Can I retire at age 63 with 693,000?

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 $693,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$57,227$56,718$56,220$55,735$55,261$54,821
2 years$28,330$27,803$27,291$26,796$26,315$25,871
3 years$18,699$18,169$17,659$17,168$16,695$16,262
4 years$13,885$13,356$12,851$12,369$11,907$11,487
5 years$10,997$10,472$9,973$9,500$9,052$8,646
6 years$9,072$8,551$8,060$7,598$7,162$6,772
7 years$7,698$7,181$6,698$6,246$5,825$5,450
8 years$6,668$6,155$5,680$5,240$4,832$4,473
9 years$5,867$5,359$4,892$4,463$4,069$3,726
10 years$5,226$4,724$4,265$3,847$3,467$3,139
11 years$4,703$4,206$3,755$3,348$2,982$2,669
12 years$4,267$3,775$3,333$2,937$2,584$2,285
13 years$3,898$3,411$2,977$2,593$2,253$1,969
14 years$3,583$3,101$2,675$2,302$1,975$1,705
15 years$3,309$2,833$2,415$2,053$1,739$1,482
16 years$3,070$2,599$2,190$1,838$1,537$1,294
17 years$2,860$2,393$1,993$1,651$1,363$1,132
18 years$2,673$2,212$1,819$1,488$1,212$993
19 years$2,506$2,050$1,665$1,345$1,080$874
20 years$2,355$1,905$1,528$1,218$965$770
21 years$2,220$1,774$1,406$1,105$863$679
22 years$2,096$1,656$1,296$1,005$774$600
23 years$1,984$1,549$1,196$915$695$531
24 years$1,881$1,451$1,106$835$624$471
25 years$1,787$1,362$1,025$762$562$418
26 years$1,700$1,280$950$697$506$371
27 years$1,619$1,205$882$638$456$329
28 years$1,545$1,135$820$585$412$293
29 years$1,475$1,071$763$536$372$260
30 years$1,411$1,011$711$492$336$232
31 years$1,350$956$663$452$304$206
32 years$1,294$905$619$415$275$184
33 years$1,241$857$578$382$249$164
34 years$1,191$812$540$351$225$146
35 years$1,145$770$505$323$204$130
36 years$1,101$731$472$298$185$116
37 years$1,059$694$442$274$167$103
38 years$1,020$660$414$253$152$92
39 years$983$627$388$233$138$82
40 years$947$597$363$215$125$73
41 years$914$568$341$198$113$66
42 years$882$541$320$183$103$59
43 years$852$516$300$169$93$52
44 years$823$491$281$156$85$47
45 years$796$469$264$144$77$42
46 years$770$447$248$133$70$37
47 years$745$427$233$123$63$33
48 years$721$407$219$114$58$30
49 years$698$389$206$105$52$27
50 years$677$372$194$97$47$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $693,000, adding $6,000 every year, while hoping to spend $58,454 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: 72/15/13 Blend
62$693,000$693,000$693,000$693,000
63$769,875$733,146$722,405$822,742
64$786,208$706,876$684,410$832,285
65$802,247$677,359$643,184$834,995
66$817,902$644,375$598,557$836,402
67$833,069$607,690$550,349$836,364
68$847,632$567,058$498,377$834,726
69$861,464$522,216$442,445$831,319
70$874,418$472,890$382,352$825,957
71$886,334$418,787$317,886$818,438
72$897,031$359,599$248,827$808,541
73$906,309$294,999$174,943$796,025
74$913,943$224,645$95,994$780,625
75$919,684$148,171$11,728$762,053
76$923,255$65,195$0$739,994
77$924,348$0$0$724,949
78$922,620$0$0$712,211
79$917,692$0$0$707,676
80$909,141$0$0$700,248
81$896,500$0$0$689,553
82$879,251$0$0$675,181
83$856,818$0$0$656,675
84$828,566$0$0$633,529
85$793,789$0$0$605,183
86$751,707$0$0$571,018
87$701,457$0$0$530,346
88$642,083$0$0$482,411
89$572,529$0$0$426,372
90$491,626$0$0$361,302
91$398,084$0$0$286,175
92$290,474$0$0$199,858
93$167,219$0$0$101,098
94$26,576$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