Can I retire at age 63 with 740,000?

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 $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%12.1%
1 years$61,109$60,564$60,033$59,515$59,009$58,490
2 years$30,252$29,688$29,142$28,613$28,099$27,577
3 years$19,967$19,402$18,857$18,333$17,827$17,317
4 years$14,826$14,262$13,723$13,208$12,715$12,220
5 years$11,743$11,182$10,650$10,145$9,665$9,189
6 years$9,687$9,131$8,607$8,113$7,648$7,189
7 years$8,220$7,668$7,152$6,670$6,220$5,780
8 years$7,120$6,573$6,066$5,595$5,160$4,738
9 years$6,265$5,723$5,224$4,766$4,345$3,942
10 years$5,581$5,044$4,555$4,108$3,703$3,317
11 years$5,022$4,491$4,010$3,575$3,184$2,816
12 years$4,556$4,031$3,559$3,136$2,759$2,409
13 years$4,163$3,643$3,179$2,769$2,406$2,073
14 years$3,826$3,311$2,857$2,458$2,109$1,792
15 years$3,534$3,025$2,579$2,192$1,857$1,556
16 years$3,278$2,775$2,338$1,963$1,641$1,356
17 years$3,054$2,556$2,128$1,763$1,455$1,185
18 years$2,854$2,362$1,942$1,589$1,294$1,039
19 years$2,675$2,189$1,778$1,436$1,153$912
20 years$2,515$2,034$1,632$1,301$1,030$802
21 years$2,370$1,894$1,501$1,180$922$707
22 years$2,238$1,768$1,383$1,073$826$624
23 years$2,119$1,654$1,277$977$742$551
24 years$2,009$1,550$1,181$891$667$488
25 years$1,908$1,454$1,094$814$600$432
26 years$1,815$1,367$1,015$744$540$383
27 years$1,729$1,286$942$681$487$340
28 years$1,649$1,212$876$624$440$301
29 years$1,575$1,143$815$572$397$268
30 years$1,506$1,080$759$525$359$238
31 years$1,442$1,021$708$483$324$211
32 years$1,382$966$661$443$293$188
33 years$1,325$915$617$408$266$167
34 years$1,272$867$576$375$240$149
35 years$1,222$822$539$345$218$132
36 years$1,175$780$504$318$197$118
37 years$1,131$741$472$293$179$105
38 years$1,089$704$442$270$162$93
39 years$1,049$670$414$249$147$83
40 years$1,012$637$388$230$133$74
41 years$976$607$364$212$121$66
42 years$942$578$341$196$110$59
43 years$910$551$320$181$100$52
44 years$879$525$301$167$90$47
45 years$850$500$282$154$82$42
46 years$822$477$265$142$75$37
47 years$796$456$249$131$68$33
48 years$770$435$234$121$61$30
49 years$746$415$220$112$56$26
50 years$722$397$207$104$51$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $740,000, adding $2,330 every year, while hoping to spend $30,654 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: 60/30/10 Blend
62$740,000$740,000$740,000$740,000
63$817,883$778,663$767,193$864,929
64$868,692$784,202$760,279$902,327
65$923,655$788,985$752,105$939,411
66$983,166$792,943$742,598$979,106
67$1,047,653$796,001$731,679$1,021,665
68$1,117,590$798,082$719,267$1,067,369
69$1,193,497$799,101$705,276$1,116,526
70$1,275,948$798,971$689,616$1,169,478
71$1,365,570$797,596$672,194$1,226,602
72$1,463,058$794,878$652,913$1,288,314
73$1,569,173$790,710$631,668$1,355,074
74$1,684,754$784,980$608,354$1,427,390
75$1,810,722$777,568$582,858$1,505,824
76$1,948,095$768,347$555,062$1,590,995
77$2,097,989$757,184$524,845$1,683,587
78$2,261,634$743,937$492,077$1,784,356
79$2,440,385$728,454$456,627$1,894,136
80$2,635,733$710,577$418,352$2,013,848
81$2,849,319$690,137$377,108$2,144,509
82$3,082,950$666,954$332,742$2,287,243
83$3,338,616$640,839$285,093$2,443,289
84$3,618,507$611,593$233,997$2,614,015
85$3,925,037$579,004$179,278$2,800,933
86$4,260,863$542,847$120,756$3,005,711
87$4,628,911$502,886$58,240$3,230,188
88$5,032,402$458,870$0$3,476,397
89$5,474,887$410,534$0$3,747,484
90$5,960,275$357,600$0$4,051,710
91$6,492,871$299,770$0$4,385,608
92$7,077,418$236,733$0$4,752,215
93$7,719,140$168,159$0$5,154,883
94$8,423,793$93,700$0$5,597,306
95$9,197,716$12,986$0$6,083,561
96$10,047,891$0$0$6,618,141
97$10,982,013$0$0$7,230,556
98$12,008,556$0$0$7,908,338
99$13,136,857$0$0$8,653,371
100$14,377,203$0$0$9,472,457