Can I retire at age 63 with 707,000?

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 $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%12.2%
1 years$58,383$57,863$57,356$56,861$56,377$55,858
2 years$28,903$28,364$27,843$27,337$26,846$26,323
3 years$19,077$18,536$18,016$17,515$17,032$16,522
4 years$14,165$13,626$13,111$12,619$12,148$11,653
5 years$11,219$10,683$10,175$9,692$9,234$8,758
6 years$9,255$8,724$8,223$7,751$7,307$6,848
7 years$7,853$7,326$6,833$6,373$5,942$5,503
8 years$6,802$6,280$5,795$5,346$4,930$4,508
9 years$5,985$5,468$4,991$4,553$4,152$3,749
10 years$5,332$4,819$4,351$3,925$3,537$3,152
11 years$4,798$4,291$3,831$3,416$3,042$2,675
12 years$4,353$3,851$3,400$2,996$2,636$2,287
13 years$3,977$3,480$3,038$2,645$2,299$1,966
14 years$3,655$3,163$2,729$2,348$2,015$1,699
15 years$3,376$2,890$2,464$2,094$1,774$1,474
16 years$3,132$2,651$2,234$1,875$1,568$1,284
17 years$2,917$2,442$2,033$1,685$1,390$1,121
18 years$2,727$2,256$1,856$1,518$1,236$982
19 years$2,556$2,091$1,699$1,372$1,102$862
20 years$2,403$1,943$1,559$1,243$984$757
21 years$2,264$1,810$1,434$1,128$881$667
22 years$2,139$1,690$1,322$1,025$790$588
23 years$2,024$1,580$1,220$934$709$519
24 years$1,919$1,481$1,129$852$637$459
25 years$1,823$1,389$1,045$778$573$406
26 years$1,734$1,306$970$711$516$360
27 years$1,652$1,229$900$651$466$319
28 years$1,576$1,158$837$596$420$283
29 years$1,505$1,092$779$547$379$251
30 years$1,439$1,032$725$502$343$223
31 years$1,378$975$676$461$310$198
32 years$1,320$923$631$424$280$176
33 years$1,266$874$589$390$254$156
34 years$1,215$828$551$358$230$139
35 years$1,168$786$515$330$208$123
36 years$1,123$746$481$304$188$110
37 years$1,080$708$451$280$171$98
38 years$1,040$673$422$258$155$87
39 years$1,003$640$395$238$140$77
40 years$967$609$371$219$127$69
41 years$932$580$348$203$116$61
42 years$900$552$326$187$105$55
43 years$869$526$306$173$95$49
44 years$840$501$287$159$86$43
45 years$812$478$270$147$78$39
46 years$785$456$253$136$71$34
47 years$760$435$238$126$65$31
48 years$736$415$224$116$59$27
49 years$713$397$210$107$53$24
50 years$690$379$198$99$48$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $707,000, adding $4,953 every year, while hoping to spend $57,870 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: 29/49/22 Blend
62$707,000$707,000$707,000$707,000
63$784,223$746,752$735,794$801,446
64$802,641$721,770$698,869$790,160
65$820,997$693,624$658,769$772,560
66$839,225$662,098$615,324$752,424
67$857,249$626,963$568,360$729,573
68$874,983$587,979$517,695$703,811
69$892,330$544,888$463,136$674,935
70$909,181$497,421$404,484$642,724
71$925,415$445,292$341,532$606,946
72$940,894$388,199$274,061$567,353
73$955,467$325,823$201,844$523,680
74$968,963$257,826$124,643$475,644
75$981,190$183,852$42,211$422,948
76$991,936$103,525$0$365,269
77$1,000,964$16,449$0$313,008
78$1,008,010$0$0$266,334
79$1,012,781$0$0$256,952
80$1,014,950$0$0$255,544
81$1,014,155$0$0$253,122
82$1,009,992$0$0$249,556
83$1,002,016$0$0$244,700
84$989,729$0$0$238,395
85$972,582$0$0$230,461
86$949,967$0$0$220,702
87$921,207$0$0$208,900
88$885,556$0$0$194,814
89$842,185$0$0$178,175
90$790,179$0$0$158,690
91$728,525$0$0$136,030
92$656,100$0$0$109,836
93$571,666$0$0$79,707
94$473,853$0$0$45,204
95$361,144$0$0$5,838
96$231,866$0$0$0
97$84,169$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0