Can I retire at age 63 with 550,000?

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 $550,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$45,418$45,014$44,619$44,234$43,858$43,364
2 years$22,484$22,066$21,660$21,266$20,885$20,387
3 years$14,841$14,420$14,015$13,626$13,250$12,765
4 years$11,020$10,600$10,200$9,816$9,450$8,981
5 years$8,728$8,311$7,915$7,540$7,184$6,732
6 years$7,200$6,786$6,397$6,030$5,684$5,250
7 years$6,109$5,699$5,316$4,957$4,623$4,206
8 years$5,292$4,885$4,508$4,159$3,835$3,437
9 years$4,656$4,254$3,883$3,542$3,230$2,849
10 years$4,148$3,749$3,385$3,053$2,752$2,389
11 years$3,732$3,338$2,980$2,657$2,367$2,021
12 years$3,386$2,996$2,645$2,331$2,051$1,722
13 years$3,094$2,707$2,363$2,058$1,788$1,476
14 years$2,843$2,461$2,123$1,827$1,568$1,271
15 years$2,626$2,248$1,917$1,629$1,380$1,099
16 years$2,437$2,063$1,738$1,459$1,220$954
17 years$2,270$1,900$1,582$1,311$1,082$830
18 years$2,121$1,755$1,444$1,181$962$724
19 years$1,989$1,627$1,322$1,067$857$633
20 years$1,869$1,512$1,213$967$766$555
21 years$1,762$1,408$1,116$877$685$487
22 years$1,664$1,314$1,028$798$614$428
23 years$1,575$1,229$949$726$551$376
24 years$1,493$1,152$878$663$496$331
25 years$1,418$1,081$813$605$446$292
26 years$1,349$1,016$754$553$402$257
27 years$1,285$956$700$506$362$227
28 years$1,226$901$651$464$327$201
29 years$1,171$850$606$425$295$177
30 years$1,120$803$564$390$267$157
31 years$1,072$759$526$359$241$139
32 years$1,027$718$491$330$218$123
33 years$985$680$458$303$197$109
34 years$946$644$428$279$179$96
35 years$908$611$400$257$162$85
36 years$874$580$375$236$147$75
37 years$841$551$351$218$133$67
38 years$809$524$328$201$120$59
39 years$780$498$308$185$109$52
40 years$752$474$288$171$99$47
41 years$725$451$270$158$90$41
42 years$700$429$254$145$82$37
43 years$676$409$238$134$74$32
44 years$653$390$223$124$67$29
45 years$632$372$210$114$61$25
46 years$611$355$197$106$55$23
47 years$591$339$185$98$50$20
48 years$572$323$174$90$46$18
49 years$554$309$163$83$41$16
50 years$537$295$154$77$38$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $550,000, adding $6,866 every year, while hoping to spend $38,998 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: 72/21/7 Blend
62$550,000$550,000$550,000$550,000
63$613,182$584,032$575,507$656,205
64$634,233$571,156$553,293$672,646
65$656,124$556,342$529,028$685,109
66$678,900$539,454$502,602$697,664
67$702,609$520,348$473,899$710,309
68$727,301$498,871$442,801$723,043
69$753,032$474,862$409,181$735,866
70$779,861$448,150$372,908$748,776
71$807,852$418,555$333,846$761,776
72$837,075$385,886$291,852$774,867
73$867,603$349,941$246,776$788,054
74$899,517$310,507$198,461$801,343
75$932,905$267,358$146,746$814,740
76$967,859$220,257$91,460$828,257
77$1,004,482$168,951$32,425$841,905
78$1,042,884$113,175$0$855,701
79$1,083,186$52,648$0$871,948
80$1,125,518$0$0$891,119
81$1,170,020$0$0$913,820
82$1,216,847$0$0$950,517
83$1,266,167$0$0$989,177
84$1,318,161$0$0$1,029,944
85$1,373,027$0$0$1,072,976
86$1,430,984$0$0$1,118,443
87$1,492,265$0$0$1,166,532
88$1,557,131$0$0$1,217,447
89$1,625,861$0$0$1,271,412
90$1,698,763$0$0$1,328,670
91$1,776,174$0$0$1,389,486
92$1,858,461$0$0$1,454,152
93$1,946,027$0$0$1,522,987
94$2,039,312$0$0$1,596,339
95$2,138,797$0$0$1,674,591
96$2,245,012$0$0$1,758,159
97$2,358,534$0$0$1,847,504
98$2,479,998$0$0$1,943,127
99$2,610,100$0$0$2,045,580
100$2,749,602$0$0$2,155,467