Can I retire at age 63 with 547,000?

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 $547,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11%
1 years$45,171$44,768$44,376$43,993$43,619$43,435
2 years$22,362$21,945$21,542$21,150$20,771$20,585
3 years$14,760$14,341$13,939$13,551$13,178$12,996
4 years$10,959$10,543$10,144$9,763$9,399$9,222
5 years$8,680$8,265$7,872$7,499$7,145$6,974
6 years$7,161$6,749$6,362$5,997$5,653$5,489
7 years$6,076$5,668$5,287$4,930$4,598$4,440
8 years$5,263$4,859$4,484$4,136$3,814$3,662
9 years$4,631$4,230$3,862$3,523$3,212$3,067
10 years$4,125$3,729$3,367$3,037$2,737$2,597
11 years$3,712$3,320$2,964$2,643$2,354$2,220
12 years$3,368$2,979$2,630$2,318$2,040$1,912
13 years$3,077$2,693$2,350$2,047$1,779$1,657
14 years$2,828$2,447$2,112$1,817$1,559$1,443
15 years$2,612$2,236$1,907$1,620$1,373$1,262
16 years$2,423$2,051$1,729$1,451$1,213$1,108
17 years$2,257$1,889$1,573$1,303$1,076$976
18 years$2,110$1,746$1,436$1,175$957$862
19 years$1,978$1,618$1,314$1,061$853$763
20 years$1,859$1,503$1,206$961$762$677
21 years$1,752$1,400$1,110$872$682$601
22 years$1,655$1,307$1,023$793$611$535
23 years$1,566$1,223$944$722$548$477
24 years$1,485$1,145$873$659$493$425
25 years$1,410$1,075$809$602$444$380
26 years$1,342$1,010$750$550$400$339
27 years$1,278$951$697$504$360$304
28 years$1,219$896$648$461$325$272
29 years$1,164$845$603$423$293$243
30 years$1,113$798$561$388$265$218
31 years$1,066$755$523$357$240$196
32 years$1,021$714$488$328$217$176
33 years$980$676$456$301$196$158
34 years$940$641$426$277$178$142
35 years$904$608$398$255$161$127
36 years$869$577$373$235$146$114
37 years$836$548$349$217$132$103
38 years$805$521$327$200$120$92
39 years$776$495$306$184$109$83
40 years$748$471$287$170$99$75
41 years$721$448$269$157$89$67
42 years$696$427$252$145$81$60
43 years$673$407$237$133$74$54
44 years$650$388$222$123$67$49
45 years$628$370$209$114$61$44
46 years$608$353$196$105$55$40
47 years$588$337$184$97$50$36
48 years$569$321$173$90$45$32
49 years$551$307$163$83$41$29
50 years$534$293$153$77$37$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $547,000, adding $2,304 every year, while hoping to spend $46,477 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: 39/47/14 Blend
62$547,000$547,000$547,000$547,000
63$605,171$576,180$567,701$626,144
64$617,447$554,961$537,268$620,054
65$629,418$531,145$504,257$608,786
66$641,002$504,556$468,534$595,595
67$652,112$475,006$429,957$580,331
68$662,644$442,299$388,378$562,831
69$672,488$406,225$343,643$542,923
70$681,517$366,565$295,590$520,419
71$689,590$323,085$244,051$495,122
72$696,551$275,540$188,849$466,816
73$702,226$223,668$129,803$435,272
74$706,421$167,195$66,719$400,243
75$708,919$105,831$0$361,465
76$709,482$39,270$0$318,744
77$707,841$0$0$282,325
78$703,702$0$0$258,907
79$696,736$0$0$254,542
80$686,579$0$0$248,762
81$672,828$0$0$241,393
82$655,034$0$0$232,241
83$632,704$0$0$221,092
84$605,288$0$0$207,708
85$572,178$0$0$191,826
86$532,704$0$0$173,158
87$486,122$0$0$151,380
88$431,610$0$0$126,139
89$368,258$0$0$97,042
90$295,062$0$0$63,655
91$210,911$0$0$25,499
92$114,578$0$0$0
93$4,706$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0