Can I retire at age 63 with 707,000?

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 $707,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$58,383$57,863$57,356$56,861$56,377$55,329
2 years$28,903$28,364$27,843$27,337$26,846$25,795
3 years$19,077$18,536$18,016$17,515$17,032$16,010
4 years$14,165$13,626$13,111$12,619$12,148$11,162
5 years$11,219$10,683$10,175$9,692$9,234$8,288
6 years$9,255$8,724$8,223$7,751$7,307$6,401
7 years$7,853$7,326$6,833$6,373$5,942$5,077
8 years$6,802$6,280$5,795$5,346$4,930$4,105
9 years$5,985$5,468$4,991$4,553$4,152$3,367
10 years$5,332$4,819$4,351$3,925$3,537$2,792
11 years$4,798$4,291$3,831$3,416$3,042$2,336
12 years$4,353$3,851$3,400$2,996$2,636$1,967
13 years$3,977$3,480$3,038$2,645$2,299$1,667
14 years$3,655$3,163$2,729$2,348$2,015$1,418
15 years$3,376$2,890$2,464$2,094$1,774$1,211
16 years$3,132$2,651$2,234$1,875$1,568$1,038
17 years$2,917$2,442$2,033$1,685$1,390$892
18 years$2,727$2,256$1,856$1,518$1,236$768
19 years$2,556$2,091$1,699$1,372$1,102$663
20 years$2,403$1,943$1,559$1,243$984$573
21 years$2,264$1,810$1,434$1,128$881$496
22 years$2,139$1,690$1,322$1,025$790$430
23 years$2,024$1,580$1,220$934$709$373
24 years$1,919$1,481$1,129$852$637$324
25 years$1,823$1,389$1,045$778$573$281
26 years$1,734$1,306$970$711$516$245
27 years$1,652$1,229$900$651$466$213
28 years$1,576$1,158$837$596$420$185
29 years$1,505$1,092$779$547$379$161
30 years$1,439$1,032$725$502$343$141
31 years$1,378$975$676$461$310$122
32 years$1,320$923$631$424$280$107
33 years$1,266$874$589$390$254$93
34 years$1,215$828$551$358$230$81
35 years$1,168$786$515$330$208$71
36 years$1,123$746$481$304$188$62
37 years$1,080$708$451$280$171$54
38 years$1,040$673$422$258$155$47
39 years$1,003$640$395$238$140$41
40 years$967$609$371$219$127$36
41 years$932$580$348$203$116$31
42 years$900$552$326$187$105$27
43 years$869$526$306$173$95$24
44 years$840$501$287$159$86$21
45 years$812$478$270$147$78$18
46 years$785$456$253$136$71$16
47 years$760$435$238$126$65$14
48 years$736$415$224$116$59$12
49 years$713$397$210$107$53$11
50 years$690$379$198$99$48$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $707,000, adding $3,342 every year, while hoping to spend $48,567 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: 33/42/25 Blend
62$707,000$707,000$707,000$707,000
63$782,561$745,090$734,132$802,324
64$810,708$729,925$707,050$802,332
65$840,097$712,388$677,434$797,743
66$870,805$692,314$645,146$791,829
67$902,914$669,524$610,045$784,504
68$936,511$643,830$571,981$775,679
69$971,692$615,035$530,800$765,261
70$1,008,561$582,928$486,338$753,155
71$1,047,230$547,287$438,426$739,258
72$1,087,821$507,877$386,886$723,466
73$1,130,466$464,450$331,534$705,670
74$1,175,308$416,744$272,176$685,757
75$1,222,505$364,480$208,609$663,609
76$1,272,227$307,365$140,624$639,105
77$1,324,658$245,090$67,999$612,119
78$1,380,002$177,328$0$582,520
79$1,438,477$103,733$0$552,711
80$1,500,326$23,939$0$539,540
81$1,565,809$0$0$524,774
82$1,635,213$0$0$537,195
83$1,708,852$0$0$562,164
84$1,787,068$0$0$588,741
85$1,870,236$0$0$617,060
86$1,958,764$0$0$647,267
87$2,053,101$0$0$679,525
88$2,153,740$0$0$714,009
89$2,261,217$0$0$750,914
90$2,376,122$0$0$790,451
91$2,499,101$0$0$832,854
92$2,630,864$0$0$878,378
93$2,772,188$0$0$927,303
94$2,923,925$0$0$979,938
95$3,087,013$0$0$1,036,620
96$3,262,478$0$0$1,097,720
97$3,451,448$0$0$1,163,647
98$3,655,165$0$0$1,234,848
99$3,874,987$0$0$1,311,815
100$4,112,412$0$0$1,395,090