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%13.7%
1 years$73,495$72,841$72,202$71,579$70,970$69,880
2 years$36,384$35,706$35,050$34,413$33,795$32,700
3 years$24,015$23,334$22,679$22,049$21,441$20,375
4 years$17,832$17,153$16,505$15,885$15,292$14,262
5 years$14,123$13,448$12,808$12,201$11,625$10,635
6 years$11,651$10,982$10,351$9,757$9,198$8,249
7 years$9,886$9,222$8,602$8,022$7,481$6,573
8 years$8,563$7,905$7,295$6,729$6,206$5,339
9 years$7,534$6,883$6,283$5,732$5,226$4,400
10 years$6,712$6,067$5,478$4,941$4,453$3,667
11 years$6,040$5,401$4,823$4,300$3,830$3,083
12 years$5,480$4,848$4,280$3,772$3,319$2,610
13 years$5,006$4,381$3,824$3,330$2,894$2,223
14 years$4,601$3,982$3,436$2,956$2,537$1,902
15 years$4,250$3,638$3,102$2,636$2,234$1,633
16 years$3,943$3,338$2,812$2,360$1,974$1,408
17 years$3,673$3,074$2,559$2,121$1,750$1,216
18 years$3,432$2,840$2,336$1,911$1,556$1,054
19 years$3,218$2,632$2,139$1,727$1,387$915
20 years$3,025$2,446$1,963$1,564$1,239$795
21 years$2,851$2,278$1,805$1,420$1,109$693
22 years$2,692$2,127$1,664$1,291$994$604
23 years$2,548$1,989$1,536$1,175$892$527
24 years$2,416$1,864$1,421$1,072$802$460
25 years$2,295$1,749$1,316$979$722$403
26 years$2,183$1,644$1,221$895$650$352
27 years$2,079$1,547$1,133$819$586$309
28 years$1,984$1,458$1,054$751$529$270
29 years$1,895$1,375$980$688$477$237
30 years$1,812$1,299$913$632$431$208
31 years$1,734$1,228$851$580$390$182
32 years$1,662$1,162$794$533$353$160
33 years$1,594$1,100$742$490$319$140
34 years$1,530$1,043$693$451$289$123
35 years$1,470$989$648$415$262$108
36 years$1,414$939$606$383$237$95
37 years$1,360$892$567$352$215$84
38 years$1,310$847$531$325$195$73
39 years$1,262$806$498$300$177$64
40 years$1,217$767$467$276$160$57
41 years$1,174$730$437$255$145$50
42 years$1,133$695$410$235$132$44
43 years$1,094$662$385$217$120$38
44 years$1,057$631$361$201$109$34
45 years$1,022$602$339$185$99$30
46 years$989$574$319$171$90$26
47 years$957$548$299$158$81$23
48 years$926$523$281$146$74$20
49 years$897$499$265$135$67$18
50 years$869$477$249$125$61$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $890,000, adding $2,197 every year, while hoping to spend $49,786 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: 62/22/16 Blend
62$890,000$890,000$890,000$890,000
63$983,046$935,876$922,081$1,039,933
64$1,030,345$928,762$899,999$1,071,341
65$1,080,800$919,631$875,508$1,099,789
66$1,134,680$908,331$848,476$1,129,661
67$1,192,280$894,702$818,763$1,161,098
68$1,253,924$878,574$786,223$1,194,258
69$1,319,967$859,767$750,704$1,229,318
70$1,390,797$838,090$712,047$1,266,472
71$1,466,843$813,340$670,085$1,305,938
72$1,548,572$785,305$624,644$1,347,959
73$1,636,499$753,757$575,542$1,392,804
74$1,731,188$718,458$522,589$1,440,772
75$1,833,260$679,154$465,587$1,492,196
76$1,943,397$635,577$404,328$1,547,446
77$2,062,347$587,443$338,596$1,606,931
78$2,190,932$534,454$268,165$1,671,109
79$2,330,058$476,292$192,799$1,740,484
80$2,480,717$412,624$112,251$1,815,619
81$2,644,002$343,095$26,264$1,897,135
82$2,821,116$267,332$0$1,985,723
83$3,013,379$184,940$0$2,093,331
84$3,222,245$95,504$0$2,215,138
85$3,449,313$0$0$2,347,645
86$3,696,341$0$0$2,492,291
87$3,965,264$0$0$2,674,985
88$4,258,213$0$0$2,874,060
89$4,577,530$0$0$3,091,118
90$4,925,794$0$0$3,327,918
91$5,305,844$0$0$3,586,399
92$5,720,803$0$0$3,868,695
93$6,174,113$0$0$4,177,155
94$6,669,558$0$0$4,514,363
95$7,211,307$0$0$4,883,168
96$7,803,951$0$0$5,286,704
97$8,452,543$0$0$5,728,422
98$9,162,648$0$0$6,212,123
99$9,940,394$0$0$6,741,992
100$10,792,529$0$0$7,322,640