Can I retire at age 63 with 794,000?

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 $794,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$65,568$64,984$64,414$63,858$63,315$61,559
2 years$32,459$31,855$31,269$30,701$30,150$28,395
3 years$21,425$20,817$20,233$19,670$19,128$17,428
4 years$15,908$15,303$14,724$14,171$13,642$12,010
5 years$12,599$11,998$11,427$10,885$10,371$8,811
6 years$10,394$9,797$9,235$8,705$8,206$6,720
7 years$8,820$8,228$7,674$7,157$6,674$5,262
8 years$7,639$7,053$6,508$6,004$5,536$4,198
9 years$6,722$6,141$5,605$5,114$4,663$3,396
10 years$5,988$5,413$4,887$4,408$3,973$2,776
11 years$5,388$4,818$4,302$3,836$3,417$2,288
12 years$4,889$4,325$3,818$3,365$2,961$1,899
13 years$4,466$3,908$3,411$2,971$2,582$1,584
14 years$4,105$3,553$3,065$2,637$2,263$1,327
15 years$3,791$3,245$2,767$2,352$1,993$1,115
16 years$3,518$2,978$2,509$2,106$1,761$940
17 years$3,276$2,742$2,283$1,892$1,562$795
18 years$3,062$2,534$2,084$1,705$1,389$673
19 years$2,871$2,348$1,908$1,541$1,238$571
20 years$2,699$2,182$1,751$1,395$1,105$485
21 years$2,543$2,033$1,611$1,266$989$412
22 years$2,402$1,897$1,484$1,151$887$351
23 years$2,273$1,775$1,371$1,049$796$299
24 years$2,155$1,663$1,268$956$715$255
25 years$2,047$1,560$1,174$873$644$218
26 years$1,947$1,467$1,089$799$580$186
27 years$1,855$1,380$1,011$731$523$159
28 years$1,770$1,301$940$670$472$135
29 years$1,690$1,227$875$614$426$116
30 years$1,616$1,159$815$564$385$99
31 years$1,547$1,095$760$518$348$85
32 years$1,483$1,036$709$476$315$72
33 years$1,422$981$662$438$285$62
34 years$1,365$930$618$403$258$53
35 years$1,312$882$578$371$234$45
36 years$1,261$837$541$341$212$39
37 years$1,213$795$506$314$192$33
38 years$1,168$756$474$290$174$28
39 years$1,126$719$444$267$158$24
40 years$1,086$684$416$247$143$21
41 years$1,047$651$390$227$130$18
42 years$1,011$620$366$210$118$15
43 years$976$591$344$194$107$13
44 years$943$563$322$179$97$11
45 years$912$537$303$165$88$10
46 years$882$512$284$153$80$8
47 years$854$489$267$141$73$7
48 years$826$467$251$130$66$6
49 years$800$446$236$120$60$5
50 years$775$426$222$111$54$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $794,000, adding $6,059 every year, while hoping to spend $23,991 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: 38/38/24 Blend
62$794,000$794,000$794,000$794,000
63$881,238$839,156$826,849$908,214
64$945,598$854,748$829,022$943,999
65$1,015,719$870,301$830,464$979,972
66$1,092,162$885,786$831,125$1,018,375
67$1,175,547$901,174$830,952$1,059,440
68$1,266,556$916,434$829,891$1,103,428
69$1,365,936$931,531$827,885$1,150,625
70$1,474,515$946,429$824,872$1,201,346
71$1,593,200$961,088$820,790$1,255,941
72$1,722,992$975,467$815,572$1,314,795
73$1,864,992$989,520$809,148$1,378,335
74$2,020,413$1,003,199$801,447$1,447,031
75$2,190,590$1,016,451$792,391$1,521,403
76$2,376,995$1,029,222$781,900$1,602,024
77$2,581,247$1,041,451$769,892$1,689,529
78$2,805,128$1,053,077$756,278$1,784,618
79$3,050,605$1,064,031$740,966$1,888,064
80$3,319,839$1,074,242$723,862$2,000,720
81$3,615,215$1,083,632$704,863$2,123,528
82$3,939,357$1,092,119$683,866$2,257,530
83$4,295,156$1,099,618$660,760$2,403,875
84$4,685,797$1,106,035$635,431$2,563,829
85$5,114,789$1,111,270$607,758$2,738,795
86$5,585,995$1,115,220$577,616$2,930,316
87$6,103,674$1,117,773$544,873$3,140,099
88$6,672,514$1,118,810$509,392$3,370,027
89$7,297,684$1,118,205$471,030$3,622,178
90$7,984,876$1,115,825$429,638$3,898,844
91$8,740,360$1,111,527$385,057$4,202,558
92$9,571,045$1,105,161$337,125$4,536,110
93$10,484,545$1,096,566$285,672$4,902,584
94$11,489,245$1,085,574$230,518$5,305,380
95$12,594,385$1,072,005$171,478$5,748,248
96$13,810,147$1,055,668$108,357$6,235,329
97$15,147,747$1,036,361$40,952$6,771,189
98$16,619,544$1,013,870$0$7,360,866
99$18,239,157$987,969$0$8,017,851
100$20,021,590$958,418$0$8,752,048