Can I retire at age 63 with 701,000?

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 $701,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$57,888$57,372$56,869$56,378$55,899$55,246
2 years$28,657$28,124$27,606$27,105$26,618$25,961
3 years$18,915$18,379$17,863$17,366$16,888$16,247
4 years$14,045$13,511$13,000$12,511$12,045$11,425
5 years$11,124$10,592$10,088$9,610$9,156$8,559
6 years$9,177$8,650$8,153$7,685$7,245$6,672
7 years$7,787$7,264$6,775$6,318$5,892$5,343
8 years$6,745$6,226$5,746$5,300$4,888$4,362
9 years$5,934$5,421$4,949$4,515$4,116$3,614
10 years$5,287$4,779$4,315$3,892$3,507$3,029
11 years$4,757$4,254$3,798$3,387$3,016$2,560
12 years$4,316$3,818$3,371$2,971$2,614$2,180
13 years$3,943$3,451$3,012$2,623$2,279$1,868
14 years$3,624$3,136$2,706$2,328$1,998$1,607
15 years$3,347$2,865$2,443$2,076$1,759$1,389
16 years$3,106$2,629$2,215$1,859$1,555$1,205
17 years$2,893$2,421$2,016$1,670$1,379$1,048
18 years$2,703$2,237$1,840$1,505$1,226$914
19 years$2,534$2,073$1,685$1,360$1,093$798
20 years$2,382$1,927$1,546$1,232$976$699
21 years$2,245$1,795$1,422$1,118$873$612
22 years$2,121$1,675$1,311$1,017$783$538
23 years$2,007$1,567$1,210$926$703$473
24 years$1,903$1,468$1,119$844$632$416
25 years$1,807$1,378$1,037$771$568$366
26 years$1,719$1,295$961$705$512$323
27 years$1,638$1,219$893$645$462$285
28 years$1,562$1,148$830$591$417$251
29 years$1,492$1,083$772$542$376$222
30 years$1,427$1,023$719$498$340$196
31 years$1,366$967$671$457$307$173
32 years$1,309$915$626$420$278$153
33 years$1,255$867$584$386$252$135
34 years$1,205$821$546$355$228$120
35 years$1,158$779$510$327$206$106
36 years$1,113$739$477$301$187$94
37 years$1,071$702$447$278$169$83
38 years$1,032$667$418$256$154$73
39 years$994$635$392$236$139$65
40 years$958$604$367$218$126$58
41 years$925$575$345$201$115$51
42 years$892$547$323$185$104$45
43 years$862$522$303$171$94$40
44 years$833$497$285$158$86$35
45 years$805$474$267$146$78$31
46 years$779$452$251$135$71$28
47 years$754$432$236$124$64$25
48 years$729$412$222$115$58$22
49 years$706$393$208$106$53$19
50 years$684$376$196$98$48$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $701,000, adding $3,717 every year, while hoping to spend $41,008 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: 58/25/17 Blend
62$701,000$701,000$701,000$701,000
63$776,336$739,183$728,318$817,720
64$811,890$731,771$709,084$838,781
65$849,696$722,621$687,832$856,918
66$889,941$711,605$664,450$875,753
67$932,828$698,587$638,822$895,361
68$978,582$683,423$610,828$915,826
69$1,027,446$665,959$580,339$937,242
70$1,079,690$646,035$547,225$959,714
71$1,135,606$623,480$511,345$983,362
72$1,195,519$598,111$472,556$1,008,320
73$1,259,781$569,738$430,706$1,034,736
74$1,328,781$538,157$385,637$1,062,778
75$1,402,945$503,155$337,184$1,092,633
76$1,482,741$464,505$285,175$1,124,510
77$1,568,681$421,966$229,429$1,158,643
78$1,661,331$375,287$169,759$1,195,294
79$1,761,309$324,198$105,968$1,234,754
80$1,869,296$268,418$37,852$1,277,348
81$1,986,040$207,646$0$1,323,438
82$2,112,364$141,569$0$1,379,747
83$2,249,171$69,851$0$1,448,144
84$2,397,454$0$0$1,522,297
85$2,558,307$0$0$1,604,970
86$2,732,931$0$0$1,715,631
87$2,922,647$0$0$1,835,909
88$3,128,909$0$0$1,966,731
89$3,353,317$0$0$2,109,120
90$3,597,630$0$0$2,264,198
91$3,863,784$0$0$2,433,203
92$4,153,912$0$0$2,617,494
93$4,470,356$0$0$2,818,571
94$4,815,700$0$0$3,038,082
95$5,192,783$0$0$3,277,841
96$5,604,735$0$0$3,539,847
97$6,054,997$0$0$3,826,299
98$6,547,362$0$0$4,139,618
99$7,086,002$0$0$4,482,472
100$7,675,515$0$0$4,857,796