Can I retire at age 63 with 788,000?

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 $788,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11%
1 years$65,072$64,493$63,927$63,375$62,836$62,571
2 years$32,214$31,614$31,033$30,469$29,922$29,655
3 years$21,263$20,660$20,080$19,522$18,984$18,722
4 years$15,788$15,187$14,613$14,064$13,539$13,286
5 years$12,504$11,907$11,340$10,803$10,292$10,047
6 years$10,316$9,723$9,165$8,639$8,144$7,908
7 years$8,753$8,165$7,616$7,103$6,623$6,396
8 years$7,582$6,999$6,459$5,958$5,495$5,276
9 years$6,671$6,094$5,563$5,075$4,627$4,418
10 years$5,943$5,372$4,850$4,375$3,943$3,742
11 years$5,348$4,782$4,270$3,807$3,391$3,199
12 years$4,852$4,292$3,789$3,340$2,938$2,755
13 years$4,433$3,879$3,386$2,948$2,562$2,387
14 years$4,074$3,526$3,042$2,617$2,246$2,079
15 years$3,763$3,221$2,746$2,334$1,978$1,819
16 years$3,491$2,955$2,490$2,090$1,748$1,597
17 years$3,252$2,721$2,266$1,878$1,550$1,406
18 years$3,039$2,515$2,068$1,692$1,378$1,242
19 years$2,849$2,331$1,894$1,529$1,228$1,099
20 years$2,678$2,166$1,738$1,385$1,097$975
21 years$2,524$2,017$1,598$1,257$982$866
22 years$2,384$1,883$1,473$1,143$880$770
23 years$2,256$1,761$1,360$1,041$790$686
24 years$2,139$1,650$1,258$949$710$612
25 years$2,032$1,549$1,165$867$639$547
26 years$1,933$1,455$1,081$793$576$489
27 years$1,841$1,370$1,003$726$519$437
28 years$1,756$1,291$933$665$468$392
29 years$1,677$1,218$868$610$423$351
30 years$1,604$1,150$809$559$382$314
31 years$1,535$1,087$754$514$345$282
32 years$1,471$1,029$703$472$312$253
33 years$1,411$974$657$434$283$227
34 years$1,355$923$614$400$256$204
35 years$1,302$876$574$368$232$183
36 years$1,252$831$537$339$210$165
37 years$1,204$789$502$312$190$148
38 years$1,160$750$470$288$173$133
39 years$1,117$713$441$265$157$120
40 years$1,077$679$413$245$142$108
41 years$1,039$646$387$226$129$97
42 years$1,003$615$363$208$117$87
43 years$969$586$341$192$106$78
44 years$936$559$320$178$96$70
45 years$905$533$300$164$87$63
46 years$875$508$282$151$79$57
47 years$847$485$265$140$72$51
48 years$820$463$249$129$65$46
49 years$794$442$234$119$59$42
50 years$769$422$220$110$54$37

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $788,000, adding $6,367 every year, while hoping to spend $51,677 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: 59/18/23 Blend
62$788,000$788,000$788,000$788,000
63$874,944$833,180$820,966$920,836
64$909,204$819,021$793,484$938,626
65$945,227$802,438$763,350$951,886
66$983,137$783,255$730,420$965,222
67$1,023,072$761,289$694,543$978,653
68$1,065,179$736,346$655,564$992,201
69$1,109,621$708,220$613,319$1,005,893
70$1,156,573$676,693$567,635$1,019,763
71$1,206,227$641,535$518,336$1,033,851
72$1,258,795$602,503$465,232$1,048,201
73$1,314,505$559,338$408,130$1,062,869
74$1,373,607$511,769$346,826$1,077,917
75$1,436,376$459,507$281,105$1,093,419
76$1,503,111$402,247$210,747$1,109,460
77$1,574,141$339,670$135,520$1,126,137
78$1,649,823$271,434$55,180$1,143,562
79$1,730,552$197,180$0$1,161,861
80$1,816,757$116,530$0$1,188,682
81$1,908,909$29,084$0$1,231,628
82$2,007,527$0$0$1,277,400
83$2,113,177$0$0$1,339,272
84$2,226,481$0$0$1,411,848
85$2,348,122$0$0$1,489,810
86$2,478,848$0$0$1,573,643
87$2,619,481$0$0$1,663,881
88$2,770,925$0$0$1,761,111
89$2,934,170$0$0$1,865,974
90$3,110,305$0$0$1,979,177
91$3,300,526$0$0$2,101,498
92$3,506,149$0$0$2,233,790
93$3,728,617$0$0$2,376,991
94$3,969,520$0$0$2,532,132
95$4,230,604$0$0$2,700,347
96$4,513,787$0$0$2,882,883
97$4,821,184$0$0$3,081,111
98$5,155,114$0$0$3,296,540
99$5,518,134$0$0$3,530,829
100$5,913,054$0$0$3,785,804