Can I retire at age 63 with 847,000?

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 $847,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.5%
1 years$69,944$69,321$68,714$68,120$67,541$66,015
2 years$34,626$33,981$33,356$32,750$32,162$30,634
3 years$22,855$22,207$21,584$20,983$20,405$18,921
4 years$16,970$16,325$15,707$15,117$14,553$13,125
5 years$13,440$12,799$12,190$11,612$11,063$9,695
6 years$11,088$10,451$9,851$9,286$8,754$7,447
7 years$9,408$8,777$8,186$7,634$7,119$5,874
8 years$8,149$7,523$6,943$6,404$5,906$4,722
9 years$7,170$6,550$5,980$5,455$4,974$3,850
10 years$6,388$5,774$5,213$4,702$4,238$3,173
11 years$5,748$5,140$4,590$4,092$3,645$2,637
12 years$5,215$4,613$4,073$3,590$3,158$2,207
13 years$4,765$4,169$3,639$3,169$2,754$1,857
14 years$4,379$3,790$3,270$2,813$2,414$1,570
15 years$4,045$3,462$2,952$2,509$2,126$1,332
16 years$3,753$3,176$2,677$2,246$1,879$1,133
17 years$3,495$2,925$2,436$2,018$1,666$967
18 years$3,267$2,703$2,223$1,819$1,481$826
19 years$3,062$2,505$2,035$1,644$1,320$708
20 years$2,879$2,328$1,868$1,489$1,179$607
21 years$2,713$2,168$1,718$1,351$1,055$522
22 years$2,562$2,024$1,584$1,228$946$449
23 years$2,425$1,893$1,462$1,119$849$386
24 years$2,299$1,774$1,352$1,020$763$333
25 years$2,184$1,665$1,252$932$687$287
26 years$2,077$1,564$1,162$852$619$247
27 years$1,979$1,472$1,079$780$558$213
28 years$1,888$1,387$1,003$715$503$184
29 years$1,803$1,309$933$655$454$159
30 years$1,724$1,236$869$601$411$138
31 years$1,650$1,168$810$552$371$119
32 years$1,581$1,106$756$508$336$103
33 years$1,517$1,047$706$467$304$89
34 years$1,456$992$660$429$275$77
35 years$1,399$941$617$395$249$66
36 years$1,345$893$577$364$226$57
37 years$1,294$848$540$335$205$50
38 years$1,246$806$506$309$186$43
39 years$1,201$767$474$285$168$37
40 years$1,158$730$444$263$153$32
41 years$1,117$694$416$243$138$28
42 years$1,078$661$391$224$126$24
43 years$1,041$630$366$207$114$21
44 years$1,006$601$344$191$103$18
45 years$973$573$323$176$94$16
46 years$941$546$303$163$85$14
47 years$911$521$285$150$77$12
48 years$881$498$268$139$70$10
49 years$854$475$252$128$64$9
50 years$827$454$237$119$58$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $847,000, adding $6,400 every year, while hoping to spend $37,596 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: 36/46/18 Blend
62$847,000$847,000$847,000$847,000
63$939,996$895,105$881,976$968,482
64$995,873$898,963$871,520$993,609
65$1,056,190$901,750$859,454$1,016,721
66$1,121,360$903,374$845,685$1,040,882
67$1,191,837$903,737$830,113$1,066,207
68$1,268,119$902,735$812,636$1,092,825
69$1,350,755$900,257$793,148$1,120,881
70$1,440,349$896,187$771,535$1,150,536
71$1,537,563$890,399$747,680$1,181,971
72$1,643,128$882,762$721,461$1,215,390
73$1,757,846$873,136$692,749$1,251,020
74$1,882,599$861,372$661,409$1,289,115
75$2,018,359$847,314$627,300$1,329,957
76$2,166,194$830,795$590,277$1,373,863
77$2,327,279$811,638$550,185$1,421,186
78$2,502,910$789,656$506,865$1,472,319
79$2,694,510$764,652$460,148$1,527,701
80$2,903,647$736,417$409,859$1,587,821
81$3,132,046$704,728$355,817$1,653,222
82$3,381,606$669,352$297,829$1,724,509
83$3,654,420$630,040$235,696$1,802,356
84$3,952,790$586,531$169,210$1,887,510
85$4,279,250$538,546$98,154$1,980,803
86$4,636,592$485,794$22,301$2,083,159
87$5,027,890$427,964$0$2,195,605
88$5,456,529$364,728$0$2,330,543
89$5,926,237$295,741$0$2,483,276
90$6,441,119$220,639$0$2,650,970
91$7,005,696$139,033$0$2,835,231
92$7,624,950$50,518$0$3,037,837
93$8,304,364$0$0$3,260,758
94$9,049,981$0$0$3,529,119
95$9,868,457$0$0$3,851,897
96$10,767,121$0$0$4,206,427
97$11,754,049$0$0$4,595,911
98$12,838,138$0$0$5,023,875
99$14,029,187$0$0$5,494,206
100$15,337,992$0$0$6,011,184