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%15.6%
1 years$57,888$57,372$56,869$56,378$55,899$54,614
2 years$28,657$28,124$27,606$27,105$26,618$25,331
3 years$18,915$18,379$17,863$17,366$16,888$15,638
4 years$14,045$13,511$13,000$12,511$12,045$10,842
5 years$11,124$10,592$10,088$9,610$9,156$8,004
6 years$9,177$8,650$8,153$7,685$7,245$6,145
7 years$7,787$7,264$6,775$6,318$5,892$4,844
8 years$6,745$6,226$5,746$5,300$4,888$3,892
9 years$5,934$5,421$4,949$4,515$4,116$3,171
10 years$5,287$4,779$4,315$3,892$3,507$2,612
11 years$4,757$4,254$3,798$3,387$3,016$2,170
12 years$4,316$3,818$3,371$2,971$2,614$1,815
13 years$3,943$3,451$3,012$2,623$2,279$1,526
14 years$3,624$3,136$2,706$2,328$1,998$1,289
15 years$3,347$2,865$2,443$2,076$1,759$1,093
16 years$3,106$2,629$2,215$1,859$1,555$929
17 years$2,893$2,421$2,016$1,670$1,379$792
18 years$2,703$2,237$1,840$1,505$1,226$677
19 years$2,534$2,073$1,685$1,360$1,093$579
20 years$2,382$1,927$1,546$1,232$976$496
21 years$2,245$1,795$1,422$1,118$873$426
22 years$2,121$1,675$1,311$1,017$783$366
23 years$2,007$1,567$1,210$926$703$315
24 years$1,903$1,468$1,119$844$632$271
25 years$1,807$1,378$1,037$771$568$233
26 years$1,719$1,295$961$705$512$201
27 years$1,638$1,219$893$645$462$174
28 years$1,562$1,148$830$591$417$150
29 years$1,492$1,083$772$542$376$129
30 years$1,427$1,023$719$498$340$112
31 years$1,366$967$671$457$307$96
32 years$1,309$915$626$420$278$83
33 years$1,255$867$584$386$252$72
34 years$1,205$821$546$355$228$62
35 years$1,158$779$510$327$206$54
36 years$1,113$739$477$301$187$46
37 years$1,071$702$447$278$169$40
38 years$1,032$667$418$256$154$35
39 years$994$635$392$236$139$30
40 years$958$604$367$218$126$26
41 years$925$575$345$201$115$22
42 years$892$547$323$185$104$19
43 years$862$522$303$171$94$17
44 years$833$497$285$158$86$14
45 years$805$474$267$146$78$13
46 years$779$452$251$135$71$11
47 years$754$432$236$124$64$9
48 years$729$412$222$115$58$8
49 years$706$393$208$106$53$7
50 years$684$376$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 $701,000, adding $5,604 every year, while hoping to spend $38,097 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: 70/9/21 Blend
62$701,000$701,000$701,000$701,000
63$778,283$741,130$730,264$828,351
64$817,132$736,910$714,193$858,271
65$858,668$731,207$696,307$885,997
66$903,123$723,907$676,504$915,412
67$950,755$714,891$654,680$946,679
68$1,001,843$704,032$630,723$979,980
69$1,056,697$691,195$604,518$1,015,514
70$1,115,654$676,239$575,944$1,053,504
71$1,179,088$659,011$544,875$1,094,195
72$1,247,405$639,353$511,178$1,137,857
73$1,321,054$617,095$474,716$1,184,791
74$1,400,528$592,059$435,345$1,235,328
75$1,486,367$564,054$392,914$1,289,835
76$1,579,165$532,882$347,266$1,348,718
77$1,679,576$498,329$298,235$1,412,425
78$1,788,318$460,173$245,652$1,481,452
79$1,906,181$418,175$189,335$1,556,347
80$2,034,032$372,087$129,099$1,637,716
81$2,172,827$321,643$64,747$1,726,227
82$2,323,616$266,564$0$1,822,621
83$2,487,554$206,555$0$1,928,594
84$2,665,912$141,303$0$2,059,710
85$2,860,088$70,480$0$2,202,493
86$3,071,621$0$0$2,358,096
87$3,302,204$0$0$2,528,410
88$3,553,701$0$0$2,721,819
89$3,828,163$0$0$2,932,924
90$4,127,847$0$0$3,163,467
91$4,455,239$0$0$3,415,364
92$4,813,076$0$0$3,690,725
93$5,204,369$0$0$3,991,872
94$5,632,435$0$0$4,321,365
95$6,100,927$0$0$4,682,019
96$6,613,865$0$0$5,076,936
97$7,175,678$0$0$5,509,531
98$7,791,242$0$0$5,983,566
99$8,465,929$0$0$6,503,181
100$9,205,654$0$0$7,072,940