Can I retire at age 63 with 714,000?

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 $714,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$58,961$58,436$57,924$57,424$56,935$56,529
2 years$29,189$28,645$28,118$27,608$27,112$26,702
3 years$19,266$18,720$18,194$17,688$17,201$16,801
4 years$14,305$13,761$13,241$12,744$12,268$11,880
5 years$11,330$10,789$10,275$9,788$9,326$8,951
6 years$9,347$8,810$8,304$7,828$7,379$7,019
7 years$7,931$7,399$6,901$6,436$6,001$5,655
8 years$6,870$6,342$5,852$5,399$4,979$4,647
9 years$6,044$5,522$5,041$4,598$4,193$3,875
10 years$5,385$4,867$4,395$3,964$3,572$3,268
11 years$4,845$4,333$3,869$3,450$3,072$2,782
12 years$4,396$3,889$3,434$3,026$2,662$2,385
13 years$4,016$3,515$3,068$2,671$2,322$2,058
14 years$3,691$3,195$2,756$2,371$2,035$1,784
15 years$3,409$2,918$2,489$2,115$1,792$1,553
16 years$3,163$2,678$2,256$1,894$1,584$1,357
17 years$2,946$2,466$2,053$1,701$1,404$1,190
18 years$2,754$2,279$1,874$1,533$1,249$1,045
19 years$2,581$2,112$1,716$1,385$1,113$921
20 years$2,427$1,962$1,575$1,255$994$812
21 years$2,287$1,828$1,448$1,139$890$718
22 years$2,160$1,706$1,335$1,035$797$636
23 years$2,044$1,596$1,233$943$716$563
24 years$1,938$1,495$1,140$860$643$500
25 years$1,841$1,403$1,056$785$579$444
26 years$1,751$1,319$979$718$521$395
27 years$1,668$1,241$909$657$470$351
28 years$1,591$1,169$845$602$424$313
29 years$1,520$1,103$787$552$383$279
30 years$1,453$1,042$733$507$346$248
31 years$1,391$985$683$466$313$221
32 years$1,333$932$637$428$283$197
33 years$1,279$883$595$393$256$176
34 years$1,227$837$556$362$232$157
35 years$1,179$793$520$333$210$141
36 years$1,134$753$486$307$190$126
37 years$1,091$715$455$283$173$112
38 years$1,051$680$426$261$156$100
39 years$1,012$646$399$240$142$90
40 years$976$615$374$222$129$80
41 years$942$585$351$205$117$72
42 years$909$557$329$189$106$64
43 years$878$531$309$174$96$57
44 years$848$506$290$161$87$51
45 years$820$483$272$149$79$46
46 years$793$461$256$137$72$41
47 years$768$440$240$127$65$37
48 years$743$420$226$117$59$33
49 years$720$401$212$108$54$29
50 years$697$383$200$100$49$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $714,000, adding $5,406 every year, while hoping to spend $42,483 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: 70/21/9 Blend
62$714,000$714,000$714,000$714,000
63$792,404$754,562$743,495$846,167
64$828,028$746,334$723,201$874,248
65$865,861$736,279$700,803$899,255
66$906,085$724,263$676,185$925,471
67$948,897$710,143$649,228$953,006
68$994,512$693,768$619,806$981,983
69$1,043,169$674,979$587,786$1,012,535
70$1,095,126$653,606$553,030$1,044,815
71$1,150,667$629,471$515,395$1,078,988
72$1,210,105$602,385$474,730$1,115,238
73$1,273,780$572,147$430,878$1,153,772
74$1,342,068$538,544$383,675$1,194,816
75$1,415,380$501,354$332,949$1,238,622
76$1,494,166$460,338$278,521$1,285,470
77$1,578,924$415,247$220,204$1,335,669
78$1,670,195$365,815$157,802$1,389,562
79$1,768,578$311,763$91,111$1,447,531
80$1,874,729$252,796$19,920$1,509,996
81$1,989,369$188,600$0$1,577,424
82$2,113,289$118,846$0$1,655,716
83$2,247,362$43,186$0$1,742,451
84$2,392,542$0$0$1,836,373
85$2,549,884$0$0$1,947,161
86$2,720,543$0$0$2,078,184
87$2,905,793$0$0$2,220,442
88$3,107,033$0$0$2,375,013
89$3,325,801$0$0$2,543,086
90$3,563,793$0$0$2,725,966
91$3,822,870$0$0$2,925,090
92$4,105,084$0$0$3,142,037
93$4,412,691$0$0$3,378,549
94$4,748,173$0$0$3,636,540
95$5,114,264$0$0$3,918,118
96$5,513,973$0$0$4,225,601
97$5,950,610$0$0$4,561,545
98$6,427,822$0$0$4,928,761
99$6,949,623$0$0$5,330,344
100$7,520,431$0$0$5,769,702