Can I retire at age 63 with 656,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $656,000?

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$54,172$53,689$53,219$52,759$52,310$51,338
2 years$26,818$26,318$25,834$25,365$24,910$23,934
3 years$17,701$17,199$16,716$16,252$15,804$14,855
4 years$13,143$12,643$12,165$11,708$11,271$10,356
5 years$10,410$9,913$9,441$8,993$8,568$7,690
6 years$8,588$8,094$7,630$7,192$6,780$5,939
7 years$7,287$6,798$6,340$5,913$5,514$4,711
8 years$6,312$5,827$5,377$4,960$4,574$3,809
9 years$5,553$5,073$4,631$4,225$3,852$3,124
10 years$4,947$4,472$4,038$3,642$3,282$2,591
11 years$4,452$3,981$3,555$3,170$2,823$2,167
12 years$4,039$3,573$3,155$2,780$2,446$1,826
13 years$3,690$3,229$2,818$2,454$2,133$1,546
14 years$3,391$2,935$2,532$2,179$1,870$1,316
15 years$3,133$2,681$2,286$1,943$1,646$1,124
16 years$2,906$2,460$2,073$1,740$1,455$963
17 years$2,707$2,266$1,886$1,563$1,290$828
18 years$2,530$2,094$1,722$1,409$1,147$713
19 years$2,372$1,940$1,576$1,273$1,023$615
20 years$2,230$1,803$1,447$1,153$913$532
21 years$2,101$1,679$1,331$1,046$817$460
22 years$1,984$1,568$1,226$951$733$399
23 years$1,878$1,466$1,132$866$658$346
24 years$1,781$1,374$1,047$790$591$300
25 years$1,691$1,289$970$722$532$261
26 years$1,609$1,212$900$660$479$227
27 years$1,533$1,140$835$604$432$197
28 years$1,462$1,074$777$553$390$172
29 years$1,396$1,014$723$507$352$150
30 years$1,335$957$673$466$318$130
31 years$1,278$905$628$428$288$114
32 years$1,225$856$586$393$260$99
33 years$1,175$811$547$361$235$86
34 years$1,128$769$511$333$213$75
35 years$1,084$729$478$306$193$66
36 years$1,042$692$447$282$175$57
37 years$1,003$657$418$260$158$50
38 years$965$625$392$239$144$44
39 years$930$594$367$221$130$38
40 years$897$565$344$204$118$33
41 years$865$538$322$188$107$29
42 years$835$512$302$173$97$25
43 years$807$488$284$160$88$22
44 years$779$465$266$148$80$19
45 years$754$444$250$137$73$17
46 years$729$423$235$126$66$15
47 years$705$404$221$116$60$13
48 years$683$386$207$108$54$11
49 years$661$368$195$99$49$10
50 years$640$352$183$92$45$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $656,000, adding $4,821 every year, while hoping to spend $46,997 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: 70/22/8 Blend
62$656,000$656,000$656,000$656,000
63$727,885$693,117$682,949$777,492
64$752,125$677,075$655,823$794,911
65$777,262$658,672$626,214$807,741
66$803,338$637,743$593,988$820,499
67$830,398$614,112$559,006$833,170
68$858,490$587,594$521,124$845,735
69$887,664$557,994$480,189$858,175
70$917,974$525,105$436,044$870,472
71$949,478$488,706$388,522$882,607
72$982,239$448,567$337,452$894,559
73$1,016,323$404,442$282,652$906,308
74$1,051,801$356,072$223,934$917,835
75$1,088,750$303,185$161,101$929,119
76$1,127,252$245,491$93,948$940,141
77$1,167,396$182,684$22,259$950,880
78$1,209,278$114,443$0$961,318
79$1,253,000$40,426$0$976,067
80$1,298,673$0$0$992,807
81$1,346,418$0$0$1,019,260
82$1,396,364$0$0$1,057,178
83$1,448,651$0$0$1,096,883
84$1,503,433$0$0$1,138,493
85$1,560,874$0$0$1,182,133
86$1,621,152$0$0$1,227,941
87$1,684,462$0$0$1,276,066
88$1,751,016$0$0$1,326,671
89$1,821,042$0$0$1,379,931
90$1,894,791$0$0$1,436,039
91$1,972,534$0$0$1,495,203
92$2,054,568$0$0$1,557,652
93$2,141,215$0$0$1,623,634
94$2,232,829$0$0$1,693,420
95$2,329,794$0$0$1,767,305
96$2,432,529$0$0$1,845,614
97$2,541,493$0$0$1,928,698
98$2,657,189$0$0$2,016,943
99$2,780,165$0$0$2,110,773
100$2,911,020$0$0$2,210,648