Can I retire at age 63 with 671,000?

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 $671,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.5%
1 years$55,411$54,917$54,435$53,965$53,506$51,877
2 years$27,431$26,920$26,425$25,945$25,479$23,851
3 years$18,106$17,593$17,099$16,623$16,165$14,590
4 years$13,444$12,932$12,443$11,976$11,529$10,019
5 years$10,648$10,139$9,657$9,199$8,764$7,323
6 years$8,784$8,279$7,804$7,356$6,935$5,564
7 years$7,453$6,953$6,485$6,048$5,640$4,339
8 years$6,456$5,960$5,500$5,074$4,679$3,448
9 years$5,680$5,189$4,737$4,322$3,940$2,777
10 years$5,060$4,574$4,130$3,725$3,357$2,260
11 years$4,554$4,072$3,636$3,242$2,887$1,855
12 years$4,131$3,655$3,227$2,844$2,502$1,532
13 years$3,774$3,303$2,883$2,511$2,182$1,272
14 years$3,469$3,002$2,590$2,229$1,913$1,060
15 years$3,204$2,743$2,339$1,988$1,684$887
16 years$2,973$2,516$2,120$1,780$1,488$744
17 years$2,769$2,317$1,929$1,599$1,320$626
18 years$2,588$2,141$1,761$1,441$1,173$527
19 years$2,426$1,985$1,612$1,302$1,046$445
20 years$2,281$1,844$1,480$1,179$934$376
21 years$2,149$1,718$1,361$1,070$836$318
22 years$2,030$1,604$1,254$973$749$269
23 years$1,921$1,500$1,158$886$673$228
24 years$1,821$1,405$1,071$808$605$193
25 years$1,730$1,319$992$738$544$164
26 years$1,646$1,239$920$675$490$139
27 years$1,568$1,166$854$618$442$118
28 years$1,496$1,099$794$566$399$100
29 years$1,428$1,037$739$519$360$85
30 years$1,366$979$689$476$325$72
31 years$1,307$926$642$438$294$62
32 years$1,253$876$599$402$266$52
33 years$1,202$829$559$370$241$45
34 years$1,154$786$522$340$218$38
35 years$1,108$746$488$313$197$32
36 years$1,066$708$457$288$179$27
37 years$1,025$672$428$266$162$23
38 years$987$639$401$245$147$20
39 years$951$607$375$226$133$17
40 years$917$578$352$208$121$14
41 years$885$550$330$192$110$12
42 years$854$524$309$177$100$10
43 years$825$499$290$164$90$9
44 years$797$476$273$151$82$8
45 years$771$454$256$140$74$6
46 years$745$433$240$129$68$5
47 years$721$413$226$119$61$5
48 years$698$394$212$110$56$4
49 years$676$377$199$102$51$3
50 years$655$360$187$94$46$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $671,000, adding $5,118 every year, while hoping to spend $53,616 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: 50/30/20 Blend
62$671,000$671,000$671,000$671,000
63$744,721$709,158$698,758$777,564
64$763,636$686,860$665,119$778,528
65$782,683$661,672$628,557$773,669
66$801,819$633,396$588,916$767,255
67$820,995$601,823$546,035$759,160
68$840,154$566,731$499,745$749,248
69$859,234$527,885$449,871$737,375
70$878,161$485,037$396,227$723,383
71$896,855$437,924$338,621$707,107
72$915,222$386,271$276,854$688,366
73$933,160$329,784$210,713$666,969
74$950,553$268,153$139,982$642,708
75$967,268$201,052$64,431$615,363
76$983,161$128,135$0$584,694
77$998,068$49,038$0$553,902
78$1,011,807$0$0$534,153
79$1,024,172$0$0$523,532
80$1,034,937$0$0$528,179
81$1,043,849$0$0$531,764
82$1,050,626$0$0$534,131
83$1,054,953$0$0$535,105
84$1,056,482$0$0$534,493
85$1,054,825$0$0$532,080
86$1,049,553$0$0$527,628
87$1,040,188$0$0$520,872
88$1,026,201$0$0$511,518
89$1,007,004$0$0$499,242
90$981,948$0$0$483,684
91$950,310$0$0$464,445
92$911,294$0$0$441,083
93$864,017$0$0$413,110
94$807,499$0$0$379,985
95$740,660$0$0$341,112
96$662,304$0$0$295,827
97$571,108$0$0$243,401
98$465,609$0$0$183,026
99$344,191$0$0$113,808
100$205,067$0$0$34,762