Can I retire at age 63 with 691,000?

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 $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%14.9%
1 years$57,062$56,554$56,058$55,574$55,101$53,989
2 years$28,249$27,722$27,213$26,718$26,239$25,123
3 years$18,645$18,117$17,608$17,119$16,647$15,562
4 years$13,845$13,318$12,814$12,333$11,873$10,828
5 years$10,965$10,441$9,944$9,473$9,025$8,023
6 years$9,046$8,526$8,037$7,576$7,142$6,183
7 years$7,676$7,160$6,678$6,228$5,808$4,894
8 years$6,648$6,138$5,664$5,225$4,818$3,948
9 years$5,850$5,344$4,878$4,450$4,058$3,230
10 years$5,211$4,710$4,253$3,836$3,457$2,672
11 years$4,689$4,193$3,744$3,339$2,973$2,230
12 years$4,255$3,764$3,323$2,928$2,577$1,873
13 years$3,887$3,401$2,969$2,585$2,247$1,582
14 years$3,572$3,092$2,668$2,295$1,970$1,343
15 years$3,300$2,824$2,408$2,047$1,734$1,144
16 years$3,061$2,591$2,184$1,833$1,533$978
17 years$2,851$2,386$1,987$1,647$1,359$838
18 years$2,665$2,205$1,814$1,484$1,208$719
19 years$2,498$2,044$1,660$1,341$1,077$619
20 years$2,348$1,899$1,524$1,214$962$533
21 years$2,213$1,769$1,402$1,102$861$460
22 years$2,090$1,651$1,292$1,002$772$398
23 years$1,978$1,544$1,193$913$693$344
24 years$1,876$1,447$1,103$832$623$298
25 years$1,782$1,358$1,022$760$560$258
26 years$1,695$1,276$948$695$505$223
27 years$1,614$1,201$880$636$455$194
28 years$1,540$1,132$818$583$411$168
29 years$1,471$1,068$761$535$371$146
30 years$1,407$1,008$709$491$335$127
31 years$1,346$953$661$451$303$110
32 years$1,290$902$617$414$274$96
33 years$1,237$854$576$381$248$83
34 years$1,188$810$538$350$224$72
35 years$1,141$768$503$323$203$63
36 years$1,097$729$471$297$184$55
37 years$1,056$692$440$274$167$47
38 years$1,017$658$412$252$151$41
39 years$980$626$386$233$137$36
40 years$945$595$362$215$124$31
41 years$911$567$340$198$113$27
42 years$880$540$319$183$102$24
43 years$850$514$299$169$93$21
44 years$821$490$281$156$84$18
45 years$794$467$264$144$77$16
46 years$768$446$247$133$70$14
47 years$743$425$233$123$63$12
48 years$719$406$218$113$57$10
49 years$696$388$205$105$52$9
50 years$675$370$193$97$47$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $691,000, adding $5,255 every year, while hoping to spend $55,128 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: 72/8/20 Blend
62$691,000$691,000$691,000$691,000
63$766,903$730,280$719,569$818,055
64$786,471$707,407$685,019$829,907
65$806,187$681,567$647,464$835,775
66$826,009$652,555$606,744$840,811
67$845,887$620,155$562,695$844,924
68$865,765$584,139$515,142$848,015
69$885,578$544,267$463,905$849,975
70$905,255$500,284$408,793$850,686
71$924,713$451,920$349,610$850,020
72$943,860$398,891$286,149$847,837
73$962,592$340,895$218,193$843,986
74$980,793$277,615$145,519$838,300
75$998,330$208,715$67,890$830,598
76$1,015,057$133,839$0$820,685
77$1,030,810$52,614$0$811,536
78$1,045,404$0$0$815,394
79$1,058,635$0$0$820,671
80$1,070,273$0$0$829,297
81$1,080,064$0$0$836,438
82$1,087,723$0$0$841,869
83$1,092,933$0$0$845,336
84$1,095,345$0$0$846,562
85$1,094,567$0$0$845,235
86$1,090,166$0$0$841,011
87$1,081,661$0$0$833,507
88$1,068,517$0$0$822,299
89$1,050,143$0$0$806,918
90$1,025,883$0$0$786,840
91$995,011$0$0$761,490
92$956,721$0$0$730,227
93$910,122$0$0$692,344
94$854,228$0$0$647,058
95$787,948$0$0$593,501
96$710,075$0$0$530,715
97$619,274$0$0$457,641
98$514,070$0$0$373,106
99$392,832$0$0$275,815
100$253,756$0$0$164,336