Can I retire at age 63 with 501,000?

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 $501,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$41,372$41,004$40,644$40,293$39,950$39,240
2 years$20,481$20,100$19,730$19,372$19,024$18,311
3 years$13,519$13,135$12,767$12,412$12,070$11,376
4 years$10,038$9,656$9,291$8,942$8,608$7,939
5 years$7,950$7,570$7,210$6,868$6,544$5,901
6 years$6,559$6,182$5,827$5,493$5,178$4,563
7 years$5,565$5,191$4,842$4,516$4,211$3,623
8 years$4,820$4,450$4,107$3,788$3,493$2,933
9 years$4,241$3,875$3,537$3,227$2,942$2,409
10 years$3,778$3,415$3,084$2,781$2,507$2,000
11 years$3,400$3,040$2,715$2,421$2,156$1,675
12 years$3,085$2,729$2,409$2,123$1,868$1,413
13 years$2,818$2,466$2,153$1,875$1,629$1,198
14 years$2,590$2,242$1,934$1,664$1,428$1,021
15 years$2,392$2,048$1,746$1,484$1,257$873
16 years$2,220$1,879$1,583$1,329$1,111$750
17 years$2,067$1,730$1,441$1,194$985$645
18 years$1,932$1,599$1,315$1,076$876$556
19 years$1,811$1,482$1,204$972$781$481
20 years$1,703$1,377$1,105$880$698$416
21 years$1,605$1,283$1,016$799$624$361
22 years$1,516$1,197$937$727$560$313
23 years$1,434$1,120$865$662$502$272
24 years$1,360$1,049$800$604$451$237
25 years$1,292$985$741$551$406$206
26 years$1,229$925$687$504$366$179
27 years$1,171$871$638$461$330$156
28 years$1,117$821$593$423$298$136
29 years$1,067$774$552$388$269$119
30 years$1,020$731$514$356$243$104
31 years$976$691$479$327$220$90
32 years$935$654$447$300$199$79
33 years$897$619$418$276$180$69
34 years$861$587$390$254$163$60
35 years$828$557$365$234$147$53
36 years$796$528$341$215$134$46
37 years$766$502$319$198$121$40
38 years$737$477$299$183$110$35
39 years$710$454$280$169$100$31
40 years$685$432$263$156$90$27
41 years$661$411$246$144$82$23
42 years$638$391$231$132$74$21
43 years$616$373$217$122$67$18
44 years$595$355$203$113$61$16
45 years$575$339$191$104$56$14
46 years$557$323$179$96$50$12
47 years$539$308$169$89$46$11
48 years$521$294$158$82$42$9
49 years$505$281$149$76$38$8
50 years$489$269$140$70$34$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $501,000, adding $3,212 every year, while hoping to spend $31,815 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: 70/24/6 Blend
62$501,000$501,000$501,000$501,000
63$555,415$528,862$521,097$593,625
64$578,217$520,926$504,703$611,364
65$602,277$511,534$486,693$626,534
66$627,693$500,582$466,980$642,254
67$654,566$487,959$445,472$658,568
68$683,009$473,547$422,073$675,530
69$713,147$457,221$396,684$693,197
70$745,114$438,851$369,199$711,633
71$779,057$418,296$339,508$730,910
72$815,138$395,409$307,498$751,108
73$853,532$370,034$273,049$772,317
74$894,432$342,006$236,037$794,636
75$938,050$311,151$196,330$818,177
76$984,618$277,283$153,794$843,063
77$1,034,389$240,210$108,285$869,432
78$1,087,640$199,724$59,656$897,438
79$1,144,676$155,608$7,752$927,251
80$1,205,833$107,632$0$959,062
81$1,271,476$55,554$0$996,131
82$1,342,008$0$0$1,036,373
83$1,417,871$0$0$1,079,796
84$1,499,550$0$0$1,142,364
85$1,587,577$0$0$1,209,815
86$1,682,538$0$0$1,282,600
87$1,785,075$0$0$1,361,215
88$1,895,895$0$0$1,446,204
89$2,015,774$0$0$1,538,166
90$2,145,566$0$0$1,637,757
91$2,286,207$0$0$1,745,702
92$2,438,731$0$0$1,862,796
93$2,604,271$0$0$1,989,913
94$2,784,075$0$0$2,128,015
95$2,979,516$0$0$2,278,159
96$3,192,102$0$0$2,441,511
97$3,423,495$0$0$2,619,350
98$3,675,524$0$0$2,813,086
99$3,950,198$0$0$3,024,271
100$4,249,732$0$0$3,254,609