Can I retire at age 63 with 796,000?

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 $796,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$65,733$65,147$64,576$64,019$63,474$61,915
2 years$32,541$31,935$31,348$30,778$30,226$28,664
3 years$21,479$20,870$20,284$19,720$19,176$17,662
4 years$15,948$15,342$14,762$14,207$13,677$12,220
5 years$12,631$12,028$11,456$10,912$10,397$9,003
6 years$10,420$9,822$9,258$8,727$8,227$6,897
7 years$8,842$8,248$7,693$7,175$6,691$5,425
8 years$7,659$7,070$6,525$6,019$5,550$4,348
9 years$6,739$6,156$5,620$5,127$4,674$3,534
10 years$6,003$5,426$4,899$4,419$3,983$2,904
11 years$5,402$4,831$4,313$3,846$3,425$2,406
12 years$4,901$4,336$3,828$3,373$2,968$2,007
13 years$4,478$3,918$3,420$2,978$2,588$1,683
14 years$4,115$3,562$3,073$2,644$2,269$1,418
15 years$3,801$3,254$2,774$2,358$1,998$1,199
16 years$3,527$2,985$2,515$2,111$1,766$1,016
17 years$3,285$2,749$2,289$1,897$1,566$864
18 years$3,070$2,540$2,089$1,709$1,392$736
19 years$2,878$2,354$1,913$1,545$1,241$628
20 years$2,705$2,188$1,755$1,399$1,108$537
21 years$2,549$2,038$1,615$1,270$992$459
22 years$2,408$1,902$1,488$1,154$889$393
23 years$2,279$1,779$1,374$1,051$798$337
24 years$2,161$1,667$1,271$959$717$289
25 years$2,052$1,564$1,177$876$645$248
26 years$1,952$1,470$1,092$801$581$213
27 years$1,860$1,384$1,014$733$524$183
28 years$1,774$1,304$942$671$473$158
29 years$1,694$1,230$877$616$427$136
30 years$1,620$1,162$817$565$386$117
31 years$1,551$1,098$761$519$349$100
32 years$1,486$1,039$710$477$316$87
33 years$1,426$984$663$439$286$74
34 years$1,368$933$620$404$259$64
35 years$1,315$885$579$372$234$55
36 years$1,264$840$542$342$212$48
37 years$1,217$797$507$315$192$41
38 years$1,171$758$475$291$174$35
39 years$1,129$721$445$268$158$30
40 years$1,088$686$417$247$143$26
41 years$1,050$653$391$228$130$23
42 years$1,013$622$367$210$118$19
43 years$979$592$344$194$107$17
44 years$946$564$323$179$97$14
45 years$914$538$304$166$88$12
46 years$884$513$285$153$80$11
47 years$856$490$268$141$73$9
48 years$828$468$252$131$66$8
49 years$802$447$237$121$60$7
50 years$777$427$222$112$55$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $796,000, adding $6,549 every year, while hoping to spend $31,058 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: 34/43/23 Blend
62$796,000$796,000$796,000$796,000
63$883,947$841,759$829,421$907,619
64$941,064$849,960$824,161$933,994
65$1,002,967$857,522$817,684$959,124
66$1,070,109$864,380$809,917$985,597
67$1,142,993$870,467$800,781$1,013,549
68$1,222,168$875,710$790,197$1,043,136
69$1,308,240$880,031$778,080$1,074,529
70$1,401,877$883,349$764,342$1,107,921
71$1,503,810$885,575$748,890$1,143,524
72$1,614,848$886,617$731,626$1,181,576
73$1,735,877$886,376$712,450$1,222,341
74$1,867,875$884,747$691,256$1,266,113
75$2,011,917$881,619$667,932$1,313,217
76$2,169,188$876,873$642,363$1,364,018
77$2,340,990$870,384$614,427$1,418,917
78$2,528,758$862,020$583,998$1,478,363
79$2,734,071$851,639$550,942$1,542,851
80$2,958,669$839,092$515,121$1,612,934
81$3,204,466$824,220$476,390$1,689,223
82$3,473,571$806,856$434,598$1,772,397
83$3,768,305$786,822$389,587$1,863,207
84$4,091,226$763,930$341,192$1,962,489
85$4,445,149$737,981$289,240$2,071,165
86$4,833,176$708,763$233,551$2,190,261
87$5,258,722$676,055$173,937$2,320,911
88$5,725,549$639,619$110,202$2,464,371
89$6,237,802$599,207$42,140$2,622,034
90$6,800,044$554,555$0$2,795,439
91$7,417,303$505,383$0$2,993,775
92$8,095,118$451,397$0$3,222,968
93$8,839,589$392,284$0$3,474,811
94$9,657,438$327,717$0$3,751,672
95$10,556,068$257,346$0$4,056,169
96$11,543,636$180,805$0$4,391,191
97$12,629,127$97,705$0$4,759,929
98$13,822,442$7,636$0$5,165,908
99$15,134,487$0$0$5,613,019
100$16,577,278$0$0$6,148,063