Can I retire at age 63 with 500,000?

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 $500,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$41,290$40,922$40,563$40,213$39,871$39,586
2 years$20,440$20,060$19,691$19,333$18,986$18,699
3 years$13,492$13,109$12,741$12,387$12,046$11,765
4 years$10,018$9,637$9,272$8,924$8,591$8,319
5 years$7,934$7,555$7,196$6,855$6,531$6,269
6 years$6,545$6,169$5,815$5,482$5,168$4,915
7 years$5,554$5,181$4,832$4,507$4,203$3,960
8 years$4,811$4,441$4,098$3,781$3,486$3,254
9 years$4,233$3,867$3,530$3,220$2,936$2,713
10 years$3,771$3,408$3,077$2,776$2,502$2,289
11 years$3,393$3,034$2,709$2,416$2,152$1,948
12 years$3,079$2,723$2,404$2,119$1,864$1,671
13 years$2,813$2,461$2,148$1,871$1,626$1,441
14 years$2,585$2,237$1,930$1,661$1,425$1,249
15 years$2,388$2,044$1,743$1,481$1,255$1,088
16 years$2,215$1,875$1,580$1,326$1,109$950
17 years$2,063$1,727$1,438$1,191$983$833
18 years$1,928$1,596$1,312$1,074$874$732
19 years$1,808$1,479$1,202$970$779$645
20 years$1,699$1,374$1,103$879$696$569
21 years$1,601$1,280$1,014$798$623$503
22 years$1,512$1,195$935$725$558$445
23 years$1,431$1,118$863$660$501$394
24 years$1,357$1,047$798$602$451$350
25 years$1,289$983$739$550$405$311
26 years$1,226$923$686$503$365$276
27 years$1,168$869$637$460$329$246
28 years$1,114$819$592$422$297$219
29 years$1,064$773$551$387$268$195
30 years$1,018$730$513$355$242$174
31 years$974$690$478$326$219$155
32 years$934$653$446$300$198$138
33 years$895$618$417$276$179$123
34 years$860$586$389$254$162$110
35 years$826$556$364$233$147$98
36 years$794$527$341$215$133$88
37 years$764$501$319$198$121$79
38 years$736$476$298$183$110$70
39 years$709$453$280$168$99$63
40 years$684$431$262$155$90$56
41 years$659$410$246$143$82$50
42 years$637$390$231$132$74$45
43 years$615$372$216$122$67$40
44 years$594$355$203$113$61$36
45 years$574$338$191$104$55$32
46 years$555$323$179$96$50$29
47 years$538$308$168$89$46$26
48 years$520$294$158$82$42$23
49 years$504$281$149$76$38$21
50 years$488$268$140$70$34$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $500,000, adding $5,514 every year, while hoping to spend $24,476 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: 77/16/7 Blend
62$500,000$500,000$500,000$500,000
63$556,688$530,188$522,438$598,650
64$587,428$530,125$513,897$626,920
65$620,483$529,238$504,250$654,195
66$656,063$527,462$493,434$683,381
67$694,400$524,726$481,382$714,658
68$735,747$520,956$468,026$748,223
69$780,382$516,072$453,295$784,295
70$828,613$509,991$437,112$823,114
71$880,775$502,624$419,398$864,945
72$937,238$493,876$400,072$910,080
73$998,409$483,649$379,047$958,842
74$1,064,735$471,836$356,234$1,011,585
75$1,136,707$458,326$331,537$1,068,702
76$1,214,867$443,000$304,860$1,130,624
77$1,299,809$425,732$276,098$1,197,828
78$1,392,188$406,391$245,145$1,270,838
79$1,492,723$384,836$211,889$1,350,234
80$1,602,206$360,918$176,213$1,436,656
81$1,721,509$334,481$137,994$1,530,806
82$1,851,591$305,359$97,105$1,633,463
83$1,993,507$273,376$53,412$1,745,484
84$2,148,421$238,347$6,777$1,867,812
85$2,317,610$200,076$0$2,001,491
86$2,502,483$158,357$0$2,150,880
87$2,704,590$112,971$0$2,314,785
88$2,925,638$63,686$0$2,494,108
89$3,167,506$10,259$0$2,690,404
90$3,432,264$0$0$2,905,385
91$3,722,189$0$0$3,149,314
92$4,039,792$0$0$3,418,525
93$4,387,835$0$0$3,713,557
94$4,769,362$0$0$4,036,993
95$5,187,724$0$0$4,391,675
96$5,646,614$0$0$4,780,737
97$6,150,098$0$0$5,207,628
98$6,702,654$0$0$5,676,148
99$7,309,217$0$0$6,190,484
100$7,975,219$0$0$6,755,246