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%12.3%
1 years$53,429$52,953$52,488$52,035$51,593$51,096
2 years$26,450$25,957$25,480$25,017$24,568$24,068
3 years$17,458$16,963$16,487$16,029$15,587$15,099
4 years$12,963$12,470$11,998$11,548$11,117$10,644
5 years$10,267$9,777$9,311$8,870$8,451$7,995
6 years$8,470$7,983$7,525$7,093$6,687$6,249
7 years$7,187$6,704$6,253$5,832$5,438$5,018
8 years$6,225$5,747$5,303$4,892$4,511$4,109
9 years$5,477$5,004$4,568$4,167$3,799$3,414
10 years$4,879$4,410$3,982$3,592$3,237$2,870
11 years$4,391$3,926$3,506$3,126$2,784$2,434
12 years$3,984$3,524$3,111$2,742$2,413$2,079
13 years$3,639$3,185$2,780$2,421$2,104$1,787
14 years$3,345$2,895$2,498$2,149$1,844$1,543
15 years$3,090$2,645$2,255$1,916$1,624$1,338
16 years$2,866$2,426$2,045$1,716$1,435$1,164
17 years$2,670$2,235$1,860$1,542$1,272$1,016
18 years$2,495$2,065$1,698$1,389$1,131$889
19 years$2,339$1,914$1,555$1,255$1,008$780
20 years$2,199$1,778$1,427$1,137$901$685
21 years$2,072$1,656$1,312$1,032$806$603
22 years$1,957$1,546$1,210$938$723$531
23 years$1,852$1,446$1,117$855$649$469
24 years$1,756$1,355$1,033$779$583$414
25 years$1,668$1,271$957$712$525$366
26 years$1,587$1,195$887$651$473$324
27 years$1,512$1,125$824$596$426$287
28 years$1,442$1,060$766$546$384$254
29 years$1,377$1,000$713$501$347$225
30 years$1,317$944$664$459$314$200
31 years$1,261$893$619$422$284$177
32 years$1,208$845$577$388$257$157
33 years$1,159$800$539$357$232$140
34 years$1,112$758$504$328$210$124
35 years$1,069$719$471$302$190$110
36 years$1,028$682$441$278$172$98
37 years$989$648$412$256$156$87
38 years$952$616$386$236$142$77
39 years$917$586$362$218$129$69
40 years$885$557$339$201$117$61
41 years$853$530$318$185$106$55
42 years$824$505$298$171$96$48
43 years$796$481$280$158$87$43
44 years$769$459$263$146$79$38
45 years$743$438$247$135$72$34
46 years$719$417$232$124$65$30
47 years$696$398$218$115$59$27
48 years$673$380$205$106$54$24
49 years$652$363$192$98$49$21
50 years$632$347$181$91$44$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $647,000, adding $2,975 every year, while hoping to spend $49,718 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: 70/9/21 Blend
62$647,000$647,000$647,000$647,000
63$716,063$681,772$671,743$762,274
64$736,202$662,279$641,347$774,009
65$756,728$640,165$608,266$780,714
66$777,630$615,248$572,358$786,834
67$798,890$587,338$533,475$792,307
68$820,491$556,231$491,460$797,065
69$842,408$521,713$446,151$801,036
70$864,614$483,558$397,378$804,140
71$887,079$441,526$344,964$806,292
72$909,765$395,365$288,724$807,399
73$932,629$344,806$228,464$807,362
74$955,623$289,567$163,983$806,071
75$978,689$229,349$95,070$803,411
76$1,001,765$163,836$21,504$799,254
77$1,024,776$92,695$0$793,463
78$1,047,641$15,575$0$798,662
79$1,070,266$0$0$807,890
80$1,092,545$0$0$822,927
81$1,114,360$0$0$839,129
82$1,135,576$0$0$854,850
83$1,156,045$0$0$869,973
84$1,175,597$0$0$884,369
85$1,194,045$0$0$897,892
86$1,211,179$0$0$910,379
87$1,226,764$0$0$921,647
88$1,240,538$0$0$931,495
89$1,252,209$0$0$939,696
90$1,261,452$0$0$945,999
91$1,267,906$0$0$950,125
92$1,271,169$0$0$951,762
93$1,270,793$0$0$950,564
94$1,266,283$0$0$946,149
95$1,257,088$0$0$938,090
96$1,242,597$0$0$925,915
97$1,222,132$0$0$909,100
98$1,194,942$0$0$887,066
99$1,160,196$0$0$859,170
100$1,116,972$0$0$824,699