Can I retire at age 63 with 711,000?

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 $711,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.4%
1 years$58,714$58,191$57,680$57,182$56,696$55,665
2 years$29,066$28,525$28,000$27,492$26,998$25,963
3 years$19,185$18,641$18,118$17,614$17,129$16,122
4 years$14,245$13,703$13,185$12,690$12,216$11,246
5 years$11,282$10,744$10,232$9,747$9,287$8,355
6 years$9,308$8,773$8,269$7,795$7,348$6,456
7 years$7,898$7,368$6,872$6,409$5,976$5,124
8 years$6,841$6,315$5,828$5,376$4,958$4,145
9 years$6,019$5,499$5,019$4,579$4,175$3,402
10 years$5,362$4,847$4,376$3,947$3,557$2,823
11 years$4,825$4,315$3,853$3,435$3,060$2,363
12 years$4,378$3,873$3,419$3,013$2,651$1,992
13 years$3,999$3,500$3,055$2,660$2,312$1,688
14 years$3,676$3,181$2,745$2,361$2,027$1,438
15 years$3,395$2,906$2,478$2,106$1,784$1,229
16 years$3,150$2,666$2,247$1,886$1,577$1,054
17 years$2,934$2,456$2,044$1,694$1,398$906
18 years$2,742$2,269$1,866$1,527$1,243$781
19 years$2,571$2,103$1,709$1,380$1,108$674
20 years$2,416$1,954$1,568$1,250$990$583
21 years$2,277$1,820$1,442$1,134$886$505
22 years$2,151$1,699$1,329$1,031$794$438
23 years$2,035$1,589$1,227$939$713$380
24 years$1,930$1,489$1,135$856$641$331
25 years$1,833$1,397$1,051$782$576$287
26 years$1,744$1,313$975$715$519$250
27 years$1,661$1,236$905$655$468$218
28 years$1,585$1,165$842$600$422$190
29 years$1,514$1,099$783$550$381$165
30 years$1,447$1,038$730$505$345$144
31 years$1,385$981$680$464$312$126
32 years$1,328$928$635$426$282$110
33 years$1,273$879$593$392$255$96
34 years$1,222$833$554$360$231$84
35 years$1,174$790$518$332$209$73
36 years$1,129$750$484$306$190$64
37 years$1,087$712$453$282$172$56
38 years$1,046$677$424$260$156$49
39 years$1,008$644$398$239$141$42
40 years$972$612$373$221$128$37
41 years$938$583$349$204$116$32
42 years$905$555$328$188$105$28
43 years$874$529$308$173$96$25
44 years$845$504$289$160$87$22
45 years$817$481$271$148$79$19
46 years$790$459$255$137$72$16
47 years$764$438$239$126$65$14
48 years$740$418$225$117$59$13
49 years$717$399$211$108$54$11
50 years$694$381$199$100$49$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $711,000, adding $4,604 every year, while hoping to spend $59,311 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: 48/41/11 Blend
62$711,000$711,000$711,000$711,000
63$788,271$750,588$739,568$823,517
64$805,568$724,260$701,237$821,921
65$822,642$694,655$659,634$813,634
66$839,407$661,548$614,587$803,291
67$855,766$624,704$565,916$790,719
68$871,613$583,873$513,432$775,732
69$886,825$538,791$456,940$758,131
70$901,268$489,179$396,235$737,701
71$914,790$434,741$331,101$714,209
72$927,221$375,166$261,315$687,408
73$938,373$310,124$186,644$657,029
74$948,034$239,267$106,844$622,784
75$955,970$162,227$21,659$584,360
76$961,919$78,616$0$541,424
77$965,591$0$0$501,741
78$966,662$0$0$465,437
79$964,774$0$0$462,993
80$959,528$0$0$458,727
81$950,482$0$0$452,404
82$937,145$0$0$443,763
83$918,974$0$0$432,515
84$895,366$0$0$418,340
85$865,654$0$0$400,882
86$829,098$0$0$379,749
87$784,881$0$0$354,508
88$732,097$0$0$324,676
89$669,744$0$0$289,723
90$596,716$0$0$249,061
91$511,785$0$0$202,039
92$413,600$0$0$147,939
93$300,662$0$0$85,968
94$171,318$0$0$15,249
95$23,741$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0