Can I retire at age 63 with 840,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%19.8%
1 years$69,366$68,749$68,146$67,557$66,983$64,351
2 years$34,340$33,700$33,080$32,479$31,897$29,277
3 years$22,666$22,023$21,405$20,810$20,236$17,712
4 years$16,830$16,190$15,578$14,992$14,433$12,022
5 years$13,329$12,693$12,089$11,516$10,972$8,681
6 years$10,996$10,365$9,770$9,209$8,681$6,513
7 years$9,331$8,704$8,119$7,571$7,060$5,013
8 years$8,082$7,461$6,885$6,351$5,857$3,929
9 years$7,111$6,496$5,930$5,410$4,933$3,121
10 years$6,335$5,726$5,170$4,663$4,203$2,504
11 years$5,700$5,098$4,552$4,059$3,615$2,024
12 years$5,172$4,575$4,039$3,560$3,132$1,646
13 years$4,725$4,135$3,609$3,143$2,731$1,345
14 years$4,342$3,758$3,243$2,790$2,394$1,104
15 years$4,011$3,433$2,928$2,488$2,108$908
16 years$3,722$3,150$2,654$2,228$1,863$749
17 years$3,466$2,901$2,415$2,002$1,652$620
18 years$3,240$2,681$2,205$1,804$1,469$513
19 years$3,037$2,484$2,019$1,630$1,309$425
20 years$2,855$2,309$1,853$1,476$1,169$353
21 years$2,690$2,150$1,704$1,340$1,047$293
22 years$2,541$2,007$1,570$1,218$938$244
23 years$2,405$1,877$1,450$1,109$842$203
24 years$2,280$1,759$1,341$1,012$757$169
25 years$2,166$1,651$1,242$924$681$141
26 years$2,060$1,551$1,152$845$613$117
27 years$1,963$1,460$1,070$773$553$98
28 years$1,872$1,376$994$709$499$82
29 years$1,788$1,298$925$650$451$68
30 years$1,710$1,226$862$596$407$57
31 years$1,637$1,159$804$548$368$47
32 years$1,568$1,096$750$503$333$39
33 years$1,504$1,038$700$463$301$33
34 years$1,444$984$654$426$273$27
35 years$1,387$933$612$392$247$23
36 years$1,334$886$572$361$224$19
37 years$1,284$841$535$333$203$16
38 years$1,236$800$501$307$184$13
39 years$1,191$760$470$283$167$11
40 years$1,148$723$440$261$151$9
41 years$1,108$689$413$241$137$8
42 years$1,069$656$387$222$125$6
43 years$1,033$625$363$205$113$5
44 years$998$596$341$189$103$5
45 years$965$568$320$175$93$4
46 years$933$542$301$161$85$3
47 years$903$517$283$149$77$3
48 years$874$494$266$138$70$2
49 years$847$471$250$127$63$2
50 years$820$450$235$118$58$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $840,000, adding $6,992 every year, while hoping to spend $38,557 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: 72/14/14 Blend
62$840,000$840,000$840,000$840,000
63$932,892$888,372$875,352$996,702
64$987,023$890,878$863,652$1,042,426
65$1,045,383$892,215$850,268$1,087,101
66$1,108,362$892,283$835,102$1,135,000
67$1,176,390$890,981$818,054$1,186,436
68$1,249,939$888,196$799,016$1,241,749
69$1,329,527$883,812$777,877$1,301,319
70$1,415,724$877,704$754,521$1,365,563
71$1,509,157$869,740$728,826$1,434,941
72$1,610,514$859,780$700,665$1,509,961
73$1,720,553$847,676$669,904$1,591,183
74$1,840,108$833,271$636,404$1,679,226
75$1,970,096$816,398$600,020$1,774,770
76$2,111,524$796,880$560,599$1,878,569
77$2,265,503$774,531$517,983$1,991,454
78$2,433,255$749,152$472,006$2,114,339
79$2,616,121$720,536$422,493$2,248,236
80$2,815,583$688,459$369,263$2,394,259
81$3,033,267$652,688$312,128$2,553,638
82$3,270,965$612,975$250,890$2,727,731
83$3,530,651$569,058$185,341$2,918,034
84$3,814,494$520,659$115,267$3,126,198
85$4,124,887$467,485$40,443$3,354,044
86$4,464,461$409,228$0$3,603,584
87$4,836,115$345,559$0$3,882,918
88$5,243,041$276,134$0$4,195,436
89$5,688,753$200,586$0$4,537,824
90$6,177,121$118,530$0$4,913,097
91$6,712,409$29,559$0$5,324,576
92$7,299,310$0$0$5,775,924
93$7,942,996$0$0$6,281,460
94$8,649,161$0$0$6,841,104
95$9,424,078$0$0$7,455,277
96$10,274,657$0$0$8,129,463
97$11,208,509$0$0$8,869,698
98$12,234,017$0$0$9,682,634
99$13,360,418$0$0$10,575,600
100$14,597,886$0$0$11,556,666