Can I retire at age 63 with 888,000?

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 $888,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.5%
1 years$73,330$72,677$72,040$71,418$70,810$68,654
2 years$36,302$35,626$34,971$34,335$33,719$31,565
3 years$23,961$23,282$22,628$21,999$21,393$19,308
4 years$17,792$17,115$16,468$15,849$15,258$13,259
5 years$14,091$13,418$12,780$12,174$11,599$9,691
6 years$11,625$10,957$10,328$9,735$9,178$7,363
7 years$9,864$9,202$8,582$8,004$7,464$5,743
8 years$8,544$7,887$7,279$6,714$6,192$4,562
9 years$7,517$6,867$6,269$5,719$5,215$3,675
10 years$6,697$6,053$5,466$4,930$4,443$2,991
11 years$6,026$5,389$4,812$4,291$3,821$2,455
12 years$5,467$4,837$4,270$3,763$3,311$2,028
13 years$4,995$4,371$3,815$3,322$2,888$1,683
14 years$4,591$3,973$3,428$2,949$2,531$1,403
15 years$4,240$3,630$3,095$2,630$2,229$1,174
16 years$3,934$3,330$2,806$2,355$1,970$985
17 years$3,664$3,067$2,553$2,116$1,746$828
18 years$3,425$2,834$2,331$1,907$1,553$697
19 years$3,211$2,626$2,134$1,723$1,384$589
20 years$3,018$2,441$1,958$1,561$1,236$497
21 years$2,844$2,273$1,801$1,416$1,106$421
22 years$2,686$2,122$1,660$1,288$992$356
23 years$2,542$1,985$1,533$1,173$890$302
24 years$2,410$1,860$1,418$1,070$800$256
25 years$2,289$1,745$1,313$977$720$217
26 years$2,178$1,640$1,218$893$649$184
27 years$2,075$1,544$1,131$818$585$156
28 years$1,979$1,454$1,051$749$528$133
29 years$1,890$1,372$978$687$476$113
30 years$1,808$1,296$911$630$430$96
31 years$1,730$1,225$850$579$389$82
32 years$1,658$1,159$793$532$352$69
33 years$1,590$1,098$740$489$319$59
34 years$1,527$1,040$691$450$288$50
35 years$1,467$987$646$414$261$43
36 years$1,410$937$605$382$237$36
37 years$1,357$890$566$352$215$31
38 years$1,307$845$530$324$195$26
39 years$1,259$804$497$299$176$22
40 years$1,214$765$465$276$160$19
41 years$1,171$728$436$254$145$16
42 years$1,131$693$409$235$132$14
43 years$1,092$661$384$217$120$12
44 years$1,055$630$361$200$108$10
45 years$1,020$600$339$185$98$8
46 years$987$573$318$171$89$7
47 years$955$547$299$158$81$6
48 years$924$522$281$146$74$5
49 years$895$498$264$135$67$4
50 years$867$476$248$124$61$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $888,000, adding $2,078 every year, while hoping to spend $58,427 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: 61/17/22 Blend
62$888,000$888,000$888,000$888,000
63$980,719$933,655$919,891$1,034,747
64$1,018,587$917,239$888,542$1,055,157
65$1,058,359$898,059$854,184$1,070,813
66$1,100,167$875,920$816,655$1,086,594
67$1,144,157$850,613$775,786$1,102,522
68$1,190,484$821,916$731,398$1,118,621
69$1,239,320$789,596$683,306$1,134,924
70$1,290,850$753,406$631,316$1,151,467
71$1,345,278$713,084$575,226$1,168,295
72$1,402,824$668,353$514,825$1,185,458
73$1,463,731$618,921$449,889$1,203,016
74$1,528,261$564,478$380,190$1,221,040
75$1,596,703$504,696$305,486$1,239,610
76$1,669,371$439,231$225,525$1,258,818
77$1,746,611$367,717$140,044$1,278,773
78$1,828,798$289,769$48,768$1,299,595
79$1,916,346$204,978$0$1,321,426
80$2,009,705$112,913$0$1,355,840
81$2,109,371$13,122$0$1,404,561
82$2,215,885$0$0$1,456,406
83$2,329,840$0$0$1,529,433
84$2,451,890$0$0$1,610,320
85$2,582,747$0$0$1,697,091
86$2,723,196$0$0$1,790,272
87$2,874,096$0$0$1,890,441
88$3,036,392$0$0$1,998,229
89$3,211,119$0$0$2,114,334
90$3,399,417$0$0$2,239,517
91$3,602,536$0$0$2,374,620
92$3,821,848$0$0$2,520,563
93$4,058,864$0$0$2,678,361
94$4,315,242$0$0$2,849,125
95$4,592,805$0$0$3,034,081
96$4,893,557$0$0$3,234,574
97$5,219,704$0$0$3,452,085
98$5,573,668$0$0$3,688,240
99$5,958,116$0$0$3,944,831
100$6,375,979$0$0$4,223,826