Can I retire at age 63 with 698,000?

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 $698,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$57,640$57,127$56,626$56,137$55,660$54,204
2 years$28,535$28,003$27,488$26,989$26,505$25,048
3 years$18,834$18,300$17,787$17,292$16,816$15,404
4 years$13,985$13,453$12,944$12,458$11,993$10,637
5 years$11,076$10,547$10,045$9,569$9,117$7,820
6 years$9,137$8,613$8,118$7,652$7,214$5,977
7 years$7,753$7,233$6,746$6,291$5,867$4,691
8 years$6,716$6,200$5,721$5,278$4,867$3,751
9 years$5,909$5,398$4,928$4,495$4,099$3,042
10 years$5,264$4,758$4,296$3,875$3,492$2,493
11 years$4,737$4,236$3,782$3,373$3,004$2,060
12 years$4,298$3,802$3,357$2,958$2,603$1,714
13 years$3,926$3,436$2,999$2,612$2,270$1,434
14 years$3,608$3,123$2,695$2,318$1,990$1,204
15 years$3,333$2,853$2,433$2,067$1,752$1,015
16 years$3,092$2,618$2,206$1,851$1,548$858
17 years$2,880$2,411$2,007$1,663$1,373$728
18 years$2,692$2,228$1,832$1,499$1,221$618
19 years$2,524$2,064$1,677$1,354$1,088$526
20 years$2,372$1,918$1,539$1,227$972$448
21 years$2,236$1,787$1,416$1,113$870$382
22 years$2,111$1,668$1,305$1,012$780$326
23 years$1,998$1,560$1,205$922$700$279
24 years$1,895$1,462$1,114$841$629$239
25 years$1,800$1,372$1,032$768$566$204
26 years$1,712$1,289$957$702$510$175
27 years$1,631$1,213$889$643$460$150
28 years$1,556$1,143$826$589$415$128
29 years$1,486$1,079$769$540$374$110
30 years$1,421$1,019$716$496$338$94
31 years$1,360$963$668$455$306$81
32 years$1,303$911$623$418$277$69
33 years$1,250$863$582$385$250$60
34 years$1,200$818$544$354$227$51
35 years$1,153$776$508$326$205$44
36 years$1,109$736$475$300$186$38
37 years$1,067$699$445$276$169$32
38 years$1,027$664$417$255$153$28
39 years$990$632$390$235$139$24
40 years$954$601$366$217$126$21
41 years$921$572$343$200$114$18
42 years$889$545$322$185$104$15
43 years$858$519$302$170$94$13
44 years$829$495$283$157$85$11
45 years$802$472$266$145$77$10
46 years$775$450$250$134$70$8
47 years$750$430$235$124$64$7
48 years$726$410$221$115$58$6
49 years$703$392$207$106$53$5
50 years$681$374$195$98$48$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $698,000, adding $4,483 every year, while hoping to spend $42,211 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: 38/37/25 Blend
62$698,000$698,000$698,000$698,000
63$773,820$736,826$726,007$797,310
64$807,838$728,019$705,416$806,049
65$843,910$717,365$682,721$811,248
66$882,203$704,729$657,806$816,037
67$922,896$689,969$630,551$820,405
68$966,187$672,934$600,830$824,344
69$1,012,293$653,462$568,512$827,848
70$1,061,449$631,384$533,459$830,915
71$1,113,915$606,520$495,529$833,545
72$1,169,974$578,679$454,569$835,747
73$1,229,939$547,662$410,424$837,532
74$1,294,150$513,254$362,931$838,917
75$1,362,981$475,232$311,917$839,928
76$1,436,843$433,356$257,204$840,599
77$1,516,186$387,376$198,605$840,972
78$1,601,505$337,025$135,927$841,101
79$1,693,343$282,024$68,964$841,052
80$1,792,295$222,074$0$840,905
81$1,899,017$156,863$0$841,421
82$2,014,227$86,060$0$861,723
83$2,138,717$9,316$0$883,590
84$2,273,354$0$0$907,242
85$2,419,093$0$0$962,950
86$2,576,985$0$0$1,027,491
87$2,748,182$0$0$1,097,555
88$2,933,955$0$0$1,173,671
89$3,135,698$0$0$1,256,422
90$3,354,947$0$0$1,346,449
91$3,593,391$0$0$1,444,458
92$3,852,887$0$0$1,551,225
93$4,135,481$0$0$1,667,605
94$4,443,422$0$0$1,794,537
95$4,779,185$0$0$1,933,056
96$5,145,496$0$0$2,084,302
97$5,545,355$0$0$2,249,528
98$5,982,062$0$0$2,430,115
99$6,459,252$0$0$2,627,583
100$6,980,926$0$0$2,843,604