Can I retire at age 63 with 558,000?

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 $558,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19%
1 years$46,079$45,669$45,268$44,877$44,496$42,883
2 years$22,811$22,387$21,975$21,576$21,188$19,581
3 years$15,057$14,630$14,219$13,824$13,443$11,892
4 years$11,180$10,755$10,348$9,959$9,588$8,104
5 years$8,854$8,432$8,030$7,650$7,288$5,877
6 years$7,305$6,885$6,490$6,117$5,767$4,429
7 years$6,198$5,782$5,393$5,030$4,690$3,424
8 years$5,369$4,956$4,574$4,219$3,891$2,697
9 years$4,724$4,315$3,939$3,594$3,277$2,152
10 years$4,208$3,804$3,434$3,098$2,792$1,736
11 years$3,787$3,386$3,024$2,696$2,401$1,410
12 years$3,436$3,039$2,683$2,365$2,081$1,153
13 years$3,139$2,747$2,397$2,088$1,814$948
14 years$2,885$2,497$2,154$1,853$1,591$782
15 years$2,665$2,281$1,945$1,653$1,400$647
16 years$2,472$2,093$1,763$1,480$1,238$537
17 years$2,303$1,927$1,605$1,330$1,097$447
18 years$2,152$1,781$1,465$1,198$976$372
19 years$2,017$1,650$1,341$1,083$870$310
20 years$1,896$1,534$1,231$981$777$259
21 years$1,787$1,429$1,132$890$695$217
22 years$1,688$1,333$1,043$809$623$181
23 years$1,597$1,247$963$737$559$152
24 years$1,515$1,169$891$672$503$127
25 years$1,439$1,097$825$614$452$107
26 years$1,369$1,031$765$561$408$89
27 years$1,304$970$711$514$367$75
28 years$1,244$914$661$471$332$63
29 years$1,188$862$615$432$299$53
30 years$1,136$814$573$396$271$44
31 years$1,087$770$534$364$245$37
32 years$1,042$728$498$334$221$31
33 years$999$690$465$307$200$26
34 years$959$654$435$283$181$22
35 years$922$620$406$260$164$19
36 years$886$589$380$240$149$16
37 years$853$559$356$221$135$13
38 years$821$531$333$204$122$11
39 years$791$505$312$188$111$9
40 years$763$481$293$173$101$8
41 years$736$457$274$160$91$7
42 years$710$436$257$148$83$5
43 years$686$415$241$136$75$5
44 years$663$396$227$126$68$4
45 years$641$377$213$116$62$3
46 years$620$360$200$107$56$3
47 years$600$344$188$99$51$2
48 years$581$328$176$92$46$2
49 years$562$313$166$85$42$2
50 years$545$299$156$78$38$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $558,000, adding $2,166 every year, while hoping to spend $30,830 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: 43/44/13 Blend
62$558,000$558,000$558,000$558,000
63$617,150$587,576$578,927$641,270
64$647,297$583,565$565,518$654,347
65$679,485$578,323$550,627$665,252
66$713,890$571,759$534,171$676,389
67$750,706$563,774$516,064$687,793
68$790,142$554,263$496,217$699,503
69$832,431$543,117$474,535$711,566
70$877,827$530,218$450,920$724,035
71$926,609$515,442$425,270$736,971
72$979,083$498,658$397,476$750,445
73$1,035,585$479,728$367,427$764,537
74$1,096,484$458,504$335,005$779,338
75$1,162,186$434,831$300,088$794,952
76$1,233,136$408,545$262,548$811,497
77$1,309,824$379,471$222,251$829,108
78$1,392,787$347,427$179,058$847,935
79$1,482,618$312,217$132,823$868,150
80$1,579,966$273,637$83,393$889,946
81$1,685,546$231,469$30,611$913,540
82$1,800,145$185,484$0$939,177
83$1,924,627$135,440$0$970,699
84$2,059,944$81,081$0$1,009,610
85$2,207,142$22,137$0$1,052,031
86$2,367,372$0$0$1,098,375
87$2,541,901$0$0$1,169,284
88$2,732,123$0$0$1,258,313
89$2,939,573$0$0$1,355,471
90$3,165,939$0$0$1,461,556
91$3,413,080$0$0$1,577,449
92$3,683,042$0$0$1,704,117
93$3,978,078$0$0$1,842,627
94$4,300,668$0$0$1,994,153
95$4,653,542$0$0$2,159,987
96$5,039,706$0$0$2,341,553
97$5,462,472$0$0$2,540,418
98$5,925,484$0$0$2,758,309
99$6,432,757$0$0$2,997,125
100$6,988,713$0$0$3,258,960