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%13.5%
1 years$58,796$58,273$57,762$57,263$56,776$55,951
2 years$29,107$28,565$28,040$27,530$27,036$26,206
3 years$19,212$18,668$18,143$17,639$17,153$16,344
4 years$14,265$13,723$13,204$12,708$12,234$11,453
5 years$11,298$10,759$10,247$9,761$9,300$8,549
6 years$9,321$8,785$8,281$7,806$7,359$6,638
7 years$7,909$7,378$6,881$6,418$5,984$5,295
8 years$6,850$6,324$5,836$5,384$4,965$4,306
9 years$6,028$5,506$5,027$4,586$4,181$3,553
10 years$5,370$4,854$4,382$3,953$3,562$2,965
11 years$4,832$4,321$3,858$3,440$3,064$2,496
12 years$4,384$3,878$3,424$3,017$2,655$2,116
13 years$4,005$3,505$3,059$2,664$2,315$1,804
14 years$3,681$3,186$2,749$2,365$2,030$1,545
15 years$3,400$2,910$2,482$2,109$1,787$1,329
16 years$3,154$2,670$2,250$1,888$1,579$1,147
17 years$2,938$2,459$2,047$1,697$1,400$993
18 years$2,746$2,272$1,869$1,529$1,245$861
19 years$2,574$2,106$1,711$1,382$1,110$749
20 years$2,420$1,957$1,570$1,251$991$652
21 years$2,280$1,823$1,444$1,136$887$569
22 years$2,154$1,701$1,331$1,033$795$496
23 years$2,038$1,591$1,229$940$714$434
24 years$1,933$1,491$1,137$858$642$380
25 years$1,836$1,399$1,053$783$577$333
26 years$1,746$1,315$976$716$520$292
27 years$1,664$1,238$907$656$469$256
28 years$1,587$1,166$843$601$423$224
29 years$1,516$1,100$784$551$382$197
30 years$1,449$1,039$731$505$345$173
31 years$1,387$982$681$464$312$152
32 years$1,329$929$636$427$282$134
33 years$1,275$880$593$392$255$117
34 years$1,224$834$554$361$231$103
35 years$1,176$791$518$332$209$91
36 years$1,131$751$485$306$190$80
37 years$1,088$713$454$282$172$70
38 years$1,048$678$425$260$156$62
39 years$1,010$645$398$240$141$55
40 years$973$613$373$221$128$48
41 years$939$584$350$204$116$42
42 years$906$556$328$188$106$37
43 years$875$530$308$174$96$33
44 years$846$505$289$160$87$29
45 years$818$481$272$148$79$25
46 years$791$459$255$137$72$22
47 years$765$438$240$126$65$20
48 years$741$418$225$117$59$17
49 years$718$400$212$108$54$15
50 years$695$382$199$100$49$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $712,000, adding $6,652 every year, while hoping to spend $26,317 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: 54/37/9 Blend
62$712,000$712,000$712,000$712,000
63$791,486$753,750$742,714$832,111
64$844,216$762,682$739,593$869,324
65$901,443$771,170$735,487$906,358
66$963,597$779,165$730,332$946,037
67$1,031,153$786,613$724,067$988,618
68$1,104,631$793,457$716,624$1,034,381
69$1,184,605$799,639$707,933$1,083,639
70$1,271,707$805,093$697,921$1,136,736
71$1,366,631$809,752$686,511$1,194,051
72$1,470,141$813,544$673,622$1,256,004
73$1,583,078$816,390$659,172$1,323,058
74$1,706,369$818,211$643,072$1,395,724
75$1,841,034$818,918$625,229$1,474,567
76$1,988,193$818,419$605,548$1,560,208
77$2,149,083$816,615$583,928$1,653,337
78$2,325,063$813,403$560,264$1,754,713
79$2,517,632$808,673$534,445$1,865,173
80$2,728,439$802,306$506,357$1,985,643
81$2,959,298$794,178$475,879$2,117,144
82$3,212,212$784,157$442,886$2,260,803
83$3,489,381$772,104$407,246$2,417,865
84$3,793,231$757,871$368,822$2,589,703
85$4,126,434$741,300$327,471$2,777,832
86$4,491,931$722,225$283,043$2,983,926
87$4,892,965$700,470$235,381$3,209,829
88$5,333,104$675,850$184,323$3,457,579
89$5,816,280$648,166$129,697$3,729,423
90$6,346,825$617,211$71,327$4,027,842
91$6,929,510$582,763$9,025$4,355,571
92$7,569,592$544,590$0$4,715,631
93$8,272,859$502,444$0$5,116,871
94$9,045,692$456,065$0$5,558,731
95$9,895,117$405,177$0$6,044,418
96$10,828,877$349,488$0$6,578,426
97$11,855,500$288,691$0$7,165,712
98$12,984,385$222,460$0$7,811,742
99$14,225,884$150,453$0$8,522,542
100$15,591,404$72,305$0$9,304,760