Can I retire at age 63 with 289,000?

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 $289,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$23,865$23,653$23,445$23,243$23,045$22,910
2 years$11,815$11,594$11,381$11,174$10,974$10,837
3 years$7,798$7,577$7,364$7,160$6,962$6,829
4 years$5,790$5,570$5,359$5,158$4,966$4,836
5 years$4,586$4,367$4,159$3,962$3,775$3,649
6 years$3,783$3,566$3,361$3,168$2,987$2,866
7 years$3,210$2,995$2,793$2,605$2,429$2,313
8 years$2,781$2,567$2,369$2,185$2,015$1,904
9 years$2,447$2,235$2,040$1,861$1,697$1,590
10 years$2,180$1,970$1,779$1,604$1,446$1,344
11 years$1,961$1,754$1,566$1,396$1,244$1,146
12 years$1,779$1,574$1,390$1,225$1,078$985
13 years$1,626$1,423$1,242$1,081$940$851
14 years$1,494$1,293$1,116$960$824$739
15 years$1,380$1,181$1,007$856$725$645
16 years$1,280$1,084$913$766$641$565
17 years$1,193$998$831$689$568$496
18 years$1,115$922$759$621$505$437
19 years$1,045$855$694$561$450$385
20 years$982$794$637$508$402$341
21 years$926$740$586$461$360$302
22 years$874$691$540$419$323$268
23 years$827$646$499$382$290$238
24 years$784$605$461$348$260$212
25 years$745$568$427$318$234$188
26 years$709$534$396$291$211$168
27 years$675$502$368$266$190$150
28 years$644$473$342$244$172$134
29 years$615$447$318$224$155$119
30 years$588$422$297$205$140$107
31 years$563$399$276$188$127$95
32 years$540$377$258$173$115$85
33 years$518$357$241$159$104$76
34 years$497$339$225$147$94$68
35 years$477$321$210$135$85$61
36 years$459$305$197$124$77$55
37 years$442$289$184$114$70$49
38 years$425$275$173$105$63$44
39 years$410$262$162$97$57$39
40 years$395$249$151$90$52$35
41 years$381$237$142$83$47$32
42 years$368$226$133$76$43$28
43 years$355$215$125$71$39$25
44 years$343$205$117$65$35$23
45 years$332$195$110$60$32$20
46 years$321$186$104$56$29$18
47 years$311$178$97$51$26$16
48 years$301$170$91$47$24$15
49 years$291$162$86$44$22$13
50 years$282$155$81$41$20$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $289,000, adding $5,098 every year, while hoping to spend $28,259 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: 73/10/17 Blend
62$289,000$289,000$289,000$289,000
63$323,737$308,420$303,940$345,740
64$326,690$293,465$284,055$346,058
65$328,998$276,830$262,556$342,473
66$330,565$258,403$239,360$337,808
67$331,283$238,066$214,380$331,949
68$331,035$215,693$187,523$324,773
69$329,690$191,151$158,694$316,142
70$327,102$164,300$127,793$305,908
71$323,108$134,993$94,717$293,907
72$317,531$103,073$59,355$279,959
73$310,171$68,376$21,595$263,868
74$300,808$30,726$0$245,416
75$289,198$0$0$227,760
76$275,073$0$0$212,755
77$258,132$0$0$198,858
78$238,046$0$0$182,422
79$214,449$0$0$163,153
80$186,936$0$0$140,726
81$155,062$0$0$114,780
82$118,332$0$0$84,919
83$76,201$0$0$50,702
84$28,065$0$0$11,645
85$0$0$0$0
86$0$0$0$0
87$0$0$0$0
88$0$0$0$0
89$0$0$0$0
90$0$0$0$0
91$0$0$0$0
92$0$0$0$0
93$0$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