Can I retire at age 63 with 744,000?

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 $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%11.2%
1 years$61,439$60,892$60,358$59,836$59,328$59,028
2 years$30,415$29,849$29,300$28,768$28,251$27,949
3 years$20,075$19,507$18,959$18,432$17,924$17,628
4 years$14,907$14,339$13,797$13,279$12,783$12,496
5 years$11,806$11,242$10,707$10,200$9,718$9,441
6 years$9,740$9,180$8,653$8,157$7,689$7,422
7 years$8,264$7,709$7,191$6,706$6,253$5,997
8 years$7,158$6,608$6,098$5,626$5,188$4,941
9 years$6,298$5,754$5,252$4,792$4,369$4,132
10 years$5,611$5,072$4,579$4,130$3,723$3,496
11 years$5,049$4,515$4,031$3,595$3,202$2,985
12 years$4,581$4,052$3,578$3,153$2,774$2,568
13 years$4,185$3,662$3,197$2,784$2,419$2,222
14 years$3,846$3,329$2,872$2,471$2,121$1,933
15 years$3,553$3,041$2,593$2,204$1,867$1,688
16 years$3,296$2,790$2,351$1,973$1,650$1,480
17 years$3,070$2,570$2,139$1,773$1,463$1,302
18 years$2,869$2,374$1,953$1,598$1,301$1,148
19 years$2,690$2,201$1,788$1,444$1,160$1,015
20 years$2,529$2,045$1,641$1,308$1,036$899
21 years$2,383$1,905$1,509$1,187$927$797
22 years$2,251$1,778$1,391$1,079$831$708
23 years$2,130$1,663$1,284$983$746$630
24 years$2,020$1,558$1,188$896$670$561
25 years$1,918$1,462$1,100$818$603$500
26 years$1,825$1,374$1,020$748$543$447
27 years$1,738$1,293$947$685$490$399
28 years$1,658$1,219$881$628$442$357
29 years$1,584$1,150$820$576$399$319
30 years$1,514$1,086$763$528$361$285
31 years$1,450$1,026$712$485$326$256
32 years$1,389$971$664$446$295$229
33 years$1,332$920$620$410$267$205
34 years$1,279$872$579$377$242$184
35 years$1,229$827$542$347$219$165
36 years$1,182$785$507$320$198$148
37 years$1,137$745$474$295$180$133
38 years$1,095$708$444$272$163$119
39 years$1,055$674$416$250$148$107
40 years$1,017$641$390$231$134$96
41 years$981$610$366$213$122$86
42 years$947$581$343$197$110$77
43 years$915$553$322$182$100$70
44 years$884$528$302$168$91$62
45 years$855$503$284$155$83$56
46 years$827$480$266$143$75$50
47 years$800$458$250$132$68$45
48 years$774$437$235$122$62$41
49 years$750$418$221$113$56$37
50 years$726$399$208$104$51$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $744,000, adding $3,222 every year, while hoping to spend $56,001 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: 38/36/26 Blend
62$744,000$744,000$744,000$744,000
63$823,211$783,779$772,247$848,009
64$847,594$762,600$738,533$845,258
65$872,588$738,506$701,812$836,880
66$898,194$711,295$661,926$826,735
67$924,415$680,754$618,706$814,698
68$951,251$646,656$571,978$800,637
69$978,699$608,763$521,559$784,412
70$1,006,755$566,821$467,261$765,874
71$1,035,412$520,564$408,882$744,866
72$1,064,661$469,708$346,216$721,221
73$1,094,487$413,954$279,044$694,763
74$1,124,874$352,987$207,142$665,305
75$1,155,801$286,473$130,271$632,649
76$1,187,242$214,061$48,185$596,584
77$1,219,168$135,376$0$556,888
78$1,251,541$50,028$0$524,260
79$1,284,318$0$0$502,492
80$1,317,451$0$0$494,811
81$1,350,880$0$0$507,017
82$1,384,538$0$0$519,264
83$1,418,350$0$0$531,516
84$1,452,227$0$0$543,736
85$1,486,069$0$0$555,880
86$1,519,764$0$0$567,897
87$1,553,182$0$0$579,733
88$1,586,178$0$0$591,324
89$1,618,588$0$0$602,600
90$1,650,230$0$0$613,481
91$1,680,894$0$0$623,879
92$1,710,351$0$0$633,693
93$1,738,339$0$0$642,814
94$1,764,568$0$0$651,116
95$1,788,713$0$0$658,461
96$1,810,412$0$0$664,694
97$1,829,261$0$0$669,644
98$1,844,810$0$0$673,119
99$1,856,556$0$0$674,907
100$1,863,944$0$0$674,770