Can I retire at age 63 with 700,000?

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 $700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.5%
1 years$57,805$57,290$56,788$56,298$55,819$54,558
2 years$28,617$28,084$27,567$27,066$26,580$25,317
3 years$18,888$18,353$17,838$17,342$16,864$15,637
4 years$14,025$13,491$12,981$12,494$12,027$10,847
5 years$11,108$10,577$10,074$9,596$9,143$8,012
6 years$9,164$8,637$8,141$7,674$7,235$6,154
7 years$7,776$7,254$6,765$6,309$5,884$4,854
8 years$6,735$6,218$5,738$5,293$4,881$3,902
9 years$5,926$5,414$4,942$4,508$4,111$3,182
10 years$5,279$4,772$4,308$3,886$3,502$2,622
11 years$4,750$4,248$3,793$3,382$3,012$2,180
12 years$4,310$3,813$3,366$2,967$2,610$1,824
13 years$3,938$3,446$3,008$2,619$2,276$1,535
14 years$3,619$3,132$2,702$2,325$1,995$1,297
15 years$3,343$2,861$2,440$2,073$1,757$1,101
16 years$3,101$2,625$2,212$1,857$1,553$936
17 years$2,889$2,418$2,013$1,668$1,377$799
18 years$2,700$2,234$1,837$1,503$1,224$683
19 years$2,531$2,070$1,682$1,358$1,091$585
20 years$2,379$1,924$1,544$1,230$975$502
21 years$2,242$1,792$1,420$1,117$872$431
22 years$2,117$1,673$1,309$1,015$782$371
23 years$2,004$1,565$1,208$925$702$319
24 years$1,900$1,466$1,118$843$631$275
25 years$1,805$1,376$1,035$770$568$237
26 years$1,717$1,293$960$704$511$204
27 years$1,635$1,217$891$645$461$176
28 years$1,560$1,147$829$591$416$152
29 years$1,490$1,082$771$542$376$132
30 years$1,425$1,021$718$497$339$114
31 years$1,364$966$670$456$307$98
32 years$1,307$914$625$419$278$85
33 years$1,254$865$583$386$251$73
34 years$1,203$820$545$355$227$63
35 years$1,156$778$510$327$206$55
36 years$1,112$738$477$301$187$47
37 years$1,070$701$446$277$169$41
38 years$1,030$666$418$256$153$36
39 years$993$634$391$236$139$31
40 years$957$603$367$217$126$27
41 years$923$574$344$201$114$23
42 years$891$547$323$185$104$20
43 years$861$521$303$171$94$17
44 years$832$496$284$158$86$15
45 years$804$473$267$146$78$13
46 years$778$452$251$135$70$11
47 years$753$431$236$124$64$10
48 years$728$411$221$115$58$8
49 years$705$393$208$106$53$7
50 years$683$375$196$98$48$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $700,000, adding $3,945 every year, while hoping to spend $51,783 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: 73/15/12 Blend
62$700,000$700,000$700,000$700,000
63$775,469$738,369$727,519$829,894
64$799,470$719,453$696,794$847,493
65$824,184$697,874$663,305$859,975
66$849,628$673,447$626,903$872,239
67$875,821$645,977$587,435$884,252
68$902,781$615,256$544,740$895,974
69$930,526$581,065$498,651$907,367
70$959,075$543,171$448,990$918,385
71$988,445$501,331$395,575$928,984
72$1,018,654$455,284$338,215$939,111
73$1,049,720$404,757$276,709$948,715
74$1,081,661$349,459$210,848$957,738
75$1,114,493$289,085$140,414$966,118
76$1,148,232$223,312$65,179$973,790
77$1,182,896$151,797$0$980,683
78$1,218,497$74,181$0$988,656
79$1,255,050$0$0$1,004,727
80$1,292,569$0$0$1,022,124
81$1,331,063$0$0$1,052,534
82$1,370,544$0$0$1,083,719
83$1,411,018$0$0$1,115,686
84$1,452,492$0$0$1,148,439
85$1,494,970$0$0$1,181,979
86$1,538,451$0$0$1,216,307
87$1,582,934$0$0$1,251,421
88$1,628,412$0$0$1,287,313
89$1,674,875$0$0$1,323,977
90$1,722,310$0$0$1,361,399
91$1,770,695$0$0$1,399,563
92$1,820,006$0$0$1,438,448
93$1,870,211$0$0$1,478,027
94$1,921,271$0$0$1,518,268
95$1,973,138$0$0$1,559,132
96$2,025,756$0$0$1,600,574
97$2,079,059$0$0$1,642,539
98$2,132,969$0$0$1,684,963
99$2,187,396$0$0$1,727,773
100$2,242,236$0$0$1,770,885