Can I retire at age 63 with 602,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%11.8%
1 years$49,713$49,270$48,838$48,416$48,004$47,642
2 years$24,610$24,152$23,708$23,277$22,859$22,494
3 years$16,244$15,784$15,340$14,914$14,503$14,146
4 years$12,061$11,603$11,164$10,745$10,344$9,998
5 years$9,553$9,097$8,664$8,253$7,863$7,529
6 years$7,881$7,428$7,002$6,600$6,222$5,900
7 years$6,687$6,238$5,818$5,426$5,060$4,751
8 years$5,792$5,347$4,934$4,552$4,198$3,902
9 years$5,096$4,656$4,250$3,877$3,535$3,252
10 years$4,540$4,104$3,705$3,342$3,012$2,741
11 years$4,085$3,653$3,262$2,909$2,590$2,332
12 years$3,707$3,279$2,895$2,551$2,245$1,998
13 years$3,386$2,963$2,586$2,252$1,958$1,723
14 years$3,112$2,694$2,324$1,999$1,716$1,493
15 years$2,875$2,461$2,098$1,783$1,511$1,299
16 years$2,667$2,258$1,902$1,597$1,335$1,134
17 years$2,484$2,079$1,731$1,435$1,184$993
18 years$2,322$1,921$1,580$1,293$1,053$872
19 years$2,177$1,781$1,447$1,168$938$767
20 years$2,046$1,655$1,328$1,058$838$677
21 years$1,928$1,541$1,221$960$750$598
22 years$1,821$1,439$1,125$873$672$529
23 years$1,723$1,346$1,039$795$604$468
24 years$1,634$1,261$961$725$542$415
25 years$1,552$1,183$890$662$488$368
26 years$1,476$1,112$826$606$440$327
27 years$1,407$1,046$767$554$396$291
28 years$1,342$986$713$508$358$259
29 years$1,282$930$663$466$323$230
30 years$1,225$878$618$427$292$205
31 years$1,173$830$576$393$264$183
32 years$1,124$786$537$361$239$163
33 years$1,078$744$502$332$216$145
34 years$1,035$705$469$305$196$130
35 years$994$669$438$281$177$116
36 years$956$635$410$259$160$103
37 years$920$603$384$238$145$92
38 years$886$573$359$220$132$82
39 years$854$545$337$203$120$73
40 years$823$518$316$187$108$66
41 years$794$494$296$172$98$59
42 years$766$470$278$159$89$52
43 years$740$448$260$147$81$47
44 years$715$427$244$136$74$42
45 years$691$407$230$125$67$37
46 years$669$388$216$116$61$33
47 years$647$371$203$107$55$30
48 years$626$354$190$99$50$27
49 years$607$338$179$91$45$24
50 years$588$323$168$84$41$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $602,000, adding $2,925 every year, while hoping to spend $25,152 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: 63/32/5 Blend
62$602,000$602,000$602,000$602,000
63$666,421$634,515$625,184$707,724
64$707,635$638,845$619,366$739,920
65$752,209$642,544$612,511$771,822
66$800,460$645,554$604,556$805,991
67$852,736$647,815$595,437$842,645
68$909,419$649,262$585,088$882,024
69$970,929$649,826$573,438$924,394
70$1,037,729$649,432$560,413$970,045
71$1,110,327$648,004$545,937$1,019,303
72$1,189,283$645,459$529,928$1,072,522
73$1,275,211$641,708$512,303$1,130,097
74$1,368,790$636,659$492,972$1,192,463
75$1,470,765$630,213$471,845$1,260,098
76$1,581,955$622,266$448,824$1,333,533
77$1,703,264$612,706$423,809$1,413,350
78$1,835,685$601,417$396,694$1,500,197
79$1,980,311$588,272$367,370$1,594,783
80$2,138,346$573,142$335,720$1,697,896
81$2,311,117$555,885$301,626$1,810,403
82$2,500,082$536,354$264,962$1,933,259
83$2,706,848$514,394$225,596$2,067,523
84$2,933,185$489,837$183,392$2,214,360
85$3,181,041$462,510$138,206$2,375,056
86$3,452,561$432,227$89,890$2,551,031
87$3,750,108$398,792$38,287$2,743,852
88$4,076,285$361,999$0$2,955,248
89$4,433,957$321,628$0$3,188,023
90$4,826,281$277,448$0$3,445,622
91$5,256,735$229,216$0$3,728,335
92$5,729,147$176,673$0$4,038,732
93$6,247,736$119,546$0$4,379,652
94$6,817,149$57,548$0$4,754,223
95$7,442,505$0$0$5,165,898
96$8,129,442$0$0$5,621,873
97$8,884,173$0$0$6,145,157
98$9,713,540$0$0$6,720,236
99$10,625,083$0$0$7,352,344
100$11,627,107$0$0$8,047,246