Can I retire at age 63 with 516,000?

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 $516,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$42,611$42,231$41,861$41,499$41,147$40,515
2 years$21,094$20,702$20,321$19,952$19,594$18,959
3 years$13,923$13,529$13,149$12,783$12,431$11,813
4 years$10,338$9,945$9,569$9,210$8,866$8,269
5 years$8,188$7,797$7,426$7,074$6,740$6,166
6 years$6,755$6,367$6,001$5,657$5,333$4,783
7 years$5,732$5,347$4,987$4,651$4,337$3,811
8 years$4,965$4,583$4,229$3,902$3,598$3,096
9 years$4,368$3,991$3,643$3,323$3,030$2,551
10 years$3,891$3,517$3,176$2,865$2,582$2,126
11 years$3,502$3,131$2,796$2,493$2,220$1,787
12 years$3,177$2,811$2,481$2,187$1,924$1,513
13 years$2,903$2,540$2,217$1,931$1,678$1,289
14 years$2,668$2,309$1,992$1,714$1,471$1,102
15 years$2,464$2,109$1,798$1,528$1,295$947
16 years$2,286$1,935$1,631$1,369$1,145$816
17 years$2,129$1,782$1,484$1,230$1,015$705
18 years$1,990$1,647$1,354$1,108$902$611
19 years$1,866$1,526$1,240$1,001$804$530
20 years$1,754$1,418$1,138$907$718$461
21 years$1,653$1,321$1,047$823$643$402
22 years$1,561$1,233$965$748$576$350
23 years$1,477$1,153$891$682$517$306
24 years$1,401$1,081$824$622$465$267
25 years$1,330$1,014$763$568$418$233
26 years$1,266$953$708$519$377$204
27 years$1,206$897$657$475$340$179
28 years$1,150$845$611$435$307$157
29 years$1,098$797$568$399$277$137
30 years$1,050$753$529$366$250$120
31 years$1,005$712$494$336$226$106
32 years$963$674$461$309$205$93
33 years$924$638$430$284$185$81
34 years$887$605$402$262$168$71
35 years$852$573$376$241$152$63
36 years$820$544$351$222$138$55
37 years$789$517$329$204$125$48
38 years$759$491$308$188$113$43
39 years$732$467$289$174$102$37
40 years$705$444$270$160$93$33
41 years$681$423$254$148$84$29
42 years$657$403$238$136$77$25
43 years$634$384$223$126$69$22
44 years$613$366$210$116$63$20
45 years$593$349$197$107$57$17
46 years$573$333$185$99$52$15
47 years$555$318$174$92$47$13
48 years$537$303$163$85$43$12
49 years$520$290$153$78$39$10
50 years$504$277$144$72$35$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $516,000, adding $4,237 every year, while hoping to spend $24,769 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: 60/33/7 Blend
62$516,000$516,000$516,000$516,000
63$573,002$545,654$537,656$606,307
64$605,095$546,038$529,314$629,504
65$639,630$545,609$519,862$651,573
66$676,832$544,304$509,237$675,019
67$716,945$542,051$497,372$699,974
68$760,239$538,776$484,199$726,586
69$807,008$534,402$469,645$755,017
70$857,579$528,843$453,635$785,450
71$912,308$522,013$436,087$818,082
72$971,588$513,816$416,921$853,136
73$1,035,851$504,153$396,048$890,857
74$1,105,571$492,920$373,379$931,514
75$1,181,270$480,005$348,819$975,409
76$1,263,523$465,288$322,268$1,022,873
77$1,352,962$448,646$293,623$1,074,273
78$1,450,281$429,947$262,776$1,130,014
79$1,556,245$409,049$229,614$1,190,546
80$1,671,695$385,806$194,019$1,256,366
81$1,797,557$360,060$155,869$1,328,023
82$1,934,851$331,647$115,033$1,406,123
83$2,084,699$300,390$71,380$1,491,340
84$2,248,334$266,105$24,767$1,584,414
85$2,427,116$228,596$0$1,686,167
86$2,622,542$187,658$0$1,799,371
87$2,836,260$143,071$0$1,925,258
88$3,070,082$94,605$0$2,063,096
89$3,326,006$42,016$0$2,214,122
90$3,606,232$0$0$2,379,700
91$3,913,182$0$0$2,566,768
92$4,249,523$0$0$2,788,507
93$4,618,192$0$0$3,031,600
94$5,022,425$0$0$3,298,188
95$5,465,785$0$0$3,590,624
96$5,952,196$0$0$3,911,504
97$6,485,981$0$0$4,263,684
98$7,071,903$0$0$4,650,313
99$7,715,206$0$0$5,074,857
100$8,421,667$0$0$5,541,136