Can I retire at age 63 with 508,000?

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 $508,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$41,950$41,576$41,212$40,856$40,509$39,986
2 years$20,767$20,381$20,006$19,642$19,290$18,764
3 years$13,707$13,319$12,945$12,585$12,238$11,726
4 years$10,178$9,791$9,421$9,067$8,728$8,233
5 years$8,061$7,676$7,311$6,964$6,635$6,158
6 years$6,650$6,268$5,908$5,569$5,250$4,792
7 years$5,643$5,264$4,910$4,579$4,270$3,831
8 years$4,888$4,512$4,164$3,841$3,542$3,123
9 years$4,301$3,929$3,586$3,272$2,983$2,583
10 years$3,831$3,463$3,127$2,820$2,542$2,160
11 years$3,447$3,083$2,753$2,454$2,186$1,823
12 years$3,128$2,767$2,443$2,153$1,894$1,549
13 years$2,858$2,501$2,183$1,901$1,652$1,325
14 years$2,626$2,273$1,961$1,687$1,448$1,138
15 years$2,426$2,076$1,771$1,505$1,275$981
16 years$2,251$1,905$1,605$1,347$1,127$849
17 years$2,096$1,754$1,461$1,211$999$737
18 years$1,959$1,621$1,333$1,091$888$641
19 years$1,837$1,503$1,221$986$792$559
20 years$1,727$1,396$1,120$893$707$488
21 years$1,627$1,301$1,030$810$633$427
22 years$1,537$1,214$950$737$567$374
23 years$1,454$1,135$877$671$509$328
24 years$1,379$1,064$811$612$458$288
25 years$1,310$998$751$559$412$253
26 years$1,246$938$697$511$371$222
27 years$1,187$883$647$468$335$196
28 years$1,132$832$601$429$302$172
29 years$1,081$785$560$393$273$152
30 years$1,034$741$521$361$246$134
31 years$990$701$486$331$223$118
32 years$949$663$453$304$201$104
33 years$910$628$423$280$182$92
34 years$873$595$396$258$165$81
35 years$839$564$370$237$149$71
36 years$807$536$346$218$135$63
37 years$776$509$324$201$123$56
38 years$748$484$303$185$111$49
39 years$720$460$284$171$101$43
40 years$695$438$266$158$92$38
41 years$670$416$250$146$83$34
42 years$647$397$234$134$75$30
43 years$625$378$220$124$68$26
44 years$604$360$206$114$62$23
45 years$584$344$194$106$56$21
46 years$564$328$182$98$51$18
47 years$546$313$171$90$46$16
48 years$529$299$161$83$42$14
49 years$512$285$151$77$38$13
50 years$496$272$142$71$35$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $508,000, adding $4,712 every year, while hoping to spend $25,911 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: 66/7/27 Blend
62$508,000$508,000$508,000$508,000
63$564,676$537,752$529,878$597,660
64$594,704$536,533$520,060$619,258
65$626,927$534,386$509,045$639,532
66$661,540$531,237$496,764$661,120
67$698,760$527,011$483,149$684,155
68$738,823$521,624$468,124$708,781
69$781,989$514,990$451,612$735,161
70$828,544$507,017$433,534$763,472
71$878,802$497,607$413,803$793,913
72$933,107$486,657$392,333$826,701
73$991,839$474,057$369,031$862,078
74$1,055,412$459,693$343,800$900,313
75$1,124,287$443,440$316,539$941,701
76$1,198,964$425,169$287,144$986,569
77$1,279,999$404,743$255,504$1,035,279
78$1,368,000$382,016$221,504$1,088,231
79$1,463,637$356,835$185,025$1,145,868
80$1,567,645$329,038$145,940$1,208,678
81$1,680,836$298,451$104,121$1,277,202
82$1,804,101$264,895$59,428$1,352,038
83$1,938,421$228,177$11,721$1,433,844
84$2,084,877$188,095$0$1,523,351
85$2,244,656$144,433$0$1,632,653
86$2,419,067$96,966$0$1,755,688
87$2,609,550$45,456$0$1,890,106
88$2,817,690$0$0$2,037,039
89$3,045,232$0$0$2,198,535
90$3,294,098$0$0$2,379,026
91$3,566,403$0$0$2,576,548
92$3,864,477$0$0$2,792,796
93$4,190,884$0$0$3,029,635
94$4,548,451$0$0$3,289,118
95$4,940,287$0$0$3,573,508
96$5,369,820$0$0$3,885,296
97$5,840,821$0$0$4,227,226
98$6,357,449$0$0$4,602,321
99$6,924,279$0$0$5,013,908
100$7,546,355$0$0$5,465,655