Can I retire at age 67 with 623,000?

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 $623,000?

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$51,447$50,988$50,541$50,105$49,679$49,201
2 years$25,469$24,994$24,535$24,089$23,657$23,175
3 years$16,810$16,334$15,876$15,434$15,009$14,539
4 years$12,482$12,007$11,553$11,119$10,704$10,249
5 years$9,886$9,414$8,966$8,541$8,137$7,699
6 years$8,156$7,687$7,246$6,830$6,439$6,017
7 years$6,920$6,456$6,021$5,615$5,236$4,832
8 years$5,994$5,534$5,106$4,711$4,344$3,957
9 years$5,274$4,818$4,398$4,012$3,658$3,288
10 years$4,698$4,247$3,834$3,459$3,117$2,763
11 years$4,228$3,781$3,376$3,010$2,681$2,343
12 years$3,836$3,393$2,996$2,640$2,323$2,002
13 years$3,504$3,067$2,677$2,331$2,026$1,720
14 years$3,221$2,787$2,405$2,069$1,776$1,486
15 years$2,975$2,546$2,171$1,845$1,564$1,288
16 years$2,760$2,336$1,969$1,652$1,382$1,121
17 years$2,571$2,152$1,791$1,485$1,225$978
18 years$2,403$1,988$1,635$1,338$1,089$856
19 years$2,252$1,843$1,497$1,209$971$751
20 years$2,117$1,712$1,374$1,095$867$659
21 years$1,995$1,595$1,264$994$776$580
22 years$1,885$1,489$1,165$903$696$511
23 years$1,784$1,392$1,075$823$625$451
24 years$1,691$1,305$995$750$561$399
25 years$1,606$1,224$921$685$505$352
26 years$1,528$1,151$854$627$455$312
27 years$1,456$1,083$793$574$410$276
28 years$1,389$1,020$738$526$370$245
29 years$1,326$963$686$482$334$217
30 years$1,268$909$639$442$302$192
31 years$1,214$859$596$406$273$171
32 years$1,163$813$556$373$247$152
33 years$1,116$770$519$343$224$135
34 years$1,071$730$485$316$202$120
35 years$1,029$692$454$291$183$106
36 years$989$657$424$268$166$94
37 years$952$624$397$247$151$84
38 years$917$593$372$227$136$75
39 years$883$564$348$210$124$66
40 years$852$537$327$193$112$59
41 years$822$511$306$178$102$52
42 years$793$486$287$165$92$47
43 years$766$463$270$152$84$42
44 years$740$442$253$140$76$37
45 years$716$421$238$130$69$33
46 years$692$402$223$120$63$29
47 years$670$384$210$111$57$26
48 years$648$366$197$102$52$23
49 years$628$350$185$94$47$21
50 years$608$334$174$87$43$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 67 starting with $623,000, adding $4,697 every year, while hoping to spend $45,846 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: 66/18/16 Blend
66$623,000$623,000$623,000$623,000
67$691,391$658,372$648,715$734,053
68$713,133$641,852$621,668$746,645
69$735,556$622,987$592,177$754,640
70$758,682$601,612$560,114$762,251
71$782,531$577,555$525,341$769,438
72$807,127$550,632$487,718$776,159
73$832,491$520,651$447,094$782,371
74$858,649$487,407$403,315$788,026
75$885,624$450,682$356,219$793,074
76$913,441$410,249$305,636$797,462
77$942,127$365,866$251,389$801,136
78$971,707$317,276$193,294$804,034
79$1,002,209$264,211$131,157$806,095
80$1,033,660$206,383$64,777$807,251
81$1,066,091$143,493$0$807,432
82$1,099,530$75,222$0$807,598
83$1,134,007$1,234$0$818,505
84$1,169,555$0$0$829,037
85$1,206,204$0$0$854,761
86$1,243,989$0$0$881,532
87$1,282,942$0$0$909,131
88$1,323,098$0$0$937,583
89$1,364,493$0$0$966,911
90$1,407,164$0$0$997,143
91$1,451,147$0$0$1,028,303
92$1,496,480$0$0$1,060,420
93$1,543,203$0$0$1,093,520
94$1,591,355$0$0$1,127,632
95$1,640,976$0$0$1,162,785
96$1,692,110$0$0$1,199,007
97$1,744,797$0$0$1,236,330
98$1,799,082$0$0$1,274,782
99$1,855,007$0$0$1,314,395
100$1,912,618$0$0$1,355,201