Can I retire at age 63 with 712,000?

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 $712,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.5%
1 years$58,796$58,273$57,762$57,263$56,776$54,610
2 years$29,107$28,565$28,040$27,530$27,036$24,879
3 years$19,212$18,668$18,143$17,639$17,153$15,073
4 years$14,265$13,723$13,204$12,708$12,234$10,247
5 years$11,298$10,759$10,247$9,761$9,300$7,411
6 years$9,321$8,785$8,281$7,806$7,359$5,569
7 years$7,909$7,378$6,881$6,418$5,984$4,294
8 years$6,850$6,324$5,836$5,384$4,965$3,371
9 years$6,028$5,506$5,027$4,586$4,181$2,683
10 years$5,370$4,854$4,382$3,953$3,562$2,156
11 years$4,832$4,321$3,858$3,440$3,064$1,747
12 years$4,384$3,878$3,424$3,017$2,655$1,424
13 years$4,005$3,505$3,059$2,664$2,315$1,166
14 years$3,681$3,186$2,749$2,365$2,030$958
15 years$3,400$2,910$2,482$2,109$1,787$790
16 years$3,154$2,670$2,250$1,888$1,579$654
17 years$2,938$2,459$2,047$1,697$1,400$541
18 years$2,746$2,272$1,869$1,529$1,245$449
19 years$2,574$2,106$1,711$1,382$1,110$373
20 years$2,420$1,957$1,570$1,251$991$311
21 years$2,280$1,823$1,444$1,136$887$259
22 years$2,154$1,701$1,331$1,033$795$216
23 years$2,038$1,591$1,229$940$714$180
24 years$1,933$1,491$1,137$858$642$150
25 years$1,836$1,399$1,053$783$577$125
26 years$1,746$1,315$976$716$520$105
27 years$1,664$1,238$907$656$469$87
28 years$1,587$1,166$843$601$423$73
29 years$1,516$1,100$784$551$382$61
30 years$1,449$1,039$731$505$345$51
31 years$1,387$982$681$464$312$43
32 years$1,329$929$636$427$282$36
33 years$1,275$880$593$392$255$30
34 years$1,224$834$554$361$231$25
35 years$1,176$791$518$332$209$21
36 years$1,131$751$485$306$190$17
37 years$1,088$713$454$282$172$15
38 years$1,048$678$425$260$156$12
39 years$1,010$645$398$240$141$10
40 years$973$613$373$221$128$9
41 years$939$584$350$204$116$7
42 years$906$556$328$188$106$6
43 years$875$530$308$174$96$5
44 years$846$505$289$160$87$4
45 years$818$481$272$148$79$4
46 years$791$459$255$137$72$3
47 years$765$438$240$126$65$2
48 years$741$418$225$117$59$2
49 years$718$400$212$108$54$2
50 years$695$382$199$100$49$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $712,000, adding $4,050 every year, while hoping to spend $37,387 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: 47/48/5 Blend
62$712,000$712,000$712,000$712,000
63$788,802$751,066$740,030$824,664
64$829,480$748,088$725,041$846,674
65$873,054$743,712$708,297$866,266
66$919,781$737,829$689,700$886,639
67$969,940$730,324$669,147$907,875
68$1,023,840$721,077$646,530$930,067
69$1,081,820$709,957$621,737$953,321
70$1,144,250$696,830$594,649$977,754
71$1,211,539$681,550$565,145$1,003,497
72$1,284,135$663,964$533,096$1,030,700
73$1,362,529$643,911$498,368$1,059,530
74$1,447,263$621,219$460,819$1,090,171
75$1,538,931$595,706$420,304$1,122,835
76$1,638,187$567,180$376,669$1,157,755
77$1,745,749$535,439$329,754$1,195,191
78$1,862,407$500,267$279,392$1,235,438
79$1,989,030$461,437$225,409$1,278,821
80$2,126,572$418,709$167,622$1,325,706
81$2,276,086$371,830$105,841$1,376,498
82$2,438,728$320,530$39,868$1,431,653
83$2,615,769$264,527$0$1,491,674
84$2,808,610$203,521$0$1,558,755
85$3,018,790$137,196$0$1,634,270
86$3,248,005$65,217$0$1,716,799
87$3,498,121$0$0$1,807,130
88$3,771,192$0$0$1,912,885
89$4,069,478$0$0$2,066,107
90$4,395,469$0$0$2,233,639
91$4,751,904$0$0$2,416,898
92$5,141,800$0$0$2,617,446
93$5,568,480$0$0$2,837,001
94$6,035,601$0$0$3,077,457
95$6,547,191$0$0$3,340,898
96$7,107,686$0$0$3,629,621
97$7,721,971$0$0$3,946,154
98$8,395,426$0$0$4,293,283
99$9,133,977$0$0$4,674,073
100$9,944,149$0$0$5,091,906