Can I retire at age 63 with 656,000?

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 $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%11.1%
1 years$54,172$53,689$53,219$52,759$52,310$52,068
2 years$26,818$26,318$25,834$25,365$24,910$24,665
3 years$17,701$17,199$16,716$16,252$15,804$15,564
4 years$13,143$12,643$12,165$11,708$11,271$11,039
5 years$10,410$9,913$9,441$8,993$8,568$8,344
6 years$8,588$8,094$7,630$7,192$6,780$6,564
7 years$7,287$6,798$6,340$5,913$5,514$5,306
8 years$6,312$5,827$5,377$4,960$4,574$4,374
9 years$5,553$5,073$4,631$4,225$3,852$3,661
10 years$4,947$4,472$4,038$3,642$3,282$3,099
11 years$4,452$3,981$3,555$3,170$2,823$2,647
12 years$4,039$3,573$3,155$2,780$2,446$2,279
13 years$3,690$3,229$2,818$2,454$2,133$1,973
14 years$3,391$2,935$2,532$2,179$1,870$1,717
15 years$3,133$2,681$2,286$1,943$1,646$1,501
16 years$2,906$2,460$2,073$1,740$1,455$1,317
17 years$2,707$2,266$1,886$1,563$1,290$1,159
18 years$2,530$2,094$1,722$1,409$1,147$1,023
19 years$2,372$1,940$1,576$1,273$1,023$905
20 years$2,230$1,803$1,447$1,153$913$802
21 years$2,101$1,679$1,331$1,046$817$712
22 years$1,984$1,568$1,226$951$733$633
23 years$1,878$1,466$1,132$866$658$563
24 years$1,781$1,374$1,047$790$591$502
25 years$1,691$1,289$970$722$532$448
26 years$1,609$1,212$900$660$479$400
27 years$1,533$1,140$835$604$432$358
28 years$1,462$1,074$777$553$390$320
29 years$1,396$1,014$723$507$352$287
30 years$1,335$957$673$466$318$257
31 years$1,278$905$628$428$288$230
32 years$1,225$856$586$393$260$206
33 years$1,175$811$547$361$235$185
34 years$1,128$769$511$333$213$166
35 years$1,084$729$478$306$193$149
36 years$1,042$692$447$282$175$134
37 years$1,003$657$418$260$158$120
38 years$965$625$392$239$144$108
39 years$930$594$367$221$130$97
40 years$897$565$344$204$118$87
41 years$865$538$322$188$107$78
42 years$835$512$302$173$97$70
43 years$807$488$284$160$88$63
44 years$779$465$266$148$80$57
45 years$754$444$250$137$73$51
46 years$729$423$235$126$66$46
47 years$705$404$221$116$60$41
48 years$683$386$207$108$54$37
49 years$661$368$195$99$49$33
50 years$640$352$183$92$45$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $656,000, adding $2,197 every year, while hoping to spend $58,578 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: 38/50/12 Blend
62$656,000$656,000$656,000$656,000
63$725,178$690,410$680,242$750,007
64$736,820$661,914$640,704$739,378
65$747,686$630,058$597,878$722,040
66$757,635$594,616$551,591$702,013
67$766,509$555,348$501,666$679,082
68$774,135$512,001$447,913$653,019
69$780,315$464,308$390,137$623,576
70$784,834$411,986$328,133$590,489
71$787,448$354,734$261,687$553,474
72$787,890$292,238$190,575$512,225
73$785,861$224,164$114,565$466,413
74$781,029$150,158$33,414$415,684
75$773,027$69,849$0$359,657
76$761,448$0$0$304,735
77$745,839$0$0$258,111
78$725,700$0$0$247,970
79$700,475$0$0$235,645
80$669,552$0$0$220,879
81$632,249$0$0$203,384
82$587,816$0$0$182,843
83$535,419$0$0$158,908
84$474,139$0$0$131,189
85$402,957$0$0$99,259
86$320,750$0$0$62,645
87$226,272$0$0$20,824
88$118,152$0$0$0
89$0$0$0$0
90$0$0$0$0
91$0$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0