Can I retire at age 63 with 893,000?

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 $893,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$73,743$73,086$72,445$71,820$71,209$70,849
2 years$36,506$35,827$35,168$34,529$33,909$33,546
3 years$24,096$23,413$22,756$22,123$21,513$21,158
4 years$17,892$17,211$16,560$15,938$15,343$14,999
5 years$14,170$13,494$12,852$12,242$11,664$11,331
6 years$11,690$11,019$10,386$9,790$9,229$8,909
7 years$9,919$9,253$8,631$8,049$7,506$7,197
8 years$8,592$7,932$7,320$6,752$6,227$5,931
9 years$7,560$6,906$6,304$5,751$5,244$4,960
10 years$6,735$6,087$5,496$4,958$4,468$4,196
11 years$6,060$5,419$4,839$4,315$3,843$3,583
12 years$5,498$4,864$4,294$3,785$3,330$3,082
13 years$5,023$4,396$3,837$3,341$2,904$2,667
14 years$4,616$3,996$3,447$2,966$2,545$2,320
15 years$4,264$3,650$3,112$2,645$2,241$2,027
16 years$3,956$3,349$2,822$2,368$1,981$1,777
17 years$3,685$3,084$2,568$2,128$1,756$1,563
18 years$3,444$2,850$2,344$1,918$1,562$1,378
19 years$3,229$2,641$2,146$1,733$1,392$1,218
20 years$3,035$2,454$1,969$1,569$1,243$1,078
21 years$2,860$2,286$1,811$1,424$1,113$957
22 years$2,701$2,134$1,670$1,295$997$850
23 years$2,557$1,996$1,542$1,179$895$756
24 years$2,424$1,870$1,426$1,076$805$674
25 years$2,302$1,755$1,320$982$724$601
26 years$2,190$1,649$1,225$898$652$536
27 years$2,086$1,552$1,137$822$588$479
28 years$1,990$1,463$1,057$753$531$428
29 years$1,901$1,380$984$691$479$383
30 years$1,818$1,303$916$634$433$343
31 years$1,740$1,232$854$582$391$307
32 years$1,667$1,166$797$535$354$275
33 years$1,599$1,104$744$492$320$246
34 years$1,535$1,046$695$453$290$221
35 years$1,475$992$650$417$263$198
36 years$1,418$942$608$384$238$178
37 years$1,365$895$569$354$216$159
38 years$1,314$850$533$326$196$143
39 years$1,266$808$499$301$177$128
40 years$1,221$769$468$277$161$115
41 years$1,178$732$439$256$146$103
42 years$1,137$697$412$236$132$93
43 years$1,098$664$386$218$120$83
44 years$1,061$633$363$201$109$75
45 years$1,026$604$341$186$99$67
46 years$992$576$320$172$90$61
47 years$960$550$300$159$82$54
48 years$929$525$282$147$74$49
49 years$900$501$265$135$67$44
50 years$872$479$250$125$61$39

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $893,000, adding $3,798 every year, while hoping to spend $55,771 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: 30/43/27 Blend
62$893,000$893,000$893,000$893,000
63$988,004$940,675$926,833$1,009,334
64$1,029,440$927,428$898,542$1,013,004
65$1,073,234$911,663$867,434$1,011,804
66$1,119,567$893,197$833,356$1,009,400
67$1,168,636$871,838$796,147$1,005,726
68$1,220,660$847,380$755,641$1,000,714
69$1,275,873$819,608$711,661$994,297
70$1,334,536$788,293$664,026$986,405
71$1,396,931$753,191$612,543$976,971
72$1,463,368$714,047$557,012$965,924
73$1,534,185$670,590$497,227$953,196
74$1,609,755$622,532$432,967$938,720
75$1,690,485$569,570$364,005$922,432
76$1,776,819$511,384$290,105$904,266
77$1,869,248$447,635$211,016$884,163
78$1,968,307$377,964$126,481$862,066
79$2,074,584$301,995$36,228$837,924
80$2,188,725$219,326$0$811,692
81$2,311,439$129,537$0$800,642
82$2,443,502$32,181$0$799,696
83$2,585,769$0$0$798,476
84$2,739,178$0$0$831,711
85$2,904,759$0$0$884,125
86$3,083,643$0$0$940,865
87$3,277,076$0$0$1,002,338
88$3,486,425$0$0$1,068,995
89$3,713,192$0$0$1,141,331
90$3,959,031$0$0$1,219,888
91$4,225,759$0$0$1,305,266
92$4,515,375$0$0$1,398,122
93$4,830,077$0$0$1,499,181
94$5,172,284$0$0$1,609,238
95$5,544,656$0$0$1,729,172
96$5,950,122$0$0$1,859,947
97$6,391,902$0$0$2,002,623
98$6,873,542$0$0$2,158,372
99$7,398,945$0$0$2,328,478
100$7,972,403$0$0$2,514,359