Can I retire at age 63 with 606,000?

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 $606,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.1%
1 years$50,043$49,597$49,162$48,738$48,323$47,503
2 years$24,774$24,312$23,865$23,432$23,011$22,187
3 years$16,352$15,888$15,442$15,013$14,599$13,798
4 years$12,142$11,680$11,238$10,816$10,412$9,639
5 years$9,616$9,157$8,721$8,308$7,915$7,172
6 years$7,933$7,477$7,048$6,644$6,263$5,551
7 years$6,731$6,279$5,857$5,462$5,094$4,413
8 years$5,830$5,383$4,967$4,582$4,226$3,577
9 years$5,130$4,687$4,278$3,903$3,559$2,941
10 years$4,570$4,131$3,730$3,364$3,032$2,445
11 years$4,112$3,678$3,284$2,928$2,608$2,050
12 years$3,731$3,301$2,914$2,568$2,260$1,731
13 years$3,409$2,983$2,604$2,267$1,971$1,470
14 years$3,133$2,711$2,339$2,013$1,727$1,255
15 years$2,894$2,477$2,112$1,795$1,521$1,075
16 years$2,685$2,273$1,915$1,607$1,344$924
17 years$2,501$2,093$1,743$1,444$1,192$796
18 years$2,337$1,934$1,591$1,301$1,060$687
19 years$2,191$1,792$1,456$1,176$945$595
20 years$2,060$1,666$1,336$1,065$844$516
21 years$1,941$1,551$1,229$967$755$448
22 years$1,833$1,448$1,133$879$677$389
23 years$1,735$1,354$1,046$800$608$339
24 years$1,645$1,269$967$730$546$295
25 years$1,562$1,191$896$667$491$257
26 years$1,486$1,119$831$610$443$224
27 years$1,416$1,053$772$558$399$196
28 years$1,351$993$717$511$360$171
29 years$1,290$936$668$469$325$149
30 years$1,234$884$622$430$294$131
31 years$1,181$836$580$395$266$114
32 years$1,132$791$541$363$240$100
33 years$1,085$749$505$334$217$87
34 years$1,042$710$472$307$197$76
35 years$1,001$673$441$283$178$67
36 years$962$639$413$260$162$59
37 years$926$607$386$240$146$51
38 years$892$577$362$221$133$45
39 years$859$549$339$204$120$39
40 years$828$522$318$188$109$34
41 years$799$497$298$174$99$30
42 years$772$473$279$160$90$26
43 years$745$451$262$148$82$23
44 years$720$430$246$137$74$20
45 years$696$410$231$126$67$18
46 years$673$391$217$116$61$16
47 years$651$373$204$108$55$14
48 years$631$356$192$99$50$12
49 years$611$340$180$92$46$10
50 years$592$325$169$85$42$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $606,000, adding $6,562 every year, while hoping to spend $40,999 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: 40/34/26 Blend
62$606,000$606,000$606,000$606,000
63$674,581$642,463$633,070$696,160
64$699,765$630,321$610,655$700,242
65$726,145$616,210$586,115$700,334
66$753,797$599,990$559,336$699,637
67$782,808$581,513$530,197$698,102
68$813,271$560,623$498,575$695,681
69$845,284$537,154$464,337$692,325
70$878,959$510,930$427,348$687,983
71$914,413$481,766$387,464$682,602
72$951,776$449,465$344,538$676,129
73$991,189$413,821$298,412$668,512
74$1,032,806$374,614$248,924$659,695
75$1,076,794$331,612$195,905$649,625
76$1,123,336$284,570$139,176$638,247
77$1,172,632$233,229$78,554$625,507
78$1,224,899$177,316$13,844$611,353
79$1,280,376$116,542$0$595,731
80$1,339,324$50,602$0$593,909
81$1,402,027$0$0$595,616
82$1,468,798$0$0$604,815
83$1,539,979$0$0$634,849
84$1,615,943$0$0$666,949
85$1,697,100$0$0$701,294
86$1,783,899$0$0$738,081
87$1,876,833$0$0$777,526
88$1,976,443$0$0$819,866
89$2,083,320$0$0$865,360
90$2,198,114$0$0$914,293
91$2,321,540$0$0$966,978
92$2,454,381$0$0$1,023,759
93$2,597,498$0$0$1,085,013
94$2,751,834$0$0$1,151,156
95$2,918,428$0$0$1,222,642
96$3,098,421$0$0$1,299,974
97$3,293,066$0$0$1,383,700
98$3,503,741$0$0$1,474,427
99$3,731,961$0$0$1,572,821
100$3,979,390$0$0$1,679,613