Can I retire at age 63 with 708,000?

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 $708,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.1%
1 years$58,466$57,945$57,437$56,941$56,457$54,389
2 years$28,944$28,405$27,882$27,376$26,884$24,824
3 years$19,104$18,563$18,042$17,540$17,056$15,068
4 years$14,185$13,646$13,130$12,636$12,165$10,264
5 years$11,235$10,698$10,189$9,706$9,248$7,439
6 years$9,268$8,736$8,234$7,762$7,317$5,603
7 years$7,864$7,336$6,843$6,382$5,951$4,330
8 years$6,812$6,289$5,803$5,353$4,937$3,408
9 years$5,994$5,475$4,998$4,560$4,158$2,718
10 years$5,339$4,826$4,358$3,931$3,542$2,190
11 years$4,805$4,297$3,836$3,421$3,047$1,779
12 years$4,359$3,856$3,405$3,001$2,640$1,454
13 years$3,983$3,485$3,042$2,649$2,302$1,194
14 years$3,660$3,168$2,733$2,351$2,018$984
15 years$3,381$2,894$2,468$2,097$1,777$814
16 years$3,137$2,655$2,237$1,878$1,570$675
17 years$2,922$2,445$2,036$1,687$1,392$561
18 years$2,730$2,259$1,858$1,520$1,238$467
19 years$2,560$2,094$1,701$1,374$1,104$389
20 years$2,406$1,946$1,561$1,244$986$325
21 years$2,268$1,813$1,436$1,129$882$271
22 years$2,142$1,692$1,324$1,027$791$227
23 years$2,027$1,582$1,222$935$710$190
24 years$1,922$1,483$1,130$853$638$159
25 years$1,825$1,391$1,047$779$574$133
26 years$1,736$1,308$971$712$517$112
27 years$1,654$1,231$902$652$466$94
28 years$1,578$1,160$838$597$421$78
29 years$1,507$1,094$780$548$380$66
30 years$1,441$1,033$727$503$343$55
31 years$1,380$977$677$462$310$46
32 years$1,322$924$632$424$281$39
33 years$1,268$875$590$390$254$33
34 years$1,217$829$551$359$230$27
35 years$1,169$787$515$330$208$23
36 years$1,124$747$482$304$189$19
37 years$1,082$709$451$280$171$16
38 years$1,042$674$423$258$155$14
39 years$1,004$641$396$238$141$11
40 years$968$610$371$220$128$10
41 years$934$580$348$203$116$8
42 years$901$553$326$187$105$7
43 years$871$527$306$173$95$6
44 years$841$502$288$160$87$5
45 years$813$479$270$147$79$4
46 years$787$457$254$136$71$3
47 years$761$436$238$126$65$3
48 years$737$416$224$116$59$2
49 years$714$397$210$107$53$2
50 years$691$380$198$99$49$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $708,000, adding $3,325 every year, while hoping to spend $48,523 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: 74/7/19 Blend
62$708,000$708,000$708,000$708,000
63$783,646$746,122$735,148$837,900
64$811,950$731,054$708,147$859,268
65$841,514$713,621$678,616$876,437
66$872,417$693,656$646,417$893,991
67$904,741$670,983$611,410$911,960
68$938,577$645,414$573,445$930,372
69$974,024$616,751$532,367$949,264
70$1,011,187$584,785$488,014$968,676
71$1,050,182$549,293$440,217$988,650
72$1,091,134$510,042$388,797$1,009,239
73$1,134,178$466,783$333,571$1,030,497
74$1,179,464$419,254$274,345$1,052,490
75$1,227,150$367,179$210,917$1,075,288
76$1,277,414$310,265$143,076$1,098,971
77$1,330,444$248,202$70,604$1,123,629
78$1,386,450$180,665$0$1,149,363
79$1,445,658$107,307$0$1,177,652
80$1,508,315$27,766$0$1,222,620
81$1,574,693$0$0$1,270,129
82$1,645,085$0$0$1,324,886
83$1,719,816$0$0$1,385,302
84$1,799,237$0$0$1,449,528
85$1,883,735$0$0$1,517,877
86$1,973,733$0$0$1,590,693
87$2,069,693$0$0$1,668,353
88$2,172,123$0$0$1,751,269
89$2,281,576$0$0$1,839,895
90$2,398,663$0$0$1,934,725
91$2,524,050$0$0$2,036,303
92$2,658,469$0$0$2,145,226
93$2,802,724$0$0$2,262,148
94$2,957,694$0$0$2,387,786
95$3,124,349$0$0$2,522,928
96$3,303,748$0$0$2,668,440
97$3,497,059$0$0$2,825,271
98$3,705,562$0$0$2,994,466
99$3,930,663$0$0$3,177,171
100$4,173,910$0$0$3,374,645