Can I retire at age 63 with 704,000?

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 $704,000?

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$58,136$57,618$57,113$56,619$56,138$54,670
2 years$28,780$28,244$27,725$27,221$26,732$25,263
3 years$18,996$18,458$17,940$17,441$16,960$15,536
4 years$14,105$13,568$13,055$12,565$12,096$10,728
5 years$11,171$10,638$10,132$9,651$9,195$7,887
6 years$9,216$8,687$8,188$7,718$7,276$6,029
7 years$7,820$7,295$6,804$6,345$5,917$4,731
8 years$6,773$6,253$5,770$5,323$4,909$3,783
9 years$5,960$5,444$4,970$4,534$4,134$3,068
10 years$5,309$4,799$4,333$3,908$3,522$2,514
11 years$4,777$4,272$3,815$3,401$3,029$2,078
12 years$4,335$3,835$3,385$2,984$2,625$1,729
13 years$3,960$3,465$3,025$2,634$2,289$1,446
14 years$3,639$3,150$2,718$2,338$2,007$1,215
15 years$3,362$2,877$2,454$2,085$1,767$1,024
16 years$3,119$2,640$2,225$1,867$1,562$866
17 years$2,905$2,431$2,024$1,678$1,385$734
18 years$2,715$2,247$1,848$1,512$1,231$623
19 years$2,545$2,082$1,692$1,366$1,097$530
20 years$2,393$1,935$1,553$1,237$980$452
21 years$2,255$1,802$1,428$1,123$877$385
22 years$2,130$1,682$1,316$1,021$786$329
23 years$2,015$1,573$1,215$930$706$281
24 years$1,911$1,474$1,124$848$634$241
25 years$1,815$1,384$1,041$774$571$206
26 years$1,727$1,300$965$708$514$176
27 years$1,645$1,224$897$648$464$151
28 years$1,569$1,153$833$594$418$129
29 years$1,499$1,088$776$545$378$111
30 years$1,433$1,027$722$500$341$95
31 years$1,372$971$673$459$309$82
32 years$1,314$919$628$422$279$70
33 years$1,261$870$587$388$253$60
34 years$1,210$825$548$357$229$52
35 years$1,163$782$513$329$207$44
36 years$1,118$743$479$303$188$38
37 years$1,076$705$449$279$170$33
38 years$1,036$670$420$257$154$28
39 years$998$637$394$237$140$24
40 years$962$606$369$219$127$21
41 years$929$577$346$202$115$18
42 years$896$550$325$186$104$15
43 years$866$524$305$172$95$13
44 years$836$499$286$159$86$11
45 years$809$476$268$146$78$10
46 years$782$454$252$135$71$8
47 years$757$433$237$125$64$7
48 years$733$414$223$116$58$6
49 years$709$395$209$107$53$5
50 years$687$377$197$99$48$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $704,000, adding $6,491 every year, while hoping to spend $52,235 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: 56/38/6 Blend
62$704,000$704,000$704,000$704,000
63$782,503$745,191$734,279$824,959
64$806,741$726,128$703,300$835,238
65$831,700$704,380$669,532$840,014
66$857,400$679,761$632,828$843,924
67$883,858$652,072$593,030$846,891
68$911,093$621,105$549,979$848,835
69$939,124$586,639$503,503$849,666
70$967,970$548,440$453,425$849,295
71$997,650$506,260$399,562$847,621
72$1,028,181$459,838$341,719$844,540
73$1,059,584$408,898$279,694$839,942
74$1,091,875$353,148$213,277$833,707
75$1,125,072$292,278$142,248$825,711
76$1,159,193$225,963$66,377$815,820
77$1,194,254$153,859$0$803,893
78$1,230,272$75,602$0$790,712
79$1,267,260$0$0$779,780
80$1,305,234$0$0$770,534
81$1,344,206$0$0$793,483
82$1,384,186$0$0$817,021
83$1,425,186$0$0$841,151
84$1,467,211$0$0$865,877
85$1,510,267$0$0$891,201
86$1,554,357$0$0$917,124
87$1,599,481$0$0$943,645
88$1,645,634$0$0$970,759
89$1,692,810$0$0$998,462
90$1,740,997$0$0$1,026,743
91$1,790,177$0$0$1,055,592
92$1,840,329$0$0$1,084,993
93$1,891,425$0$0$1,114,928
94$1,943,429$0$0$1,145,373
95$1,996,298$0$0$1,176,300
96$2,049,981$0$0$1,207,676
97$2,104,417$0$0$1,239,461
98$2,159,533$0$0$1,271,609
99$2,215,246$0$0$1,304,066
100$2,271,458$0$0$1,336,771