027$0$0$296,187
88$647,364$0$0$284,375
89$621,796$0$0$270,035
90$590,735$0$0$252,867
91$553,529$0$0$232,539
92$509,459$0$0$208,685
93$457,726$0$0$180,899
94$397,450$0$0$148,734
95$327,657$0$0$111,693
96$247,270$0$0$69,229
97$155,098$0$0$20,738
98$49,826$0$0$0
99$0$0$0$0
100$0$0$0$0