Can I retire at age 63 with 706,000?

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 $706,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18%
1 years$58,301$57,782$57,275$56,780$56,297$54,474
2 years$28,862$28,324$27,803$27,298$26,808$24,988
3 years$19,050$18,510$17,991$17,490$17,008$15,248
4 years$14,145$13,607$13,093$12,601$12,130$10,445
5 years$11,203$10,668$10,160$9,679$9,221$7,614
6 years$9,242$8,711$8,211$7,740$7,297$5,769
7 years$7,842$7,316$6,823$6,364$5,934$4,487
8 years$6,793$6,271$5,787$5,338$4,923$3,554
9 years$5,977$5,460$4,984$4,547$4,146$2,854
10 years$5,324$4,813$4,345$3,920$3,532$2,316
11 years$4,791$4,284$3,826$3,411$3,038$1,894
12 years$4,347$3,845$3,395$2,992$2,633$1,559
13 years$3,971$3,475$3,033$2,642$2,296$1,290
14 years$3,650$3,159$2,725$2,345$2,012$1,072
15 years$3,371$2,886$2,461$2,091$1,772$894
16 years$3,128$2,648$2,231$1,872$1,566$747
17 years$2,913$2,438$2,030$1,682$1,389$626
18 years$2,723$2,253$1,853$1,516$1,235$525
19 years$2,553$2,088$1,697$1,370$1,100$441
20 years$2,399$1,940$1,557$1,241$983$372
21 years$2,261$1,807$1,432$1,126$880$313
22 years$2,136$1,687$1,320$1,024$788$264
23 years$2,021$1,578$1,219$932$708$223
24 years$1,916$1,478$1,127$850$636$188
25 years$1,820$1,387$1,044$777$572$159
26 years$1,731$1,304$968$710$516$134
27 years$1,650$1,227$899$650$465$114
28 years$1,574$1,156$836$596$419$96
29 years$1,503$1,091$778$546$379$81
30 years$1,437$1,030$724$501$342$69
31 years$1,376$974$675$460$309$58
32 years$1,318$922$630$423$280$49
33 years$1,264$873$588$389$253$42
34 years$1,214$827$550$358$229$35
35 years$1,166$785$514$330$208$30
36 years$1,121$745$481$303$188$25
37 years$1,079$707$450$280$171$22
38 years$1,039$672$421$258$155$18
39 years$1,001$639$395$238$140$15
40 years$965$608$370$219$127$13
41 years$931$579$347$202$115$11
42 years$899$551$326$187$105$9
43 years$868$525$305$172$95$8
44 years$839$501$287$159$86$7
45 years$811$477$269$147$78$6
46 years$784$455$253$136$71$5
47 years$759$435$238$125$65$4
48 years$735$415$223$116$59$3
49 years$712$396$210$107$53$3
50 years$689$378$197$99$48$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $706,000, adding $4,093 every year, while hoping to spend $29,552 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: 50/28/22 Blend
62$706,000$706,000$706,000$706,000
63$782,234$744,816$733,873$816,335
64$830,579$749,869$727,015$845,468
65$882,864$754,179$718,936$873,778
66$939,461$757,678$709,565$903,934
67$1,000,777$760,296$698,827$936,122
68$1,067,260$761,954$686,641$970,549
69$1,139,403$762,572$672,926$1,007,444
70$1,217,749$762,064$657,595$1,047,061
71$1,302,892$760,339$640,558$1,089,680
72$1,395,489$757,298$621,719$1,135,613
73$1,496,262$752,838$600,979$1,185,205
74$1,606,005$746,851$578,236$1,238,838
75$1,725,590$739,220$553,380$1,296,934
76$1,855,980$729,821$526,298$1,359,961
77$1,998,233$718,525$496,872$1,428,438
78$2,153,514$705,194$464,978$1,502,937
79$2,323,104$689,680$430,486$1,584,092
80$2,508,415$671,829$393,262$1,672,605
81$2,711,000$651,476$353,164$1,769,252
82$2,932,572$628,448$310,044$1,874,891
83$3,175,013$602,560$263,749$1,990,471
84$3,440,397$573,619$214,118$2,117,041
85$3,731,009$541,417$160,982$2,255,761
86$4,049,364$505,739$104,167$2,407,914
87$4,398,231$466,352$43,488$2,574,916
88$4,780,662$423,014$0$2,758,334
89$5,200,015$375,468$0$2,964,889
90$5,659,992$323,441$0$3,202,721
91$6,164,668$266,646$0$3,463,771
92$6,718,532$204,780$0$3,750,424
93$7,326,531$137,523$0$4,065,310
94$7,994,111$64,535$0$4,411,330
95$8,727,272$0$0$4,791,686
96$9,532,626$0$0$5,214,389
97$10,417,453$0$0$5,700,729
98$11,389,777$0$0$6,235,242
99$12,458,434$0$0$6,822,795
100$13,633,162$0$0$7,468,754