Can I retire at age 63 with 602,000?

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 $602,000?

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$49,713$49,270$48,838$48,416$48,004$47,267
2 years$24,610$24,152$23,708$23,277$22,859$22,119
3 years$16,244$15,784$15,340$14,914$14,503$13,782
4 years$12,061$11,603$11,164$10,745$10,344$9,647
5 years$9,553$9,097$8,664$8,253$7,863$7,193
6 years$7,881$7,428$7,002$6,600$6,222$5,580
7 years$6,687$6,238$5,818$5,426$5,060$4,446
8 years$5,792$5,347$4,934$4,552$4,198$3,611
9 years$5,096$4,656$4,250$3,877$3,535$2,976
10 years$4,540$4,104$3,705$3,342$3,012$2,480
11 years$4,085$3,653$3,262$2,909$2,590$2,085
12 years$3,707$3,279$2,895$2,551$2,245$1,765
13 years$3,386$2,963$2,586$2,252$1,958$1,503
14 years$3,112$2,694$2,324$1,999$1,716$1,286
15 years$2,875$2,461$2,098$1,783$1,511$1,105
16 years$2,667$2,258$1,902$1,597$1,335$952
17 years$2,484$2,079$1,731$1,435$1,184$823
18 years$2,322$1,921$1,580$1,293$1,053$713
19 years$2,177$1,781$1,447$1,168$938$619
20 years$2,046$1,655$1,328$1,058$838$538
21 years$1,928$1,541$1,221$960$750$468
22 years$1,821$1,439$1,125$873$672$408
23 years$1,723$1,346$1,039$795$604$357
24 years$1,634$1,261$961$725$542$311
25 years$1,552$1,183$890$662$488$272
26 years$1,476$1,112$826$606$440$238
27 years$1,407$1,046$767$554$396$209
28 years$1,342$986$713$508$358$183
29 years$1,282$930$663$466$323$160
30 years$1,225$878$618$427$292$141
31 years$1,173$830$576$393$264$123
32 years$1,124$786$537$361$239$108
33 years$1,078$744$502$332$216$95
34 years$1,035$705$469$305$196$83
35 years$994$669$438$281$177$73
36 years$956$635$410$259$160$64
37 years$920$603$384$238$145$56
38 years$886$573$359$220$132$50
39 years$854$545$337$203$120$44
40 years$823$518$316$187$108$38
41 years$794$494$296$172$98$34
42 years$766$470$278$159$89$30
43 years$740$448$260$147$81$26
44 years$715$427$244$136$74$23
45 years$691$407$230$125$67$20
46 years$669$388$216$116$61$18
47 years$647$371$203$107$55$16
48 years$626$354$190$99$50$14
49 years$607$338$179$91$45$12
50 years$588$323$168$84$41$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $602,000, adding $6,501 every year, while hoping to spend $38,075 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: 51/35/14 Blend
62$602,000$602,000$602,000$602,000
63$670,110$638,204$628,873$701,428
64$697,949$628,964$609,429$714,356
65$727,353$617,996$588,057$723,856
66$758,439$605,174$564,653$733,331
67$791,338$590,366$539,107$742,788
68$826,192$573,431$511,305$752,240
69$863,157$554,222$481,127$761,702
70$902,402$532,582$448,447$771,195
71$944,112$508,345$413,136$780,743
72$988,492$481,334$375,056$790,376
73$1,035,763$451,364$334,066$800,129
74$1,086,169$418,239$290,015$810,047
75$1,139,976$381,750$242,748$820,181
76$1,197,476$341,679$192,103$830,589
77$1,258,990$297,792$137,909$841,344
78$1,324,868$249,845$79,991$852,526
79$1,395,496$197,579$18,162$864,231
80$1,471,297$140,720$0$876,566
81$1,552,732$78,979$0$896,802
82$1,640,312$12,050$0$921,298
83$1,734,596$0$0$947,533
84$1,836,195$0$0$998,986
85$1,945,785$0$0$1,059,538
86$2,064,105$0$0$1,124,965
87$2,191,970$0$0$1,195,721
88$2,330,272$0$0$1,272,309
89$2,479,995$0$0$1,355,280
90$2,642,219$0$0$1,445,239
91$2,818,131$0$0$1,542,854
92$3,009,039$0$0$1,648,856
93$3,216,377$0$0$1,764,053
94$3,441,728$0$0$1,889,330
95$3,686,828$0$0$2,025,665
96$3,953,591$0$0$2,174,129
97$4,244,121$0$0$2,335,905
98$4,560,735$0$0$2,512,293
99$4,905,979$0$0$2,704,723
100$5,282,660$0$0$2,914,770