Can I retire at age 63 with 885,000?

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 $885,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$73,082$72,431$71,796$71,176$70,571$68,559
2 years$36,179$35,506$34,853$34,219$33,605$31,594
3 years$23,880$23,203$22,552$21,925$21,321$19,373
4 years$17,732$17,057$16,412$15,796$15,206$13,337
5 years$14,043$13,373$12,736$12,132$11,559$9,774
6 years$11,585$10,920$10,293$9,702$9,147$7,447
7 years$9,830$9,171$8,553$7,977$7,439$5,824
8 years$8,515$7,861$7,254$6,692$6,171$4,641
9 years$7,492$6,844$6,248$5,700$5,197$3,750
10 years$6,674$6,033$5,447$4,913$4,428$3,062
11 years$6,006$5,371$4,795$4,276$3,808$2,521
12 years$5,449$4,820$4,256$3,751$3,300$2,089
13 years$4,978$4,356$3,802$3,311$2,878$1,740
14 years$4,575$3,960$3,416$2,939$2,523$1,456
15 years$4,226$3,617$3,085$2,621$2,221$1,222
16 years$3,921$3,319$2,797$2,347$1,963$1,029
17 years$3,652$3,057$2,545$2,109$1,741$868
18 years$3,413$2,824$2,323$1,901$1,548$734
19 years$3,200$2,618$2,127$1,717$1,379$622
20 years$3,008$2,432$1,952$1,555$1,232$527
21 years$2,834$2,266$1,795$1,412$1,103$448
22 years$2,677$2,115$1,655$1,283$988$381
23 years$2,534$1,978$1,528$1,169$887$324
24 years$2,402$1,853$1,413$1,066$797$276
25 years$2,282$1,739$1,309$974$718$235
26 years$2,170$1,635$1,214$890$646$200
27 years$2,068$1,538$1,127$815$583$171
28 years$1,972$1,450$1,048$747$526$145
29 years$1,884$1,368$975$685$475$124
30 years$1,801$1,291$908$628$429$106
31 years$1,724$1,221$847$577$388$90
32 years$1,652$1,155$790$530$351$77
33 years$1,585$1,094$738$488$318$66
34 years$1,521$1,037$689$449$287$56
35 years$1,462$983$644$413$260$48
36 years$1,406$933$603$380$236$41
37 years$1,353$887$564$351$214$35
38 years$1,302$843$528$323$194$30
39 years$1,255$801$495$298$176$26
40 years$1,210$762$464$275$159$22
41 years$1,167$726$435$253$145$19
42 years$1,127$691$408$234$131$16
43 years$1,088$658$383$216$119$14
44 years$1,052$628$359$199$108$12
45 years$1,017$598$337$184$98$10
46 years$983$571$317$170$89$9
47 years$951$545$298$157$81$7
48 years$921$520$280$145$73$6
49 years$892$497$263$134$67$5
50 years$864$474$247$124$61$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $885,000, adding $2,627 every year, while hoping to spend $46,068 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: 57/28/15 Blend
62$885,000$885,000$885,000$885,000
63$977,980$931,075$917,357$1,029,788
64$1,028,718$927,681$899,073$1,061,805
65$1,083,087$922,578$878,632$1,091,407
66$1,141,409$915,631$855,913$1,122,602
67$1,204,037$906,702$830,791$1,155,550
68$1,271,359$895,640$803,132$1,190,431
69$1,343,800$882,289$772,799$1,227,444
70$1,421,827$866,480$739,647$1,266,812
71$1,505,952$848,037$703,525$1,308,780
72$1,596,740$826,772$664,274$1,353,625
73$1,694,810$802,485$621,729$1,401,649
74$1,800,841$774,968$575,718$1,453,194
75$1,915,583$743,997$526,060$1,508,634
76$2,039,856$709,337$472,567$1,568,389
77$2,174,565$670,738$415,041$1,632,922
78$2,320,703$627,937$353,278$1,702,749
79$2,479,365$580,655$287,062$1,778,441
80$2,651,751$528,598$216,170$1,860,632
81$2,839,184$471,454$140,366$1,950,026
82$3,043,119$408,894$59,407$2,047,401
83$3,265,158$340,571$0$2,153,623
84$3,507,061$266,116$0$2,273,967
85$3,770,768$185,142$0$2,415,604
86$4,058,411$97,238$0$2,570,233
87$4,372,339$1,973$0$2,739,204
88$4,715,136$0$0$2,924,005
89$5,089,649$0$0$3,157,435
90$5,499,010$0$0$3,413,324
91$5,946,667$0$0$3,693,229
92$6,436,418$0$0$3,999,535
93$6,972,444$0$0$4,334,866
94$7,559,349$0$0$4,702,114
95$8,202,204$0$0$5,104,461
96$8,906,592$0$0$5,545,413
97$9,678,662$0$0$6,028,832
98$10,525,186$0$0$6,558,970
99$11,453,624$0$0$7,140,511
100$12,472,191$0$0$7,778,613