Can I retire at age 63 with 493,000?

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 $493,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.3%
1 years$40,711$40,349$39,995$39,650$39,313$37,993
2 years$20,154$19,779$19,415$19,062$18,720$17,404
3 years$13,303$12,926$12,563$12,213$11,877$10,605
4 years$9,878$9,502$9,143$8,799$8,471$7,253
5 years$7,823$7,449$7,095$6,759$6,439$5,279
6 years$6,454$6,083$5,734$5,405$5,095$3,994
7 years$5,476$5,109$4,765$4,444$4,144$3,100
8 years$4,743$4,379$4,041$3,728$3,438$2,452
9 years$4,174$3,813$3,480$3,175$2,895$1,965
10 years$3,718$3,361$3,034$2,737$2,467$1,592
11 years$3,346$2,992$2,671$2,382$2,121$1,299
12 years$3,035$2,685$2,371$2,089$1,838$1,068
13 years$2,773$2,427$2,118$1,845$1,603$881
14 years$2,549$2,206$1,903$1,637$1,405$731
15 years$2,354$2,015$1,718$1,460$1,237$608
16 years$2,184$1,849$1,558$1,308$1,094$507
17 years$2,034$1,703$1,418$1,175$970$424
18 years$1,901$1,573$1,294$1,059$862$355
19 years$1,782$1,458$1,185$957$768$298
20 years$1,676$1,355$1,087$866$686$250
21 years$1,579$1,262$1,000$786$614$210
22 years$1,491$1,178$922$715$551$177
23 years$1,411$1,102$851$651$494$149
24 years$1,338$1,032$787$594$444$125
25 years$1,271$969$729$542$400$106
26 years$1,209$911$676$496$360$89
27 years$1,152$857$628$454$325$75
28 years$1,099$808$584$416$293$63
29 years$1,049$762$543$381$264$54
30 years$1,004$719$506$350$239$45
31 years$961$680$472$321$216$38
32 years$921$644$440$295$195$32
33 years$883$609$411$272$177$27
34 years$848$578$384$250$160$23
35 years$814$548$359$230$145$19
36 years$783$520$336$212$131$16
37 years$753$494$314$195$119$14
38 years$726$469$294$180$108$12
39 years$699$446$276$166$98$10
40 years$674$425$258$153$89$8
41 years$650$404$242$141$81$7
42 years$628$385$227$130$73$6
43 years$606$367$213$120$66$5
44 years$586$350$200$111$60$4
45 years$566$333$188$103$55$4
46 years$548$318$177$95$50$3
47 years$530$303$166$88$45$3
48 years$513$290$156$81$41$2
49 years$497$277$147$75$37$2
50 years$481$264$138$69$34$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $493,000, adding $6,526 every year, while hoping to spend $40,661 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: 47/47/6 Blend
62$493,000$493,000$493,000$493,000
63$550,018$523,889$516,247$574,690
64$562,856$506,296$490,278$574,704
65$575,642$486,479$462,077$569,907
66$588,326$464,285$431,525$563,742
67$600,854$439,553$398,500$556,095
68$613,164$412,114$362,872$546,843
69$625,186$381,788$324,509$535,852
70$636,844$348,384$283,268$522,979
71$648,049$311,702$239,005$508,073
72$658,704$271,530$191,566$490,967
73$668,700$227,642$140,790$471,485
74$677,913$179,802$86,513$449,436
75$686,208$127,760$28,559$424,616
76$693,432$71,251$0$396,804
77$699,415$9,996$0$367,894
78$703,969$0$0$337,589
79$706,884$0$0$332,915
80$707,927$0$0$332,408
81$706,837$0$0$330,765
82$703,327$0$0$327,834
83$697,078$0$0$323,449
84$687,734$0$0$317,426
85$674,904$0$0$309,559
86$658,151$0$0$299,622
87$636,993$0$0$287,363
88$610,895$0$0$272,506
89$579,267$0$0$254,741
90$541,454$0$0$233,730
91$496,732$0$0$209,095
92$444,300$0$0$180,421
93$383,271$0$0$147,246
94$312,668$0$0$109,063
95$231,408$0$0$65,310
96$138,296$0$0$15,365
97$32,009$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0