Can I retire at age 63 with 706,000?

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 $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%12.5%
1 years$58,301$57,782$57,275$56,780$56,297$55,710
2 years$28,862$28,324$27,803$27,298$26,808$26,216
3 years$19,050$18,510$17,991$17,490$17,008$16,430
4 years$14,145$13,607$13,093$12,601$12,130$11,571
5 years$11,203$10,668$10,160$9,679$9,221$8,683
6 years$9,242$8,711$8,211$7,740$7,297$6,779
7 years$7,842$7,316$6,823$6,364$5,934$5,437
8 years$6,793$6,271$5,787$5,338$4,923$4,447
9 years$5,977$5,460$4,984$4,547$4,146$3,691
10 years$5,324$4,813$4,345$3,920$3,532$3,099
11 years$4,791$4,284$3,826$3,411$3,038$2,625
12 years$4,347$3,845$3,395$2,992$2,633$2,239
13 years$3,971$3,475$3,033$2,642$2,296$1,922
14 years$3,650$3,159$2,725$2,345$2,012$1,657
15 years$3,371$2,886$2,461$2,091$1,772$1,435
16 years$3,128$2,648$2,231$1,872$1,566$1,247
17 years$2,913$2,438$2,030$1,682$1,389$1,087
18 years$2,723$2,253$1,853$1,516$1,235$950
19 years$2,553$2,088$1,697$1,370$1,100$832
20 years$2,399$1,940$1,557$1,241$983$730
21 years$2,261$1,807$1,432$1,126$880$641
22 years$2,136$1,687$1,320$1,024$788$564
23 years$2,021$1,578$1,219$932$708$497
24 years$1,916$1,478$1,127$850$636$438
25 years$1,820$1,387$1,044$777$572$387
26 years$1,731$1,304$968$710$516$342
27 years$1,650$1,227$899$650$465$302
28 years$1,574$1,156$836$596$419$267
29 years$1,503$1,091$778$546$379$237
30 years$1,437$1,030$724$501$342$209
31 years$1,376$974$675$460$309$186
32 years$1,318$922$630$423$280$164
33 years$1,264$873$588$389$253$146
34 years$1,214$827$550$358$229$129
35 years$1,166$785$514$330$208$115
36 years$1,121$745$481$303$188$102
37 years$1,079$707$450$280$171$90
38 years$1,039$672$421$258$155$80
39 years$1,001$639$395$238$140$71
40 years$965$608$370$219$127$63
41 years$931$579$347$202$115$56
42 years$899$551$326$187$105$50
43 years$868$525$305$172$95$44
44 years$839$501$287$159$86$39
45 years$811$477$269$147$78$35
46 years$784$455$253$136$71$31
47 years$759$435$238$125$65$28
48 years$735$415$223$116$59$24
49 years$712$396$210$107$53$22
50 years$689$378$197$99$48$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $706,000, adding $6,863 every year, while hoping to spend $30,153 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: 84/10/6 Blend
62$706,000$706,000$706,000$706,000
63$785,091$747,673$736,730$850,203
64$833,088$752,227$729,328$898,278
65$884,970$755,993$720,667$946,255
66$941,101$758,901$710,674$997,997
67$1,001,882$760,876$699,271$1,053,860
68$1,067,755$761,839$686,376$1,114,241
69$1,139,201$761,705$671,906$1,179,572
70$1,216,756$760,384$655,771$1,250,333
71$1,301,003$757,781$637,877$1,327,050
72$1,392,589$753,796$618,129$1,410,302
73$1,492,220$748,319$596,424$1,500,728
74$1,600,678$741,239$572,656$1,599,033
75$1,718,821$732,433$546,714$1,705,991
76$1,847,593$721,774$518,481$1,822,455
77$1,988,033$709,127$487,836$1,949,367
78$2,141,286$694,348$454,652$2,087,762
79$2,308,611$677,284$418,796$2,238,782
80$2,491,393$657,775$380,130$2,403,684
81$2,691,160$635,650$338,508$2,583,856
82$2,909,590$610,729$293,780$2,780,823
83$3,148,534$582,821$245,788$2,996,269
84$3,410,028$551,723$194,366$3,232,047
85$3,696,316$517,222$139,342$3,490,201
86$4,009,867$479,093$80,536$3,772,981
87$4,353,400$437,095$17,761$4,082,871
88$4,729,912$390,978$0$4,422,602
89$5,142,700$340,473$0$4,798,341
90$5,595,399$285,299$0$5,211,674
91$6,092,009$225,159$0$5,665,137
92$6,636,939$159,736$0$6,162,776
93$7,235,043$88,699$0$6,709,051
94$7,891,669$11,698$0$7,308,875
95$8,612,709$0$0$7,967,664
96$9,404,652$0$0$8,699,266
97$10,274,647$0$0$9,504,400
98$11,230,569$0$0$10,389,068
99$12,281,094$0$0$11,361,303
100$13,435,780$0$0$12,429,950