Can I retire at age 63 with 607,000?

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 $607,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$50,125$49,679$49,243$48,818$48,403$47,542
2 years$24,815$24,352$23,905$23,470$23,049$22,185
3 years$16,379$15,915$15,468$15,038$14,623$13,783
4 years$12,162$11,699$11,257$10,834$10,429$9,619
5 years$9,632$9,172$8,736$8,321$7,928$7,150
6 years$7,946$7,490$7,060$6,655$6,273$5,528
7 years$6,742$6,290$5,867$5,471$5,102$4,390
8 years$5,840$5,392$4,975$4,590$4,233$3,554
9 years$5,139$4,694$4,285$3,909$3,564$2,918
10 years$4,578$4,138$3,736$3,370$3,037$2,423
11 years$4,119$3,684$3,289$2,933$2,612$2,029
12 years$3,737$3,306$2,919$2,572$2,263$1,712
13 years$3,414$2,988$2,608$2,271$1,974$1,452
14 years$3,138$2,716$2,343$2,016$1,730$1,237
15 years$2,899$2,481$2,116$1,798$1,523$1,058
16 years$2,689$2,276$1,918$1,610$1,346$908
17 years$2,505$2,096$1,745$1,446$1,194$781
18 years$2,341$1,937$1,593$1,304$1,061$674
19 years$2,195$1,795$1,459$1,178$946$582
20 years$2,063$1,668$1,339$1,067$845$504
21 years$1,944$1,554$1,231$968$756$437
22 years$1,836$1,451$1,135$880$678$379
23 years$1,738$1,357$1,048$802$609$330
24 years$1,648$1,271$969$731$547$287
25 years$1,565$1,193$898$668$492$249
26 years$1,489$1,121$832$611$443$217
27 years$1,418$1,055$773$559$400$189
28 years$1,353$994$719$512$361$165
29 years$1,292$938$669$470$326$144
30 years$1,236$886$623$431$294$126
31 years$1,183$837$581$396$266$110
32 years$1,133$792$542$364$241$96
33 years$1,087$750$506$334$218$84
34 years$1,044$711$473$308$197$73
35 years$1,003$675$442$283$179$64
36 years$964$640$413$261$162$56
37 years$928$608$387$240$147$49
38 years$893$578$362$222$133$43
39 years$861$549$339$204$121$37
40 years$830$523$318$188$109$33
41 years$801$498$298$174$99$28
42 years$773$474$280$160$90$25
43 years$746$452$263$148$82$22
44 years$721$430$247$137$74$19
45 years$697$410$231$126$67$17
46 years$674$392$217$117$61$15
47 years$653$374$204$108$56$13
48 years$632$357$192$100$50$11
49 years$612$341$180$92$46$10
50 years$593$325$170$85$42$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $607,000, adding $3,311 every year, while hoping to spend $32,783 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: 44/43/13 Blend
62$607,000$607,000$607,000$607,000
63$672,329$640,158$630,750$699,260
64$706,026$636,645$616,999$714,859
65$742,061$631,861$601,689$728,194
66$780,638$625,709$584,733$741,926
67$821,981$618,087$566,039$756,105
68$866,336$608,886$545,513$770,787
69$913,970$597,989$523,056$786,040
70$965,180$585,276$498,564$801,935
71$1,020,290$570,616$471,928$818,559
72$1,079,656$553,873$443,034$836,006
73$1,143,670$534,901$411,764$854,385
74$1,212,760$513,547$377,994$873,818
75$1,287,399$489,648$341,594$894,444
76$1,368,106$463,033$302,430$916,419
77$1,455,451$433,520$260,359$939,917
78$1,550,060$400,916$215,235$965,138
79$1,652,624$365,018$166,902$992,302
80$1,763,900$325,612$115,202$1,021,659
81$1,884,721$282,470$59,964$1,053,488
82$2,016,004$235,353$1,014$1,088,103
83$2,158,758$184,007$0$1,125,852
84$2,314,092$128,164$0$1,175,713
85$2,483,227$67,542$0$1,230,248
86$2,667,506$1,841$0$1,289,831
87$2,868,408$0$0$1,355,037
88$3,087,560$0$0$1,459,273
89$3,326,752$0$0$1,574,061
90$3,587,957$0$0$1,699,485
91$3,873,343$0$0$1,836,595
92$4,185,300$0$0$1,986,549
93$4,526,458$0$0$2,150,621
94$4,899,714$0$0$2,330,214
95$5,308,255$0$0$2,526,873
96$5,755,595$0$0$2,742,298
97$6,245,598$0$0$2,978,364
98$6,782,525$0$0$3,237,134
99$7,371,064$0$0$3,520,880
100$8,016,380$0$0$3,832,106