Can I retire at age 63 with 742,000?

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 $742,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.3%
1 years$61,274$60,728$60,195$59,676$59,168$57,183
2 years$30,333$29,769$29,221$28,690$28,175$26,195
3 years$20,021$19,454$18,908$18,382$17,876$15,962
4 years$14,866$14,301$13,760$13,243$12,749$10,917
5 years$11,774$11,212$10,678$10,172$9,692$7,946
6 years$9,713$9,155$8,630$8,135$7,669$6,011
7 years$8,242$7,689$7,171$6,688$6,237$4,666
8 years$7,139$6,591$6,082$5,610$5,174$3,690
9 years$6,281$5,738$5,238$4,779$4,357$2,958
10 years$5,596$5,058$4,567$4,119$3,713$2,395
11 years$5,035$4,503$4,021$3,585$3,193$1,956
12 years$4,569$4,042$3,568$3,145$2,767$1,607
13 years$4,174$3,652$3,188$2,776$2,413$1,327
14 years$3,836$3,320$2,864$2,464$2,115$1,100
15 years$3,543$3,033$2,586$2,198$1,862$915
16 years$3,287$2,783$2,345$1,968$1,646$763
17 years$3,062$2,563$2,134$1,768$1,459$638
18 years$2,862$2,368$1,948$1,593$1,298$534
19 years$2,683$2,195$1,783$1,440$1,157$448
20 years$2,522$2,039$1,636$1,304$1,033$376
21 years$2,376$1,900$1,505$1,184$924$316
22 years$2,245$1,773$1,387$1,076$829$266
23 years$2,124$1,658$1,281$980$744$224
24 years$2,014$1,554$1,185$894$669$189
25 years$1,913$1,458$1,097$816$602$159
26 years$1,820$1,370$1,018$746$542$134
27 years$1,734$1,290$945$683$489$113
28 years$1,654$1,215$878$626$441$96
29 years$1,580$1,147$817$574$398$81
30 years$1,510$1,083$761$527$360$68
31 years$1,446$1,024$710$484$325$57
32 years$1,385$969$662$445$294$49
33 years$1,329$917$618$409$266$41
34 years$1,276$869$578$376$241$35
35 years$1,226$825$540$346$218$29
36 years$1,178$783$505$319$198$25
37 years$1,134$743$473$294$179$21
38 years$1,092$706$443$271$163$18
39 years$1,052$672$415$250$147$15
40 years$1,014$639$389$230$134$13
41 years$979$608$365$213$121$11
42 years$945$579$342$196$110$9
43 years$912$552$321$181$100$8
44 years$882$526$301$167$91$6
45 years$852$502$283$154$82$5
46 years$824$479$266$143$75$5
47 years$798$457$250$132$68$4
48 years$772$436$235$122$62$3
49 years$748$416$221$113$56$3
50 years$724$398$207$104$51$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $742,000, adding $4,418 every year, while hoping to spend $20,569 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: 62/20/18 Blend
62$742,000$742,000$742,000$742,000
63$822,241$782,915$771,414$869,189
64$884,225$799,393$775,371$917,823
65$951,841$815,988$778,772$968,190
66$1,025,643$832,686$781,575$1,022,695
67$1,106,239$849,468$783,738$1,081,743
68$1,194,300$866,317$785,218$1,145,780
69$1,290,562$883,210$785,966$1,215,295
70$1,395,838$900,126$785,935$1,290,830
71$1,511,022$917,040$785,072$1,372,982
72$1,637,098$933,927$783,323$1,462,408
73$1,775,150$950,758$780,633$1,559,831
74$1,926,372$967,502$776,941$1,666,050
75$2,092,079$984,126$772,185$1,781,945
76$2,273,718$1,000,595$766,301$1,908,486
77$2,472,884$1,016,871$759,219$2,046,740
78$2,691,334$1,032,913$750,868$2,197,887
79$2,931,001$1,048,677$741,173$2,363,225
80$3,194,016$1,064,116$730,056$2,544,186
81$3,482,727$1,079,178$717,433$2,742,346
82$3,799,718$1,093,811$703,220$2,959,445
83$4,147,837$1,107,956$687,326$3,197,400
84$4,530,222$1,121,551$669,657$3,458,324
85$4,950,328$1,134,531$650,114$3,744,547
86$5,411,963$1,146,824$628,595$4,058,634
87$5,919,321$1,158,356$604,990$4,403,417
88$6,477,022$1,169,046$579,188$4,782,015
89$7,090,157$1,178,808$551,070$5,197,866
90$7,764,336$1,187,552$520,513$5,654,760
91$8,505,737$1,195,181$487,389$6,156,875
92$9,321,167$1,201,590$451,562$6,708,816
93$10,218,129$1,206,671$412,892$7,315,658
94$11,204,887$1,210,306$371,232$7,982,997
95$12,290,545$1,212,372$326,429$8,716,999
96$13,485,138$1,212,735$278,321$9,524,462
97$14,799,720$1,211,256$226,742$10,412,878
98$16,246,470$1,207,787$171,517$11,390,506
99$17,838,810$1,202,168$112,463$12,466,449
100$19,591,527$1,194,233$49,389$13,650,738