Can I retire at age 63 with 622,000?

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 $622,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.4%
1 years$51,364$50,907$50,460$50,025$49,599$47,726
2 years$25,428$24,954$24,495$24,050$23,619$21,753
3 years$16,783$16,308$15,850$15,409$14,985$13,185
4 years$12,462$11,988$11,535$11,101$10,687$8,968
5 years$9,870$9,399$8,951$8,527$8,124$6,489
6 years$8,143$7,675$7,234$6,819$6,428$4,879
7 years$6,909$6,445$6,012$5,606$5,228$3,764
8 years$5,984$5,525$5,098$4,703$4,337$2,957
9 years$5,266$4,810$4,391$4,006$3,653$2,355
10 years$4,691$4,240$3,828$3,453$3,112$1,894
11 years$4,221$3,775$3,370$3,005$2,677$1,535
12 years$3,830$3,388$2,991$2,636$2,319$1,252
13 years$3,499$3,062$2,672$2,327$2,023$1,026
14 years$3,215$2,783$2,401$2,066$1,773$844
15 years$2,970$2,542$2,168$1,842$1,561$697
16 years$2,756$2,333$1,966$1,650$1,380$576
17 years$2,567$2,148$1,789$1,482$1,223$478
18 years$2,399$1,985$1,633$1,336$1,088$397
19 years$2,249$1,840$1,495$1,207$970$330
20 years$2,114$1,710$1,372$1,093$866$275
21 years$1,992$1,592$1,262$992$775$229
22 years$1,882$1,486$1,163$902$695$191
23 years$1,781$1,390$1,074$822$624$160
24 years$1,688$1,303$993$749$560$133
25 years$1,604$1,222$920$684$504$111
26 years$1,525$1,149$853$626$454$93
27 years$1,453$1,081$792$573$410$78
28 years$1,386$1,019$736$525$370$65
29 years$1,324$961$685$481$334$54
30 years$1,266$908$638$442$302$46
31 years$1,212$858$595$406$273$38
32 years$1,161$812$555$373$247$32
33 years$1,114$769$518$343$223$27
34 years$1,069$729$484$315$202$22
35 years$1,027$691$453$290$183$19
36 years$988$656$424$267$166$16
37 years$951$623$396$246$150$13
38 years$915$592$371$227$136$11
39 years$882$563$348$209$124$9
40 years$850$536$326$193$112$8
41 years$820$510$306$178$102$6
42 years$792$486$287$164$92$5
43 years$765$463$269$152$84$5
44 years$739$441$253$140$76$4
45 years$714$421$237$129$69$3
46 years$691$401$223$120$63$3
47 years$669$383$209$110$57$2
48 years$647$366$197$102$52$2
49 years$627$349$185$94$47$2
50 years$607$333$174$87$43$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $622,000, adding $3,404 every year, while hoping to spend $38,323 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: 26/50/24 Blend
62$622,000$622,000$622,000$622,000
63$688,955$655,989$646,348$701,579
64$718,453$647,357$627,226$703,375
65$749,676$637,018$606,178$701,753
66$782,758$624,847$583,100$699,203
67$817,848$610,713$557,883$695,669
68$855,107$594,477$530,411$691,098
69$894,713$575,992$500,564$685,433
70$936,859$555,100$468,218$678,617
71$981,757$531,638$433,242$670,591
72$1,029,638$505,431$395,497$661,296
73$1,080,757$476,293$354,843$650,673
74$1,135,393$444,029$311,128$638,662
75$1,193,849$408,433$264,197$625,204
76$1,256,462$369,286$213,888$610,239
77$1,323,597$326,358$160,029$593,709
78$1,395,658$279,403$102,444$575,559
79$1,473,087$228,166$40,948$555,733
80$1,556,368$172,372$0$534,180
81$1,646,034$111,734$0$517,171
82$1,742,669$45,950$0$509,944
83$1,846,917$0$0$502,016
84$1,959,483$0$0$507,335
85$2,081,142$0$0$540,489
86$2,212,747$0$0$576,439
87$2,355,234$0$0$615,451
88$2,509,634$0$0$657,819
89$2,677,079$0$0$703,867
90$2,858,814$0$0$753,948
91$3,056,210$0$0$808,453
92$3,270,772$0$0$867,812
93$3,504,159$0$0$932,498
94$3,758,194$0$0$1,003,032
95$4,034,884$0$0$1,079,985
96$4,336,437$0$0$1,163,989
97$4,665,283$0$0$1,255,738
98$5,024,097$0$0$1,355,995
99$5,415,823$0$0$1,465,602
100$5,843,703$0$0$1,585,485