Can I retire at age 63 with 705,000?

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 $705,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$58,218$57,700$57,194$56,700$56,218$55,793
2 years$28,821$28,284$27,764$27,260$26,770$26,342
3 years$19,023$18,484$17,965$17,465$16,984$16,566
4 years$14,125$13,588$13,074$12,583$12,113$11,708
5 years$11,187$10,653$10,146$9,665$9,208$8,817
6 years$9,229$8,699$8,199$7,729$7,286$6,910
7 years$7,831$7,305$6,814$6,354$5,926$5,564
8 years$6,783$6,262$5,779$5,331$4,916$4,569
9 years$5,968$5,452$4,977$4,541$4,140$3,808
10 years$5,317$4,806$4,339$3,914$3,527$3,210
11 years$4,784$4,278$3,820$3,406$3,034$2,731
12 years$4,341$3,840$3,390$2,988$2,629$2,340
13 years$3,966$3,470$3,029$2,638$2,292$2,017
14 years$3,645$3,154$2,722$2,342$2,010$1,748
15 years$3,366$2,882$2,457$2,088$1,769$1,521
16 years$3,123$2,644$2,228$1,870$1,564$1,328
17 years$2,909$2,435$2,027$1,680$1,387$1,163
18 years$2,719$2,250$1,851$1,514$1,233$1,021
19 years$2,549$2,085$1,694$1,368$1,099$899
20 years$2,396$1,938$1,555$1,239$982$792
21 years$2,258$1,805$1,430$1,124$878$700
22 years$2,133$1,685$1,318$1,022$787$619
23 years$2,018$1,576$1,217$931$707$548
24 years$1,914$1,476$1,126$849$635$486
25 years$1,818$1,385$1,042$776$572$432
26 years$1,729$1,302$967$709$515$383
27 years$1,647$1,225$898$649$464$341
28 years$1,571$1,155$835$595$419$303
29 years$1,501$1,089$777$545$378$270
30 years$1,435$1,029$723$501$342$240
31 years$1,374$973$674$460$309$214
32 years$1,316$920$629$422$279$191
33 years$1,263$871$588$388$253$170
34 years$1,212$826$549$357$229$152
35 years$1,164$783$513$329$207$135
36 years$1,120$744$480$303$188$121
37 years$1,077$706$449$279$170$108
38 years$1,037$671$421$257$154$96
39 years$1,000$638$394$237$140$86
40 years$964$607$370$219$127$77
41 years$930$578$347$202$115$69
42 years$898$550$325$186$105$61
43 years$867$524$305$172$95$55
44 years$838$500$286$159$86$49
45 years$810$477$269$147$78$44
46 years$783$455$253$136$71$39
47 years$758$434$237$125$64$35
48 years$734$414$223$116$59$31
49 years$710$396$210$107$53$28
50 years$688$378$197$99$48$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $705,000, adding $5,543 every year, while hoping to spend $47,577 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: 55/35/10 Blend
62$705,000$705,000$705,000$705,000
63$782,628$745,263$734,335$823,429
64$811,834$731,159$708,314$837,579
65$842,425$714,770$679,826$847,281
66$874,491$695,932$648,739$856,714
67$908,132$674,475$614,915$865,860
68$943,454$650,217$578,207$874,702
69$980,573$622,965$538,464$883,225
70$1,019,617$592,515$495,527$891,415
71$1,060,722$558,653$449,232$899,259
72$1,104,039$521,150$399,404$906,746
73$1,149,731$479,766$345,864$913,869
74$1,197,975$434,246$288,422$920,622
75$1,248,965$384,322$226,881$927,004
76$1,302,914$329,708$161,036$933,017
77$1,360,052$270,104$90,672$938,670
78$1,420,632$205,194$15,564$943,976
79$1,484,929$134,641$0$948,955
80$1,553,245$58,092$0$960,526
81$1,625,911$0$0$974,055
82$1,703,287$0$0$997,515
83$1,785,768$0$0$1,046,409
84$1,873,788$0$0$1,098,626
85$1,967,822$0$0$1,154,452
86$2,068,388$0$0$1,214,200
87$2,176,057$0$0$1,278,215
88$2,291,454$0$0$1,346,876
89$2,415,264$0$0$1,420,595
90$2,548,242$0$0$1,499,829
91$2,691,211$0$0$1,585,076
92$2,845,079$0$0$1,676,884
93$3,010,842$0$0$1,775,857
94$3,189,593$0$0$1,882,654
95$3,382,534$0$0$1,998,002
96$3,590,984$0$0$2,122,701
97$3,816,393$0$0$2,257,627
98$4,060,358$0$0$2,403,746
99$4,324,629$0$0$2,562,118
100$4,611,134$0$0$2,733,909