Can I retire at age 63 with 623,000?

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 $623,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$51,447$50,988$50,541$50,105$49,679$48,756
2 years$25,469$24,994$24,535$24,089$23,657$22,730
3 years$16,810$16,334$15,876$15,434$15,009$14,107
4 years$12,482$12,007$11,553$11,119$10,704$9,835
5 years$9,886$9,414$8,966$8,541$8,137$7,303
6 years$8,156$7,687$7,246$6,830$6,439$5,640
7 years$6,920$6,456$6,021$5,615$5,236$4,474
8 years$5,994$5,534$5,106$4,711$4,344$3,618
9 years$5,274$4,818$4,398$4,012$3,658$2,967
10 years$4,698$4,247$3,834$3,459$3,117$2,461
11 years$4,228$3,781$3,376$3,010$2,681$2,058
12 years$3,836$3,393$2,996$2,640$2,323$1,734
13 years$3,504$3,067$2,677$2,331$2,026$1,469
14 years$3,221$2,787$2,405$2,069$1,776$1,250
15 years$2,975$2,546$2,171$1,845$1,564$1,068
16 years$2,760$2,336$1,969$1,652$1,382$915
17 years$2,571$2,152$1,791$1,485$1,225$786
18 years$2,403$1,988$1,635$1,338$1,089$677
19 years$2,252$1,843$1,497$1,209$971$584
20 years$2,117$1,712$1,374$1,095$867$505
21 years$1,995$1,595$1,264$994$776$437
22 years$1,885$1,489$1,165$903$696$379
23 years$1,784$1,392$1,075$823$625$329
24 years$1,691$1,305$995$750$561$285
25 years$1,606$1,224$921$685$505$248
26 years$1,528$1,151$854$627$455$216
27 years$1,456$1,083$793$574$410$188
28 years$1,389$1,020$738$526$370$163
29 years$1,326$963$686$482$334$142
30 years$1,268$909$639$442$302$124
31 years$1,214$859$596$406$273$108
32 years$1,163$813$556$373$247$94
33 years$1,116$770$519$343$224$82
34 years$1,071$730$485$316$202$72
35 years$1,029$692$454$291$183$62
36 years$989$657$424$268$166$54
37 years$952$624$397$247$151$47
38 years$917$593$372$227$136$41
39 years$883$564$348$210$124$36
40 years$852$537$327$193$112$32
41 years$822$511$306$178$102$28
42 years$793$486$287$165$92$24
43 years$766$463$270$152$84$21
44 years$740$442$253$140$76$18
45 years$716$421$238$130$69$16
46 years$692$402$223$120$63$14
47 years$670$384$210$111$57$12
48 years$648$366$197$102$52$11
49 years$628$350$185$94$47$9
50 years$608$334$174$87$43$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $623,000, adding $3,604 every year, while hoping to spend $46,148 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: 66/25/9 Blend
62$623,000$623,000$623,000$623,000
63$690,264$657,245$647,588$734,333
64$711,569$640,348$620,181$747,211
65$733,502$621,078$590,309$755,458
66$756,076$599,267$557,842$763,269
67$779,306$574,742$522,640$770,595
68$803,209$547,319$484,562$777,387
69$827,799$516,800$443,458$783,589
70$853,091$482,980$399,170$789,145
71$879,100$445,639$351,536$793,992
72$905,840$404,547$300,384$798,065
73$933,325$359,460$245,537$801,294
74$961,570$310,118$186,807$803,603
75$990,585$256,250$124,001$804,912
76$1,020,385$197,566$56,915$805,136
77$1,050,981$133,763$0$804,184
78$1,082,383$64,519$0$803,368
79$1,114,599$0$0$807,100
80$1,147,640$0$0$812,710
81$1,181,509$0$0$836,651
82$1,216,213$0$0$861,178
83$1,251,754$0$0$886,290
84$1,288,132$0$0$911,988
85$1,325,344$0$0$938,269
86$1,363,386$0$0$965,129
87$1,402,248$0$0$992,559
88$1,441,917$0$0$1,020,551
89$1,482,376$0$0$1,049,090
90$1,523,604$0$0$1,078,160
91$1,565,573$0$0$1,107,740
92$1,608,250$0$0$1,137,806
93$1,651,594$0$0$1,168,325
94$1,695,557$0$0$1,199,264
95$1,740,082$0$0$1,230,578
96$1,785,104$0$0$1,262,220
97$1,830,545$0$0$1,294,133
98$1,876,317$0$0$1,326,250
99$1,922,318$0$0$1,358,497
100$1,968,431$0$0$1,390,788