Can I retire at age 63 with 700,000?

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 $700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$57,805$57,290$56,788$56,298$55,819$55,076
2 years$28,617$28,084$27,567$27,066$26,580$25,833
3 years$18,888$18,353$17,838$17,342$16,864$16,135
4 years$14,025$13,491$12,981$12,494$12,027$11,323
5 years$11,108$10,577$10,074$9,596$9,143$8,465
6 years$9,164$8,637$8,141$7,674$7,235$6,584
7 years$7,776$7,254$6,765$6,309$5,884$5,261
8 years$6,735$6,218$5,738$5,293$4,881$4,286
9 years$5,926$5,414$4,942$4,508$4,111$3,542
10 years$5,279$4,772$4,308$3,886$3,502$2,961
11 years$4,750$4,248$3,793$3,382$3,012$2,497
12 years$4,310$3,813$3,366$2,967$2,610$2,121
13 years$3,938$3,446$3,008$2,619$2,276$1,812
14 years$3,619$3,132$2,702$2,325$1,995$1,556
15 years$3,343$2,861$2,440$2,073$1,757$1,341
16 years$3,101$2,625$2,212$1,857$1,553$1,159
17 years$2,889$2,418$2,013$1,668$1,377$1,006
18 years$2,700$2,234$1,837$1,503$1,224$874
19 years$2,531$2,070$1,682$1,358$1,091$762
20 years$2,379$1,924$1,544$1,230$975$665
21 years$2,242$1,792$1,420$1,117$872$581
22 years$2,117$1,673$1,309$1,015$782$508
23 years$2,004$1,565$1,208$925$702$446
24 years$1,900$1,466$1,118$843$631$391
25 years$1,805$1,376$1,035$770$568$343
26 years$1,717$1,293$960$704$511$301
27 years$1,635$1,217$891$645$461$265
28 years$1,560$1,147$829$591$416$233
29 years$1,490$1,082$771$542$376$205
30 years$1,425$1,021$718$497$339$181
31 years$1,364$966$670$456$307$159
32 years$1,307$914$625$419$278$140
33 years$1,254$865$583$386$251$124
34 years$1,203$820$545$355$227$109
35 years$1,156$778$510$327$206$96
36 years$1,112$738$477$301$187$85
37 years$1,070$701$446$277$169$75
38 years$1,030$666$418$256$153$66
39 years$993$634$391$236$139$58
40 years$957$603$367$217$126$51
41 years$923$574$344$201$114$45
42 years$891$547$323$185$104$40
43 years$861$521$303$171$94$35
44 years$832$496$284$158$86$31
45 years$804$473$267$146$78$28
46 years$778$452$251$135$70$24
47 years$753$431$236$124$64$21
48 years$728$411$221$115$58$19
49 years$705$393$208$106$53$17
50 years$683$375$196$98$48$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $700,000, adding $2,277 every year, while hoping to spend $31,379 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: 46/29/25 Blend
62$700,000$700,000$700,000$700,000
63$773,749$736,649$725,799$803,690
64$819,284$739,358$716,726$827,736
65$868,412$741,147$706,298$850,563
66$921,467$741,940$694,435$874,709
67$978,814$741,653$681,056$900,313
68$1,040,856$740,197$666,075$927,530
69$1,108,036$737,479$649,401$956,533
70$1,180,841$733,400$630,940$987,514
71$1,259,804$727,854$610,595$1,020,686
72$1,345,515$720,730$588,261$1,056,288
73$1,438,621$711,909$563,831$1,094,583
74$1,539,833$701,266$537,192$1,135,866
75$1,649,935$688,667$508,227$1,180,461
76$1,769,788$673,971$476,812$1,228,733
77$1,900,340$657,029$442,818$1,281,081
78$2,042,634$637,683$406,113$1,337,953
79$2,197,819$615,766$366,554$1,399,844
80$2,367,158$591,100$323,995$1,467,302
81$2,552,042$563,498$278,283$1,540,936
82$2,754,003$532,762$229,257$1,621,420
83$2,974,726$498,681$176,752$1,709,503
84$3,216,066$461,035$120,592$1,806,013
85$3,480,068$419,589$60,594$1,911,866
86$3,768,980$374,095$0$2,028,080
87$4,085,282$324,290$0$2,156,695
88$4,431,699$269,899$0$2,315,349
89$4,811,237$210,629$0$2,489,296
90$5,227,205$146,172$0$2,680,118
91$5,683,246$76,200$0$2,889,563
92$6,183,373$370$0$3,119,560
93$6,732,007$0$0$3,372,240
94$7,334,016$0$0$3,676,017
95$7,994,763$0$0$4,009,649
96$8,720,157$0$0$4,376,009
97$9,516,703$0$0$4,778,395
98$10,391,570$0$0$5,220,439
99$11,352,654$0$0$5,706,144
100$12,408,656$0$0$6,239,917