Can I retire at age 63 with 670,000?

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 $670,000?

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$55,328$54,835$54,354$53,885$53,427$52,434
2 years$27,390$26,880$26,386$25,906$25,441$24,445
3 years$18,079$17,566$17,073$16,598$16,141$15,172
4 years$13,424$12,913$12,425$11,958$11,512$10,577
5 years$10,632$10,124$9,642$9,185$8,751$7,854
6 years$8,771$8,267$7,792$7,345$6,924$6,066
7 years$7,442$6,943$6,476$6,039$5,631$4,812
8 years$6,446$5,951$5,492$5,066$4,672$3,890
9 years$5,672$5,182$4,730$4,315$3,934$3,191
10 years$5,053$4,567$4,124$3,720$3,352$2,646
11 years$4,547$4,066$3,630$3,237$2,883$2,214
12 years$4,125$3,649$3,222$2,839$2,498$1,865
13 years$3,769$3,298$2,879$2,507$2,179$1,579
14 years$3,464$2,998$2,586$2,225$1,910$1,344
15 years$3,199$2,739$2,335$1,985$1,682$1,148
16 years$2,968$2,513$2,117$1,777$1,486$984
17 years$2,765$2,314$1,927$1,597$1,318$845
18 years$2,584$2,138$1,759$1,439$1,172$728
19 years$2,422$1,982$1,610$1,300$1,044$628
20 years$2,277$1,841$1,478$1,178$933$543
21 years$2,146$1,715$1,359$1,069$835$470
22 years$2,027$1,601$1,253$972$748$407
23 years$1,918$1,497$1,157$885$672$353
24 years$1,819$1,403$1,070$807$604$307
25 years$1,727$1,317$991$737$543$267
26 years$1,643$1,237$919$674$489$232
27 years$1,565$1,165$853$617$441$202
28 years$1,493$1,097$793$565$398$176
29 years$1,426$1,035$738$518$359$153
30 years$1,364$978$688$476$325$133
31 years$1,306$924$641$437$294$116
32 years$1,251$875$598$401$266$101
33 years$1,200$828$558$369$240$88
34 years$1,152$785$522$340$218$77
35 years$1,107$745$488$313$197$67
36 years$1,064$707$456$288$179$59
37 years$1,024$671$427$265$162$51
38 years$986$638$400$245$147$45
39 years$950$607$375$226$133$39
40 years$916$577$351$208$121$34
41 years$884$549$329$192$110$30
42 years$853$523$309$177$99$26
43 years$824$498$290$163$90$23
44 years$796$475$272$151$82$20
45 years$770$453$255$139$74$17
46 years$744$432$240$129$67$15
47 years$720$412$225$119$61$13
48 years$697$394$212$110$56$11
49 years$675$376$199$102$51$10
50 years$654$359$187$94$46$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $670,000, adding $6,384 every year, while hoping to spend $36,510 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: 61/23/16 Blend
62$670,000$670,000$670,000$670,000
63$744,925$709,415$699,030$786,987
64$782,061$705,330$683,601$811,995
65$821,761$699,821$666,432$834,611
66$864,249$692,780$647,425$858,430
67$909,768$684,092$626,480$883,572
68$958,587$673,636$603,490$910,170
69$1,011,001$661,281$578,344$938,374
70$1,067,331$646,893$550,927$968,348
71$1,127,934$630,325$521,118$1,000,276
72$1,193,197$611,426$488,790$1,034,362
73$1,263,550$590,031$453,810$1,070,831
74$1,339,460$565,971$416,041$1,109,937
75$1,421,445$539,064$375,339$1,151,958
76$1,510,071$509,117$331,551$1,197,204
77$1,605,961$475,927$284,521$1,246,019
78$1,709,801$439,279$234,085$1,298,784
79$1,822,344$398,947$180,070$1,355,924
80$1,944,418$354,690$122,297$1,417,907
81$2,076,933$306,254$60,578$1,485,253
82$2,220,892$253,372$0$1,558,539
83$2,377,396$195,760$0$1,639,306
84$2,547,657$133,120$0$1,738,455
85$2,733,010$65,134$0$1,846,453
86$2,934,922$0$0$1,964,207
87$3,155,008$0$0$2,094,874
88$3,395,045$0$0$2,255,414
89$3,656,990$0$0$2,430,654
90$3,942,997$0$0$2,622,043
91$4,255,436$0$0$2,831,172
92$4,596,917$0$0$3,059,795
93$4,970,312$0$0$3,309,843
94$5,378,786$0$0$3,583,442
95$5,825,821$0$0$3,882,931
96$6,315,254$0$0$4,210,888
97$6,851,308$0$0$4,570,152
98$7,438,634$0$0$4,963,848
99$8,082,354$0$0$5,395,419
100$8,788,111$0$0$5,868,655