Can I retire at age 63 with 701,000?

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 $701,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$57,888$57,372$56,869$56,378$55,899$54,503
2 years$28,657$28,124$27,606$27,105$26,618$25,221
3 years$18,915$18,379$17,863$17,366$16,888$15,533
4 years$14,045$13,511$13,000$12,511$12,045$10,742
5 years$11,124$10,592$10,088$9,610$9,156$7,910
6 years$9,177$8,650$8,153$7,685$7,245$6,056
7 years$7,787$7,264$6,775$6,318$5,892$4,760
8 years$6,745$6,226$5,746$5,300$4,888$3,813
9 years$5,934$5,421$4,949$4,515$4,116$3,098
10 years$5,287$4,779$4,315$3,892$3,507$2,544
11 years$4,757$4,254$3,798$3,387$3,016$2,106
12 years$4,316$3,818$3,371$2,971$2,614$1,756
13 years$3,943$3,451$3,012$2,623$2,279$1,471
14 years$3,624$3,136$2,706$2,328$1,998$1,239
15 years$3,347$2,865$2,443$2,076$1,759$1,046
16 years$3,106$2,629$2,215$1,859$1,555$887
17 years$2,893$2,421$2,016$1,670$1,379$753
18 years$2,703$2,237$1,840$1,505$1,226$641
19 years$2,534$2,073$1,685$1,360$1,093$547
20 years$2,382$1,927$1,546$1,232$976$467
21 years$2,245$1,795$1,422$1,118$873$399
22 years$2,121$1,675$1,311$1,017$783$342
23 years$2,007$1,567$1,210$926$703$293
24 years$1,903$1,468$1,119$844$632$251
25 years$1,807$1,378$1,037$771$568$215
26 years$1,719$1,295$961$705$512$185
27 years$1,638$1,219$893$645$462$159
28 years$1,562$1,148$830$591$417$136
29 years$1,492$1,083$772$542$376$117
30 years$1,427$1,023$719$498$340$101
31 years$1,366$967$671$457$307$87
32 years$1,309$915$626$420$278$75
33 years$1,255$867$584$386$252$64
34 years$1,205$821$546$355$228$55
35 years$1,158$779$510$327$206$47
36 years$1,113$739$477$301$187$41
37 years$1,071$702$447$278$169$35
38 years$1,032$667$418$256$154$30
39 years$994$635$392$236$139$26
40 years$958$604$367$218$126$22
41 years$925$575$345$201$115$19
42 years$892$547$323$185$104$17
43 years$862$522$303$171$94$14
44 years$833$497$285$158$86$12
45 years$805$474$267$146$78$11
46 years$779$452$251$135$71$9
47 years$754$432$236$124$64$8
48 years$729$412$222$115$58$7
49 years$706$393$208$106$53$6
50 years$684$376$196$98$48$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $701,000, adding $3,863 every year, while hoping to spend $39,305 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: 41/43/16 Blend
62$701,000$701,000$701,000$701,000
63$776,487$739,334$728,468$804,511
64$813,868$733,741$711,052$819,124
65$853,745$726,557$691,734$830,796
66$896,331$717,661$670,411$842,592
67$941,858$706,929$646,972$854,541
68$990,584$694,225$621,302$866,679
69$1,042,789$679,406$593,280$879,050
70$1,098,780$662,324$562,781$891,705
71$1,158,895$642,818$529,674$904,701
72$1,223,505$620,719$493,822$918,108
73$1,293,018$595,849$455,079$932,006
74$1,367,879$568,018$413,298$946,486
75$1,448,579$537,028$368,320$961,654
76$1,535,658$502,667$319,983$977,632
77$1,629,708$464,710$268,115$994,558
78$1,731,379$422,922$212,538$1,012,591
79$1,841,388$377,053$153,066$1,031,909
80$1,960,519$326,838$89,503$1,052,717
81$2,089,638$271,999$21,648$1,075,247
82$2,229,696$212,242$0$1,099,759
83$2,381,737$147,254$0$1,135,217
84$2,546,911$76,707$0$1,177,794
85$2,726,484$253$0$1,224,205
86$2,921,847$0$0$1,274,913
87$3,134,530$0$0$1,369,459
88$3,366,218$0$0$1,472,667
89$3,618,766$0$0$1,585,253
90$3,894,213$0$0$1,708,137
91$4,194,806$0$0$1,842,333
92$4,523,015$0$0$1,988,957
93$4,881,562$0$0$2,149,235
94$5,273,443$0$0$2,324,519
95$5,701,956$0$0$2,516,299
96$6,170,731$0$0$2,726,212
97$6,683,768$0$0$2,956,064
98$7,245,468$0$0$3,207,842
99$7,860,681$0$0$3,483,734
100$8,534,745$0$0$3,786,152