Can I retire at age 63 with 702,000?

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 $702,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$57,971$57,454$56,950$56,459$55,978$55,210
2 years$28,698$28,164$27,646$27,144$26,656$25,884
3 years$18,942$18,405$17,889$17,391$16,912$16,159
4 years$14,065$13,530$13,018$12,529$12,062$11,334
5 years$11,140$10,608$10,103$9,624$9,169$8,469
6 years$9,190$8,662$8,165$7,696$7,255$6,584
7 years$7,798$7,274$6,785$6,327$5,900$5,257
8 years$6,754$6,235$5,754$5,308$4,895$4,281
9 years$5,943$5,429$4,956$4,521$4,122$3,536
10 years$5,294$4,785$4,321$3,897$3,512$2,954
11 years$4,764$4,260$3,804$3,392$3,021$2,490
12 years$4,322$3,824$3,376$2,975$2,618$2,113
13 years$3,949$3,456$3,016$2,627$2,283$1,804
14 years$3,629$3,141$2,710$2,332$2,001$1,548
15 years$3,352$2,869$2,447$2,079$1,762$1,333
16 years$3,110$2,633$2,218$1,862$1,557$1,152
17 years$2,897$2,424$2,019$1,673$1,381$998
18 years$2,707$2,240$1,843$1,508$1,228$867
19 years$2,538$2,076$1,687$1,362$1,094$755
20 years$2,386$1,929$1,548$1,234$977$659
21 years$2,248$1,797$1,424$1,120$875$575
22 years$2,124$1,678$1,312$1,018$784$503
23 years$2,010$1,569$1,212$927$704$440
24 years$1,906$1,470$1,121$846$633$386
25 years$1,810$1,380$1,038$772$569$339
26 years$1,722$1,297$963$706$513$297
27 years$1,640$1,220$894$646$462$261
28 years$1,565$1,150$831$592$417$230
29 years$1,494$1,085$773$543$377$202
30 years$1,429$1,024$720$498$340$178
31 years$1,368$968$672$458$308$156
32 years$1,311$916$627$421$278$138
33 years$1,257$868$585$387$252$121
34 years$1,207$822$547$356$228$107
35 years$1,160$780$511$328$207$94
36 years$1,115$740$478$302$187$83
37 years$1,073$703$447$278$170$73
38 years$1,033$668$419$256$154$64
39 years$995$635$393$236$139$57
40 years$960$605$368$218$126$50
41 years$926$576$345$201$115$44
42 years$894$548$324$186$104$39
43 years$863$522$304$171$94$34
44 years$834$498$285$158$86$30
45 years$806$475$268$146$78$27
46 years$780$453$251$135$71$24
47 years$755$432$236$125$64$21
48 years$731$413$222$115$58$18
49 years$707$394$209$106$53$16
50 years$685$376$196$98$48$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $702,000, adding $2,200 every year, while hoping to spend $21,108 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: 40/42/18 Blend
62$702,000$702,000$702,000$702,000
63$775,873$738,667$727,786$802,684
64$832,554$752,403$729,708$835,745
65$894,308$766,105$730,987$869,289
66$961,631$779,748$731,580$905,135
67$1,035,069$793,307$731,439$943,505
68$1,115,221$806,754$730,517$984,641
69$1,202,748$820,059$728,763$1,028,812
70$1,298,376$833,190$726,125$1,076,315
71$1,402,906$846,112$722,546$1,127,477
72$1,517,219$858,788$717,968$1,182,659
73$1,642,286$871,179$712,330$1,242,260
74$1,779,174$883,241$705,568$1,306,719
75$1,929,059$894,930$697,614$1,376,525
76$2,093,239$906,197$688,400$1,452,211
77$2,273,138$916,989$677,850$1,534,372
78$2,470,328$927,252$665,888$1,623,661
79$2,686,539$936,925$652,433$1,720,799
80$2,923,677$945,946$637,400$1,826,584
81$3,183,841$954,246$620,703$1,941,893
82$3,469,344$961,755$602,247$2,067,699
83$3,782,731$968,395$581,937$2,205,070
84$4,126,809$974,086$559,670$2,355,191
85$4,504,667$978,740$535,343$2,519,364
86$4,919,710$982,265$508,844$2,699,030
87$5,375,687$984,563$480,057$2,895,776
88$5,876,731$985,529$448,862$3,111,356
89$6,427,391$985,054$415,133$3,347,704
90$7,032,683$983,020$378,738$3,606,953
91$7,698,130$979,302$339,539$3,891,459
92$8,429,819$973,766$297,393$4,203,818
93$9,234,453$966,274$252,149$4,546,897
94$10,119,422$956,676$203,650$4,923,857
95$11,092,863$944,813$151,732$5,338,186
96$12,163,745$930,519$96,225$5,793,732
97$13,341,949$913,616$36,950$6,294,739
98$14,638,360$893,915$0$6,845,887
99$16,064,975$871,219$0$7,457,395
100$17,635,009$845,316$0$8,137,805