Can I retire at age 63 with 516,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $516,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$42,611$42,231$41,861$41,499$41,147$40,887
2 years$21,094$20,702$20,321$19,952$19,594$19,332
3 years$13,923$13,529$13,149$12,783$12,431$12,175
4 years$10,338$9,945$9,569$9,210$8,866$8,618
5 years$8,188$7,797$7,426$7,074$6,740$6,500
6 years$6,755$6,367$6,001$5,657$5,333$5,102
7 years$5,732$5,347$4,987$4,651$4,337$4,116
8 years$4,965$4,583$4,229$3,902$3,598$3,385
9 years$4,368$3,991$3,643$3,323$3,030$2,826
10 years$3,891$3,517$3,176$2,865$2,582$2,387
11 years$3,502$3,131$2,796$2,493$2,220$2,034
12 years$3,177$2,811$2,481$2,187$1,924$1,746
13 years$2,903$2,540$2,217$1,931$1,678$1,509
14 years$2,668$2,309$1,992$1,714$1,471$1,310
15 years$2,464$2,109$1,798$1,528$1,295$1,142
16 years$2,286$1,935$1,631$1,369$1,145$999
17 years$2,129$1,782$1,484$1,230$1,015$877
18 years$1,990$1,647$1,354$1,108$902$771
19 years$1,866$1,526$1,240$1,001$804$680
20 years$1,754$1,418$1,138$907$718$601
21 years$1,653$1,321$1,047$823$643$532
22 years$1,561$1,233$965$748$576$472
23 years$1,477$1,153$891$682$517$419
24 years$1,401$1,081$824$622$465$372
25 years$1,330$1,014$763$568$418$331
26 years$1,266$953$708$519$377$295
27 years$1,206$897$657$475$340$263
28 years$1,150$845$611$435$307$234
29 years$1,098$797$568$399$277$209
30 years$1,050$753$529$366$250$187
31 years$1,005$712$494$336$226$167
32 years$963$674$461$309$205$149
33 years$924$638$430$284$185$133
34 years$887$605$402$262$168$119
35 years$852$573$376$241$152$107
36 years$820$544$351$222$138$95
37 years$789$517$329$204$125$85
38 years$759$491$308$188$113$76
39 years$732$467$289$174$102$68
40 years$705$444$270$160$93$61
41 years$681$423$254$148$84$55
42 years$657$403$238$136$77$49
43 years$634$384$223$126$69$44
44 years$613$366$210$116$63$39
45 years$593$349$197$107$57$35
46 years$573$333$185$99$52$32
47 years$555$318$174$92$47$28
48 years$537$303$163$85$43$25
49 years$520$290$153$78$39$23
50 years$504$277$144$72$35$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $516,000, adding $4,543 every year, while hoping to spend $37,889 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: 33/38/29 Blend
62$516,000$516,000$516,000$516,000
63$573,318$545,970$537,972$587,075
64$591,483$532,409$515,681$584,384
65$610,231$516,914$491,372$577,818
66$629,581$499,349$464,940$570,013
67$649,554$479,573$436,271$560,884
68$670,170$457,433$405,248$550,344
69$691,451$432,772$371,748$538,302
70$713,421$405,419$335,643$524,658
71$736,101$375,196$296,798$509,312
72$759,518$341,915$255,075$492,153
73$783,695$305,375$210,327$473,069
74$808,660$265,366$162,400$451,939
75$834,439$221,665$111,137$428,637
76$861,062$174,037$56,370$403,029
77$888,557$122,232$0$374,975
78$916,957$65,988$0$344,971
79$946,293$5,028$0$330,873
80$976,600$0$0$315,117
81$1,007,912$0$0$323,074
82$1,040,266$0$0$333,471
83$1,073,701$0$0$344,218
84$1,108,258$0$0$355,328
85$1,143,977$0$0$366,815
86$1,180,905$0$0$378,695
87$1,219,087$0$0$390,981
88$1,258,572$0$0$403,691
89$1,299,411$0$0$416,842
90$1,341,658$0$0$430,451
91$1,385,371$0$0$444,537
92$1,430,608$0$0$459,121
93$1,477,433$0$0$474,224
94$1,525,913$0$0$489,868
95$1,576,118$0$0$506,077
96$1,628,123$0$0$522,875
97$1,682,006$0$0$540,290
98$1,737,852$0$0$558,350
99$1,795,748$0$0$577,085
100$1,855,790$0$0$596,528