Can I retire at age 63 with 743,000?

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 $743,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14%
1 years$61,356$60,810$60,277$59,756$59,248$58,266
2 years$30,374$29,809$29,260$28,729$28,213$27,227
3 years$20,048$19,480$18,933$18,407$17,900$16,940
4 years$14,886$14,320$13,779$13,261$12,766$11,840
5 years$11,790$11,227$10,693$10,186$9,705$8,815
6 years$9,727$9,168$8,641$8,146$7,679$6,826
7 years$8,253$7,699$7,181$6,697$6,245$5,430
8 years$7,149$6,600$6,090$5,618$5,181$4,403
9 years$6,290$5,746$5,245$4,785$4,363$3,622
10 years$5,603$5,065$4,573$4,125$3,718$3,013
11 years$5,042$4,509$4,026$3,590$3,197$2,528
12 years$4,575$4,047$3,573$3,149$2,771$2,137
13 years$4,179$3,657$3,192$2,780$2,416$1,816
14 years$3,841$3,324$2,868$2,468$2,118$1,550
15 years$3,548$3,037$2,590$2,201$1,865$1,329
16 years$3,292$2,786$2,348$1,971$1,648$1,143
17 years$3,066$2,566$2,136$1,771$1,461$986
18 years$2,865$2,371$1,950$1,596$1,299$852
19 years$2,686$2,198$1,785$1,442$1,158$738
20 years$2,525$2,042$1,639$1,306$1,034$640
21 years$2,380$1,902$1,507$1,185$926$556
22 years$2,248$1,776$1,389$1,078$830$484
23 years$2,127$1,661$1,283$981$745$421
24 years$2,017$1,556$1,186$895$669$367
25 years$1,916$1,460$1,099$817$602$320
26 years$1,822$1,372$1,019$747$543$280
27 years$1,736$1,292$946$684$489$244
28 years$1,656$1,217$880$627$441$214
29 years$1,582$1,148$819$575$399$187
30 years$1,512$1,084$762$527$360$163
31 years$1,448$1,025$711$484$326$143
32 years$1,387$970$663$445$295$125
33 years$1,331$918$619$409$267$110
34 years$1,277$870$579$377$241$96
35 years$1,227$826$541$347$219$84
36 years$1,180$784$506$319$198$74
37 years$1,136$744$474$294$180$64
38 years$1,093$707$444$271$163$57
39 years$1,054$673$416$250$148$50
40 years$1,016$640$389$231$134$43
41 years$980$609$365$213$121$38
42 years$946$580$343$196$110$33
43 years$914$553$321$181$100$29
44 years$883$527$302$167$91$26
45 years$853$502$283$155$82$22
46 years$825$479$266$143$75$20
47 years$799$457$250$132$68$17
48 years$773$437$235$122$62$15
49 years$749$417$221$113$56$13
50 years$725$398$208$104$51$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $743,000, adding $4,263 every year, while hoping to spend $50,449 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: 63/14/23 Blend
62$743,000$743,000$743,000$743,000
63$823,183$783,804$772,288$869,843
64$853,471$768,533$744,482$886,596
65$885,156$750,823$714,054$898,893
66$918,330$730,501$680,863$911,188
67$953,088$707,385$644,760$923,484
68$989,536$681,279$605,593$935,791
69$1,027,788$651,981$563,199$948,118
70$1,067,967$619,272$517,410$960,480
71$1,110,207$582,924$468,051$972,896
72$1,154,655$542,695$414,938$985,386
73$1,201,470$498,327$357,878$997,980
74$1,250,824$449,549$296,672$1,010,708
75$1,302,908$396,076$231,109$1,023,612
76$1,357,925$337,605$160,972$1,036,736
77$1,416,101$273,815$86,032$1,050,137
78$1,477,680$204,369$6,051$1,063,878
79$1,542,930$128,910$0$1,078,033
80$1,612,144$47,061$0$1,112,151
81$1,685,640$0$0$1,149,717
82$1,763,768$0$0$1,195,833
83$1,846,909$0$0$1,252,651
84$1,935,484$0$0$1,313,213
85$2,029,949$0$0$1,377,835
86$2,130,806$0$0$1,446,865
87$2,238,606$0$0$1,520,683
88$2,353,950$0$0$1,599,707
89$2,477,501$0$0$1,684,395
90$2,609,982$0$0$1,775,249
91$2,752,189$0$0$1,872,819
92$2,904,995$0$0$1,977,712
93$3,069,357$0$0$2,090,591
94$3,246,329$0$0$2,212,184
95$3,437,064$0$0$2,343,293
96$3,642,832$0$0$2,484,797
97$3,865,026$0$0$2,637,663
98$4,105,179$0$0$2,802,954
99$4,364,975$0$0$2,981,835
100$4,646,263$0$0$3,175,591