Can I retire at age 63 with 697,000?

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 $697,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$57,558$57,045$56,545$56,056$55,580$55,114
2 years$28,494$27,963$27,449$26,950$26,467$25,997
3 years$18,807$18,274$17,761$17,267$16,791$16,333
4 years$13,965$13,434$12,926$12,440$11,976$11,532
5 years$11,060$10,532$10,031$9,555$9,104$8,675
6 years$9,124$8,600$8,106$7,641$7,204$6,791
7 years$7,742$7,222$6,736$6,282$5,858$5,463
8 years$6,706$6,191$5,713$5,270$4,860$4,481
9 years$5,901$5,390$4,921$4,489$4,093$3,730
10 years$5,257$4,751$4,290$3,870$3,487$3,141
11 years$4,730$4,230$3,777$3,368$2,999$2,668
12 years$4,291$3,796$3,352$2,954$2,599$2,284
13 years$3,921$3,431$2,995$2,608$2,266$1,966
14 years$3,603$3,119$2,691$2,315$1,987$1,701
15 years$3,328$2,849$2,429$2,065$1,749$1,478
16 years$3,088$2,614$2,203$1,849$1,546$1,289
17 years$2,876$2,407$2,004$1,661$1,371$1,127
18 years$2,688$2,224$1,830$1,497$1,219$989
19 years$2,520$2,062$1,675$1,353$1,086$869
20 years$2,369$1,916$1,537$1,225$970$765
21 years$2,232$1,784$1,414$1,112$868$675
22 years$2,108$1,666$1,303$1,011$778$596
23 years$1,995$1,558$1,203$921$699$527
24 years$1,892$1,460$1,113$840$628$466
25 years$1,797$1,370$1,031$767$565$413
26 years$1,709$1,287$956$701$509$367
27 years$1,628$1,212$888$642$459$325
28 years$1,553$1,142$825$588$414$289
29 years$1,484$1,077$768$539$374$257
30 years$1,419$1,017$715$495$338$228
31 years$1,358$962$667$454$305$203
32 years$1,301$910$622$418$276$181
33 years$1,248$862$581$384$250$161
34 years$1,198$817$543$353$226$143
35 years$1,151$775$507$325$205$128
36 years$1,107$735$475$300$186$114
37 years$1,065$698$444$276$168$101
38 years$1,026$664$416$254$153$90
39 years$988$631$390$235$138$81
40 years$953$600$365$216$126$72
41 years$919$571$343$200$114$64
42 years$887$544$321$184$103$57
43 years$857$519$302$170$94$51
44 years$828$494$283$157$85$45
45 years$801$471$266$145$77$41
46 years$774$450$250$134$70$36
47 years$749$429$235$124$64$32
48 years$725$410$220$114$58$29
49 years$702$391$207$106$53$26
50 years$681$374$195$98$48$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $697,000, adding $5,637 every year, while hoping to spend $33,141 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: 64/26/10 Blend
62$697,000$697,000$697,000$697,000
63$773,909$736,968$726,164$821,399
64$817,585$737,817$715,229$854,647
65$864,607$737,598$702,816$886,558
66$915,278$736,222$688,843$920,569
67$969,937$733,597$673,219$956,884
68$1,028,951$729,624$655,852$995,727
69$1,092,727$724,199$636,647$1,037,345
70$1,161,712$717,211$615,501$1,082,012
71$1,236,395$708,543$592,309$1,130,033
72$1,317,316$698,069$566,959$1,181,740
73$1,405,067$685,660$539,337$1,237,506
74$1,500,300$671,174$509,322$1,297,738
75$1,603,733$654,463$476,786$1,362,890
76$1,716,153$635,371$441,598$1,433,461
77$1,838,428$613,732$403,619$1,510,004
78$1,971,514$589,371$362,706$1,593,129
79$2,116,459$562,101$318,707$1,683,511
80$2,274,420$531,726$271,466$1,781,895
81$2,446,669$498,038$220,818$1,889,104
82$2,634,605$460,818$166,592$2,006,049
83$2,839,769$419,833$108,607$2,133,735
84$3,063,858$374,837$46,678$2,273,270
85$3,308,739$325,571$0$2,425,883
86$3,576,467$271,761$0$2,594,997
87$3,869,306$213,117$0$2,785,488
88$4,189,747$149,332$0$2,994,042
89$4,540,536$80,083$0$3,222,508
90$4,924,693$5,029$0$3,472,923
91$5,345,546$0$0$3,747,536
92$5,806,760$0$0$4,070,626
93$6,312,371$0$0$4,426,443
94$6,866,824$0$0$4,816,683
95$7,475,014$0$0$5,244,797
96$8,142,335$0$0$5,714,589
97$8,874,726$0$0$6,230,247
98$9,678,730$0$0$6,796,384
99$10,561,554$0$0$7,418,082
100$11,531,138$0$0$8,100,941