Can I retire at age 63 with 550,000?

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 $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%18%
1 years$45,418$45,014$44,619$44,234$43,858$42,437
2 years$22,484$22,066$21,660$21,266$20,885$19,466
3 years$14,841$14,420$14,015$13,626$13,250$11,879
4 years$11,020$10,600$10,200$9,816$9,450$8,137
5 years$8,728$8,311$7,915$7,540$7,184$5,932
6 years$7,200$6,786$6,397$6,030$5,684$4,494
7 years$6,109$5,699$5,316$4,957$4,623$3,495
8 years$5,292$4,885$4,508$4,159$3,835$2,769
9 years$4,656$4,254$3,883$3,542$3,230$2,223
10 years$4,148$3,749$3,385$3,053$2,752$1,804
11 years$3,732$3,338$2,980$2,657$2,367$1,476
12 years$3,386$2,996$2,645$2,331$2,051$1,215
13 years$3,094$2,707$2,363$2,058$1,788$1,005
14 years$2,843$2,461$2,123$1,827$1,568$835
15 years$2,626$2,248$1,917$1,629$1,380$696
16 years$2,437$2,063$1,738$1,459$1,220$582
17 years$2,270$1,900$1,582$1,311$1,082$487
18 years$2,121$1,755$1,444$1,181$962$409
19 years$1,989$1,627$1,322$1,067$857$344
20 years$1,869$1,512$1,213$967$766$289
21 years$1,762$1,408$1,116$877$685$244
22 years$1,664$1,314$1,028$798$614$206
23 years$1,575$1,229$949$726$551$174
24 years$1,493$1,152$878$663$496$147
25 years$1,418$1,081$813$605$446$124
26 years$1,349$1,016$754$553$402$105
27 years$1,285$956$700$506$362$89
28 years$1,226$901$651$464$327$75
29 years$1,171$850$606$425$295$63
30 years$1,120$803$564$390$267$54
31 years$1,072$759$526$359$241$45
32 years$1,027$718$491$330$218$38
33 years$985$680$458$303$197$33
34 years$946$644$428$279$179$28
35 years$908$611$400$257$162$23
36 years$874$580$375$236$147$20
37 years$841$551$351$218$133$17
38 years$809$524$328$201$120$14
39 years$780$498$308$185$109$12
40 years$752$474$288$171$99$10
41 years$725$451$270$158$90$9
42 years$700$429$254$145$82$7
43 years$676$409$238$134$74$6
44 years$653$390$223$124$67$5
45 years$632$372$210$114$61$4
46 years$611$355$197$106$55$4
47 years$591$339$185$98$50$3
48 years$572$323$174$90$46$3
49 years$554$309$163$83$41$2
50 years$537$295$154$77$38$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $550,000, adding $5,921 every year, while hoping to spend $28,804 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: 36/47/17 Blend
62$550,000$550,000$550,000$550,000
63$612,208$583,058$574,533$630,883
64$644,005$580,980$563,132$642,876
65$678,081$577,836$550,384$652,667
66$714,637$573,541$536,214$662,628
67$753,895$568,009$520,541$672,788
68$796,097$561,146$503,284$683,185
69$841,511$552,854$484,357$693,859
70$890,429$543,029$463,667$704,861
71$943,175$531,559$441,122$716,246
72$1,000,101$518,328$416,622$728,080
73$1,061,597$503,211$390,064$740,439
74$1,128,089$486,078$361,340$753,407
75$1,200,046$466,788$330,337$767,083
76$1,277,986$445,195$296,938$781,578
77$1,362,474$421,144$261,020$797,019
78$1,454,136$394,469$222,453$813,550
79$1,553,656$364,997$181,104$831,334
80$1,661,791$332,543$136,833$850,555
81$1,779,369$296,914$89,492$871,420
82$1,907,306$257,903$38,931$894,165
83$2,046,604$215,293$0$919,053
84$2,198,371$168,856$0$949,106
85$2,363,822$118,348$0$989,644
86$2,544,298$63,513$0$1,034,003
87$2,741,273$4,081$0$1,082,635
88$2,956,369$0$0$1,136,042
89$3,191,373$0$0$1,225,936
90$3,448,251$0$0$1,326,579
91$3,729,168$0$0$1,436,721
92$4,036,508$0$0$1,557,303
93$4,372,896$0$0$1,689,367
94$4,741,223$0$0$1,834,058
95$5,144,672$0$0$1,992,638
96$5,586,747$0$0$2,166,494
97$6,071,310$0$0$2,357,159
98$6,602,611$0$0$2,566,316
99$7,185,334$0$0$2,795,822
100$7,824,637$0$0$3,047,722