Can I retire at age 63 with 489,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $489,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$40,381$40,021$39,671$39,328$38,994$38,253
2 years$19,991$19,618$19,258$18,908$18,568$17,825
3 years$13,195$12,821$12,461$12,114$11,781$11,058
4 years$9,797$9,425$9,068$8,728$8,402$7,706
5 years$7,760$7,389$7,037$6,704$6,387$5,719
6 years$6,401$6,034$5,687$5,361$5,054$4,414
7 years$5,432$5,067$4,726$4,408$4,110$3,500
8 years$4,705$4,343$4,008$3,697$3,410$2,828
9 years$4,140$3,782$3,452$3,149$2,872$2,318
10 years$3,688$3,333$3,010$2,715$2,447$1,921
11 years$3,318$2,968$2,650$2,363$2,104$1,606
12 years$3,011$2,664$2,352$2,072$1,823$1,352
13 years$2,751$2,407$2,101$1,830$1,590$1,144
14 years$2,528$2,188$1,888$1,624$1,394$973
15 years$2,335$1,999$1,704$1,448$1,227$831
16 years$2,166$1,834$1,545$1,297$1,085$711
17 years$2,018$1,689$1,406$1,165$962$611
18 years$1,886$1,561$1,284$1,050$855$526
19 years$1,768$1,446$1,175$949$762$453
20 years$1,662$1,344$1,078$859$681$392
21 years$1,566$1,252$992$780$609$339
22 years$1,479$1,169$914$709$546$293
23 years$1,400$1,093$844$646$490$254
24 years$1,327$1,024$781$589$441$220
25 years$1,261$961$723$538$396$191
26 years$1,199$903$671$492$357$166
27 years$1,143$850$623$450$322$145
28 years$1,090$801$579$413$291$126
29 years$1,041$756$539$378$262$109
30 years$995$714$502$347$237$95
31 years$953$675$468$319$214$83
32 years$913$638$436$293$194$72
33 years$876$604$408$269$175$63
34 years$841$573$381$248$159$55
35 years$808$543$356$228$144$48
36 years$777$516$333$210$130$42
37 years$747$490$312$194$118$36
38 years$720$466$292$179$107$32
39 years$693$443$273$165$97$28
40 years$669$421$256$152$88$24
41 years$645$401$240$140$80$21
42 years$623$382$225$129$73$18
43 years$601$364$212$119$66$16
44 years$581$347$199$110$60$14
45 years$562$331$186$102$54$12
46 years$543$315$175$94$49$11
47 years$526$301$165$87$45$9
48 years$509$287$155$80$41$8
49 years$493$274$145$74$37$7
50 years$477$262$137$69$34$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $489,000, adding $4,683 every year, while hoping to spend $27,731 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: 60/28/12 Blend
62$489,000$489,000$489,000$489,000
63$543,709$517,792$510,212$574,481
64$569,661$513,658$497,799$591,598
65$597,332$508,392$484,040$606,714
66$626,866$501,909$468,861$622,531
67$658,424$494,120$452,186$639,119
68$692,180$484,930$433,931$656,556
69$728,328$474,236$414,013$674,929
70$767,077$461,934$392,342$694,334
71$808,659$447,909$368,826$714,881
72$853,328$432,042$343,367$736,689
73$901,362$414,206$315,865$759,894
74$953,066$394,268$286,212$784,644
75$1,008,777$372,086$254,298$811,107
76$1,068,864$347,509$220,008$839,468
77$1,133,730$320,379$183,221$869,933
78$1,203,822$290,530$143,811$902,733
79$1,279,629$257,782$101,645$938,121
80$1,361,688$221,951$56,587$976,383
81$1,450,590$182,836$8,493$1,017,833
82$1,546,986$140,231$0$1,062,820
83$1,651,590$93,914$0$1,117,218
84$1,765,188$43,651$0$1,177,490
85$1,888,645$0$0$1,243,048
86$2,022,912$0$0$1,317,772
87$2,169,035$0$0$1,413,765
88$2,328,166$0$0$1,518,340
89$2,501,572$0$0$1,632,333
90$2,690,647$0$0$1,756,666
91$2,896,926$0$0$1,892,352
92$3,122,098$0$0$2,040,509
93$3,368,023$0$0$2,202,364
94$3,636,748$0$0$2,379,271
95$3,930,526$0$0$2,572,718
96$4,251,838$0$0$2,784,347
97$4,603,417$0$0$3,015,961
98$4,988,271$0$0$3,269,550
99$5,409,712$0$0$3,547,303
100$5,871,387$0$0$3,851,630