Can I retire at age 63 with 883,000?

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 $883,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$72,917$72,268$71,634$71,016$70,412$69,302
2 years$36,098$35,425$34,774$34,142$33,529$32,415
3 years$23,826$23,151$22,501$21,875$21,272$20,187
4 years$17,691$17,018$16,375$15,760$15,172$14,124
5 years$14,012$13,343$12,708$12,105$11,533$10,526
6 years$11,559$10,895$10,270$9,681$9,126$8,160
7 years$9,808$9,150$8,534$7,959$7,422$6,498
8 years$8,496$7,843$7,238$6,677$6,157$5,276
9 years$7,475$6,829$6,234$5,687$5,185$4,345
10 years$6,659$6,019$5,435$4,902$4,418$3,619
11 years$5,992$5,359$4,785$4,266$3,800$3,041
12 years$5,437$4,810$4,246$3,742$3,293$2,573
13 years$4,967$4,346$3,794$3,304$2,871$2,189
14 years$4,565$3,951$3,409$2,933$2,517$1,872
15 years$4,216$3,609$3,078$2,615$2,216$1,607
16 years$3,912$3,311$2,790$2,342$1,959$1,384
17 years$3,644$3,050$2,539$2,104$1,737$1,195
18 years$3,405$2,818$2,318$1,896$1,544$1,034
19 years$3,192$2,612$2,122$1,713$1,376$897
20 years$3,001$2,427$1,947$1,552$1,229$779
21 years$2,828$2,261$1,791$1,408$1,100$678
22 years$2,671$2,110$1,651$1,281$986$591
23 years$2,528$1,974$1,524$1,166$885$515
24 years$2,397$1,849$1,410$1,064$796$450
25 years$2,277$1,735$1,306$971$716$393
26 years$2,166$1,631$1,211$888$645$344
27 years$2,063$1,535$1,124$813$581$301
28 years$1,968$1,446$1,045$745$525$263
29 years$1,880$1,364$973$683$474$231
30 years$1,797$1,289$906$627$428$202
31 years$1,721$1,218$845$576$387$177
32 years$1,649$1,153$788$529$350$155
33 years$1,581$1,092$736$487$317$136
34 years$1,518$1,034$688$448$287$119
35 years$1,459$981$643$412$260$105
36 years$1,402$931$601$380$235$92
37 years$1,349$885$563$350$213$81
38 years$1,299$841$527$322$193$71
39 years$1,252$799$494$297$175$62
40 years$1,207$761$463$274$159$55
41 years$1,165$724$434$253$144$48
42 years$1,124$689$407$233$131$42
43 years$1,086$657$382$215$119$37
44 years$1,049$626$359$199$108$32
45 years$1,014$597$337$184$98$29
46 years$981$570$316$170$89$25
47 years$949$544$297$157$81$22
48 years$919$519$279$145$73$19
49 years$890$496$262$134$67$17
50 years$862$473$247$124$60$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $883,000, adding $6,266 every year, while hoping to spend $35,018 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: 56/34/10 Blend
62$883,000$883,000$883,000$883,000
63$979,529$932,730$919,044$1,031,639
64$1,042,182$941,175$912,573$1,076,019
65$1,110,053$948,860$904,712$1,119,922
66$1,183,635$955,711$895,376$1,166,904
67$1,263,474$961,649$884,479$1,217,262
68$1,350,168$966,590$871,930$1,271,327
69$1,444,376$970,444$857,630$1,329,464
70$1,546,824$973,117$841,482$1,392,076
71$1,658,307$974,507$823,379$1,459,608
72$1,779,703$974,506$803,211$1,532,552
73$1,911,977$973,002$780,863$1,611,451
74$2,056,192$969,872$756,215$1,696,905
75$2,213,516$964,989$729,141$1,789,577
76$2,385,237$958,215$699,509$1,890,198
77$2,572,770$949,407$667,182$1,999,577
78$2,777,675$938,410$632,015$2,118,607
79$3,001,669$925,063$593,858$2,248,274
80$3,246,641$909,193$552,555$2,389,667
81$3,514,673$890,618$507,939$2,543,987
82$3,808,055$869,144$459,841$2,712,563
83$4,129,312$844,567$408,080$2,896,859
84$4,481,220$816,669$352,470$3,098,495
85$4,866,841$785,223$292,814$3,319,257
86$5,289,545$749,984$228,909$3,561,117
87$5,753,042$710,697$160,541$3,826,251
88$6,261,420$667,089$87,488$4,117,063
89$6,819,183$618,874$9,516$4,436,205
90$7,431,289$565,749$0$4,786,605
91$8,103,201$507,391$0$5,179,356
92$8,840,937$443,462$0$5,611,756
93$9,651,124$373,604$0$6,086,750
94$10,541,066$297,438$0$6,608,710
95$11,518,806$214,564$0$7,182,457
96$12,593,206$124,559$0$7,813,309
97$13,774,029$26,978$0$8,507,132
98$15,072,029$0$0$9,270,395
99$16,499,056$0$0$10,139,658
100$18,068,165$0$0$11,106,656