Can I retire at age 63 with 689,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $689,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$56,897$56,390$55,896$55,413$54,942$53,789
2 years$28,167$27,642$27,134$26,641$26,163$25,006
3 years$18,591$18,065$17,557$17,069$16,599$15,475
4 years$13,805$13,279$12,777$12,297$11,838$10,756
5 years$10,933$10,411$9,916$9,446$8,999$7,962
6 years$9,020$8,501$8,013$7,554$7,121$6,129
7 years$7,653$7,140$6,659$6,210$5,791$4,845
8 years$6,629$6,120$5,647$5,210$4,804$3,904
9 years$5,833$5,328$4,864$4,437$4,046$3,191
10 years$5,196$4,697$4,241$3,825$3,447$2,636
11 years$4,676$4,181$3,733$3,329$2,965$2,197
12 years$4,242$3,753$3,313$2,920$2,569$1,843
13 years$3,876$3,392$2,960$2,578$2,240$1,555
14 years$3,562$3,083$2,660$2,288$1,964$1,318
15 years$3,290$2,816$2,401$2,041$1,729$1,121
16 years$3,053$2,584$2,177$1,827$1,528$957
17 years$2,843$2,380$1,981$1,642$1,355$819
18 years$2,657$2,199$1,809$1,480$1,205$702
19 years$2,491$2,038$1,656$1,337$1,074$603
20 years$2,342$1,894$1,519$1,211$959$519
21 years$2,207$1,764$1,398$1,099$858$447
22 years$2,084$1,647$1,288$999$769$386
23 years$1,973$1,540$1,189$910$691$333
24 years$1,870$1,443$1,100$830$621$288
25 years$1,776$1,354$1,019$758$559$249
26 years$1,690$1,273$945$693$503$215
27 years$1,610$1,198$877$634$454$186
28 years$1,536$1,129$816$581$409$161
29 years$1,467$1,065$759$533$370$140
30 years$1,403$1,005$707$489$334$121
31 years$1,343$950$659$449$302$105
32 years$1,286$899$615$413$273$91
33 years$1,234$852$574$380$247$79
34 years$1,185$807$537$349$224$69
35 years$1,138$766$502$322$203$60
36 years$1,094$727$469$296$184$52
37 years$1,053$690$439$273$166$45
38 years$1,014$656$411$252$151$39
39 years$977$624$385$232$137$34
40 years$942$593$361$214$124$29
41 years$909$565$339$197$113$26
42 years$877$538$318$182$102$22
43 years$847$513$298$168$93$19
44 years$819$489$280$155$84$17
45 years$791$466$263$143$76$15
46 years$765$444$247$132$69$13
47 years$741$424$232$122$63$11
48 years$717$405$218$113$57$10
49 years$694$387$205$104$52$8
50 years$673$369$193$97$47$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $689,000, adding $3,649 every year, while hoping to spend $58,128 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: 30/46/24 Blend
62$689,000$689,000$689,000$689,000
63$763,042$726,525$715,845$780,167
64$779,024$700,277$677,979$767,407
65$794,689$670,795$636,895$748,288
66$809,942$637,858$592,425$726,530
67$824,677$601,235$544,393$701,942
68$838,778$560,679$492,614$674,321
69$852,111$515,930$436,894$643,451
70$864,530$466,713$377,033$609,098
71$875,868$412,738$312,820$571,018
72$885,942$353,698$244,035$528,946
73$894,547$289,268$170,449$482,601
74$901,454$219,106$91,823$431,684
75$906,409$142,849$7,905$375,872
76$909,130$60,115$0$314,825
77$909,301$0$0$269,084
78$906,574$0$0$235,802
79$900,561$0$0$231,801
80$890,833$0$0$226,508
81$876,912$0$0$219,764
82$858,271$0$0$211,391
83$834,324$0$0$201,195
84$804,422$0$0$188,959
85$767,847$0$0$174,443
86$723,806$0$0$157,381
87$671,418$0$0$137,481
88$609,710$0$0$114,419
89$537,607$0$0$87,837
90$453,919$0$0$57,338
91$357,332$0$0$22,485
92$246,391$0$0$0
93$119,492$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0