Can I retire at age 63 with 662,000?

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 $662,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$54,667$54,180$53,705$53,242$52,789$52,086
2 years$27,063$26,559$26,071$25,597$25,138$24,431
3 years$17,863$17,357$16,869$16,400$15,948$15,259
4 years$13,264$12,759$12,277$11,815$11,374$10,708
5 years$10,505$10,003$9,527$9,075$8,647$8,006
6 years$8,666$8,168$7,699$7,258$6,842$6,227
7 years$7,353$6,860$6,398$5,967$5,564$4,975
8 years$6,369$5,880$5,426$5,005$4,616$4,053
9 years$5,604$5,120$4,674$4,264$3,887$3,350
10 years$4,993$4,513$4,075$3,675$3,312$2,800
11 years$4,492$4,017$3,587$3,199$2,849$2,362
12 years$4,076$3,606$3,183$2,806$2,469$2,006
13 years$3,724$3,259$2,844$2,477$2,153$1,714
14 years$3,422$2,962$2,556$2,199$1,887$1,471
15 years$3,161$2,706$2,307$1,961$1,661$1,268
16 years$2,933$2,483$2,092$1,756$1,468$1,097
17 years$2,732$2,286$1,904$1,578$1,302$951
18 years$2,553$2,113$1,738$1,422$1,158$827
19 years$2,393$1,958$1,591$1,285$1,032$720
20 years$2,250$1,819$1,460$1,163$922$629
21 years$2,120$1,695$1,343$1,056$825$549
22 years$2,003$1,582$1,238$960$739$481
23 years$1,895$1,480$1,143$874$664$421
24 years$1,797$1,386$1,057$797$597$370
25 years$1,707$1,301$979$728$537$324
26 years$1,624$1,223$908$666$483$285
27 years$1,547$1,151$843$610$436$251
28 years$1,475$1,084$784$558$393$220
29 years$1,409$1,023$729$512$355$194
30 years$1,348$966$679$470$321$171
31 years$1,290$913$633$432$290$150
32 years$1,236$864$591$397$262$133
33 years$1,186$818$552$365$238$117
34 years$1,138$776$515$336$215$103
35 years$1,093$736$482$309$195$91
36 years$1,051$698$451$285$176$80
37 years$1,012$663$422$262$160$71
38 years$974$630$395$242$145$62
39 years$939$599$370$223$131$55
40 years$905$570$347$206$119$49
41 years$873$543$325$190$108$43
42 years$843$517$305$175$98$38
43 years$814$492$286$162$89$33
44 years$787$469$269$149$81$30
45 years$760$448$252$138$73$26
46 years$735$427$237$127$67$23
47 years$712$408$223$118$61$20
48 years$689$389$209$109$55$18
49 years$667$372$197$100$50$16
50 years$646$355$185$93$45$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $662,000, adding $3,286 every year, while hoping to spend $31,896 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: 75/18/7 Blend
62$662,000$662,000$662,000$662,000
63$732,914$697,828$687,567$786,962
64$773,734$698,084$676,663$823,231
65$817,648$697,284$664,325$858,577
66$864,940$695,342$650,471$896,391
67$915,917$692,168$635,016$936,906
68$970,921$687,664$617,869$980,379
69$1,030,326$681,730$598,938$1,027,093
70$1,094,541$674,257$578,124$1,077,359
71$1,164,018$665,130$555,326$1,131,522
72$1,239,254$654,227$530,435$1,189,962
73$1,320,794$641,420$503,341$1,253,096
74$1,409,238$626,573$473,926$1,321,388
75$1,505,245$609,540$442,067$1,395,345
76$1,609,542$590,169$407,638$1,475,529
77$1,722,925$568,297$370,504$1,562,560
78$1,846,274$543,755$330,527$1,657,122
79$1,980,554$516,359$287,560$1,759,968
80$2,126,829$485,918$241,451$1,871,930
81$2,286,268$452,231$192,042$1,993,924
82$2,460,158$415,081$139,166$2,126,963
83$2,649,917$374,243$82,651$2,272,163
84$2,857,104$329,476$22,315$2,430,755
85$3,083,436$280,528$0$2,604,095
86$3,330,804$227,132$0$2,796,825
87$3,601,289$169,004$0$3,009,438
88$3,897,181$105,846$0$3,242,101
89$4,221,004$37,342$0$3,496,840
90$4,575,536$0$0$3,775,889
91$4,963,836$0$0$4,089,007
92$5,389,272$0$0$4,440,202
93$5,855,555$0$0$4,825,143
94$6,366,772$0$0$5,247,207
95$6,927,422$0$0$5,710,114
96$7,542,462$0$0$6,217,960
97$8,217,353$0$0$6,775,257
98$8,958,107$0$0$7,386,974
99$9,771,350$0$0$8,058,587
100$10,664,378$0$0$8,796,125