Can I retire at age 63 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%13.8%
1 years$51,447$50,988$50,541$50,105$49,679$48,896
2 years$25,469$24,994$24,535$24,089$23,657$22,870
3 years$16,810$16,334$15,876$15,434$15,009$14,243
4 years$12,482$12,007$11,553$11,119$10,704$9,965
5 years$9,886$9,414$8,966$8,541$8,137$7,427
6 years$8,156$7,687$7,246$6,830$6,439$5,758
7 years$6,920$6,456$6,021$5,615$5,236$4,585
8 years$5,994$5,534$5,106$4,711$4,344$3,722
9 years$5,274$4,818$4,398$4,012$3,658$3,066
10 years$4,698$4,247$3,834$3,459$3,117$2,553
11 years$4,228$3,781$3,376$3,010$2,681$2,145
12 years$3,836$3,393$2,996$2,640$2,323$1,815
13 years$3,504$3,067$2,677$2,331$2,026$1,545
14 years$3,221$2,787$2,405$2,069$1,776$1,321
15 years$2,975$2,546$2,171$1,845$1,564$1,134
16 years$2,760$2,336$1,969$1,652$1,382$976
17 years$2,571$2,152$1,791$1,485$1,225$843
18 years$2,403$1,988$1,635$1,338$1,089$730
19 years$2,252$1,843$1,497$1,209$971$633
20 years$2,117$1,712$1,374$1,095$867$550
21 years$1,995$1,595$1,264$994$776$479
22 years$1,885$1,489$1,165$903$696$417
23 years$1,784$1,392$1,075$823$625$364
24 years$1,691$1,305$995$750$561$317
25 years$1,606$1,224$921$685$505$277
26 years$1,528$1,151$854$627$455$243
27 years$1,456$1,083$793$574$410$212
28 years$1,389$1,020$738$526$370$186
29 years$1,326$963$686$482$334$163
30 years$1,268$909$639$442$302$143
31 years$1,214$859$596$406$273$125
32 years$1,163$813$556$373$247$110
33 years$1,116$770$519$343$224$96
34 years$1,071$730$485$316$202$84
35 years$1,029$692$454$291$183$74
36 years$989$657$424$268$166$65
37 years$952$624$397$247$151$57
38 years$917$593$372$227$136$50
39 years$883$564$348$210$124$44
40 years$852$537$327$193$112$39
41 years$822$511$306$178$102$34
42 years$793$486$287$165$92$30
43 years$766$463$270$152$84$26
44 years$740$442$253$140$76$23
45 years$716$421$238$130$69$20
46 years$692$402$223$120$63$18
47 years$670$384$210$111$57$16
48 years$648$366$197$102$52$14
49 years$628$350$185$94$47$12
50 years$608$334$174$87$43$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $623,000, adding $6,430 every year, while hoping to spend $21,782 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: 34/50/16 Blend
62$623,000$623,000$623,000$623,000
63$693,179$660,160$650,503$713,113
64$740,707$669,331$649,119$737,427
65$792,353$678,223$646,959$761,131
66$848,514$686,797$643,973$786,225
67$909,627$695,014$640,110$812,844
68$976,172$702,833$635,317$841,137
69$1,048,678$710,208$629,537$871,270
70$1,127,727$717,093$622,710$903,425
71$1,213,960$723,435$614,776$937,806
72$1,308,082$729,181$605,668$974,638
73$1,410,868$734,273$595,320$1,014,170
74$1,523,174$738,649$583,661$1,056,678
75$1,645,939$742,244$570,615$1,102,468
76$1,780,199$744,989$556,105$1,151,880
77$1,927,095$746,809$540,050$1,205,286
78$2,087,882$747,625$522,364$1,263,104
79$2,263,942$747,355$502,960$1,325,792
80$2,456,797$745,909$481,742$1,393,860
81$2,668,125$743,193$458,615$1,467,868
82$2,899,771$739,107$433,476$1,548,441
83$3,153,769$733,544$406,219$1,636,267
84$3,432,359$726,394$376,733$1,732,108
85$3,738,008$717,535$344,901$1,836,806
86$4,073,432$706,842$310,604$1,951,293
87$4,441,626$694,181$273,712$2,076,600
88$4,845,886$679,410$234,095$2,213,865
89$5,289,843$662,378$191,614$2,364,349
90$5,777,499$642,926$146,125$2,529,441
91$6,313,260$620,886$97,477$2,710,682
92$6,901,983$596,079$45,513$2,909,769
93$7,549,015$568,318$0$3,128,582
94$8,260,251$537,401$0$3,370,893
95$9,042,181$503,118$0$3,645,699
96$9,901,959$465,246$0$3,947,784
97$10,847,464$423,549$0$4,279,977
98$11,887,380$377,777$0$4,645,400
99$13,031,271$327,667$0$5,047,500
100$14,289,678$272,940$0$5,490,077