Can I retire at age 63 with 721,000?

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 $721,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$59,540$59,009$58,492$57,987$57,494$56,988
2 years$29,475$28,926$28,394$27,878$27,378$26,868
3 years$19,455$18,903$18,373$17,862$17,370$16,872
4 years$14,446$13,896$13,371$12,868$12,388$11,906
5 years$11,441$10,895$10,376$9,884$9,417$8,953
6 years$9,439$8,896$8,386$7,904$7,452$7,005
7 years$8,009$7,471$6,968$6,499$6,060$5,631
8 years$6,937$6,404$5,910$5,452$5,027$4,616
9 years$6,104$5,576$5,090$4,644$4,234$3,841
10 years$5,438$4,915$4,438$4,003$3,607$3,232
11 years$4,893$4,375$3,907$3,484$3,103$2,744
12 years$4,439$3,927$3,467$3,056$2,689$2,347
13 years$4,056$3,549$3,098$2,698$2,345$2,020
14 years$3,727$3,226$2,783$2,395$2,055$1,746
15 years$3,443$2,947$2,513$2,136$1,810$1,516
16 years$3,194$2,704$2,278$1,912$1,599$1,321
17 years$2,975$2,490$2,073$1,718$1,418$1,155
18 years$2,781$2,301$1,893$1,548$1,261$1,012
19 years$2,607$2,133$1,733$1,399$1,124$889
20 years$2,450$1,982$1,590$1,267$1,004$782
21 years$2,309$1,846$1,463$1,150$898$689
22 years$2,181$1,723$1,348$1,046$805$608
23 years$2,064$1,611$1,245$952$723$537
24 years$1,957$1,510$1,151$869$650$475
25 years$1,859$1,417$1,066$793$585$421
26 years$1,768$1,332$989$725$527$373
27 years$1,685$1,253$918$664$475$331
28 years$1,607$1,181$854$608$428$294
29 years$1,535$1,114$794$558$387$261
30 years$1,468$1,052$740$512$350$232
31 years$1,405$995$690$470$316$206
32 years$1,346$941$644$432$286$183
33 years$1,291$891$601$397$259$163
34 years$1,240$845$561$366$234$145
35 years$1,191$801$525$337$212$129
36 years$1,145$760$491$310$192$115
37 years$1,102$722$460$286$174$102
38 years$1,061$686$430$263$158$91
39 years$1,022$653$403$243$143$81
40 years$986$621$378$224$130$72
41 years$951$591$354$207$118$64
42 years$918$563$332$191$107$57
43 years$887$536$312$176$97$51
44 years$857$511$293$162$88$46
45 years$828$488$275$150$80$41
46 years$801$465$258$139$73$36
47 years$775$444$243$128$66$32
48 years$750$424$228$118$60$29
49 years$727$405$214$109$54$26
50 years$704$387$201$101$49$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $721,000, adding $5,642 every year, while hoping to spend $52,968 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: 78/6/16 Blend
62$721,000$721,000$721,000$721,000
63$800,362$762,149$750,973$859,598
64$825,641$743,136$719,773$880,434
65$851,724$721,417$685,753$896,017
66$878,635$696,803$648,762$911,644
67$906,403$669,093$608,642$927,300
68$935,055$638,078$565,231$942,969
69$964,620$603,533$518,355$958,632
70$995,127$565,222$467,836$974,272
71$1,026,608$522,895$413,486$989,868
72$1,059,094$476,289$355,110$1,005,399
73$1,092,618$425,124$292,503$1,020,842
74$1,127,215$369,105$225,451$1,036,173
75$1,162,920$307,920$153,733$1,051,366
76$1,199,770$241,240$77,115$1,066,394
77$1,237,803$168,717$0$1,081,228
78$1,277,059$89,984$0$1,096,630
79$1,317,578$4,653$0$1,125,875
80$1,359,403$0$0$1,155,796
81$1,402,579$0$0$1,192,191
82$1,447,150$0$0$1,230,080
83$1,493,166$0$0$1,269,198
84$1,540,675$0$0$1,309,585
85$1,589,728$0$0$1,351,286
86$1,640,380$0$0$1,394,346
87$1,692,687$0$0$1,438,814
88$1,746,706$0$0$1,484,737
89$1,802,498$0$0$1,532,169
90$1,860,125$0$0$1,581,162
91$1,919,655$0$0$1,631,773
92$1,981,155$0$0$1,684,060
93$2,044,698$0$0$1,738,085
94$2,110,358$0$0$1,793,911
95$2,178,215$0$0$1,851,605
96$2,248,349$0$0$1,911,238
97$2,320,848$0$0$1,972,883
98$2,395,802$0$0$2,036,616
99$2,473,305$0$0$2,102,519
100$2,553,457$0$0$2,170,676