Can I retire at age 63 with 788,000?

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 $788,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$65,072$64,493$63,927$63,375$62,836$62,519
2 years$32,214$31,614$31,033$30,469$29,922$29,602
3 years$21,263$20,660$20,080$19,522$18,984$18,670
4 years$15,788$15,187$14,613$14,064$13,539$13,235
5 years$12,504$11,907$11,340$10,803$10,292$9,999
6 years$10,316$9,723$9,165$8,639$8,144$7,861
7 years$8,753$8,165$7,616$7,103$6,623$6,351
8 years$7,582$6,999$6,459$5,958$5,495$5,233
9 years$6,671$6,094$5,563$5,075$4,627$4,377
10 years$5,943$5,372$4,850$4,375$3,943$3,703
11 years$5,348$4,782$4,270$3,807$3,391$3,162
12 years$4,852$4,292$3,789$3,340$2,938$2,719
13 years$4,433$3,879$3,386$2,948$2,562$2,353
14 years$4,074$3,526$3,042$2,617$2,246$2,047
15 years$3,763$3,221$2,746$2,334$1,978$1,788
16 years$3,491$2,955$2,490$2,090$1,748$1,568
17 years$3,252$2,721$2,266$1,878$1,550$1,379
18 years$3,039$2,515$2,068$1,692$1,378$1,216
19 years$2,849$2,331$1,894$1,529$1,228$1,075
20 years$2,678$2,166$1,738$1,385$1,097$952
21 years$2,524$2,017$1,598$1,257$982$844
22 years$2,384$1,883$1,473$1,143$880$750
23 years$2,256$1,761$1,360$1,041$790$667
24 years$2,139$1,650$1,258$949$710$594
25 years$2,032$1,549$1,165$867$639$530
26 years$1,933$1,455$1,081$793$576$473
27 years$1,841$1,370$1,003$726$519$423
28 years$1,756$1,291$933$665$468$378
29 years$1,677$1,218$868$610$423$338
30 years$1,604$1,150$809$559$382$302
31 years$1,535$1,087$754$514$345$271
32 years$1,471$1,029$703$472$312$242
33 years$1,411$974$657$434$283$217
34 years$1,355$923$614$400$256$195
35 years$1,302$876$574$368$232$175
36 years$1,252$831$537$339$210$157
37 years$1,204$789$502$312$190$141
38 years$1,160$750$470$288$173$126
39 years$1,117$713$441$265$157$113
40 years$1,077$679$413$245$142$102
41 years$1,039$646$387$226$129$91
42 years$1,003$615$363$208$117$82
43 years$969$586$341$192$106$74
44 years$936$559$320$178$96$66
45 years$905$533$300$164$87$59
46 years$875$508$282$151$79$53
47 years$847$485$265$140$72$48
48 years$820$463$249$129$65$43
49 years$794$442$234$119$59$39
50 years$769$422$220$110$54$35

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $788,000, adding $6,354 every year, while hoping to spend $30,062 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: 41/29/30 Blend
62$788,000$788,000$788,000$788,000
63$874,930$833,166$820,952$902,872
64$932,187$842,006$816,468$932,587
65$994,277$850,271$810,827$961,472
66$1,061,661$857,901$803,957$992,177
67$1,134,846$864,834$795,785$1,024,890
68$1,214,389$871,000$786,233$1,059,817
69$1,300,906$876,328$775,221$1,097,189
70$1,395,071$880,741$762,663$1,137,261
71$1,497,627$884,156$748,471$1,180,317
72$1,609,392$886,486$732,552$1,226,670
73$1,731,266$887,640$714,808$1,276,670
74$1,864,238$887,518$695,138$1,330,702
75$2,009,401$886,016$673,435$1,389,194
76$2,167,952$883,024$649,588$1,452,620
77$2,341,214$878,423$623,480$1,521,505
78$2,530,641$872,088$594,989$1,596,431
79$2,737,833$863,888$563,989$1,678,042
80$2,964,556$853,682$530,345$1,767,049
81$3,212,749$841,320$493,920$1,864,243
82$3,484,550$826,646$454,568$1,970,496
83$3,782,315$809,492$412,136$2,086,774
84$4,108,635$789,681$366,467$2,214,146
85$4,466,366$767,026$317,394$2,353,793
86$4,858,654$741,329$264,745$2,507,022
87$5,288,961$712,379$208,339$2,675,280
88$5,761,104$679,954$147,987$2,860,163
89$6,279,284$643,819$83,492$3,063,438
90$6,848,131$603,726$14,649$3,287,058
91$7,472,743$559,412$0$3,533,179
92$8,158,738$510,599$0$3,823,014
93$8,912,304$456,992$0$4,146,597
94$9,740,257$398,283$0$4,502,218
95$10,650,106$334,141$0$4,893,170
96$11,650,124$264,222$0$5,323,086
97$12,749,427$188,159$0$5,795,970
98$13,958,054$105,564$0$6,316,242
99$15,287,069$16,030$0$6,888,775
100$16,748,660$0$0$7,518,944