Can I retire at age 63 with 747,000?

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 $747,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$61,687$61,137$60,601$60,078$59,567$58,436
2 years$30,538$29,969$29,418$28,884$28,365$27,230
3 years$20,156$19,585$19,035$18,506$17,996$16,892
4 years$14,967$14,397$13,853$13,333$12,835$11,771
5 years$11,854$11,288$10,750$10,241$9,757$8,736
6 years$9,779$9,217$8,688$8,190$7,720$6,743
7 years$8,298$7,741$7,220$6,733$6,279$5,346
8 years$7,187$6,635$6,123$5,648$5,209$4,320
9 years$6,324$5,777$5,274$4,811$4,387$3,541
10 years$5,634$5,092$4,598$4,147$3,738$2,935
11 years$5,069$4,533$4,048$3,609$3,214$2,453
12 years$4,599$4,069$3,592$3,166$2,786$2,065
13 years$4,202$3,677$3,209$2,795$2,429$1,748
14 years$3,862$3,342$2,884$2,481$2,129$1,487
15 years$3,567$3,053$2,604$2,213$1,875$1,269
16 years$3,309$2,801$2,361$1,981$1,657$1,087
17 years$3,082$2,580$2,148$1,780$1,469$933
18 years$2,881$2,384$1,961$1,604$1,306$803
19 years$2,701$2,209$1,795$1,450$1,164$692
20 years$2,539$2,053$1,647$1,313$1,040$598
21 years$2,392$1,912$1,515$1,191$931$517
22 years$2,260$1,785$1,397$1,083$834$448
23 years$2,139$1,670$1,289$987$749$388
24 years$2,028$1,564$1,193$900$673$337
25 years$1,926$1,468$1,105$822$606$292
26 years$1,832$1,380$1,024$751$546$254
27 years$1,745$1,298$951$688$492$221
28 years$1,665$1,224$884$630$444$192
29 years$1,590$1,154$823$578$401$167
30 years$1,521$1,090$767$530$362$145
31 years$1,456$1,030$715$487$327$127
32 years$1,395$975$667$448$296$110
33 years$1,338$923$623$412$268$96
34 years$1,284$875$582$379$243$84
35 years$1,234$830$544$349$220$73
36 years$1,186$788$509$321$199$64
37 years$1,142$748$476$296$180$55
38 years$1,099$711$446$273$164$48
39 years$1,059$676$418$251$148$42
40 years$1,021$643$392$232$135$37
41 years$985$612$367$214$122$32
42 years$951$583$344$197$111$28
43 years$919$556$323$182$101$24
44 years$888$530$303$168$91$21
45 years$858$505$285$155$83$19
46 years$830$482$268$144$75$16
47 years$803$460$251$133$68$14
48 years$777$439$236$123$62$12
49 years$753$419$222$113$56$11
50 years$729$400$209$105$51$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $747,000, adding $6,975 every year, while hoping to spend $37,309 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: 26/44/30 Blend
62$747,000$747,000$747,000$747,000
63$830,389$790,798$779,219$844,102
64$875,392$789,850$765,627$855,071
65$923,735$787,606$750,328$863,215
66$975,719$783,962$733,227$871,201
67$1,031,675$778,809$714,223$879,040
68$1,091,967$772,031$693,210$886,751
69$1,156,992$763,505$670,078$894,357
70$1,227,190$753,102$644,710$901,888
71$1,303,042$740,682$616,986$909,380
72$1,385,077$726,100$586,780$916,880
73$1,473,877$709,202$553,959$924,440
74$1,570,081$689,822$518,386$932,126
75$1,674,394$667,787$479,916$940,015
76$1,787,587$642,914$438,399$948,196
77$1,910,512$615,008$393,676$956,776
78$2,044,104$583,863$345,584$965,875
79$2,189,392$549,261$293,950$975,635
80$2,347,508$510,973$238,596$986,220
81$2,519,698$468,755$179,333$997,814
82$2,707,333$422,350$115,966$1,010,633
83$2,911,922$371,486$48,292$1,024,919
84$3,135,124$315,875$0$1,040,950
85$3,378,768$255,214$0$1,066,700
86$3,644,865$189,182$0$1,111,860
87$3,935,630$117,441$0$1,161,434
88$4,253,501$39,633$0$1,215,955
89$4,601,163$0$0$1,276,016
90$4,981,572$0$0$1,363,884
91$5,397,981$0$0$1,481,196
92$5,853,975$0$0$1,609,786
93$6,353,501$0$0$1,750,784
94$6,900,905$0$0$1,905,433
95$7,500,973$0$0$2,075,102
96$8,158,977$0$0$2,261,300
97$8,880,725$0$0$2,465,689
98$9,672,611$0$0$2,690,097
99$10,541,680$0$0$2,936,542
100$11,495,692$0$0$3,207,244