Can I retire at age 63 with 562,000?

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 $562,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.1%
1 years$46,409$45,996$45,593$45,199$44,815$44,054
2 years$22,975$22,547$22,132$21,730$21,340$20,576
3 years$15,164$14,735$14,321$13,923$13,539$12,796
4 years$11,260$10,832$10,422$10,031$9,656$8,939
5 years$8,918$8,492$8,088$7,704$7,341$6,651
6 years$7,357$6,934$6,536$6,161$5,808$5,148
7 years$6,243$5,824$5,432$5,066$4,724$4,093
8 years$5,407$4,992$4,607$4,249$3,919$3,317
9 years$4,758$4,346$3,968$3,620$3,300$2,727
10 years$4,238$3,831$3,459$3,120$2,812$2,267
11 years$3,814$3,411$3,045$2,715$2,418$1,901
12 years$3,460$3,061$2,703$2,382$2,096$1,606
13 years$3,161$2,766$2,415$2,103$1,827$1,364
14 years$2,905$2,515$2,170$1,867$1,602$1,164
15 years$2,684$2,297$1,959$1,665$1,410$997
16 years$2,490$2,108$1,776$1,491$1,247$857
17 years$2,319$1,941$1,616$1,339$1,105$738
18 years$2,167$1,794$1,475$1,207$983$638
19 years$2,032$1,662$1,350$1,091$876$552
20 years$1,910$1,545$1,239$988$782$478
21 years$1,800$1,439$1,140$896$700$415
22 years$1,700$1,343$1,051$815$628$361
23 years$1,609$1,256$970$742$563$314
24 years$1,526$1,177$897$677$506$274
25 years$1,449$1,104$831$618$456$238
26 years$1,378$1,038$771$565$410$208
27 years$1,313$977$716$517$370$182
28 years$1,253$921$665$474$334$159
29 years$1,196$868$619$435$302$139
30 years$1,144$820$577$399$272$121
31 years$1,095$775$538$366$246$106
32 years$1,049$734$502$337$223$93
33 years$1,006$695$468$310$202$81
34 years$966$658$438$285$183$71
35 years$928$625$409$262$165$62
36 years$893$593$383$242$150$54
37 years$859$563$358$223$136$48
38 years$827$535$335$205$123$42
39 years$797$509$314$189$112$36
40 years$768$484$295$174$101$32
41 years$741$461$276$161$92$28
42 years$716$439$259$149$83$24
43 years$691$418$243$137$76$21
44 years$668$399$228$127$69$19
45 years$646$380$214$117$62$16
46 years$624$363$201$108$57$14
47 years$604$346$189$100$51$13
48 years$585$330$178$92$47$11
49 years$566$315$167$85$42$10
50 years$549$301$157$79$39$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $562,000, adding $4,360 every year, while hoping to spend $28,026 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: 65/28/7 Blend
62$562,000$562,000$562,000$562,000
63$623,821$594,035$585,324$663,298
64$657,632$593,324$575,113$689,395
65$693,951$591,638$563,621$714,162
66$733,007$588,900$550,774$740,484
67$775,046$585,029$536,498$768,509
68$820,343$579,938$520,713$798,403
69$869,197$573,533$503,336$830,346
70$921,937$565,718$484,279$864,539
71$978,924$556,389$463,453$901,206
72$1,040,558$545,435$440,762$940,591
73$1,107,274$532,741$416,107$982,967
74$1,179,554$518,183$389,384$1,028,634
75$1,257,925$501,631$360,485$1,077,925
76$1,342,969$482,946$329,297$1,131,206
77$1,435,325$461,983$295,701$1,188,885
78$1,535,695$438,588$259,574$1,251,411
79$1,644,853$412,595$220,787$1,319,280
80$1,763,649$383,834$179,205$1,393,041
81$1,893,020$352,120$134,687$1,473,300
82$2,033,995$317,261$87,086$1,560,729
83$2,187,708$279,053$36,248$1,656,069
84$2,355,407$237,278$0$1,760,137
85$2,538,464$191,711$0$1,875,184
86$2,738,391$142,108$0$2,003,841
87$2,956,853$88,217$0$2,144,514
88$3,195,680$29,769$0$2,298,438
89$3,456,891$0$0$2,466,974
90$3,742,706$0$0$2,661,952
91$4,055,570$0$0$2,885,460
92$4,398,176$0$0$3,130,253
93$4,773,489$0$0$3,398,455
94$5,184,776$0$0$3,692,404
95$5,635,631$0$0$4,014,677
96$6,130,018$0$0$4,368,109
97$6,672,298$0$0$4,755,825
98$7,267,276$0$0$5,181,266
99$7,920,246$0$0$5,648,224
100$8,637,037$0$0$6,160,872