Can I retire at age 63 with 894,000?

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 $894,000?

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$73,826$73,168$72,527$71,900$71,289$70,456
2 years$36,547$35,867$35,207$34,567$33,947$33,109
3 years$24,123$23,439$22,781$22,148$21,537$20,720
4 years$17,912$17,230$16,579$15,956$15,361$14,570
5 years$14,186$13,509$12,866$12,256$11,677$10,916
6 years$11,703$11,031$10,398$9,801$9,240$8,508
7 years$9,930$9,264$8,640$8,058$7,514$6,813
8 years$8,601$7,941$7,328$6,760$6,234$5,563
9 years$7,568$6,914$6,311$5,758$5,250$4,609
10 years$6,742$6,094$5,502$4,963$4,473$3,862
11 years$6,067$5,425$4,844$4,320$3,847$3,265
12 years$5,504$4,869$4,299$3,789$3,334$2,781
13 years$5,029$4,401$3,841$3,345$2,907$2,382
14 years$4,622$4,000$3,451$2,969$2,548$2,050
15 years$4,269$3,654$3,116$2,648$2,244$1,772
16 years$3,961$3,353$2,825$2,371$1,983$1,536
17 years$3,689$3,088$2,571$2,130$1,758$1,336
18 years$3,448$2,853$2,347$1,920$1,563$1,165
19 years$3,232$2,644$2,148$1,735$1,393$1,018
20 years$3,038$2,457$1,972$1,571$1,245$891
21 years$2,863$2,289$1,813$1,426$1,114$781
22 years$2,704$2,136$1,671$1,297$998$686
23 years$2,559$1,998$1,543$1,181$896$603
24 years$2,427$1,872$1,427$1,077$806$530
25 years$2,305$1,757$1,322$984$725$467
26 years$2,193$1,651$1,226$899$653$412
27 years$2,089$1,554$1,138$823$589$363
28 years$1,993$1,464$1,058$754$531$320
29 years$1,903$1,381$985$692$480$283
30 years$1,820$1,305$917$635$433$250
31 years$1,742$1,233$855$583$392$221
32 years$1,669$1,167$798$536$354$195
33 years$1,601$1,105$745$493$321$173
34 years$1,537$1,047$696$453$290$153
35 years$1,477$993$651$417$263$135
36 years$1,420$943$609$384$238$120
37 years$1,366$896$570$354$216$106
38 years$1,316$851$534$326$196$94
39 years$1,268$809$500$301$178$83
40 years$1,222$770$469$278$161$74
41 years$1,179$733$439$256$146$65
42 years$1,138$698$412$236$133$58
43 years$1,099$665$387$218$120$51
44 years$1,062$634$363$201$109$45
45 years$1,027$605$341$186$99$40
46 years$993$577$320$172$90$36
47 years$961$550$301$159$82$31
48 years$930$525$283$147$74$28
49 years$901$502$266$136$67$25
50 years$873$479$250$125$61$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $894,000, adding $2,690 every year, while hoping to spend $31,589 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: 63/24/13 Blend
62$894,000$894,000$894,000$894,000
63$987,963$940,581$926,724$1,046,991
64$1,055,124$953,059$924,159$1,099,340
65$1,128,078$965,089$920,449$1,152,604
66$1,207,381$976,618$915,522$1,209,989
67$1,293,646$987,584$909,305$1,271,895
68$1,387,548$997,926$901,717$1,338,765
69$1,489,830$1,007,576$892,676$1,411,086
70$1,601,308$1,016,463$882,096$1,489,396
71$1,722,881$1,024,510$869,886$1,574,288
72$1,855,540$1,031,635$855,952$1,666,415
73$2,000,373$1,037,753$840,194$1,766,499
74$2,158,579$1,042,771$822,509$1,875,335
75$2,331,478$1,046,592$802,788$1,993,800
76$2,520,525$1,049,110$780,917$2,122,863
77$2,727,317$1,050,216$756,777$2,263,589
78$2,953,618$1,049,791$730,243$2,417,157
79$3,201,368$1,047,711$701,187$2,584,863
80$3,472,702$1,043,844$669,471$2,768,140
81$3,769,973$1,038,047$634,954$2,968,567
82$4,095,772$1,030,174$597,487$3,187,884
83$4,452,953$1,020,064$556,914$3,428,012
84$4,844,657$1,007,550$513,074$3,691,069
85$5,274,346$992,454$465,796$3,979,391
86$5,745,833$974,588$414,904$4,295,554
87$6,263,317$953,752$360,212$4,642,397
88$6,831,424$929,734$301,528$5,023,053
89$7,455,249$902,311$238,649$5,440,977
90$8,140,405$871,245$171,365$5,899,977
91$8,893,076$836,286$99,455$6,404,254
92$9,720,074$797,167$22,690$6,958,440
93$10,628,902$753,609$0$7,567,641
94$11,627,828$705,314$0$8,245,705
95$12,725,960$651,968$0$8,994,519
96$13,933,332$593,239$0$9,817,815
97$15,261,001$528,776$0$10,723,178
98$16,721,145$458,208$0$11,718,973
99$18,327,184$381,143$0$12,814,416
100$20,093,905$297,167$0$14,019,669