Can I retire at age 63 with 698,000?

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 $698,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$57,640$57,127$56,626$56,137$55,660$55,378
2 years$28,535$28,003$27,488$26,989$26,505$26,221
3 years$18,834$18,300$17,787$17,292$16,816$16,538
4 years$13,985$13,453$12,944$12,458$11,993$11,724
5 years$11,076$10,547$10,045$9,569$9,117$8,857
6 years$9,137$8,613$8,118$7,652$7,214$6,963
7 years$7,753$7,233$6,746$6,291$5,867$5,626
8 years$6,716$6,200$5,721$5,278$4,867$4,636
9 years$5,909$5,398$4,928$4,495$4,099$3,877
10 years$5,264$4,758$4,296$3,875$3,492$3,280
11 years$4,737$4,236$3,782$3,373$3,004$2,800
12 years$4,298$3,802$3,357$2,958$2,603$2,409
13 years$3,926$3,436$2,999$2,612$2,270$2,085
14 years$3,608$3,123$2,695$2,318$1,990$1,813
15 years$3,333$2,853$2,433$2,067$1,752$1,584
16 years$3,092$2,618$2,206$1,851$1,548$1,389
17 years$2,880$2,411$2,007$1,663$1,373$1,221
18 years$2,692$2,228$1,832$1,499$1,221$1,077
19 years$2,524$2,064$1,677$1,354$1,088$952
20 years$2,372$1,918$1,539$1,227$972$843
21 years$2,236$1,787$1,416$1,113$870$748
22 years$2,111$1,668$1,305$1,012$780$664
23 years$1,998$1,560$1,205$922$700$591
24 years$1,895$1,462$1,114$841$629$527
25 years$1,800$1,372$1,032$768$566$469
26 years$1,712$1,289$957$702$510$419
27 years$1,631$1,213$889$643$460$374
28 years$1,556$1,143$826$589$415$335
29 years$1,486$1,079$769$540$374$299
30 years$1,421$1,019$716$496$338$268
31 years$1,360$963$668$455$306$240
32 years$1,303$911$623$418$277$215
33 years$1,250$863$582$385$250$192
34 years$1,200$818$544$354$227$173
35 years$1,153$776$508$326$205$155
36 years$1,109$736$475$300$186$139
37 years$1,067$699$445$276$169$125
38 years$1,027$664$417$255$153$112
39 years$990$632$390$235$139$100
40 years$954$601$366$217$126$90
41 years$921$572$343$200$114$81
42 years$889$545$322$185$104$73
43 years$858$519$302$170$94$65
44 years$829$495$283$157$85$59
45 years$802$472$266$145$77$53
46 years$775$450$250$134$70$47
47 years$750$430$235$124$64$43
48 years$726$410$221$115$58$38
49 years$703$392$207$106$53$34
50 years$681$374$195$98$48$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $698,000, adding $4,352 every year, while hoping to spend $22,707 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: 43/44/13 Blend
62$698,000$698,000$698,000$698,000
63$773,685$736,691$725,872$803,857
64$828,441$748,629$726,029$837,334
65$888,021$760,391$725,430$870,967
66$952,893$771,944$724,025$906,906
67$1,023,572$783,253$721,764$945,371
68$1,100,625$794,281$718,592$986,606
69$1,184,676$804,988$714,452$1,030,880
70$1,276,412$815,331$709,285$1,078,491
71$1,376,588$825,265$703,028$1,129,769
72$1,486,036$834,739$695,616$1,185,075
73$1,605,673$843,702$686,980$1,244,811
74$1,736,506$852,098$677,049$1,309,419
75$1,879,647$859,868$665,747$1,379,388
76$2,036,318$866,949$652,996$1,455,257
77$2,207,865$873,272$638,714$1,537,623
78$2,395,770$878,765$622,815$1,627,143
79$2,601,668$883,354$605,208$1,724,544
80$2,827,355$886,955$585,799$1,830,627
81$3,074,812$889,482$564,490$1,946,278
82$3,346,220$890,845$541,178$2,072,474
83$3,643,982$890,943$515,755$2,210,294
84$3,970,744$889,675$488,108$2,360,929
85$4,329,420$886,930$458,120$2,525,694
86$4,723,221$882,590$425,668$2,706,040
87$5,155,685$876,532$390,623$2,903,567
88$5,630,707$868,624$352,851$3,120,045
89$6,152,579$858,726$312,211$3,357,422
90$6,726,029$846,691$268,558$3,617,853
91$7,356,267$832,362$221,737$3,903,712
92$8,049,031$815,573$171,590$4,217,621
93$8,810,643$796,147$117,950$4,562,472
94$9,648,069$773,898$60,641$4,941,456
95$10,568,983$748,630$0$5,358,095
96$11,581,839$720,133$0$5,816,345
97$12,695,953$688,186$0$6,329,402
98$13,921,590$652,556$0$6,893,600
99$15,270,056$612,996$0$7,514,184
100$16,753,813$569,244$0$8,196,937