Can I retire at age 63 with 710,000?

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 $710,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$58,631$58,109$57,599$57,102$56,616$56,165
2 years$29,025$28,485$27,961$27,453$26,960$26,506
3 years$19,158$18,615$18,093$17,589$17,105$16,661
4 years$14,225$13,684$13,167$12,672$12,199$11,769
5 years$11,266$10,728$10,218$9,733$9,274$8,859
6 years$9,295$8,761$8,258$7,784$7,338$6,939
7 years$7,887$7,357$6,862$6,400$5,968$5,584
8 years$6,831$6,306$5,820$5,368$4,951$4,583
9 years$6,011$5,491$5,012$4,573$4,169$3,817
10 years$5,355$4,840$4,370$3,942$3,552$3,216
11 years$4,818$4,309$3,847$3,430$3,055$2,734
12 years$4,372$3,867$3,414$3,009$2,648$2,342
13 years$3,994$3,495$3,050$2,656$2,309$2,017
14 years$3,670$3,177$2,741$2,358$2,024$1,747
15 years$3,390$2,902$2,475$2,103$1,782$1,519
16 years$3,146$2,663$2,244$1,883$1,575$1,325
17 years$2,930$2,452$2,042$1,692$1,396$1,160
18 years$2,738$2,266$1,864$1,525$1,242$1,018
19 years$2,567$2,100$1,706$1,378$1,107$895
20 years$2,413$1,951$1,566$1,248$989$789
21 years$2,274$1,818$1,440$1,132$885$696
22 years$2,148$1,697$1,327$1,030$793$615
23 years$2,033$1,587$1,226$938$712$544
24 years$1,927$1,487$1,133$855$640$482
25 years$1,830$1,395$1,050$781$576$428
26 years$1,741$1,311$974$714$519$380
27 years$1,659$1,234$904$654$468$337
28 years$1,582$1,163$841$599$422$300
29 years$1,511$1,097$782$549$381$267
30 years$1,445$1,036$729$504$344$237
31 years$1,383$979$679$463$311$211
32 years$1,326$927$634$425$281$188
33 years$1,272$878$592$391$255$168
34 years$1,221$832$553$360$231$149
35 years$1,173$789$517$331$209$133
36 years$1,128$749$484$305$189$119
37 years$1,085$711$453$281$172$106
38 years$1,045$676$424$259$156$95
39 years$1,007$643$397$239$141$84
40 years$971$612$372$220$128$75
41 years$936$582$349$203$116$67
42 years$904$554$327$188$105$60
43 years$873$528$307$173$96$54
44 years$844$503$288$160$87$48
45 years$816$480$271$148$79$43
46 years$789$458$254$136$72$38
47 years$763$437$239$126$65$34
48 years$739$417$225$117$59$30
49 years$716$398$211$108$54$27
50 years$693$381$198$100$49$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $710,000, adding $4,390 every year, while hoping to spend $47,238 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: 60/18/22 Blend
62$710,000$710,000$710,000$710,000
63$786,948$749,318$738,313$829,336
64$816,956$735,774$712,786$845,056
65$848,442$719,983$684,820$856,657
66$881,505$701,785$654,284$868,266
67$916,257$681,011$621,041$879,893
68$952,816$657,481$584,947$891,550
69$991,312$631,006$545,851$903,254
70$1,031,885$601,385$503,597$915,024
71$1,074,690$568,405$458,020$926,884
72$1,119,894$531,842$408,949$938,864
73$1,167,680$491,459$356,205$950,999
74$1,218,246$447,004$299,601$963,332
75$1,271,812$398,212$238,942$975,912
76$1,328,615$344,802$174,025$988,797
77$1,388,914$286,478$104,635$1,002,055
78$1,452,994$222,926$30,551$1,015,764
79$1,521,167$153,817$0$1,030,015
80$1,593,772$78,800$0$1,056,299
81$1,671,182$0$0$1,091,743
82$1,753,806$0$0$1,129,857
83$1,842,091$0$0$1,187,294
84$1,936,526$0$0$1,248,768
85$2,037,650$0$0$1,314,634
86$2,146,053$0$0$1,385,280
87$2,262,380$0$0$1,461,134
88$2,387,341$0$0$1,542,664
89$2,521,715$0$0$1,630,384
90$2,666,358$0$0$1,724,857
91$2,822,209$0$0$1,826,704
92$2,990,299$0$0$1,936,606
93$3,171,761$0$0$2,055,310
94$3,367,840$0$0$2,183,639
95$3,579,905$0$0$2,322,496
96$3,809,460$0$0$2,472,875
97$4,058,158$0$0$2,635,867
98$4,327,817$0$0$2,812,673
99$4,620,438$0$0$3,004,614
100$4,938,217$0$0$3,213,142