Can I retire at age 63 with 695,000?

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 $695,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.7%
1 years$57,392$56,881$56,382$55,896$55,420$53,263
2 years$28,412$27,883$27,370$26,873$26,391$24,244
3 years$18,753$18,222$17,710$17,218$16,743$14,674
4 years$13,925$13,395$12,889$12,404$11,941$9,965
5 years$11,028$10,502$10,002$9,528$9,078$7,200
6 years$9,098$8,576$8,083$7,619$7,183$5,405
7 years$7,720$7,202$6,717$6,264$5,842$4,162
8 years$6,687$6,173$5,697$5,255$4,846$3,264
9 years$5,884$5,375$4,907$4,476$4,081$2,594
10 years$5,241$4,738$4,278$3,858$3,477$2,082
11 years$4,716$4,218$3,766$3,358$2,991$1,685
12 years$4,279$3,786$3,342$2,945$2,592$1,371
13 years$3,909$3,421$2,986$2,600$2,260$1,121
14 years$3,593$3,110$2,683$2,308$1,981$921
15 years$3,319$2,841$2,422$2,059$1,744$758
16 years$3,079$2,606$2,196$1,843$1,542$626
17 years$2,868$2,400$1,998$1,656$1,367$518
18 years$2,680$2,218$1,824$1,493$1,215$429
19 years$2,513$2,056$1,670$1,349$1,083$356
20 years$2,362$1,910$1,533$1,221$968$296
21 years$2,226$1,779$1,410$1,109$866$246
22 years$2,102$1,661$1,299$1,008$776$205
23 years$1,990$1,553$1,200$918$697$171
24 years$1,887$1,455$1,110$837$626$142
25 years$1,792$1,366$1,028$765$564$118
26 years$1,705$1,284$953$699$508$99
27 years$1,624$1,208$885$640$458$82
28 years$1,549$1,138$823$586$413$69
29 years$1,479$1,074$766$538$373$57
30 years$1,415$1,014$713$493$337$48
31 years$1,354$959$665$453$305$40
32 years$1,298$907$620$416$276$33
33 years$1,245$859$579$383$249$28
34 years$1,195$814$541$352$226$23
35 years$1,148$772$506$324$204$19
36 years$1,104$733$473$299$185$16
37 years$1,062$696$443$275$168$14
38 years$1,023$662$415$254$152$11
39 years$985$629$389$234$138$9
40 years$950$599$364$216$125$8
41 years$917$570$342$199$114$7
42 years$885$543$320$184$103$6
43 years$855$517$301$170$94$5
44 years$826$493$282$157$85$4
45 years$798$470$265$145$77$3
46 years$772$448$249$134$70$3
47 years$747$428$234$123$64$2
48 years$723$408$220$114$58$2
49 years$700$390$207$105$52$2
50 years$679$373$194$97$48$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $695,000, adding $6,335 every year, while hoping to spend $57,155 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: 48/44/8 Blend
62$695,000$695,000$695,000$695,000
63$772,425$735,590$724,817$807,550
64$790,399$710,821$688,286$807,535
65$808,292$682,923$648,615$800,983
66$826,034$651,682$605,640$792,540
67$843,547$616,873$559,187$782,045
68$860,744$578,255$509,075$769,328
69$877,527$535,576$455,116$754,204
70$893,785$488,569$397,112$736,476
71$909,393$436,952$334,858$715,929
72$924,214$380,425$268,138$692,336
73$938,091$318,673$196,728$665,450
74$950,852$251,363$120,394$635,006
75$962,302$178,143$38,890$600,719
76$972,225$98,640$0$562,283
77$980,381$12,463$0$523,472
78$986,502$0$0$483,634
79$990,291$0$0$478,211
80$991,415$0$0$477,369
81$989,508$0$0$474,878
82$984,161$0$0$470,521
83$974,921$0$0$464,057
84$961,285$0$0$455,217
85$942,697$0$0$443,707
86$918,538$0$0$429,197
87$888,125$0$0$411,325
88$850,700$0$0$389,687
89$805,426$0$0$363,840
90$751,375$0$0$333,289
91$687,520$0$0$297,492
92$612,726$0$0$255,844
93$525,738$0$0$207,681
94$425,169$0$0$152,265
95$309,484$0$0$88,785
96$176,989$0$0$16,340
97$25,812$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0