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%17.8%
1 years$58,714$58,191$57,680$57,182$56,696$54,903
2 years$29,066$28,525$28,000$27,492$26,998$25,208
3 years$19,185$18,641$18,118$17,614$17,129$15,398
4 years$14,245$13,703$13,185$12,690$12,216$10,558
5 years$11,282$10,744$10,232$9,747$9,287$7,705
6 years$9,308$8,773$8,269$7,795$7,348$5,844
7 years$7,898$7,368$6,872$6,409$5,976$4,550
8 years$6,841$6,315$5,828$5,376$4,958$3,609
9 years$6,019$5,499$5,019$4,579$4,175$2,901
10 years$5,362$4,847$4,376$3,947$3,557$2,357
11 years$4,825$4,315$3,853$3,435$3,060$1,931
12 years$4,378$3,873$3,419$3,013$2,651$1,591
13 years$3,999$3,500$3,055$2,660$2,312$1,319
14 years$3,676$3,181$2,745$2,361$2,027$1,097
15 years$3,395$2,906$2,478$2,106$1,784$916
16 years$3,150$2,666$2,247$1,886$1,577$766
17 years$2,934$2,456$2,044$1,694$1,398$643
18 years$2,742$2,269$1,866$1,527$1,243$540
19 years$2,571$2,103$1,709$1,380$1,108$455
20 years$2,416$1,954$1,568$1,250$990$384
21 years$2,277$1,820$1,442$1,134$886$324
22 years$2,151$1,699$1,329$1,031$794$273
23 years$2,035$1,589$1,227$939$713$231
24 years$1,930$1,489$1,135$856$641$195
25 years$1,833$1,397$1,051$782$576$165
26 years$1,744$1,313$975$715$519$140
27 years$1,661$1,236$905$655$468$119
28 years$1,585$1,165$842$600$422$101
29 years$1,514$1,099$783$550$381$85
30 years$1,447$1,038$730$505$345$72
31 years$1,385$981$680$464$312$61
32 years$1,328$928$635$426$282$52
33 years$1,273$879$593$392$255$44
34 years$1,222$833$554$360$231$37
35 years$1,174$790$518$332$209$32
36 years$1,129$750$484$306$190$27
37 years$1,087$712$453$282$172$23
38 years$1,046$677$424$260$156$19
39 years$1,008$644$398$239$141$16
40 years$972$612$373$221$128$14
41 years$938$583$349$204$116$12
42 years$905$555$328$188$105$10
43 years$874$529$308$173$96$9
44 years$845$504$289$160$87$7
45 years$817$481$271$148$79$6
46 years$790$459$255$137$72$5
47 years$764$438$239$126$65$4
48 years$740$418$225$117$59$4
49 years$717$399$211$108$54$3
50 years$694$381$199$100$49$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $711,000, adding $3,147 every year, while hoping to spend $25,154 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: 43/29/28 Blend
62$711,000$711,000$711,000$711,000
63$786,768$749,085$738,065$814,059
64$840,255$759,027$736,026$843,863
65$898,354$768,612$733,076$873,513
66$961,510$777,798$729,158$905,159
67$1,030,211$786,537$724,211$939,001
68$1,104,993$794,778$718,174$975,261
69$1,186,450$802,470$710,980$1,014,182
70$1,275,230$809,553$702,560$1,056,036
71$1,372,051$815,968$692,843$1,101,123
72$1,477,699$821,650$681,753$1,149,776
73$1,593,044$826,530$669,211$1,202,361
74$1,719,039$830,535$655,134$1,259,285
75$1,856,736$833,586$639,436$1,320,997
76$2,007,292$835,601$622,026$1,387,995
77$2,171,982$836,491$602,810$1,460,827
78$2,352,209$836,164$581,689$1,540,103
79$2,549,517$834,519$558,558$1,626,493
80$2,765,608$831,451$533,310$1,720,741
81$3,002,356$826,847$505,832$1,823,668
82$3,261,823$820,590$476,004$1,936,180
83$3,546,283$812,553$443,705$2,059,282
84$3,858,239$802,603$408,803$2,194,081
85$4,200,446$790,597$371,165$2,341,801
86$4,575,941$776,386$330,648$2,503,794
87$4,988,069$759,811$287,107$2,681,555
88$5,440,513$740,702$240,386$2,876,733
89$5,937,332$718,884$190,326$3,091,152
90$6,482,996$694,165$136,758$3,326,822
91$7,082,429$666,347$79,507$3,585,967
92$7,741,057$635,218$18,390$3,871,040
93$8,464,856$600,554$0$4,184,751
94$9,260,409$562,120$0$4,544,080
95$10,134,972$519,665$0$4,945,110
96$11,096,535$472,925$0$5,386,049
97$12,153,904$421,620$0$5,870,981
98$13,316,777$365,455$0$6,404,413
99$14,595,844$304,118$0$6,991,316
100$16,002,880$237,279$0$7,637,166