Can I retire at age 63 with 673,000?

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 $673,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$55,576$55,081$54,598$54,126$53,666$53,350
2 years$27,513$27,000$26,504$26,022$25,555$25,237
3 years$18,160$17,645$17,150$16,673$16,213$15,902
4 years$13,484$12,971$12,481$12,012$11,563$11,261
5 years$10,679$10,169$9,685$9,226$8,790$8,499
6 years$8,810$8,304$7,827$7,378$6,956$6,674
7 years$7,476$6,974$6,504$6,066$5,657$5,387
8 years$6,475$5,978$5,516$5,089$4,693$4,433
9 years$5,697$5,205$4,751$4,334$3,952$3,704
10 years$5,076$4,588$4,142$3,736$3,367$3,129
11 years$4,567$4,084$3,647$3,252$2,896$2,669
12 years$4,144$3,666$3,236$2,852$2,510$2,293
13 years$3,786$3,313$2,891$2,518$2,188$1,982
14 years$3,479$3,011$2,598$2,235$1,918$1,721
15 years$3,214$2,751$2,346$1,993$1,689$1,502
16 years$2,982$2,524$2,127$1,785$1,493$1,315
17 years$2,777$2,324$1,935$1,604$1,324$1,155
18 years$2,596$2,148$1,767$1,445$1,177$1,017
19 years$2,433$1,991$1,617$1,306$1,049$897
20 years$2,287$1,850$1,484$1,183$937$794
21 years$2,155$1,723$1,365$1,073$838$703
22 years$2,036$1,608$1,258$976$752$624
23 years$1,927$1,504$1,162$889$675$554
24 years$1,827$1,409$1,074$811$606$493
25 years$1,735$1,323$995$740$546$439
26 years$1,651$1,243$923$677$492$391
27 years$1,572$1,170$857$620$443$349
28 years$1,500$1,102$797$568$400$311
29 years$1,433$1,040$741$521$361$278
30 years$1,370$982$691$478$326$248
31 years$1,311$928$644$439$295$222
32 years$1,257$878$601$403$267$198
33 years$1,205$832$561$371$241$178
34 years$1,157$788$524$341$219$159
35 years$1,112$748$490$314$198$142
36 years$1,069$710$458$289$179$127
37 years$1,029$674$429$267$163$114
38 years$990$641$402$246$147$102
39 years$954$609$376$227$134$92
40 years$920$580$353$209$121$82
41 years$888$552$331$193$110$74
42 years$857$525$310$178$100$66
43 years$828$501$291$164$91$59
44 years$800$477$273$152$82$53
45 years$773$455$257$140$75$48
46 years$748$434$241$129$68$43
47 years$723$414$226$120$62$38
48 years$700$396$213$110$56$34
49 years$678$378$200$102$51$31
50 years$657$361$188$94$46$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $673,000, adding $6,851 every year, while hoping to spend $22,691 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: 78/13/9 Blend
62$673,000$673,000$673,000$673,000
63$748,713$713,044$702,612$805,526
64$800,938$723,840$702,007$854,609
65$857,731$734,405$700,620$904,805
66$919,531$744,702$698,403$959,194
67$986,826$754,696$695,303$1,018,184
68$1,060,151$764,344$691,263$1,082,225
69$1,140,093$773,604$686,228$1,151,812
70$1,227,302$782,430$680,136$1,227,489
71$1,322,490$790,772$672,923$1,309,857
72$1,426,442$798,578$664,524$1,399,577
73$1,540,022$805,791$654,869$1,497,379
74$1,664,183$812,353$643,886$1,604,065
75$1,799,970$818,200$631,497$1,720,520
76$1,948,539$823,263$617,623$1,847,718
77$2,111,158$827,471$602,182$1,986,735
78$2,289,226$830,747$585,085$2,138,752
79$2,484,282$833,009$566,241$2,305,076
80$2,698,024$834,171$545,555$2,487,141
81$2,932,318$834,141$522,927$2,686,534
82$3,189,222$832,822$498,252$2,904,997
83$3,471,001$830,108$471,421$3,144,455
84$3,780,150$825,891$442,321$3,407,028
85$4,119,418$820,052$410,832$3,695,050
86$4,491,833$812,469$376,829$4,011,096
87$4,900,730$803,010$340,183$4,358,002
88$5,349,782$791,535$300,757$4,738,896
89$5,843,037$777,897$258,409$5,157,221
90$6,384,952$761,940$212,991$5,616,776
91$6,980,440$743,497$164,349$6,121,745
92$7,634,910$722,394$112,320$6,676,741
93$8,354,323$698,444$56,735$7,286,845
94$9,145,248$671,451$0$7,957,660
95$10,014,918$641,207$0$8,695,607
96$10,971,306$607,492$0$9,513,074
97$12,023,193$570,074$0$10,412,124
98$13,180,257$528,705$0$11,401,039
99$14,453,158$483,127$0$12,488,950
100$15,853,643$433,063$0$13,685,914