Can I retire at age 63 with 744,000?

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 $744,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.8%
1 years$61,439$60,892$60,358$59,836$59,328$57,223
2 years$30,415$29,849$29,300$28,768$28,251$26,153
3 years$20,075$19,507$18,959$18,432$17,924$15,898
4 years$14,907$14,339$13,797$13,279$12,783$10,846
5 years$11,806$11,242$10,707$10,200$9,718$7,873
6 years$9,740$9,180$8,653$8,157$7,689$5,939
7 years$8,264$7,709$7,191$6,706$6,253$4,598
8 years$7,158$6,608$6,098$5,626$5,188$3,625
9 years$6,298$5,754$5,252$4,792$4,369$2,897
10 years$5,611$5,072$4,579$4,130$3,723$2,339
11 years$5,049$4,515$4,031$3,595$3,202$1,903
12 years$4,581$4,052$3,578$3,153$2,774$1,558
13 years$4,185$3,662$3,197$2,784$2,419$1,282
14 years$3,846$3,329$2,872$2,471$2,121$1,059
15 years$3,553$3,041$2,593$2,204$1,867$878
16 years$3,296$2,790$2,351$1,973$1,650$730
17 years$3,070$2,570$2,139$1,773$1,463$608
18 years$2,869$2,374$1,953$1,598$1,301$507
19 years$2,690$2,201$1,788$1,444$1,160$424
20 years$2,529$2,045$1,641$1,308$1,036$354
21 years$2,383$1,905$1,509$1,187$927$297
22 years$2,251$1,778$1,391$1,079$831$249
23 years$2,130$1,663$1,284$983$746$209
24 years$2,020$1,558$1,188$896$670$175
25 years$1,918$1,462$1,100$818$603$147
26 years$1,825$1,374$1,020$748$543$123
27 years$1,738$1,293$947$685$490$104
28 years$1,658$1,219$881$628$442$87
29 years$1,584$1,150$820$576$399$73
30 years$1,514$1,086$763$528$361$62
31 years$1,450$1,026$712$485$326$52
32 years$1,389$971$664$446$295$44
33 years$1,332$920$620$410$267$37
34 years$1,279$872$579$377$242$31
35 years$1,229$827$542$347$219$26
36 years$1,182$785$507$320$198$22
37 years$1,137$745$474$295$180$18
38 years$1,095$708$444$272$163$15
39 years$1,055$674$416$250$148$13
40 years$1,017$641$390$231$134$11
41 years$981$610$366$213$122$9
42 years$947$581$343$197$110$8
43 years$915$553$322$182$100$7
44 years$884$528$302$168$91$5
45 years$855$503$284$155$83$5
46 years$827$480$266$143$75$4
47 years$800$458$250$132$68$3
48 years$774$437$235$122$62$3
49 years$750$418$221$113$56$2
50 years$726$399$208$104$51$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $744,000, adding $2,535 every year, while hoping to spend $22,143 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: 60/12/28 Blend
62$744,000$744,000$744,000$744,000
63$822,503$783,071$771,539$865,480
64$882,838$797,881$773,825$909,901
65$948,586$812,675$775,446$955,761
66$1,020,274$827,429$776,356$1,005,340
67$1,098,484$842,116$776,507$1,059,006
68$1,183,858$856,708$775,848$1,117,163
69$1,277,099$871,174$774,327$1,180,260
70$1,378,985$885,483$771,889$1,248,788
71$1,490,369$899,599$768,474$1,323,293
72$1,612,192$913,485$764,024$1,404,373
73$1,745,490$927,100$758,473$1,492,690
74$1,891,403$940,401$751,755$1,588,973
75$2,051,188$953,342$743,800$1,694,027
76$2,226,226$965,873$734,534$1,808,738
77$2,418,042$977,942$723,882$1,934,085
78$2,628,312$989,491$711,762$2,071,147
79$2,858,884$1,000,460$698,090$2,221,114
80$3,111,793$1,010,785$682,779$2,385,296
81$3,389,279$1,020,397$665,735$2,565,141
82$3,693,812$1,029,223$646,864$2,762,244
83$4,028,110$1,037,184$626,063$2,978,364
84$4,395,168$1,044,198$603,227$3,215,440
85$4,798,287$1,050,175$578,247$3,475,611
86$5,241,100$1,055,021$551,006$3,761,236
87$5,727,612$1,058,637$521,385$4,074,913
88$6,262,234$1,060,915$489,256$4,419,510
89$6,849,824$1,061,743$454,489$4,798,188
90$7,495,738$1,061,000$416,946$5,214,431
91$8,205,872$1,058,558$376,483$5,672,083
92$8,986,726$1,054,282$332,950$6,175,378
93$9,845,458$1,048,028$286,190$6,728,988
94$10,789,957$1,039,643$236,039$7,338,062
95$11,828,913$1,028,966$182,326$8,008,276
96$12,971,901$1,015,824$124,873$8,745,888
97$14,229,471$1,000,037$63,493$9,557,798
98$15,613,249$981,410$0$10,451,610
99$17,136,042$959,741$0$11,436,310
100$18,811,962$934,812$0$12,540,823