Can I retire at age 63 with 620,000?

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 $620,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.8%
1 years$51,199$50,743$50,298$49,864$49,440$48,461
2 years$25,346$24,874$24,417$23,973$23,543$22,561
3 years$16,730$16,255$15,799$15,360$14,936$13,982
4 years$12,422$11,949$11,498$11,066$10,653$9,733
5 years$9,838$9,369$8,923$8,500$8,098$7,216
6 years$8,116$7,650$7,211$6,797$6,408$5,564
7 years$6,887$6,425$5,992$5,588$5,211$4,406
8 years$5,965$5,507$5,082$4,688$4,323$3,556
9 years$5,249$4,795$4,377$3,993$3,641$2,912
10 years$4,676$4,226$3,816$3,442$3,102$2,410
11 years$4,207$3,763$3,360$2,996$2,668$2,012
12 years$3,817$3,377$2,982$2,628$2,312$1,692
13 years$3,488$3,052$2,664$2,320$2,016$1,430
14 years$3,205$2,774$2,393$2,059$1,767$1,215
15 years$2,961$2,534$2,161$1,836$1,556$1,035
16 years$2,747$2,325$1,959$1,644$1,375$885
17 years$2,558$2,141$1,783$1,477$1,219$759
18 years$2,391$1,979$1,627$1,331$1,084$652
19 years$2,242$1,834$1,490$1,203$966$562
20 years$2,107$1,704$1,367$1,090$863$484
21 years$1,986$1,587$1,258$989$772$418
22 years$1,875$1,482$1,159$899$692$362
23 years$1,775$1,386$1,070$819$622$313
24 years$1,683$1,298$990$747$559$271
25 years$1,598$1,218$917$682$503$235
26 years$1,521$1,145$850$624$453$204
27 years$1,449$1,078$790$571$408$177
28 years$1,382$1,016$734$523$368$154
29 years$1,320$958$683$480$333$133
30 years$1,262$905$636$440$301$116
31 years$1,208$855$593$404$272$101
32 years$1,158$809$553$372$246$88
33 years$1,110$766$517$342$222$76
34 years$1,066$726$483$314$201$66
35 years$1,024$689$451$289$182$58
36 years$985$654$422$267$165$50
37 years$948$621$395$246$150$44
38 years$912$590$370$226$136$38
39 years$879$561$347$209$123$33
40 years$848$534$325$192$112$29
41 years$818$508$305$178$101$25
42 years$789$484$286$164$92$22
43 years$762$461$268$151$83$19
44 years$737$440$252$140$76$17
45 years$712$419$236$129$69$14
46 years$689$400$222$119$62$13
47 years$667$382$209$110$57$11
48 years$645$364$196$102$51$10
49 years$625$348$184$94$47$8
50 years$605$332$173$87$42$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $620,000, adding $6,675 every year, while hoping to spend $45,438 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: 57/33/10 Blend
62$620,000$620,000$620,000$620,000
63$690,125$657,265$647,655$727,421
64$712,172$641,126$621,006$737,218
65$734,945$622,672$591,941$742,249
66$758,470$601,744$560,332$746,636
67$782,775$578,169$526,043$750,324
68$807,886$551,768$488,934$753,253
69$833,836$522,350$448,859$755,361
70$860,653$489,712$405,662$756,582
71$888,372$453,640$359,184$756,845
72$917,026$413,908$309,256$756,077
73$946,651$370,278$255,705$754,199
74$977,284$322,496$198,346$751,129
75$1,008,966$270,297$136,989$746,779
76$1,041,737$213,398$71,434$741,058
77$1,075,641$151,501$1,474$733,869
78$1,110,724$84,292$0$725,110
79$1,147,034$11,439$0$722,480
80$1,184,623$0$0$718,735
81$1,223,546$0$0$738,099
82$1,263,857$0$0$762,461
83$1,305,620$0$0$787,704
84$1,348,897$0$0$813,867
85$1,393,756$0$0$840,992
86$1,440,270$0$0$869,123
87$1,488,515$0$0$898,308
88$1,538,574$0$0$928,596
89$1,590,533$0$0$960,041
90$1,644,485$0$0$992,701
91$1,700,529$0$0$1,026,636
92$1,758,772$0$0$1,061,912
93$1,819,326$0$0$1,098,599
94$1,882,313$0$0$1,136,772
95$1,947,863$0$0$1,176,510
96$2,016,116$0$0$1,217,902
97$2,087,223$0$0$1,261,039
98$2,161,344$0$0$1,306,022
99$2,238,655$0$0$1,352,958
100$2,319,342$0$0$1,401,964