Can I retire at age 63 with 616,000?

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 $616,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$50,869$50,416$49,974$49,542$49,121$48,527
2 years$25,183$24,714$24,259$23,818$23,391$22,793
3 years$16,622$16,151$15,697$15,261$14,840$14,257
4 years$12,342$11,872$11,424$10,994$10,584$10,021
5 years$9,775$9,308$8,865$8,445$8,046$7,503
6 years$8,064$7,601$7,164$6,753$6,366$5,845
7 years$6,842$6,383$5,954$5,552$5,178$4,678
8 years$5,927$5,471$5,049$4,658$4,295$3,818
9 years$5,215$4,764$4,349$3,967$3,617$3,161
10 years$4,646$4,199$3,791$3,420$3,082$2,647
11 years$4,180$3,738$3,338$2,976$2,651$2,237
12 years$3,793$3,355$2,962$2,611$2,297$1,903
13 years$3,465$3,032$2,647$2,305$2,003$1,629
14 years$3,184$2,756$2,378$2,046$1,756$1,402
15 years$2,942$2,518$2,147$1,825$1,546$1,210
16 years$2,729$2,310$1,947$1,634$1,366$1,049
17 years$2,542$2,127$1,771$1,468$1,212$912
18 years$2,376$1,966$1,617$1,323$1,077$794
19 years$2,227$1,822$1,480$1,195$960$693
20 years$2,094$1,693$1,359$1,083$858$607
21 years$1,973$1,577$1,250$983$767$531
22 years$1,863$1,472$1,152$893$688$466
23 years$1,764$1,377$1,063$814$618$409
24 years$1,672$1,290$983$742$555$360
25 years$1,588$1,211$911$678$499$317
26 years$1,511$1,138$845$620$450$279
27 years$1,439$1,071$784$567$406$246
28 years$1,373$1,009$729$520$366$217
29 years$1,311$952$679$477$330$191
30 years$1,254$899$632$437$299$169
31 years$1,200$850$589$402$270$149
32 years$1,150$804$550$369$244$132
33 years$1,103$761$513$339$221$116
34 years$1,059$722$480$312$200$103
35 years$1,017$685$448$288$181$91
36 years$978$650$420$265$164$80
37 years$941$617$393$244$149$71
38 years$907$586$368$225$135$63
39 years$873$558$345$207$122$56
40 years$842$531$323$191$111$49
41 years$812$505$303$176$101$44
42 years$784$481$284$163$91$39
43 years$757$458$267$150$83$34
44 years$732$437$250$139$75$30
45 years$708$417$235$128$68$27
46 years$684$397$221$118$62$24
47 years$662$379$207$109$56$21
48 years$641$362$195$101$51$19
49 years$621$346$183$93$46$16
50 years$601$330$172$86$42$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $616,000, adding $6,784 every year, while hoping to spend $41,374 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: 86/7/7 Blend
62$616,000$616,000$616,000$616,000
63$685,830$653,182$643,634$743,847
64$711,763$641,166$621,174$770,687
65$738,954$627,175$596,575$793,780
66$767,489$611,068$569,721$817,831
67$797,459$592,696$540,493$842,908
68$828,963$571,902$508,764$869,086
69$862,112$548,520$474,401$896,445
70$897,022$522,372$437,269$925,076
71$933,823$493,273$397,222$955,075
72$972,655$461,025$354,110$986,550
73$1,013,670$425,420$307,778$1,019,621
74$1,057,036$386,237$258,060$1,054,417
75$1,102,934$343,243$204,785$1,091,081
76$1,151,563$296,192$147,775$1,129,771
77$1,203,141$244,823$86,844$1,170,661
78$1,257,904$188,862$21,796$1,213,940
79$1,316,113$128,019$0$1,259,819
80$1,378,050$61,986$0$1,312,087
81$1,444,028$0$0$1,369,410
82$1,514,386$0$0$1,431,192
83$1,589,497$0$0$1,502,249
84$1,669,770$0$0$1,578,195
85$1,755,652$0$0$1,659,452
86$1,847,634$0$0$1,746,486
87$1,946,255$0$0$1,839,808
88$2,052,105$0$0$1,939,977
89$2,165,834$0$0$2,047,606
90$2,288,151$0$0$2,163,372
91$2,419,839$0$0$2,288,013
92$2,561,756$0$0$2,422,343
93$2,714,843$0$0$2,567,254
94$2,880,137$0$0$2,723,728
95$3,058,775$0$0$2,892,843
96$3,252,007$0$0$3,075,783
97$3,461,207$0$0$3,273,851
98$3,687,887$0$0$3,488,478
99$3,933,708$0$0$3,721,240
100$4,200,497$0$0$3,973,866