Can I retire at age 63 with 696,000?

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 $696,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.5%
1 years$57,475$56,963$56,464$55,976$55,500$54,246
2 years$28,453$27,923$27,410$26,912$26,429$25,172
3 years$18,780$18,248$17,736$17,243$16,767$15,548
4 years$13,945$13,414$12,907$12,422$11,959$10,785
5 years$11,044$10,517$10,016$9,541$9,091$7,966
6 years$9,111$8,588$8,095$7,630$7,193$6,119
7 years$7,731$7,212$6,727$6,273$5,850$4,827
8 years$6,696$6,182$5,705$5,263$4,853$3,880
9 years$5,892$5,383$4,914$4,483$4,087$3,163
10 years$5,249$4,745$4,284$3,864$3,482$2,607
11 years$4,723$4,224$3,771$3,363$2,995$2,167
12 years$4,285$3,791$3,347$2,950$2,595$1,814
13 years$3,915$3,426$2,990$2,604$2,263$1,526
14 years$3,598$3,114$2,687$2,312$1,984$1,290
15 years$3,324$2,845$2,426$2,062$1,747$1,094
16 years$3,084$2,610$2,199$1,846$1,544$931
17 years$2,872$2,404$2,001$1,659$1,369$794
18 years$2,684$2,221$1,827$1,495$1,217$679
19 years$2,516$2,059$1,673$1,351$1,085$582
20 years$2,365$1,913$1,535$1,223$969$499
21 years$2,229$1,782$1,412$1,110$867$429
22 years$2,105$1,663$1,301$1,009$777$369
23 years$1,993$1,556$1,201$919$698$317
24 years$1,889$1,458$1,111$838$627$273
25 years$1,794$1,368$1,029$766$564$236
26 years$1,707$1,286$954$700$508$203
27 years$1,626$1,210$886$641$458$175
28 years$1,551$1,140$824$587$414$151
29 years$1,482$1,075$767$538$373$131
30 years$1,417$1,016$714$494$337$113
31 years$1,356$960$666$454$305$98
32 years$1,300$908$621$417$276$84
33 years$1,246$860$580$384$250$73
34 years$1,197$815$542$353$226$63
35 years$1,150$773$507$325$205$55
36 years$1,105$734$474$299$186$47
37 years$1,064$697$444$276$168$41
38 years$1,024$663$415$254$152$35
39 years$987$630$389$234$138$31
40 years$952$599$365$216$125$26
41 years$918$571$342$199$114$23
42 years$886$543$321$184$103$20
43 years$856$518$301$170$94$17
44 years$827$494$283$157$85$15
45 years$799$471$265$145$77$13
46 years$773$449$249$134$70$11
47 years$748$428$234$124$64$10
48 years$724$409$220$114$58$8
49 years$701$391$207$106$52$7
50 years$680$373$194$98$48$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $696,000, adding $6,039 every year, while hoping to spend $45,933 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: 51/29/20 Blend
62$696,000$696,000$696,000$696,000
63$773,221$736,333$725,545$808,082
64$803,217$723,541$700,979$819,989
65$834,734$708,583$674,050$827,698
66$867,877$691,304$644,630$835,103
67$902,762$671,540$612,588$842,193
68$939,517$649,118$577,782$848,958
69$978,277$623,854$540,068$855,388
70$1,019,194$595,555$499,292$861,478
71$1,062,429$564,015$455,296$867,224
72$1,108,162$529,017$407,913$872,625
73$1,156,586$490,331$356,970$877,686
74$1,207,915$447,714$302,286$882,414
75$1,262,380$400,909$243,670$886,823
76$1,320,235$349,646$180,925$890,933
77$1,381,758$293,637$113,845$894,769
78$1,447,252$232,580$42,213$898,365
79$1,517,049$166,155$0$901,766
80$1,591,515$94,023$0$912,328
81$1,671,048$15,828$0$932,901
82$1,756,084$0$0$954,598
83$1,847,104$0$0$999,523
84$1,944,633$0$0$1,053,121
85$2,049,248$0$0$1,110,663
86$2,161,580$0$0$1,172,502
87$2,282,324$0$0$1,239,029
88$2,412,243$0$0$1,310,670
89$2,552,172$0$0$1,387,894
90$2,703,032$0$0$1,471,216
91$2,865,831$0$0$1,561,202
92$3,041,679$0$0$1,658,474
93$3,231,795$0$0$1,763,716
94$3,437,518$0$0$1,877,680
95$3,660,322$0$0$2,001,190
96$3,901,825$0$0$2,135,156
97$4,163,809$0$0$2,280,577
98$4,448,230$0$0$2,438,552
99$4,757,244$0$0$2,610,288
100$5,093,218$0$0$2,797,116