Can I retire at age 63 with 608,000?

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 $608,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$50,208$49,761$49,325$48,899$48,483$47,817
2 years$24,855$24,393$23,944$23,509$23,087$22,418
3 years$16,406$15,941$15,493$15,062$14,647$13,995
4 years$12,182$11,718$11,275$10,852$10,447$9,817
5 years$9,648$9,187$8,750$8,335$7,941$7,335
6 years$7,959$7,502$7,071$6,666$6,284$5,702
7 years$6,754$6,300$5,876$5,480$5,110$4,553
8 years$5,850$5,400$4,984$4,597$4,240$3,707
9 years$5,147$4,702$4,292$3,916$3,570$3,063
10 years$4,585$4,145$3,742$3,375$3,042$2,558
11 years$4,126$3,690$3,295$2,938$2,616$2,156
12 years$3,743$3,312$2,924$2,577$2,267$1,830
13 years$3,420$2,993$2,612$2,275$1,977$1,563
14 years$3,143$2,720$2,347$2,019$1,733$1,341
15 years$2,903$2,485$2,119$1,801$1,526$1,155
16 years$2,694$2,280$1,921$1,613$1,349$998
17 years$2,509$2,100$1,748$1,449$1,196$865
18 years$2,345$1,940$1,596$1,306$1,063$751
19 years$2,198$1,798$1,461$1,180$948$654
20 years$2,066$1,671$1,341$1,069$846$570
21 years$1,947$1,557$1,233$970$758$498
22 years$1,839$1,453$1,137$882$679$436
23 years$1,741$1,359$1,050$803$610$381
24 years$1,650$1,273$971$732$548$334
25 years$1,568$1,195$899$669$493$293
26 years$1,491$1,123$834$612$444$257
27 years$1,421$1,057$774$560$400$226
28 years$1,355$996$720$513$361$199
29 years$1,294$939$670$470$326$175
30 years$1,238$887$624$432$295$154
31 years$1,185$839$582$396$266$135
32 years$1,135$794$543$364$241$119
33 years$1,089$752$507$335$218$105
34 years$1,045$712$473$308$198$92
35 years$1,004$676$443$284$179$81
36 years$966$641$414$261$162$72
37 years$929$609$388$241$147$63
38 years$895$579$363$222$133$56
39 years$862$550$340$205$121$49
40 years$831$524$319$189$110$43
41 years$802$498$299$174$99$38
42 years$774$475$280$161$90$34
43 years$748$452$263$148$82$30
44 years$722$431$247$137$74$26
45 years$698$411$232$127$67$23
46 years$675$392$218$117$61$20
47 years$654$374$205$108$56$18
48 years$633$357$192$100$50$16
49 years$613$341$181$92$46$14
50 years$594$326$170$85$42$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $608,000, adding $3,507 every year, while hoping to spend $36,759 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: 74/14/12 Blend
62$608,000$608,000$608,000$608,000
63$673,633$641,409$631,985$721,598
64$703,233$633,727$614,046$746,073
65$734,619$624,437$594,273$767,958
66$767,936$613,420$572,567$790,927
67$803,341$600,552$548,823$815,078
68$841,005$585,702$522,931$840,516
69$881,115$568,730$494,778$867,362
70$923,878$549,487$464,242$895,746
71$969,520$527,818$431,200$925,813
72$1,018,285$503,556$395,520$957,725
73$1,070,446$476,526$357,066$991,659
74$1,126,299$446,543$315,695$1,027,812
75$1,186,169$413,411$271,258$1,066,403
76$1,250,412$376,922$223,599$1,107,672
77$1,319,421$336,858$172,557$1,151,888
78$1,393,625$292,987$117,960$1,199,345
79$1,473,496$245,064$59,633$1,250,371
80$1,559,552$192,832$0$1,305,327
81$1,652,362$136,017$0$1,364,948
82$1,752,551$74,330$0$1,437,513
83$1,860,807$7,467$0$1,515,892
84$1,977,884$0$0$1,600,656
85$2,104,612$0$0$1,702,427
86$2,241,903$0$0$1,813,949
87$2,390,760$0$0$1,934,889
88$2,552,286$0$0$2,066,147
89$2,727,695$0$0$2,208,711
90$2,918,320$0$0$2,363,668
91$3,125,630$0$0$2,532,216
92$3,351,239$0$0$2,715,670
93$3,596,924$0$0$2,915,480
94$3,864,641$0$0$3,133,238
95$4,156,540$0$0$3,370,700
96$4,474,992$0$0$3,629,796
97$4,822,601$0$0$3,912,652
98$5,202,239$0$0$4,221,606
99$5,617,062$0$0$4,559,234
100$6,070,551$0$0$4,928,371