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%12.8%
1 years$73,495$72,841$72,202$71,579$70,970$70,141
2 years$36,384$35,706$35,050$34,413$33,795$32,961
3 years$24,015$23,334$22,679$22,049$21,441$20,627
4 years$17,832$17,153$16,505$15,885$15,292$14,505
5 years$14,123$13,448$12,808$12,201$11,625$10,867
6 years$11,651$10,982$10,351$9,757$9,198$8,470
7 years$9,886$9,222$8,602$8,022$7,481$6,783
8 years$8,563$7,905$7,295$6,729$6,206$5,538
9 years$7,534$6,883$6,283$5,732$5,226$4,589
10 years$6,712$6,067$5,478$4,941$4,453$3,845
11 years$6,040$5,401$4,823$4,300$3,830$3,251
12 years$5,480$4,848$4,280$3,772$3,319$2,768
13 years$5,006$4,381$3,824$3,330$2,894$2,371
14 years$4,601$3,982$3,436$2,956$2,537$2,041
15 years$4,250$3,638$3,102$2,636$2,234$1,764
16 years$3,943$3,338$2,812$2,360$1,974$1,530
17 years$3,673$3,074$2,559$2,121$1,750$1,330
18 years$3,432$2,840$2,336$1,911$1,556$1,160
19 years$3,218$2,632$2,139$1,727$1,387$1,013
20 years$3,025$2,446$1,963$1,564$1,239$887
21 years$2,851$2,278$1,805$1,420$1,109$778
22 years$2,692$2,127$1,664$1,291$994$683
23 years$2,548$1,989$1,536$1,175$892$600
24 years$2,416$1,864$1,421$1,072$802$528
25 years$2,295$1,749$1,316$979$722$465
26 years$2,183$1,644$1,221$895$650$410
27 years$2,079$1,547$1,133$819$586$361
28 years$1,984$1,458$1,054$751$529$319
29 years$1,895$1,375$980$688$477$282
30 years$1,812$1,299$913$632$431$249
31 years$1,734$1,228$851$580$390$220
32 years$1,662$1,162$794$533$353$194
33 years$1,594$1,100$742$490$319$172
34 years$1,530$1,043$693$451$289$152
35 years$1,470$989$648$415$262$135
36 years$1,414$939$606$383$237$119
37 years$1,360$892$567$352$215$105
38 years$1,310$847$531$325$195$93
39 years$1,262$806$498$300$177$83
40 years$1,217$767$467$276$160$73
41 years$1,174$730$437$255$145$65
42 years$1,133$695$410$235$132$57
43 years$1,094$662$385$217$120$51
44 years$1,057$631$361$201$109$45
45 years$1,022$602$339$185$99$40
46 years$989$574$319$171$90$35
47 years$957$548$299$158$81$31
48 years$926$523$281$146$74$28
49 years$897$499$265$135$67$25
50 years$869$477$249$125$61$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $890,000, adding $5,361 every year, while hoping to spend $27,960 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: 74/8/18 Blend
62$890,000$890,000$890,000$890,000
63$986,310$939,140$925,345$1,054,798
64$1,057,164$955,409$926,595$1,117,190
65$1,134,309$971,537$926,949$1,181,599
66$1,218,355$987,490$926,349$1,251,447
67$1,309,977$1,003,227$924,732$1,327,268
68$1,409,917$1,018,706$922,032$1,409,651
69$1,518,989$1,033,883$918,181$1,499,245
70$1,638,092$1,048,710$913,106$1,596,765
71$1,768,215$1,063,134$906,733$1,702,999
72$1,910,446$1,077,101$898,981$1,818,816
73$2,065,984$1,090,552$889,770$1,945,171
74$2,236,148$1,103,422$879,010$2,083,121
75$2,422,391$1,115,645$866,613$2,233,827
76$2,626,312$1,127,149$852,482$2,398,570
77$2,849,674$1,137,858$836,518$2,578,762
78$3,094,416$1,147,688$818,617$2,775,959
79$3,362,675$1,156,554$798,669$2,991,876
80$3,656,804$1,164,361$776,561$3,228,402
81$3,979,396$1,171,013$752,173$3,487,622
82$4,333,304$1,176,402$725,381$3,771,831
83$4,721,673$1,180,418$696,053$4,083,559
84$5,147,967$1,182,941$664,054$4,425,596
85$5,616,000$1,183,845$629,240$4,801,016
86$6,129,974$1,182,997$591,463$5,213,207
87$6,694,521$1,180,253$550,565$5,665,903
88$7,314,738$1,175,461$506,386$6,163,220
89$7,996,246$1,168,463$458,754$6,709,696
90$8,745,232$1,159,087$407,491$7,310,330
91$9,568,516$1,147,152$352,412$7,970,633
92$10,473,609$1,132,468$293,323$8,696,679
93$11,468,790$1,114,831$230,022$9,495,163
94$12,563,175$1,094,026$162,296$10,373,464
95$13,766,811$1,069,826$89,925$11,339,715
96$15,090,767$1,041,989$12,679$12,402,878
97$16,547,239$1,010,260$0$13,572,833
98$18,149,663$974,368$0$14,873,865
99$19,912,844$934,028$0$16,308,048
100$21,853,095$888,936$0$17,886,221