Can I retire at age 63 with 647,000?

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 $647,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$53,429$52,953$52,488$52,035$51,593$50,906
2 years$26,450$25,957$25,480$25,017$24,568$23,877
3 years$17,458$16,963$16,487$16,029$15,587$14,913
4 years$12,963$12,470$11,998$11,548$11,117$10,466
5 years$10,267$9,777$9,311$8,870$8,451$7,824
6 years$8,470$7,983$7,525$7,093$6,687$6,086
7 years$7,187$6,704$6,253$5,832$5,438$4,863
8 years$6,225$5,747$5,303$4,892$4,511$3,961
9 years$5,477$5,004$4,568$4,167$3,799$3,274
10 years$4,879$4,410$3,982$3,592$3,237$2,737
11 years$4,391$3,926$3,506$3,126$2,784$2,308
12 years$3,984$3,524$3,111$2,742$2,413$1,960
13 years$3,639$3,185$2,780$2,421$2,104$1,675
14 years$3,345$2,895$2,498$2,149$1,844$1,438
15 years$3,090$2,645$2,255$1,916$1,624$1,239
16 years$2,866$2,426$2,045$1,716$1,435$1,072
17 years$2,670$2,235$1,860$1,542$1,272$929
18 years$2,495$2,065$1,698$1,389$1,131$808
19 years$2,339$1,914$1,555$1,255$1,008$704
20 years$2,199$1,778$1,427$1,137$901$614
21 years$2,072$1,656$1,312$1,032$806$537
22 years$1,957$1,546$1,210$938$723$470
23 years$1,852$1,446$1,117$855$649$412
24 years$1,756$1,355$1,033$779$583$361
25 years$1,668$1,271$957$712$525$317
26 years$1,587$1,195$887$651$473$279
27 years$1,512$1,125$824$596$426$245
28 years$1,442$1,060$766$546$384$215
29 years$1,377$1,000$713$501$347$190
30 years$1,317$944$664$459$314$167
31 years$1,261$893$619$422$284$147
32 years$1,208$845$577$388$257$130
33 years$1,159$800$539$357$232$114
34 years$1,112$758$504$328$210$101
35 years$1,069$719$471$302$190$89
36 years$1,028$682$441$278$172$78
37 years$989$648$412$256$156$69
38 years$952$616$386$236$142$61
39 years$917$586$362$218$129$54
40 years$885$557$339$201$117$47
41 years$853$530$318$185$106$42
42 years$824$505$298$171$96$37
43 years$796$481$280$158$87$33
44 years$769$459$263$146$79$29
45 years$743$438$247$135$72$25
46 years$719$417$232$124$65$22
47 years$696$398$218$115$59$20
48 years$673$380$205$106$54$18
49 years$652$363$192$98$49$15
50 years$632$347$181$91$44$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $647,000, adding $4,652 every year, while hoping to spend $45,404 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: 31/42/27 Blend
62$647,000$647,000$647,000$647,000
63$717,793$683,502$673,473$733,985
64$742,698$668,684$647,725$732,032
65$768,622$651,618$619,592$725,612
66$795,620$632,146$588,948$717,802
67$823,753$610,101$555,658$708,510
68$853,086$585,306$519,582$697,642
69$883,688$557,573$480,575$685,098
70$915,634$526,704$438,484$670,775
71$949,006$492,490$393,150$654,563
72$983,891$454,708$344,407$636,349
73$1,020,384$413,125$292,081$616,013
74$1,058,587$367,492$235,990$593,431
75$1,098,613$317,549$175,945$568,472
76$1,140,580$263,018$111,748$541,001
77$1,184,620$203,606$43,193$510,875
78$1,230,875$139,007$0$477,949
79$1,279,498$68,892$0$450,700
80$1,330,658$0$0$434,178
81$1,384,537$0$0$419,098
82$1,441,334$0$0$436,804
83$1,501,264$0$0$455,526
84$1,564,563$0$0$475,344
85$1,631,490$0$0$496,345
86$1,702,325$0$0$518,622
87$1,777,373$0$0$542,278
88$1,856,972$0$0$567,426
89$1,941,486$0$0$594,188
90$2,031,316$0$0$622,701
91$2,126,901$0$0$653,110
92$2,228,719$0$0$685,579
93$2,337,297$0$0$720,283
94$2,453,208$0$0$757,418
95$2,577,085$0$0$797,197
96$2,709,616$0$0$839,852
97$2,851,561$0$0$885,640
98$3,003,749$0$0$934,842
99$3,167,091$0$0$987,767
100$3,342,590$0$0$1,044,755