Can I retire at age 63 with 566,000?

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 $566,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$46,740$46,323$45,917$45,521$45,134$44,259
2 years$23,138$22,708$22,290$21,885$21,492$20,614
3 years$15,272$14,840$14,423$14,022$13,636$12,782
4 years$11,340$10,909$10,496$10,102$9,725$8,902
5 years$8,981$8,553$8,146$7,759$7,393$6,603
6 years$7,409$6,984$6,583$6,205$5,850$5,094
7 years$6,287$5,865$5,470$5,102$4,757$4,036
8 years$5,446$5,027$4,639$4,280$3,947$3,260
9 years$4,792$4,377$3,996$3,645$3,324$2,671
10 years$4,269$3,858$3,484$3,142$2,832$2,212
11 years$3,841$3,435$3,067$2,735$2,436$1,848
12 years$3,485$3,083$2,722$2,399$2,111$1,555
13 years$3,184$2,786$2,432$2,118$1,840$1,315
14 years$2,926$2,532$2,185$1,880$1,613$1,118
15 years$2,703$2,313$1,973$1,677$1,421$953
16 years$2,508$2,123$1,789$1,501$1,255$816
17 years$2,336$1,955$1,628$1,349$1,113$700
18 years$2,183$1,806$1,486$1,215$990$602
19 years$2,046$1,674$1,360$1,098$882$519
20 years$1,924$1,556$1,248$995$788$448
21 years$1,813$1,449$1,148$903$705$387
22 years$1,712$1,353$1,058$821$632$335
23 years$1,620$1,265$977$748$567$290
24 years$1,536$1,185$904$682$510$251
25 years$1,459$1,112$837$623$459$218
26 years$1,388$1,045$776$569$413$189
27 years$1,322$984$721$521$373$164
28 years$1,261$927$670$477$336$143
29 years$1,205$875$624$438$304$124
30 years$1,152$826$581$402$274$108
31 years$1,103$781$541$369$248$94
32 years$1,057$739$505$339$224$82
33 years$1,014$700$472$312$203$71
34 years$973$663$441$287$184$62
35 years$935$629$412$264$167$54
36 years$899$597$385$243$151$47
37 years$865$567$361$224$137$41
38 years$833$539$338$207$124$36
39 years$803$512$317$191$112$31
40 years$774$487$297$176$102$27
41 years$747$464$278$162$93$24
42 years$721$442$261$150$84$21
43 years$696$421$245$138$76$18
44 years$672$401$230$128$69$16
45 years$650$383$216$118$63$14
46 years$629$365$203$109$57$12
47 years$608$348$190$101$52$10
48 years$589$333$179$93$47$9
49 years$570$318$168$86$43$8
50 years$553$303$158$79$39$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $566,000, adding $5,937 every year, while hoping to spend $32,888 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: 45/31/24 Blend
62$566,000$566,000$566,000$566,000
63$629,856$599,858$591,085$653,603
64$659,109$594,258$575,894$665,363
65$690,243$587,282$559,091$674,442
66$723,416$578,827$540,589$683,632
67$758,800$568,785$520,294$692,961
68$796,583$557,041$498,110$702,459
69$836,972$543,474$473,934$712,166
70$880,194$527,955$447,662$722,126
71$926,497$510,348$419,181$732,389
72$976,153$490,508$388,377$743,016
73$1,029,461$468,284$355,128$754,075
74$1,086,749$443,513$319,309$765,645
75$1,148,378$416,026$280,786$777,817
76$1,214,743$385,641$239,422$790,694
77$1,286,278$352,168$195,074$804,393
78$1,363,459$315,406$147,590$819,049
79$1,446,812$275,140$96,814$834,812
80$1,536,911$231,146$42,581$851,856
81$1,634,389$183,186$0$870,373
82$1,739,944$131,009$0$894,500
83$1,854,338$74,348$0$932,458
84$1,978,413$12,924$0$973,657
85$2,113,095$0$0$1,018,459
86$2,259,400$0$0$1,085,537
87$2,418,447$0$0$1,163,309
88$2,591,468$0$0$1,247,976
89$2,779,816$0$0$1,340,209
90$2,984,983$0$0$1,440,744
91$3,208,607$0$0$1,550,395
92$3,452,495$0$0$1,670,056
93$3,718,633$0$0$1,800,709
94$4,009,207$0$0$1,943,439
95$4,326,625$0$0$2,099,437
96$4,673,537$0$0$2,270,018
97$5,052,859$0$0$2,456,625
98$5,467,806$0$0$2,660,850
99$5,921,912$0$0$2,884,447
100$6,419,074$0$0$3,129,344