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%19.6%
1 years$57,888$57,372$56,869$56,378$55,899$53,745
2 years$28,657$28,124$27,606$27,105$26,618$24,474
3 years$18,915$18,379$17,863$17,366$16,888$14,820
4 years$14,045$13,511$13,000$12,511$12,045$10,070
5 years$11,124$10,592$10,088$9,610$9,156$7,279
6 years$9,177$8,650$8,153$7,685$7,245$5,467
7 years$7,787$7,264$6,775$6,318$5,892$4,213
8 years$6,745$6,226$5,746$5,300$4,888$3,306
9 years$5,934$5,421$4,949$4,515$4,116$2,629
10 years$5,287$4,779$4,315$3,892$3,507$2,112
11 years$4,757$4,254$3,798$3,387$3,016$1,709
12 years$4,316$3,818$3,371$2,971$2,614$1,392
13 years$3,943$3,451$3,012$2,623$2,279$1,139
14 years$3,624$3,136$2,706$2,328$1,998$936
15 years$3,347$2,865$2,443$2,076$1,759$771
16 years$3,106$2,629$2,215$1,859$1,555$637
17 years$2,893$2,421$2,016$1,670$1,379$528
18 years$2,703$2,237$1,840$1,505$1,226$438
19 years$2,534$2,073$1,685$1,360$1,093$363
20 years$2,382$1,927$1,546$1,232$976$302
21 years$2,245$1,795$1,422$1,118$873$251
22 years$2,121$1,675$1,311$1,017$783$209
23 years$2,007$1,567$1,210$926$703$175
24 years$1,903$1,468$1,119$844$632$146
25 years$1,807$1,378$1,037$771$568$121
26 years$1,719$1,295$961$705$512$101
27 years$1,638$1,219$893$645$462$85
28 years$1,562$1,148$830$591$417$71
29 years$1,492$1,083$772$542$376$59
30 years$1,427$1,023$719$498$340$49
31 years$1,366$967$671$457$307$41
32 years$1,309$915$626$420$278$34
33 years$1,255$867$584$386$252$29
34 years$1,205$821$546$355$228$24
35 years$1,158$779$510$327$206$20
36 years$1,113$739$477$301$187$17
37 years$1,071$702$447$278$169$14
38 years$1,032$667$418$256$154$12
39 years$994$635$392$236$139$10
40 years$958$604$367$218$126$8
41 years$925$575$345$201$115$7
42 years$892$547$323$185$104$6
43 years$862$522$303$171$94$5
44 years$833$497$285$158$86$4
45 years$805$474$267$146$78$3
46 years$779$452$251$135$71$3
47 years$754$432$236$124$64$2
48 years$729$412$222$115$58$2
49 years$706$393$208$106$53$2
50 years$684$376$196$98$48$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $701,000, adding $2,532 every year, while hoping to spend $50,009 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: 71/17/12 Blend
62$701,000$701,000$701,000$701,000
63$775,114$737,961$727,095$828,018
64$800,966$720,912$698,244$846,359
65$827,779$701,351$666,750$860,086
66$855,599$679,103$632,472$873,780
67$884,472$653,982$595,262$887,428
68$914,451$625,790$554,966$901,015
69$945,591$594,319$511,423$914,528
70$977,950$559,349$464,464$927,952
71$1,011,590$520,646$413,913$941,273
72$1,046,579$477,965$359,586$954,476
73$1,082,989$431,044$301,291$967,549
74$1,120,897$379,608$238,827$980,477
75$1,160,386$323,366$171,985$993,249
76$1,201,545$262,011$100,547$1,005,851
77$1,244,471$195,218$24,283$1,018,274
78$1,289,266$122,644$0$1,030,507
79$1,336,044$43,925$0$1,049,855
80$1,384,924$0$0$1,072,794
81$1,436,037$0$0$1,103,969
82$1,489,523$0$0$1,145,200
83$1,545,536$0$0$1,188,388
84$1,604,241$0$0$1,233,663
85$1,665,817$0$0$1,281,163
86$1,730,459$0$0$1,331,041
87$1,798,379$0$0$1,383,461
88$1,869,805$0$0$1,438,603
89$1,944,990$0$0$1,496,660
90$2,024,203$0$0$1,557,847
91$2,107,742$0$0$1,622,393
92$2,195,930$0$0$1,690,550
93$2,289,119$0$0$1,762,594
94$2,387,693$0$0$1,838,824
95$2,492,072$0$0$1,919,567
96$2,602,714$0$0$2,005,182
97$2,720,119$0$0$2,096,058
98$2,844,836$0$0$2,192,624
99$2,977,462$0$0$2,295,347
100$3,118,654$0$0$2,404,738