Can I retire at age 63 with 498,000?

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 $498,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$41,124$40,758$40,401$40,052$39,711$38,846
2 years$20,359$19,979$19,612$19,256$18,910$18,043
3 years$13,438$13,057$12,690$12,337$11,997$11,155
4 years$9,978$9,598$9,235$8,888$8,557$7,746
5 years$7,902$7,525$7,167$6,827$6,505$5,727
6 years$6,519$6,145$5,792$5,460$5,147$4,404
7 years$5,532$5,160$4,813$4,489$4,186$3,478
8 years$4,791$4,423$4,082$3,765$3,473$2,799
9 years$4,216$3,851$3,516$3,207$2,924$2,285
10 years$3,756$3,395$3,065$2,765$2,492$1,885
11 years$3,380$3,022$2,698$2,406$2,143$1,569
12 years$3,066$2,713$2,395$2,111$1,857$1,315
13 years$2,801$2,451$2,140$1,863$1,619$1,108
14 years$2,574$2,228$1,922$1,654$1,420$938
15 years$2,378$2,036$1,736$1,475$1,250$797
16 years$2,206$1,868$1,574$1,321$1,105$679
17 years$2,055$1,720$1,432$1,187$979$580
18 years$1,921$1,589$1,307$1,069$871$497
19 years$1,800$1,473$1,197$966$776$426
20 years$1,693$1,369$1,098$875$693$366
21 years$1,595$1,275$1,010$794$620$315
22 years$1,506$1,190$931$722$556$271
23 years$1,426$1,113$860$658$499$234
24 years$1,352$1,043$795$600$449$202
25 years$1,284$979$736$548$404$174
26 years$1,221$920$683$501$364$150
27 years$1,164$866$634$459$328$130
28 years$1,110$816$590$420$296$112
29 years$1,060$770$549$385$267$97
30 years$1,014$727$511$354$241$84
31 years$970$687$476$325$218$73
32 years$930$650$445$298$197$63
33 years$892$616$415$274$179$55
34 years$856$583$388$252$162$47
35 years$823$553$363$232$147$41
36 years$791$525$339$214$133$36
37 years$761$499$317$197$120$31
38 years$733$474$297$182$109$27
39 years$706$451$279$168$99$23
40 years$681$429$261$155$90$20
41 years$657$408$245$143$81$17
42 years$634$389$230$132$74$15
43 years$612$370$215$122$67$13
44 years$592$353$202$112$61$11
45 years$572$337$190$104$55$10
46 years$553$321$178$96$50$9
47 years$535$307$168$88$46$7
48 years$518$293$157$82$41$6
49 years$502$279$148$76$38$6
50 years$486$267$139$70$34$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $498,000, adding $6,691 every year, while hoping to spend $35,923 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: 54/21/25 Blend
62$498,000$498,000$498,000$498,000
63$555,698$529,304$521,585$581,540
64$574,157$517,018$500,836$587,785
65$593,295$502,926$478,188$590,307
66$613,144$486,902$453,540$592,312
67$633,736$468,811$426,785$593,762
68$655,107$448,513$397,812$594,619
69$677,294$425,857$366,506$594,844
70$700,339$400,685$332,744$594,393
71$724,285$372,829$296,402$593,223
72$749,177$342,112$257,346$591,288
73$775,064$308,348$215,439$588,542
74$802,001$271,337$170,537$584,934
75$830,044$230,871$122,488$580,413
76$859,253$186,728$71,136$574,928
77$889,695$138,676$16,317$568,423
78$921,440$86,467$0$560,841
79$954,564$29,841$0$563,379
80$989,150$0$0$570,099
81$1,025,286$0$0$583,906
82$1,063,068$0$0$605,563
83$1,102,600$0$0$628,236
84$1,143,994$0$0$651,989
85$1,187,371$0$0$676,896
86$1,232,863$0$0$703,032
87$1,280,613$0$0$730,483
88$1,330,777$0$0$759,340
89$1,383,524$0$0$789,702
90$1,439,036$0$0$821,677
91$1,497,513$0$0$855,384
92$1,559,174$0$0$890,951
93$1,624,255$0$0$928,518
94$1,693,015$0$0$968,237
95$1,765,735$0$0$1,010,275
96$1,842,724$0$0$1,054,814
97$1,924,318$0$0$1,102,054
98$2,010,883$0$0$1,152,211
99$2,102,823$0$0$1,205,523
100$2,200,575$0$0$1,262,250