Can I retire at age 63 with 709,000?

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 $709,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.6%
1 years$58,549$58,027$57,518$57,022$56,537$54,793
2 years$28,984$28,445$27,921$27,414$26,922$25,180
3 years$19,131$18,589$18,067$17,565$17,081$15,396
4 years$14,205$13,665$13,148$12,654$12,182$10,567
5 years$11,251$10,713$10,204$9,720$9,261$7,719
6 years$9,281$8,748$8,246$7,773$7,328$5,862
7 years$7,875$7,347$6,852$6,391$5,959$4,569
8 years$6,821$6,298$5,811$5,361$4,944$3,628
9 years$6,002$5,483$5,005$4,566$4,163$2,921
10 years$5,347$4,833$4,364$3,936$3,547$2,376
11 years$4,811$4,303$3,842$3,426$3,051$1,948
12 years$4,365$3,862$3,410$3,005$2,644$1,608
13 years$3,988$3,490$3,046$2,653$2,305$1,334
14 years$3,665$3,172$2,737$2,355$2,021$1,111
15 years$3,386$2,898$2,471$2,100$1,779$929
16 years$3,141$2,659$2,240$1,880$1,573$779
17 years$2,926$2,449$2,039$1,690$1,394$654
18 years$2,734$2,263$1,861$1,523$1,240$551
19 years$2,563$2,097$1,704$1,376$1,105$464
20 years$2,410$1,949$1,564$1,246$987$392
21 years$2,271$1,815$1,438$1,131$883$331
22 years$2,145$1,694$1,326$1,028$792$280
23 years$2,030$1,585$1,224$936$711$237
24 years$1,925$1,485$1,132$854$639$201
25 years$1,828$1,393$1,048$780$575$170
26 years$1,739$1,310$972$713$518$145
27 years$1,657$1,232$903$653$467$123
28 years$1,580$1,161$839$598$421$104
29 years$1,509$1,096$781$548$380$88
30 years$1,443$1,035$728$503$344$75
31 years$1,382$978$678$462$311$64
32 years$1,324$925$633$425$281$54
33 years$1,270$876$591$391$254$46
34 years$1,219$831$552$359$230$39
35 years$1,171$788$516$331$209$33
36 years$1,126$748$483$305$189$28
37 years$1,084$710$452$281$171$24
38 years$1,043$675$423$259$155$20
39 years$1,005$642$397$239$141$17
40 years$969$611$372$220$128$15
41 years$935$581$348$203$116$13
42 years$903$554$327$187$105$11
43 years$872$527$307$173$95$9
44 years$842$503$288$160$87$8
45 years$814$479$270$148$79$7
46 years$788$457$254$136$71$6
47 years$762$436$239$126$65$5
48 years$738$417$224$116$59$4
49 years$715$398$211$108$53$3
50 years$692$380$198$99$49$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $709,000, adding $5,643 every year, while hoping to spend $54,920 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: 71/21/8 Blend
62$709,000$709,000$709,000$709,000
63$787,139$749,562$738,572$841,562
64$808,992$727,856$704,880$856,580
65$831,235$703,246$668,218$865,688
66$853,847$675,531$628,430$874,147
67$876,807$644,500$585,350$881,881
68$900,089$609,928$538,807$888,806
69$923,661$571,578$488,620$894,830
70$947,489$529,199$434,604$899,855
71$971,530$482,527$376,560$903,774
72$995,736$431,281$314,285$906,471
73$1,020,053$375,165$247,565$907,820
74$1,044,416$313,866$176,176$907,684
75$1,068,754$247,053$99,885$905,915
76$1,092,986$174,378$18,450$902,353
77$1,117,018$95,470$0$896,822
78$1,140,748$9,942$0$894,978
79$1,164,056$0$0$892,833
80$1,186,811$0$0$907,701
81$1,208,863$0$0$924,297
82$1,230,046$0$0$940,193
83$1,250,173$0$0$955,241
84$1,269,034$0$0$969,276
85$1,286,397$0$0$982,117
86$1,302,000$0$0$993,557
87$1,315,554$0$0$1,003,369
88$1,326,733$0$0$1,011,298
89$1,335,178$0$0$1,017,063
90$1,340,487$0$0$1,020,347
91$1,342,215$0$0$1,020,803
92$1,339,867$0$0$1,018,040
93$1,332,893$0$0$1,011,629
94$1,320,683$0$0$1,001,091
95$1,302,561$0$0$985,896
96$1,277,775$0$0$965,456
97$1,245,496$0$0$939,120
98$1,204,802$0$0$906,166
99$1,154,674$0$0$865,794
100$1,093,982$0$0$817,122