Can I retire at age 63 with 747,000?

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 $747,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$61,687$61,137$60,601$60,078$59,567$58,994
2 years$30,538$29,969$29,418$28,884$28,365$27,788
3 years$20,156$19,585$19,035$18,506$17,996$17,433
4 years$14,967$14,397$13,853$13,333$12,835$12,289
5 years$11,854$11,288$10,750$10,241$9,757$9,231
6 years$9,779$9,217$8,688$8,190$7,720$7,215
7 years$8,298$7,741$7,220$6,733$6,279$5,794
8 years$7,187$6,635$6,123$5,648$5,209$4,744
9 years$6,324$5,777$5,274$4,811$4,387$3,942
10 years$5,634$5,092$4,598$4,147$3,738$3,313
11 years$5,069$4,533$4,048$3,609$3,214$2,810
12 years$4,599$4,069$3,592$3,166$2,786$2,400
13 years$4,202$3,677$3,209$2,795$2,429$2,063
14 years$3,862$3,342$2,884$2,481$2,129$1,781
15 years$3,567$3,053$2,604$2,213$1,875$1,545
16 years$3,309$2,801$2,361$1,981$1,657$1,344
17 years$3,082$2,580$2,148$1,780$1,469$1,173
18 years$2,881$2,384$1,961$1,604$1,306$1,026
19 years$2,701$2,209$1,795$1,450$1,164$900
20 years$2,539$2,053$1,647$1,313$1,040$791
21 years$2,392$1,912$1,515$1,191$931$696
22 years$2,260$1,785$1,397$1,083$834$613
23 years$2,139$1,670$1,289$987$749$541
24 years$2,028$1,564$1,193$900$673$478
25 years$1,926$1,468$1,105$822$606$422
26 years$1,832$1,380$1,024$751$546$374
27 years$1,745$1,298$951$688$492$331
28 years$1,665$1,224$884$630$444$293
29 years$1,590$1,154$823$578$401$260
30 years$1,521$1,090$767$530$362$231
31 years$1,456$1,030$715$487$327$205
32 years$1,395$975$667$448$296$182
33 years$1,338$923$623$412$268$161
34 years$1,284$875$582$379$243$143
35 years$1,234$830$544$349$220$127
36 years$1,186$788$509$321$199$113
37 years$1,142$748$476$296$180$101
38 years$1,099$711$446$273$164$89
39 years$1,059$676$418$251$148$80
40 years$1,021$643$392$232$135$71
41 years$985$612$367$214$122$63
42 years$951$583$344$197$111$56
43 years$919$556$323$182$101$50
44 years$888$530$303$168$91$44
45 years$858$505$285$155$83$39
46 years$830$482$268$144$75$35
47 years$803$460$251$133$68$31
48 years$777$439$236$123$62$28
49 years$753$419$222$113$56$25
50 years$729$400$209$105$51$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $747,000, adding $6,054 every year, while hoping to spend $44,694 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: 67/21/12 Blend
62$747,000$747,000$747,000$747,000
63$829,439$789,848$778,269$882,408
64$866,487$780,996$756,787$909,595
65$905,817$770,213$733,087$933,443
66$947,613$757,356$707,049$958,369
67$992,079$742,276$678,544$984,474
68$1,039,436$724,812$647,440$1,011,871
69$1,089,928$704,797$613,599$1,040,685
70$1,143,820$682,052$576,874$1,071,056
71$1,201,405$656,389$537,115$1,103,138
72$1,263,003$627,606$494,163$1,137,104
73$1,328,964$595,494$447,852$1,173,147
74$1,399,673$559,827$398,010$1,211,480
75$1,475,552$520,371$344,455$1,252,339
76$1,557,063$476,874$286,999$1,295,988
77$1,644,715$429,072$225,445$1,342,721
78$1,739,065$376,686$159,587$1,392,861
79$1,840,727$319,421$89,211$1,446,770
80$1,950,374$256,965$14,091$1,504,849
81$2,068,743$188,988$0$1,567,541
82$2,196,649$115,142$0$1,643,800
83$2,334,983$35,059$0$1,728,188
84$2,484,727$0$0$1,819,538
85$2,646,959$0$0$1,930,490
86$2,822,866$0$0$2,059,617
87$3,013,752$0$0$2,199,780
88$3,221,051$0$0$2,352,038
89$3,446,341$0$0$2,517,554
90$3,691,359$0$0$2,697,609
91$3,958,013$0$0$2,893,612
92$4,248,405$0$0$3,107,115
93$4,564,848$0$0$3,339,823
94$4,909,885$0$0$3,593,615
95$5,286,318$0$0$3,870,556
96$5,697,230$0$0$4,172,924
97$6,146,013$0$0$4,503,221
98$6,636,404$0$0$4,864,205
99$7,172,514$0$0$5,258,912
100$7,758,873$0$0$5,690,683