Can I retire at age 63 with 890,000?

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 $890,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.7%
1 years$73,495$72,841$72,202$71,579$70,970$68,753
2 years$36,384$35,706$35,050$34,413$33,795$31,582
3 years$24,015$23,334$22,679$22,049$21,441$19,300
4 years$17,832$17,153$16,505$15,885$15,292$13,240
5 years$14,123$13,448$12,808$12,201$11,625$9,667
6 years$11,651$10,982$10,351$9,757$9,198$7,337
7 years$9,886$9,222$8,602$8,022$7,481$5,715
8 years$8,563$7,905$7,295$6,729$6,206$4,536
9 years$7,534$6,883$6,283$5,732$5,226$3,649
10 years$6,712$6,067$5,478$4,941$4,453$2,966
11 years$6,040$5,401$4,823$4,300$3,830$2,431
12 years$5,480$4,848$4,280$3,772$3,319$2,005
13 years$5,006$4,381$3,824$3,330$2,894$1,663
14 years$4,601$3,982$3,436$2,956$2,537$1,384
15 years$4,250$3,638$3,102$2,636$2,234$1,156
16 years$3,943$3,338$2,812$2,360$1,974$968
17 years$3,673$3,074$2,559$2,121$1,750$813
18 years$3,432$2,840$2,336$1,911$1,556$684
19 years$3,218$2,632$2,139$1,727$1,387$576
20 years$3,025$2,446$1,963$1,564$1,239$486
21 years$2,851$2,278$1,805$1,420$1,109$411
22 years$2,692$2,127$1,664$1,291$994$347
23 years$2,548$1,989$1,536$1,175$892$294
24 years$2,416$1,864$1,421$1,072$802$249
25 years$2,295$1,749$1,316$979$722$211
26 years$2,183$1,644$1,221$895$650$178
27 years$2,079$1,547$1,133$819$586$151
28 years$1,984$1,458$1,054$751$529$128
29 years$1,895$1,375$980$688$477$109
30 years$1,812$1,299$913$632$431$92
31 years$1,734$1,228$851$580$390$78
32 years$1,662$1,162$794$533$353$66
33 years$1,594$1,100$742$490$319$56
34 years$1,530$1,043$693$451$289$48
35 years$1,470$989$648$415$262$41
36 years$1,414$939$606$383$237$35
37 years$1,360$892$567$352$215$29
38 years$1,310$847$531$325$195$25
39 years$1,262$806$498$300$177$21
40 years$1,217$767$467$276$160$18
41 years$1,174$730$437$255$145$15
42 years$1,133$695$410$235$132$13
43 years$1,094$662$385$217$120$11
44 years$1,057$631$361$201$109$9
45 years$1,022$602$339$185$99$8
46 years$989$574$319$171$90$7
47 years$957$548$299$158$81$6
48 years$926$523$281$146$74$5
49 years$897$499$265$135$67$4
50 years$869$477$249$125$61$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $890,000, adding $2,378 every year, while hoping to spend $54,499 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: 69/18/13 Blend
62$890,000$890,000$890,000$890,000
63$983,233$936,063$922,268$1,048,084
64$1,025,536$923,943$895,177$1,079,373
65$1,070,328$909,404$865,353$1,106,832
66$1,117,804$892,267$832,645$1,135,459
67$1,168,179$872,348$796,898$1,165,362
68$1,221,688$849,447$757,949$1,196,659
69$1,278,587$823,357$715,627$1,229,484
70$1,339,157$793,855$669,754$1,263,985
71$1,403,705$760,708$620,144$1,300,325
72$1,472,567$723,667$566,604$1,338,689
73$1,546,112$682,470$508,928$1,379,279
74$1,624,744$636,840$446,906$1,422,322
75$1,708,906$586,483$380,315$1,468,070
76$1,799,083$531,089$308,924$1,516,802
77$1,895,808$470,331$232,492$1,568,830
78$1,999,665$403,862$150,765$1,624,498
79$2,111,296$331,316$63,481$1,684,191
80$2,231,405$252,308$0$1,748,333
81$2,360,765$166,427$0$1,821,512
82$2,500,225$73,244$0$1,909,803
83$2,650,717$0$0$2,005,012
84$2,813,267$0$0$2,113,316
85$2,989,001$0$0$2,246,126
86$3,179,157$0$0$2,389,877
87$3,385,094$0$0$2,545,602
88$3,608,309$0$0$2,714,437
89$3,850,447$0$0$2,897,633
90$4,113,318$0$0$3,096,564
91$4,398,909$0$0$3,312,742
92$4,709,412$0$0$3,547,830
93$5,047,232$0$0$3,803,659
94$5,415,021$0$0$4,082,242
95$5,815,692$0$0$4,385,795
96$6,252,455$0$0$4,716,756
97$6,728,839$0$0$5,077,808
98$7,248,732$0$0$5,471,906
99$7,816,410$0$0$5,902,301
100$8,436,584$0$0$6,372,573