Can I retire at age 63 with 690,000?

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 $690,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$56,980$56,472$55,977$55,494$55,022$54,424
2 years$28,208$27,682$27,173$26,680$26,201$25,599
3 years$18,618$18,091$17,583$17,094$16,623$16,036
4 years$13,825$13,299$12,796$12,315$11,856$11,288
5 years$10,949$10,426$9,930$9,459$9,012$8,465
6 years$9,033$8,514$8,025$7,565$7,131$6,606
7 years$7,664$7,150$6,669$6,219$5,800$5,296
8 years$6,639$6,129$5,656$5,217$4,811$4,329
9 years$5,841$5,336$4,871$4,444$4,052$3,591
10 years$5,204$4,704$4,247$3,831$3,452$3,013
11 years$4,682$4,187$3,739$3,334$2,969$2,550
12 years$4,248$3,758$3,318$2,924$2,573$2,174
13 years$3,881$3,396$2,965$2,582$2,244$1,865
14 years$3,567$3,087$2,664$2,292$1,967$1,607
15 years$3,295$2,820$2,405$2,044$1,732$1,391
16 years$3,057$2,588$2,180$1,830$1,531$1,208
17 years$2,847$2,383$1,984$1,644$1,357$1,052
18 years$2,661$2,202$1,811$1,482$1,207$918
19 years$2,495$2,041$1,658$1,339$1,075$804
20 years$2,345$1,896$1,522$1,213$961$704
21 years$2,210$1,766$1,400$1,101$860$619
22 years$2,087$1,649$1,290$1,001$771$544
23 years$1,975$1,542$1,191$911$692$479
24 years$1,873$1,445$1,102$831$622$422
25 years$1,779$1,356$1,020$759$559$372
26 years$1,692$1,274$946$694$504$328
27 years$1,612$1,199$879$635$454$290
28 years$1,538$1,130$817$582$410$256
29 years$1,469$1,066$760$534$370$227
30 years$1,405$1,007$708$490$334$201
31 years$1,345$952$660$450$302$178
32 years$1,288$901$616$413$274$157
33 years$1,236$853$575$380$248$139
34 years$1,186$808$537$350$224$123
35 years$1,140$767$502$322$203$109
36 years$1,096$728$470$297$184$97
37 years$1,055$691$440$273$167$86
38 years$1,015$657$412$252$151$76
39 years$978$625$386$232$137$68
40 years$943$594$362$214$124$60
41 years$910$566$339$198$113$53
42 years$878$539$318$182$102$47
43 years$848$513$299$168$93$42
44 years$820$489$280$155$84$37
45 years$793$467$263$144$77$33
46 years$767$445$247$133$69$29
47 years$742$425$232$123$63$26
48 years$718$406$218$113$57$23
49 years$695$387$205$105$52$21
50 years$674$370$193$97$47$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $690,000, adding $6,692 every year, while hoping to spend $20,202 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: 50/38/12 Blend
62$690,000$690,000$690,000$690,000
63$767,283$730,713$720,018$802,838
64$824,051$745,023$722,644$842,238
65$885,932$759,357$724,680$882,351
66$953,427$773,695$726,087$925,482
67$1,027,086$788,016$726,820$971,921
68$1,107,515$802,295$726,835$1,021,985
69$1,195,381$816,507$726,083$1,076,028
70$1,291,419$830,625$724,516$1,134,437
71$1,396,437$844,619$722,081$1,197,638
72$1,511,326$858,457$718,723$1,266,104
73$1,637,066$872,106$714,385$1,340,353
74$1,774,736$885,529$709,006$1,420,958
75$1,925,525$898,686$702,524$1,508,552
76$2,090,742$911,535$694,872$1,603,830
77$2,271,829$924,032$685,981$1,707,560
78$2,470,374$936,127$675,780$1,820,589
79$2,688,125$947,770$664,191$1,943,851
80$2,927,008$958,906$651,136$2,078,374
81$3,189,145$969,475$636,532$2,225,296
82$3,476,874$979,414$620,291$2,385,866
83$3,792,767$988,658$602,323$2,561,467
84$4,139,661$997,134$582,532$2,753,619
85$4,520,679$1,004,766$560,820$2,964,002
86$4,939,262$1,011,473$537,081$3,194,467
87$5,399,201$1,017,170$511,208$3,447,054
88$5,904,672$1,021,763$483,086$3,724,014
89$6,460,275$1,025,157$452,596$4,027,828
90$7,071,081$1,027,247$419,615$4,361,232
91$7,742,671$1,027,922$384,013$4,727,244
92$8,481,200$1,027,067$345,653$5,129,191
93$9,293,445$1,024,556$304,396$5,570,739
94$10,186,875$1,020,257$260,091$6,055,933
95$11,169,718$1,014,032$212,586$6,589,232
96$12,251,039$1,005,730$161,718$7,175,553
97$13,440,829$995,194$107,320$7,820,316
98$14,750,094$982,259$49,214$8,529,497
99$16,190,960$966,746$0$9,309,685
100$17,776,789$948,468$0$10,169,781