Can I retire at age 63 with 740,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $740,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.1%
1 years$61,109$60,564$60,033$59,515$59,009$57,074
2 years$30,252$29,688$29,142$28,613$28,099$26,169
3 years$19,967$19,402$18,857$18,333$17,827$15,961
4 years$14,826$14,262$13,723$13,208$12,715$10,928
5 years$11,743$11,182$10,650$10,145$9,665$7,962
6 years$9,687$9,131$8,607$8,113$7,648$6,030
7 years$8,220$7,668$7,152$6,670$6,220$4,686
8 years$7,120$6,573$6,066$5,595$5,160$3,710
9 years$6,265$5,723$5,224$4,766$4,345$2,978
10 years$5,581$5,044$4,555$4,108$3,703$2,415
11 years$5,022$4,491$4,010$3,575$3,184$1,974
12 years$4,556$4,031$3,559$3,136$2,759$1,624
13 years$4,163$3,643$3,179$2,769$2,406$1,343
14 years$3,826$3,311$2,857$2,458$2,109$1,115
15 years$3,534$3,025$2,579$2,192$1,857$928
16 years$3,278$2,775$2,338$1,963$1,641$775
17 years$3,054$2,556$2,128$1,763$1,455$649
18 years$2,854$2,362$1,942$1,589$1,294$544
19 years$2,675$2,189$1,778$1,436$1,153$457
20 years$2,515$2,034$1,632$1,301$1,030$385
21 years$2,370$1,894$1,501$1,180$922$324
22 years$2,238$1,768$1,383$1,073$826$273
23 years$2,119$1,654$1,277$977$742$230
24 years$2,009$1,550$1,181$891$667$194
25 years$1,908$1,454$1,094$814$600$164
26 years$1,815$1,367$1,015$744$540$138
27 years$1,729$1,286$942$681$487$117
28 years$1,649$1,212$876$624$440$99
29 years$1,575$1,143$815$572$397$84
30 years$1,506$1,080$759$525$359$71
31 years$1,442$1,021$708$483$324$60
32 years$1,382$966$661$443$293$51
33 years$1,325$915$617$408$266$43
34 years$1,272$867$576$375$240$36
35 years$1,222$822$539$345$218$31
36 years$1,175$780$504$318$197$26
37 years$1,131$741$472$293$179$22
38 years$1,089$704$442$270$162$19
39 years$1,049$670$414$249$147$16
40 years$1,012$637$388$230$133$13
41 years$976$607$364$212$121$11
42 years$942$578$341$196$110$10
43 years$910$551$320$181$100$8
44 years$879$525$301$167$90$7
45 years$850$500$282$154$82$6
46 years$822$477$265$142$75$5
47 years$796$456$249$131$68$4
48 years$770$435$234$121$61$4
49 years$746$415$220$112$56$3
50 years$722$397$207$104$51$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $740,000, adding $5,656 every year, while hoping to spend $54,886 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: 51/43/6 Blend
62$740,000$740,000$740,000$740,000
63$821,314$782,094$770,624$861,722
64$846,690$762,018$738,042$869,732
65$872,814$739,120$702,528$872,022
66$899,706$713,201$663,928$873,193
67$927,384$684,055$622,077$873,153
68$955,865$651,463$576,805$871,803
69$985,170$615,190$527,934$869,037
70$1,015,315$574,992$475,277$864,744
71$1,046,319$530,609$418,641$858,803
72$1,078,200$481,766$357,822$851,089
73$1,110,975$428,171$292,608$841,468
74$1,144,662$369,519$222,778$829,797
75$1,179,276$305,484$148,100$815,924
76$1,214,834$235,724$68,332$799,689
77$1,251,349$159,876$0$780,922
78$1,288,836$77,560$0$760,516
79$1,327,307$0$0$741,944
80$1,366,772$0$0$726,142
81$1,407,242$0$0$747,564
82$1,448,723$0$0$769,512
83$1,491,220$0$0$791,988
84$1,534,736$0$0$814,992
85$1,579,269$0$0$838,523
86$1,624,817$0$0$862,577
87$1,671,372$0$0$887,147
88$1,718,920$0$0$912,226
89$1,767,447$0$0$937,803
90$1,816,929$0$0$963,864
91$1,867,338$0$0$990,390
92$1,918,638$0$0$1,017,360
93$1,970,788$0$0$1,044,750
94$2,023,735$0$0$1,072,526
95$2,077,418$0$0$1,100,655
96$2,131,766$0$0$1,129,092
97$2,186,694$0$0$1,157,789
98$2,242,106$0$0$1,186,690
99$2,297,890$0$0$1,215,729
100$2,353,917$0$0$1,244,831