Can I retire at age 63 with 722,000?

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 $722,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$59,622$59,091$58,573$58,067$57,573$56,319
2 years$29,516$28,966$28,433$27,917$27,416$26,158
3 years$19,482$18,930$18,398$17,887$17,394$16,172
4 years$14,466$13,915$13,389$12,886$12,405$11,230
5 years$11,457$10,910$10,391$9,898$9,430$8,303
6 years$9,452$8,909$8,397$7,915$7,462$6,385
7 years$8,020$7,481$6,978$6,508$6,069$5,042
8 years$6,947$6,413$5,918$5,459$5,034$4,058
9 years$6,112$5,584$5,097$4,650$4,240$3,312
10 years$5,445$4,922$4,444$4,008$3,612$2,733
11 years$4,900$4,382$3,912$3,488$3,107$2,275
12 years$4,445$3,933$3,472$3,060$2,692$1,906
13 years$4,061$3,554$3,102$2,701$2,348$1,606
14 years$3,732$3,230$2,787$2,398$2,058$1,359
15 years$3,448$2,951$2,516$2,139$1,812$1,155
16 years$3,199$2,708$2,282$1,915$1,601$984
17 years$2,979$2,494$2,076$1,720$1,420$841
18 years$2,784$2,304$1,895$1,551$1,263$720
19 years$2,610$2,135$1,735$1,401$1,125$618
20 years$2,454$1,984$1,592$1,269$1,005$531
21 years$2,312$1,848$1,465$1,152$900$456
22 years$2,184$1,725$1,350$1,047$806$393
23 years$2,067$1,614$1,246$954$724$339
24 years$1,960$1,512$1,153$870$651$292
25 years$1,861$1,419$1,068$794$585$252
26 years$1,771$1,334$990$726$527$218
27 years$1,687$1,255$919$665$475$189
28 years$1,609$1,183$855$609$429$163
29 years$1,537$1,116$795$559$387$141
30 years$1,470$1,054$741$513$350$122
31 years$1,407$996$691$471$316$106
32 years$1,348$942$644$433$286$91
33 years$1,293$892$602$398$259$79
34 years$1,241$846$562$366$235$69
35 years$1,193$802$526$337$212$59
36 years$1,147$761$492$310$192$52
37 years$1,103$723$460$286$174$45
38 years$1,062$687$431$264$158$39
39 years$1,024$654$404$243$143$34
40 years$987$622$378$224$130$29
41 years$952$592$355$207$118$25
42 years$919$564$333$191$107$22
43 years$888$537$312$176$97$19
44 years$858$512$293$163$88$16
45 years$829$488$275$150$80$14
46 years$802$466$259$139$73$12
47 years$776$444$243$128$66$11
48 years$751$424$228$118$60$9
49 years$728$405$215$109$54$8
50 years$705$387$202$101$49$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $722,000, adding $6,454 every year, while hoping to spend $36,224 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: 33/39/28 Blend
62$722,000$722,000$722,000$722,000
63$802,301$764,035$752,844$821,784
64$845,594$762,931$739,523$836,030
65$892,088$760,558$724,540$847,707
66$942,073$756,817$707,804$859,589
67$995,864$751,601$689,215$871,718
68$1,053,810$744,797$668,671$884,144
69$1,116,291$736,285$646,065$896,927
70$1,183,728$725,938$621,283$910,135
71$1,256,581$713,622$594,209$923,846
72$1,335,357$699,194$564,719$938,151
73$1,420,612$682,503$532,686$953,153
74$1,512,957$663,389$497,974$968,971
75$1,613,067$641,683$460,444$985,739
76$1,721,680$617,205$419,949$1,003,611
77$1,839,610$589,767$376,336$1,022,761
78$1,967,752$559,167$329,445$1,043,386
79$2,107,090$525,194$279,109$1,065,709
80$2,258,708$487,623$225,154$1,089,982
81$2,423,796$446,217$167,396$1,116,489
82$2,603,667$400,724$105,647$1,145,548
83$2,799,762$350,881$39,708$1,177,519
84$3,013,671$296,408$0$1,212,806
85$3,247,141$237,007$0$1,261,019
86$3,502,096$172,367$0$1,326,762
87$3,780,654$102,158$0$1,398,794
88$4,085,148$26,031$0$1,477,819
89$4,418,145$0$0$1,564,620
90$4,782,471$0$0$1,684,262
91$5,181,239$0$0$1,827,547
92$5,617,877$0$0$1,984,550
93$6,096,158$0$0$2,156,641
94$6,620,240$0$0$2,345,329
95$7,194,700$0$0$2,552,278
96$7,824,579$0$0$2,779,320
97$8,515,431$0$0$3,028,471
98$9,273,371$0$0$3,301,953
99$10,105,135$0$0$3,602,215
100$11,018,145$0$0$3,931,953