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%11.2%
1 years$51,447$50,988$50,541$50,105$49,679$49,428
2 years$25,469$24,994$24,535$24,089$23,657$23,403
3 years$16,810$16,334$15,876$15,434$15,009$14,761
4 years$12,482$12,007$11,553$11,119$10,704$10,464
5 years$9,886$9,414$8,966$8,541$8,137$7,905
6 years$8,156$7,687$7,246$6,830$6,439$6,215
7 years$6,920$6,456$6,021$5,615$5,236$5,021
8 years$5,994$5,534$5,106$4,711$4,344$4,138
9 years$5,274$4,818$4,398$4,012$3,658$3,460
10 years$4,698$4,247$3,834$3,459$3,117$2,928
11 years$4,228$3,781$3,376$3,010$2,681$2,500
12 years$3,836$3,393$2,996$2,640$2,323$2,150
13 years$3,504$3,067$2,677$2,331$2,026$1,861
14 years$3,221$2,787$2,405$2,069$1,776$1,618
15 years$2,975$2,546$2,171$1,845$1,564$1,414
16 years$2,760$2,336$1,969$1,652$1,382$1,240
17 years$2,571$2,152$1,791$1,485$1,225$1,090
18 years$2,403$1,988$1,635$1,338$1,089$961
19 years$2,252$1,843$1,497$1,209$971$850
20 years$2,117$1,712$1,374$1,095$867$752
21 years$1,995$1,595$1,264$994$776$667
22 years$1,885$1,489$1,165$903$696$593
23 years$1,784$1,392$1,075$823$625$528
24 years$1,691$1,305$995$750$561$470
25 years$1,606$1,224$921$685$505$419
26 years$1,528$1,151$854$627$455$374
27 years$1,456$1,083$793$574$410$334
28 years$1,389$1,020$738$526$370$299
29 years$1,326$963$686$482$334$267
30 years$1,268$909$639$442$302$239
31 years$1,214$859$596$406$273$214
32 years$1,163$813$556$373$247$192
33 years$1,116$770$519$343$224$172
34 years$1,071$730$485$316$202$154
35 years$1,029$692$454$291$183$138
36 years$989$657$424$268$166$124
37 years$952$624$397$247$151$111
38 years$917$593$372$227$136$100
39 years$883$564$348$210$124$90
40 years$852$537$327$193$112$80
41 years$822$511$306$178$102$72
42 years$793$486$287$165$92$65
43 years$766$463$270$152$84$58
44 years$740$442$253$140$76$52
45 years$716$421$238$130$69$47
46 years$692$402$223$120$63$42
47 years$670$384$210$111$57$38
48 years$648$366$197$102$52$34
49 years$628$350$185$94$47$31
50 years$608$334$174$87$43$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 67 starting with $623,000, adding $5,079 every year, while hoping to spend $50,171 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: 76/17/7 Blend
66$623,000$623,000$623,000$623,000
67$691,785$658,766$649,109$743,359
68$708,966$637,664$617,473$756,866
69$726,217$613,846$583,095$764,729
70$743,493$587,127$545,832$771,891
71$760,743$557,310$505,530$778,262
72$777,907$524,186$462,033$783,746
73$794,917$487,535$415,176$788,235
74$811,700$447,125$364,785$791,612
75$828,168$402,709$310,680$793,748
76$844,227$354,028$252,674$794,505
77$859,770$300,807$190,569$793,728
78$874,674$242,754$124,162$791,250
79$888,806$179,564$53,236$786,888
80$902,014$110,913$0$780,442
81$914,130$36,458$0$773,370
82$924,965$0$0$768,107
83$934,309$0$0$768,691
84$941,929$0$0$774,638
85$947,564$0$0$778,909
86$950,925$0$0$781,261
87$951,690$0$0$781,424
88$949,502$0$0$779,099
89$943,964$0$0$773,953
90$934,636$0$0$765,617
91$921,030$0$0$753,681
92$902,605$0$0$737,691
93$878,760$0$0$717,146
94$848,832$0$0$691,487
95$812,085$0$0$660,099
96$767,705$0$0$622,299
97$714,792$0$0$577,332
98$652,347$0$0$524,362
99$579,270$0$0$462,465
100$494,341$0$0$390,621