Can I retire at age 63 with 516,000?

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 $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%13%
1 years$42,611$42,231$41,861$41,499$41,147$40,632
2 years$21,094$20,702$20,321$19,952$19,594$19,076
3 years$13,923$13,529$13,149$12,783$12,431$11,927
4 years$10,338$9,945$9,569$9,210$8,866$8,378
5 years$8,188$7,797$7,426$7,074$6,740$6,270
6 years$6,755$6,367$6,001$5,657$5,333$4,882
7 years$5,732$5,347$4,987$4,651$4,337$3,905
8 years$4,965$4,583$4,229$3,902$3,598$3,185
9 years$4,368$3,991$3,643$3,323$3,030$2,636
10 years$3,891$3,517$3,176$2,865$2,582$2,206
11 years$3,502$3,131$2,796$2,493$2,220$1,863
12 years$3,177$2,811$2,481$2,187$1,924$1,584
13 years$2,903$2,540$2,217$1,931$1,678$1,355
14 years$2,668$2,309$1,992$1,714$1,471$1,165
15 years$2,464$2,109$1,798$1,528$1,295$1,005
16 years$2,286$1,935$1,631$1,369$1,145$871
17 years$2,129$1,782$1,484$1,230$1,015$756
18 years$1,990$1,647$1,354$1,108$902$658
19 years$1,866$1,526$1,240$1,001$804$574
20 years$1,754$1,418$1,138$907$718$502
21 years$1,653$1,321$1,047$823$643$439
22 years$1,561$1,233$965$748$576$385
23 years$1,477$1,153$891$682$517$338
24 years$1,401$1,081$824$622$465$297
25 years$1,330$1,014$763$568$418$261
26 years$1,266$953$708$519$377$230
27 years$1,206$897$657$475$340$202
28 years$1,150$845$611$435$307$178
29 years$1,098$797$568$399$277$157
30 years$1,050$753$529$366$250$139
31 years$1,005$712$494$336$226$122
32 years$963$674$461$309$205$108
33 years$924$638$430$284$185$95
34 years$887$605$402$262$168$84
35 years$852$573$376$241$152$74
36 years$820$544$351$222$138$66
37 years$789$517$329$204$125$58
38 years$759$491$308$188$113$51
39 years$732$467$289$174$102$45
40 years$705$444$270$160$93$40
41 years$681$423$254$148$84$35
42 years$657$403$238$136$77$31
43 years$634$384$223$126$69$28
44 years$613$366$210$116$63$25
45 years$593$349$197$107$57$22
46 years$573$333$185$99$52$19
47 years$555$318$174$92$47$17
48 years$537$303$163$85$43$15
49 years$520$290$153$78$39$13
50 years$504$277$144$72$35$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $516,000, adding $5,364 every year, while hoping to spend $28,823 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: 76/16/8 Blend
62$516,000$516,000$516,000$516,000
63$574,165$546,817$538,819$616,715
64$602,062$542,944$526,202$641,573
65$631,839$537,914$512,196$664,595
66$663,657$531,642$496,725$688,999
67$697,692$524,035$479,707$714,911
68$734,139$514,995$461,060$742,470
69$773,209$504,418$440,694$771,829
70$815,137$492,195$418,517$803,159
71$860,178$478,209$394,434$836,645
72$908,612$462,337$368,344$872,495
73$960,749$444,450$340,142$910,935
74$1,016,927$424,410$309,718$952,219
75$1,077,517$402,070$276,958$996,622
76$1,142,930$377,277$241,741$1,044,453
77$1,213,612$349,867$203,943$1,096,049
78$1,290,058$319,668$163,433$1,151,784
79$1,372,811$286,499$120,075$1,212,070
80$1,462,466$250,166$73,726$1,277,363
81$1,559,680$210,466$24,238$1,348,166
82$1,665,172$167,184$0$1,425,033
83$1,779,736$120,092$0$1,511,017
84$1,904,245$68,952$0$1,606,722
85$2,039,657$13,510$0$1,710,836
86$2,187,028$0$0$1,824,200
87$2,347,520$0$0$1,955,926
88$2,522,411$0$0$2,102,080
89$2,713,107$0$0$2,261,462
90$2,921,156$0$0$2,435,366
91$3,148,263$0$0$2,625,221
92$3,396,303$0$0$2,832,597
93$3,667,341$0$0$3,059,223
94$3,963,650$0$0$3,307,002
95$4,287,733$0$0$3,578,030
96$4,642,346$0$0$3,874,615
97$5,030,523$0$0$4,199,297
98$5,455,606$0$0$4,554,876
99$5,921,275$0$0$4,944,433
100$6,431,582$0$0$5,371,360