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%14.5%
1 years$45,418$45,014$44,619$44,234$43,858$43,043
2 years$22,484$22,066$21,660$21,266$20,885$20,067
3 years$14,841$14,420$14,015$13,626$13,250$12,454
4 years$11,020$10,600$10,200$9,816$9,450$8,683
5 years$8,728$8,311$7,915$7,540$7,184$6,447
6 years$7,200$6,786$6,397$6,030$5,684$4,980
7 years$6,109$5,699$5,316$4,957$4,623$3,950
8 years$5,292$4,885$4,508$4,159$3,835$3,194
9 years$4,656$4,254$3,883$3,542$3,230$2,619
10 years$4,148$3,749$3,385$3,053$2,752$2,172
11 years$3,732$3,338$2,980$2,657$2,367$1,817
12 years$3,386$2,996$2,645$2,331$2,051$1,531
13 years$3,094$2,707$2,363$2,058$1,788$1,296
14 years$2,843$2,461$2,123$1,827$1,568$1,103
15 years$2,626$2,248$1,917$1,629$1,380$942
16 years$2,437$2,063$1,738$1,459$1,220$808
17 years$2,270$1,900$1,582$1,311$1,082$694
18 years$2,121$1,755$1,444$1,181$962$598
19 years$1,989$1,627$1,322$1,067$857$516
20 years$1,869$1,512$1,213$967$766$446
21 years$1,762$1,408$1,116$877$685$386
22 years$1,664$1,314$1,028$798$614$334
23 years$1,575$1,229$949$726$551$290
24 years$1,493$1,152$878$663$496$252
25 years$1,418$1,081$813$605$446$219
26 years$1,349$1,016$754$553$402$190
27 years$1,285$956$700$506$362$166
28 years$1,226$901$651$464$327$144
29 years$1,171$850$606$425$295$125
30 years$1,120$803$564$390$267$109
31 years$1,072$759$526$359$241$95
32 years$1,027$718$491$330$218$83
33 years$985$680$458$303$197$72
34 years$946$644$428$279$179$63
35 years$908$611$400$257$162$55
36 years$874$580$375$236$147$48
37 years$841$551$351$218$133$42
38 years$809$524$328$201$120$37
39 years$780$498$308$185$109$32
40 years$752$474$288$171$99$28
41 years$725$451$270$158$90$24
42 years$700$429$254$145$82$21
43 years$676$409$238$134$74$19
44 years$653$390$223$124$67$16
45 years$632$372$210$114$61$14
46 years$611$355$197$106$55$12
47 years$591$339$185$98$50$11
48 years$572$323$174$90$46$9
49 years$554$309$163$83$41$8
50 years$537$295$154$77$38$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $550,000, adding $2,292 every year, while hoping to spend $25,818 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: 44/42/14 Blend
62$550,000$550,000$550,000$550,000
63$608,464$579,314$570,789$632,688
64$643,057$580,230$562,440$650,750
65$680,314$580,326$552,947$667,544
66$720,478$579,534$542,242$685,184
67$763,818$577,783$530,259$703,758
68$810,629$574,996$516,924$723,365
69$861,235$571,092$502,163$744,116
70$915,992$565,988$485,897$766,135
71$975,293$559,590$468,044$789,560
72$1,039,567$551,804$448,518$814,545
73$1,109,288$542,528$427,228$841,262
74$1,184,977$531,653$404,081$869,901
75$1,267,205$519,065$378,979$900,677
76$1,356,605$504,644$351,819$933,827
77$1,453,867$488,260$322,494$969,614
78$1,559,755$469,778$290,891$1,008,333
79$1,675,108$449,055$256,894$1,050,310
80$1,800,849$425,939$220,380$1,095,908
81$1,937,994$400,269$181,222$1,145,531
82$2,087,663$371,875$139,285$1,199,627
83$2,251,085$340,577$94,432$1,258,694
84$2,429,616$306,186$46,516$1,323,285
85$2,624,748$268,501$0$1,394,012
86$2,838,125$227,309$0$1,472,247
87$3,071,553$182,387$0$1,565,512
88$3,327,026$133,498$0$1,667,715
89$3,606,735$80,392$0$1,779,807
90$3,913,096$22,805$0$1,902,843
91$4,248,767$0$0$2,037,990
92$4,616,678$0$0$2,204,813
93$5,020,053$0$0$2,399,340
94$5,462,446$0$0$2,612,751
95$5,947,768$0$0$2,846,944
96$6,480,331$0$0$3,104,007
97$7,064,880$0$0$3,386,241
98$7,706,646$0$0$3,696,180
99$8,411,387$0$0$4,036,615
100$9,185,450$0$0$4,410,623