Can I retire at age 63 with 711,000?

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 $711,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$58,714$58,191$57,680$57,182$56,696$56,292
2 years$29,066$28,525$28,000$27,492$26,998$26,590
3 years$19,185$18,641$18,118$17,614$17,129$16,730
4 years$14,245$13,703$13,185$12,690$12,216$11,830
5 years$11,282$10,744$10,232$9,747$9,287$8,914
6 years$9,308$8,773$8,269$7,795$7,348$6,989
7 years$7,898$7,368$6,872$6,409$5,976$5,631
8 years$6,841$6,315$5,828$5,376$4,958$4,627
9 years$6,019$5,499$5,019$4,579$4,175$3,858
10 years$5,362$4,847$4,376$3,947$3,557$3,255
11 years$4,825$4,315$3,853$3,435$3,060$2,770
12 years$4,378$3,873$3,419$3,013$2,651$2,375
13 years$3,999$3,500$3,055$2,660$2,312$2,049
14 years$3,676$3,181$2,745$2,361$2,027$1,777
15 years$3,395$2,906$2,478$2,106$1,784$1,547
16 years$3,150$2,666$2,247$1,886$1,577$1,352
17 years$2,934$2,456$2,044$1,694$1,398$1,185
18 years$2,742$2,269$1,866$1,527$1,243$1,041
19 years$2,571$2,103$1,709$1,380$1,108$917
20 years$2,416$1,954$1,568$1,250$990$809
21 years$2,277$1,820$1,442$1,134$886$715
22 years$2,151$1,699$1,329$1,031$794$633
23 years$2,035$1,589$1,227$939$713$561
24 years$1,930$1,489$1,135$856$641$498
25 years$1,833$1,397$1,051$782$576$442
26 years$1,744$1,313$975$715$519$393
27 years$1,661$1,236$905$655$468$350
28 years$1,585$1,165$842$600$422$311
29 years$1,514$1,099$783$550$381$277
30 years$1,447$1,038$730$505$345$247
31 years$1,385$981$680$464$312$220
32 years$1,328$928$635$426$282$197
33 years$1,273$879$593$392$255$176
34 years$1,222$833$554$360$231$157
35 years$1,174$790$518$332$209$140
36 years$1,129$750$484$306$190$125
37 years$1,087$712$453$282$172$112
38 years$1,046$677$424$260$156$100
39 years$1,008$644$398$239$141$89
40 years$972$612$373$221$128$80
41 years$938$583$349$204$116$71
42 years$905$555$328$188$105$64
43 years$874$529$308$173$96$57
44 years$845$504$289$160$87$51
45 years$817$481$271$148$79$46
46 years$790$459$255$137$72$41
47 years$764$438$239$126$65$37
48 years$740$418$225$117$59$33
49 years$717$399$211$108$54$29
50 years$694$381$199$100$49$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $711,000, adding $4,384 every year, while hoping to spend $28,805 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: 48/42/10 Blend
62$711,000$711,000$711,000$711,000
63$788,044$750,361$739,341$823,519
64$837,776$756,480$733,460$854,477
65$891,616$761,934$726,417$884,702
66$949,951$766,660$718,143$916,858
67$1,013,209$770,589$708,564$951,135
68$1,081,860$773,652$697,604$987,743
69$1,156,421$775,771$685,185$1,026,912
70$1,237,459$776,868$671,222$1,068,900
71$1,325,600$776,855$655,629$1,113,991
72$1,421,533$775,641$638,313$1,162,499
73$1,526,013$773,132$619,180$1,214,772
74$1,639,874$769,223$598,130$1,271,195
75$1,764,032$763,805$575,059$1,332,194
76$1,899,496$756,765$549,856$1,398,242
77$2,047,377$747,979$522,409$1,469,859
78$2,208,897$737,317$492,597$1,547,624
79$2,385,402$724,643$460,296$1,632,174
80$2,578,373$709,811$425,376$1,724,216
81$2,789,441$692,665$387,700$1,824,531
82$3,020,402$673,045$347,127$1,933,982
83$3,273,235$650,775$303,507$2,053,523
84$3,550,115$625,674$256,685$2,184,211
85$3,853,443$597,548$206,500$2,327,212
86$4,185,858$566,192$152,782$2,483,814
87$4,550,270$531,389$95,354$2,655,444
88$4,949,882$492,911$34,033$2,843,676
89$5,388,221$450,516$0$3,050,250
90$5,869,175$403,947$0$3,280,439
91$6,397,024$352,933$0$3,537,108
92$6,976,483$297,189$0$3,818,992
93$7,612,747$236,414$0$4,128,703
94$8,311,536$170,287$0$4,469,128
95$9,079,153$98,472$0$4,843,452
96$9,922,543$20,613$0$5,255,191
97$10,849,354$0$0$5,708,226
98$11,868,012$0$0$6,236,264
99$12,987,803$0$0$6,827,283
100$14,218,954$0$0$7,477,166