Can I retire at age 63 with 797,000?

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 $797,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$65,816$65,229$64,657$64,099$63,554$63,206
2 years$32,582$31,975$31,387$30,817$30,264$29,913
3 years$21,506$20,896$20,309$19,745$19,201$18,858
4 years$15,968$15,361$14,780$14,225$13,694$13,361
5 years$12,647$12,043$11,470$10,926$10,410$10,089
6 years$10,433$9,834$9,269$8,738$8,237$7,928
7 years$8,853$8,259$7,703$7,184$6,699$6,401
8 years$7,668$7,079$6,533$6,026$5,557$5,272
9 years$6,747$6,164$5,627$5,133$4,680$4,406
10 years$6,011$5,433$4,905$4,425$3,988$3,726
11 years$5,409$4,837$4,319$3,851$3,430$3,179
12 years$4,907$4,341$3,833$3,378$2,972$2,733
13 years$4,483$3,923$3,424$2,982$2,592$2,363
14 years$4,120$3,566$3,077$2,647$2,272$2,054
15 years$3,806$3,258$2,778$2,361$2,000$1,794
16 years$3,531$2,989$2,519$2,114$1,768$1,571
17 years$3,289$2,753$2,292$1,899$1,568$1,381
18 years$3,074$2,544$2,092$1,712$1,394$1,217
19 years$2,882$2,357$1,915$1,547$1,242$1,075
20 years$2,709$2,191$1,758$1,401$1,110$951
21 years$2,553$2,040$1,617$1,271$993$843
22 years$2,411$1,905$1,490$1,156$890$749
23 years$2,282$1,781$1,376$1,053$799$665
24 years$2,163$1,669$1,272$960$718$592
25 years$2,055$1,566$1,178$877$646$528
26 years$1,955$1,472$1,093$802$582$471
27 years$1,862$1,385$1,015$734$525$420
28 years$1,776$1,305$944$672$474$375
29 years$1,697$1,232$878$617$428$335
30 years$1,622$1,163$818$566$386$300
31 years$1,553$1,099$762$520$349$268
32 years$1,488$1,040$711$478$316$240
33 years$1,427$985$664$439$286$215
34 years$1,370$934$621$404$259$193
35 years$1,316$886$580$372$234$173
36 years$1,266$841$543$343$212$155
37 years$1,218$798$508$316$193$139
38 years$1,173$759$476$291$175$124
39 years$1,130$721$446$268$158$111
40 years$1,090$686$418$247$144$100
41 years$1,051$653$392$228$130$90
42 years$1,015$622$367$211$118$81
43 years$980$593$345$194$107$72
44 years$947$565$324$180$97$65
45 years$915$539$304$166$88$58
46 years$885$514$285$153$80$52
47 years$857$491$268$142$73$47
48 years$829$468$252$131$66$42
49 years$803$447$237$121$60$38
50 years$778$427$223$112$55$34

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $797,000, adding $2,383 every year, while hoping to spend $36,063 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: 64/6/30 Blend
62$797,000$797,000$797,000$797,000
63$880,752$838,511$826,158$929,910
64$932,218$841,227$815,463$966,259
65$987,725$842,868$803,202$1,001,803
66$1,047,647$843,342$789,283$1,039,877
67$1,112,394$842,554$773,612$1,080,734
68$1,182,420$840,400$756,089$1,124,657
69$1,258,220$836,773$736,611$1,171,957
70$1,340,339$831,556$715,069$1,222,977
71$1,429,380$824,628$691,349$1,278,099
72$1,526,000$815,859$665,333$1,337,743
73$1,630,927$805,111$636,897$1,402,374
74$1,744,959$792,238$605,910$1,472,506
75$1,868,973$777,087$572,236$1,548,706
76$2,003,937$759,493$535,735$1,631,602
77$2,150,914$739,283$496,257$1,721,886
78$2,311,074$716,274$453,648$1,820,326
79$2,485,703$690,272$407,746$1,927,766
80$2,676,221$661,071$358,381$2,045,142
81$2,884,186$628,454$305,377$2,173,484
82$3,111,315$592,191$248,550$2,313,933
83$3,359,500$552,038$187,707$2,467,746
84$3,630,820$507,740$122,646$2,636,313
85$3,927,568$459,023$53,159$2,821,168
86$4,252,266$405,601$0$3,024,005
87$4,607,691$347,170$0$3,253,414
88$4,996,904$283,409$0$3,523,333
89$5,423,271$213,979$0$3,819,082
90$5,890,504$138,523$0$4,143,254
91$6,402,687$56,663$0$4,498,707
92$6,964,321$0$0$4,888,588
93$7,580,361$0$0$5,318,478
94$8,256,265$0$0$5,794,305
95$8,998,048$0$0$6,316,566
96$9,812,331$0$0$6,889,932
97$10,706,410$0$0$7,519,547
98$11,688,321$0$0$8,211,078
99$12,766,918$0$0$8,970,768
100$13,951,953$0$0$9,805,495