Can I retire at age 63 with 720,000?

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 $720,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$59,457$58,927$58,411$57,906$57,414$56,393
2 years$29,434$28,886$28,355$27,840$27,340$26,315
3 years$19,428$18,877$18,347$17,837$17,346$16,348
4 years$14,426$13,877$13,352$12,851$12,371$11,409
5 years$11,425$10,880$10,362$9,870$9,404$8,481
6 years$9,425$8,884$8,374$7,894$7,441$6,557
7 years$7,998$7,461$6,959$6,490$6,052$5,207
8 years$6,927$6,395$5,902$5,444$5,020$4,215
9 years$6,095$5,568$5,083$4,637$4,228$3,461
10 years$5,430$4,908$4,431$3,997$3,602$2,874
11 years$4,886$4,369$3,901$3,479$3,098$2,407
12 years$4,433$3,922$3,462$3,051$2,685$2,030
13 years$4,050$3,544$3,093$2,694$2,341$1,722
14 years$3,722$3,221$2,779$2,391$2,052$1,467
15 years$3,438$2,943$2,509$2,133$1,807$1,255
16 years$3,190$2,700$2,275$1,910$1,597$1,077
17 years$2,971$2,487$2,070$1,716$1,416$927
18 years$2,777$2,298$1,890$1,546$1,259$799
19 years$2,603$2,130$1,730$1,397$1,122$691
20 years$2,447$1,979$1,588$1,265$1,002$598
21 years$2,306$1,843$1,461$1,148$897$518
22 years$2,178$1,721$1,346$1,044$804$450
23 years$2,061$1,609$1,243$951$722$391
24 years$1,954$1,508$1,149$867$649$340
25 years$1,856$1,415$1,065$792$584$296
26 years$1,766$1,330$987$724$526$258
27 years$1,682$1,252$917$663$474$225
28 years$1,605$1,179$852$607$428$196
29 years$1,533$1,113$793$557$386$171
30 years$1,466$1,051$739$511$349$149
31 years$1,403$993$689$469$316$130
32 years$1,344$940$643$431$285$114
33 years$1,289$890$600$397$258$99
34 years$1,238$844$561$365$234$87
35 years$1,189$800$524$336$212$76
36 years$1,144$759$490$309$192$66
37 years$1,100$721$459$285$174$58
38 years$1,060$685$430$263$158$51
39 years$1,021$652$403$242$143$44
40 years$984$620$377$224$130$39
41 years$950$590$354$206$118$34
42 years$917$562$332$190$107$30
43 years$885$536$312$176$97$26
44 years$855$511$292$162$88$23
45 years$827$487$275$150$80$20
46 years$800$464$258$138$73$17
47 years$774$443$242$128$66$15
48 years$749$423$228$118$60$13
49 years$726$404$214$109$54$12
50 years$703$386$201$101$49$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $720,000, adding $6,072 every year, while hoping to spend $41,570 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: 31/46/23 Blend
62$720,000$720,000$720,000$720,000
63$799,703$761,543$750,383$818,652
64$837,043$754,629$731,291$826,657
65$876,798$745,982$710,166$831,130
66$919,171$735,475$686,896$835,093
67$964,383$722,970$661,364$838,527
68$1,012,678$708,323$633,447$841,417
69$1,064,322$691,382$603,019$843,749
70$1,119,607$671,983$569,944$845,513
71$1,178,852$649,956$534,082$846,703
72$1,242,409$625,118$495,288$847,316
73$1,310,664$597,278$453,409$847,355
74$1,384,039$566,232$408,286$846,828
75$1,462,998$531,764$359,750$845,750
76$1,548,051$493,648$307,629$844,145
77$1,639,758$451,643$251,741$842,045
78$1,738,734$405,494$191,895$839,492
79$1,845,655$354,934$127,894$836,541
80$1,961,264$299,677$59,530$833,258
81$2,086,376$239,424$0$829,727
82$2,221,889$173,859$0$829,344
83$2,368,789$102,646$0$844,736
84$2,528,162$25,432$0$861,481
85$2,701,200$0$0$879,804
86$2,889,216$0$0$929,401
87$3,093,652$0$0$997,426
88$3,316,098$0$0$1,071,546
89$3,558,301$0$0$1,152,356
90$3,822,183$0$0$1,240,512
91$4,109,861$0$0$1,336,734
92$4,423,662$0$0$1,441,816
93$4,766,152$0$0$1,556,631
94$5,140,150$0$0$1,682,141
95$5,548,764$0$0$1,819,406
96$5,995,412$0$0$1,969,591
97$6,483,860$0$0$2,133,980
98$7,018,252$0$0$2,313,986
99$7,603,153$0$0$2,511,167
100$8,243,588$0$0$2,727,237