Can I retire at age 63 with 840,000?

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 $840,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.7%
1 years$69,366$68,749$68,146$67,557$66,983$65,152
2 years$34,340$33,700$33,080$32,479$31,897$30,066
3 years$22,666$22,023$21,405$20,810$20,236$18,463
4 years$16,830$16,190$15,578$14,992$14,433$12,729
5 years$13,329$12,693$12,089$11,516$10,972$9,344
6 years$10,996$10,365$9,770$9,209$8,681$7,130
7 years$9,331$8,704$8,119$7,571$7,060$5,586
8 years$8,082$7,461$6,885$6,351$5,857$4,459
9 years$7,111$6,496$5,930$5,410$4,933$3,609
10 years$6,335$5,726$5,170$4,663$4,203$2,953
11 years$5,700$5,098$4,552$4,059$3,615$2,436
12 years$5,172$4,575$4,039$3,560$3,132$2,022
13 years$4,725$4,135$3,609$3,143$2,731$1,688
14 years$4,342$3,758$3,243$2,790$2,394$1,415
15 years$4,011$3,433$2,928$2,488$2,108$1,190
16 years$3,722$3,150$2,654$2,228$1,863$1,004
17 years$3,466$2,901$2,415$2,002$1,652$849
18 years$3,240$2,681$2,205$1,804$1,469$720
19 years$3,037$2,484$2,019$1,630$1,309$611
20 years$2,855$2,309$1,853$1,476$1,169$519
21 years$2,690$2,150$1,704$1,340$1,047$442
22 years$2,541$2,007$1,570$1,218$938$377
23 years$2,405$1,877$1,450$1,109$842$321
24 years$2,280$1,759$1,341$1,012$757$274
25 years$2,166$1,651$1,242$924$681$234
26 years$2,060$1,551$1,152$845$613$200
27 years$1,963$1,460$1,070$773$553$171
28 years$1,872$1,376$994$709$499$146
29 years$1,788$1,298$925$650$451$125
30 years$1,710$1,226$862$596$407$107
31 years$1,637$1,159$804$548$368$91
32 years$1,568$1,096$750$503$333$78
33 years$1,504$1,038$700$463$301$67
34 years$1,444$984$654$426$273$57
35 years$1,387$933$612$392$247$49
36 years$1,334$886$572$361$224$42
37 years$1,284$841$535$333$203$36
38 years$1,236$800$501$307$184$31
39 years$1,191$760$470$283$167$26
40 years$1,148$723$440$261$151$23
41 years$1,108$689$413$241$137$19
42 years$1,069$656$387$222$125$17
43 years$1,033$625$363$205$113$14
44 years$998$596$341$189$103$12
45 years$965$568$320$175$93$10
46 years$933$542$301$161$85$9
47 years$903$517$283$149$77$8
48 years$874$494$266$138$70$7
49 years$847$471$250$127$63$6
50 years$820$450$235$118$58$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $840,000, adding $3,543 every year, while hoping to spend $49,934 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: 44/41/15 Blend
62$840,000$840,000$840,000$840,000
63$929,335$884,815$871,795$966,060
64$970,997$875,041$847,870$982,324
65$1,015,236$863,115$821,471$994,669
66$1,062,261$848,879$792,461$1,006,971
67$1,112,302$832,164$760,699$1,019,247
68$1,165,610$812,793$726,035$1,031,519
69$1,222,461$790,579$688,316$1,043,815
70$1,283,156$765,321$647,379$1,056,173
71$1,348,026$736,811$603,055$1,068,635
72$1,417,434$704,823$555,166$1,081,254
73$1,491,777$669,124$503,529$1,094,092
74$1,571,490$629,463$447,949$1,107,224
75$1,657,052$585,576$388,225$1,120,737
76$1,748,987$537,186$324,146$1,134,733
77$1,847,871$483,995$255,493$1,149,330
78$1,954,337$425,694$182,035$1,164,666
79$2,069,078$361,952$103,532$1,180,899
80$2,192,859$292,423$19,735$1,198,209
81$2,326,516$216,737$0$1,216,806
82$2,470,971$134,507$0$1,248,080
83$2,627,236$45,323$0$1,285,243
84$2,796,422$0$0$1,325,488
85$2,979,754$0$0$1,392,331
86$3,178,575$0$0$1,487,082
87$3,394,366$0$0$1,590,008
88$3,628,751$0$0$1,701,898
89$3,883,521$0$0$1,823,616
90$4,160,643$0$0$1,956,115
91$4,462,284$0$0$2,100,444
92$4,790,825$0$0$2,257,755
93$5,148,890$0$0$2,429,319
94$5,539,363$0$0$2,616,532
95$5,965,420$0$0$2,820,933
96$6,430,559$0$0$3,044,215
97$6,938,627$0$0$3,288,241
98$7,493,860$0$0$3,555,064
99$8,100,923$0$0$3,846,942
100$8,764,951$0$0$4,166,363