Can I retire at age 63 with 892,000?

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 $892,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$73,661$73,004$72,364$71,739$71,129$69,382
2 years$36,466$35,786$35,128$34,490$33,871$32,121
3 years$24,069$23,387$22,730$22,098$21,489$19,792
4 years$17,872$17,192$16,542$15,920$15,326$13,694
5 years$14,154$13,479$12,837$12,228$11,651$10,089
6 years$11,677$11,006$10,374$9,779$9,219$7,728
7 years$9,908$9,243$8,621$8,040$7,497$6,079
8 years$8,582$7,923$7,311$6,745$6,220$4,872
9 years$7,551$6,898$6,297$5,745$5,238$3,960
10 years$6,727$6,081$5,490$4,952$4,463$3,254
11 years$6,053$5,413$4,833$4,310$3,838$2,696
12 years$5,492$4,859$4,290$3,780$3,326$2,249
13 years$5,018$4,391$3,832$3,337$2,901$1,886
14 years$4,611$3,991$3,443$2,963$2,543$1,589
15 years$4,259$3,646$3,109$2,642$2,239$1,343
16 years$3,952$3,345$2,819$2,366$1,979$1,139
17 years$3,681$3,081$2,565$2,126$1,754$968
18 years$3,440$2,847$2,341$1,916$1,560$825
19 years$3,225$2,638$2,143$1,731$1,390$704
20 years$3,032$2,452$1,967$1,568$1,242$601
21 years$2,857$2,284$1,809$1,423$1,111$515
22 years$2,698$2,132$1,668$1,294$996$441
23 years$2,554$1,994$1,540$1,178$894$378
24 years$2,421$1,868$1,424$1,075$804$324
25 years$2,300$1,753$1,319$981$723$278
26 years$2,188$1,648$1,223$897$651$239
27 years$2,084$1,551$1,136$821$587$206
28 years$1,988$1,461$1,056$752$530$177
29 years$1,899$1,378$983$690$479$152
30 years$1,816$1,302$915$633$432$131
31 years$1,738$1,231$853$582$391$113
32 years$1,666$1,164$796$535$354$97
33 years$1,597$1,103$743$492$320$83
34 years$1,534$1,045$695$452$290$72
35 years$1,473$991$649$416$262$62
36 years$1,417$941$607$383$238$53
37 years$1,363$894$569$353$216$46
38 years$1,313$849$532$326$195$40
39 years$1,265$807$499$300$177$34
40 years$1,220$768$468$277$161$29
41 years$1,176$731$438$255$146$25
42 years$1,136$696$411$236$132$22
43 years$1,097$664$386$218$120$19
44 years$1,060$633$362$201$109$16
45 years$1,025$603$340$186$99$14
46 years$991$575$319$171$90$12
47 years$959$549$300$158$82$10
48 years$928$524$282$146$74$9
49 years$899$501$265$135$67$8
50 years$871$478$249$125$61$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $892,000, adding $4,857 every year, while hoping to spend $25,657 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: 46/35/19 Blend
62$892,000$892,000$892,000$892,000
63$987,994$940,718$926,892$1,027,875
64$1,061,471$959,514$930,644$1,075,035
65$1,141,582$978,372$933,662$1,123,222
66$1,228,977$997,266$935,894$1,174,962
67$1,324,372$1,016,172$937,285$1,230,599
68$1,428,554$1,035,059$937,780$1,290,509
69$1,542,388$1,053,899$937,318$1,355,108
70$1,666,830$1,072,658$935,836$1,424,857
71$1,802,929$1,091,301$933,268$1,500,262
72$1,951,841$1,109,788$929,547$1,581,881
73$2,114,840$1,128,079$924,598$1,670,330
74$2,293,329$1,146,130$918,347$1,766,289
75$2,488,851$1,163,893$910,714$1,870,508
76$2,703,106$1,181,316$901,615$1,983,814
77$2,937,968$1,198,346$890,965$2,107,119
78$3,195,499$1,214,923$878,670$2,241,430
79$3,477,971$1,230,985$864,636$2,387,855
80$3,787,885$1,246,464$848,763$2,547,620
81$4,127,998$1,261,290$830,945$2,722,074
82$4,501,346$1,275,386$811,074$2,912,707
83$4,911,273$1,288,669$789,034$3,121,162
84$5,361,462$1,301,053$764,706$3,349,251
85$5,855,971$1,312,444$737,964$3,598,971
86$6,399,271$1,322,745$708,677$3,872,528
87$6,996,286$1,331,849$676,707$4,172,351
88$7,652,442$1,339,644$641,911$4,501,123
89$8,373,716$1,346,011$604,140$4,861,799
90$9,166,692$1,350,823$563,236$5,257,641
91$10,038,626$1,353,945$519,035$5,692,244
92$10,997,510$1,355,233$471,368$6,169,574
93$12,052,152$1,354,535$420,054$6,694,005
94$13,212,253$1,351,689$364,908$7,270,358
95$14,488,504$1,346,523$305,733$7,903,952
96$15,892,684$1,338,854$242,327$8,600,652
97$17,437,770$1,328,491$174,478$9,366,922
98$19,138,061$1,315,226$101,962$10,209,892
99$21,009,315$1,298,843$24,549$11,137,426
100$23,068,890$1,279,111$0$12,158,190