Can I retire at age 63 with 741,000?

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 $741,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$61,191$60,646$60,114$59,595$59,088$57,613
2 years$30,293$29,728$29,182$28,652$28,137$26,660
3 years$19,994$19,428$18,882$18,357$17,851$16,419
4 years$14,846$14,282$13,742$13,225$12,732$11,355
5 years$11,758$11,197$10,664$10,158$9,679$8,361
6 years$9,700$9,143$8,618$8,124$7,658$6,401
7 years$8,231$7,678$7,162$6,679$6,228$5,032
8 years$7,129$6,582$6,074$5,603$5,167$4,031
9 years$6,273$5,731$5,231$4,772$4,351$3,275
10 years$5,588$5,051$4,561$4,114$3,708$2,689
11 years$5,029$4,497$4,015$3,580$3,189$2,227
12 years$4,562$4,036$3,563$3,140$2,763$1,856
13 years$4,168$3,647$3,184$2,772$2,410$1,555
14 years$3,831$3,315$2,861$2,461$2,112$1,309
15 years$3,538$3,029$2,583$2,195$1,860$1,106
16 years$3,283$2,779$2,342$1,965$1,644$937
17 years$3,058$2,559$2,131$1,766$1,457$796
18 years$2,858$2,365$1,945$1,591$1,296$678
19 years$2,679$2,192$1,781$1,438$1,155$578
20 years$2,518$2,037$1,634$1,302$1,032$493
21 years$2,373$1,897$1,503$1,182$923$422
22 years$2,242$1,771$1,385$1,075$828$361
23 years$2,121$1,656$1,279$979$743$309
24 years$2,011$1,552$1,183$893$668$265
25 years$1,910$1,456$1,096$815$601$228
26 years$1,817$1,369$1,016$745$541$195
27 years$1,731$1,288$944$682$488$168
28 years$1,652$1,214$877$625$440$144
29 years$1,577$1,145$816$573$398$124
30 years$1,508$1,081$760$526$359$106
31 years$1,444$1,022$709$483$325$92
32 years$1,384$967$661$444$294$79
33 years$1,327$916$618$408$266$68
34 years$1,274$868$577$376$241$58
35 years$1,224$823$539$346$218$50
36 years$1,177$782$505$319$198$43
37 years$1,132$742$472$293$179$37
38 years$1,090$705$442$270$162$32
39 years$1,051$671$414$249$147$28
40 years$1,013$638$388$230$134$24
41 years$977$608$364$212$121$20
42 years$943$579$342$196$110$18
43 years$911$551$321$181$100$15
44 years$880$525$301$167$91$13
45 years$851$501$283$154$82$11
46 years$823$478$265$142$75$10
47 years$797$456$249$132$68$8
48 years$771$435$234$122$62$7
49 years$747$416$220$112$56$6
50 years$723$397$207$104$51$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $741,000, adding $4,782 every year, while hoping to spend $24,117 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: 65/27/8 Blend
62$741,000$741,000$741,000$741,000
63$821,515$782,242$770,756$873,326
64$879,649$794,911$770,916$921,084
65$942,904$807,393$770,273$969,943
66$1,011,778$819,653$768,775$1,022,694
67$1,086,817$831,654$766,367$1,079,715
68$1,168,623$843,355$762,990$1,141,420
69$1,257,858$854,715$758,586$1,208,268
70$1,355,251$865,688$753,090$1,280,762
71$1,461,605$876,224$746,437$1,359,457
72$1,577,802$886,273$738,556$1,444,966
73$1,704,816$895,778$729,375$1,537,964
74$1,843,716$904,680$718,819$1,639,195
75$1,995,682$912,917$706,806$1,749,478
76$2,162,012$920,420$693,254$1,869,718
77$2,344,134$927,118$678,075$2,000,911
78$2,543,624$932,934$661,178$2,144,155
79$2,762,213$937,788$642,468$2,300,661
80$3,001,811$941,592$621,843$2,471,763
81$3,264,521$944,255$599,200$2,658,934
82$3,552,658$945,679$574,429$2,863,794
83$3,868,772$945,760$547,415$3,088,132
84$4,215,673$944,389$518,040$3,333,920
85$4,596,454$941,447$486,177$3,603,329
86$5,014,525$936,810$451,696$3,898,757
87$5,473,640$930,347$414,462$4,222,844
88$5,977,936$921,918$374,330$4,578,500
89$6,531,968$911,374$331,152$4,968,937
90$7,140,756$898,559$284,773$5,397,692
91$7,809,829$883,305$235,030$5,868,665
92$8,545,282$865,437$181,753$6,386,157
93$9,353,823$844,766$124,765$6,954,908
94$10,242,850$821,096$63,881$7,580,143
95$11,220,507$794,217$0$8,267,622
96$12,295,772$763,906$0$9,023,790
97$13,478,532$729,930$0$9,861,377
98$14,779,686$692,039$0$10,782,660
99$16,211,236$649,971$0$11,796,164
100$17,786,411$603,449$0$12,911,284