Can I retire at age 63 with 691,000?

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 $691,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$57,062$56,554$56,058$55,574$55,101$54,211
2 years$28,249$27,722$27,213$26,718$26,239$25,344
3 years$18,645$18,117$17,608$17,119$16,647$15,776
4 years$13,845$13,318$12,814$12,333$11,873$11,032
5 years$10,965$10,441$9,944$9,473$9,025$8,217
6 years$9,046$8,526$8,037$7,576$7,142$6,367
7 years$7,676$7,160$6,678$6,228$5,808$5,068
8 years$6,648$6,138$5,664$5,225$4,818$4,112
9 years$5,850$5,344$4,878$4,450$4,058$3,385
10 years$5,211$4,710$4,253$3,836$3,457$2,817
11 years$4,689$4,193$3,744$3,339$2,973$2,365
12 years$4,255$3,764$3,323$2,928$2,577$2,000
13 years$3,887$3,401$2,969$2,585$2,247$1,701
14 years$3,572$3,092$2,668$2,295$1,970$1,453
15 years$3,300$2,824$2,408$2,047$1,734$1,247
16 years$3,061$2,591$2,184$1,833$1,533$1,073
17 years$2,851$2,386$1,987$1,647$1,359$926
18 years$2,665$2,205$1,814$1,484$1,208$801
19 years$2,498$2,044$1,660$1,341$1,077$694
20 years$2,348$1,899$1,524$1,214$962$603
21 years$2,213$1,769$1,402$1,102$861$524
22 years$2,090$1,651$1,292$1,002$772$456
23 years$1,978$1,544$1,193$913$693$398
24 years$1,876$1,447$1,103$832$623$347
25 years$1,782$1,358$1,022$760$560$303
26 years$1,695$1,276$948$695$505$265
27 years$1,614$1,201$880$636$455$231
28 years$1,540$1,132$818$583$411$202
29 years$1,471$1,068$761$535$371$177
30 years$1,407$1,008$709$491$335$155
31 years$1,346$953$661$451$303$136
32 years$1,290$902$617$414$274$119
33 years$1,237$854$576$381$248$104
34 years$1,188$810$538$350$224$91
35 years$1,141$768$503$323$203$80
36 years$1,097$729$471$297$184$70
37 years$1,056$692$440$274$167$62
38 years$1,017$658$412$252$151$54
39 years$980$626$386$233$137$47
40 years$945$595$362$215$124$42
41 years$911$567$340$198$113$36
42 years$880$540$319$183$102$32
43 years$850$514$299$169$93$28
44 years$821$490$281$156$84$25
45 years$794$467$264$144$77$22
46 years$768$446$247$133$70$19
47 years$743$425$233$123$63$17
48 years$719$406$218$113$57$15
49 years$696$388$205$105$52$13
50 years$675$370$193$97$47$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $691,000, adding $6,270 every year, while hoping to spend $27,787 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: 42/46/12 Blend
62$691,000$691,000$691,000$691,000
63$767,950$731,327$720,616$797,254
64$816,715$737,596$715,191$824,678
65$869,524$743,242$708,654$851,098
66$926,758$748,204$700,937$879,092
67$988,839$752,418$691,970$908,816
68$1,056,231$755,816$681,681$940,442
69$1,129,442$758,327$669,993$974,162
70$1,209,033$759,873$656,826$1,010,189
71$1,295,621$760,373$642,096$1,048,758
72$1,389,883$759,740$625,715$1,090,130
73$1,492,567$757,883$607,592$1,134,595
74$1,604,493$754,704$587,631$1,182,475
75$1,726,566$750,099$565,731$1,234,125
76$1,859,781$743,959$541,788$1,289,940
77$2,005,232$736,166$515,691$1,350,358
78$2,164,125$726,598$487,326$1,415,862
79$2,337,787$715,123$456,574$1,486,988
80$2,527,681$701,603$423,308$1,564,332
81$2,735,413$685,891$387,398$1,648,550
82$2,962,757$667,831$348,707$1,740,370
83$3,211,662$647,258$307,093$1,840,598
84$3,484,277$623,999$262,405$1,950,126
85$3,782,966$597,868$214,489$2,069,940
86$4,110,336$568,671$163,182$2,201,132
87$4,469,255$536,201$108,313$2,344,908
88$4,862,883$500,238$49,706$2,502,605
89$5,294,700$460,554$0$2,675,699
90$5,768,541$416,902$0$2,867,467
91$6,288,628$369,026$0$3,084,967
92$6,859,612$316,652$0$3,323,852
93$7,486,617$259,492$0$3,586,352
94$8,175,287$197,243$0$3,874,933
95$8,931,840$129,582$0$4,192,318
96$9,763,126$56,169$0$4,541,512
97$10,676,690$0$0$4,925,837
98$11,680,847$0$0$5,360,776
99$12,784,754$0$0$5,870,273
100$13,998,502$0$0$6,430,563