Can I retire at age 63 with 895,000?

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 $895,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$73,908$73,250$72,608$71,981$71,369$70,302
2 years$36,588$35,907$35,246$34,606$33,985$32,913
3 years$24,150$23,466$22,807$22,172$21,561$20,517
4 years$17,932$17,250$16,597$15,974$15,378$14,369
5 years$14,202$13,524$12,880$12,270$11,690$10,720
6 years$11,716$11,043$10,409$9,812$9,250$8,320
7 years$9,942$9,274$8,650$8,067$7,523$6,633
8 years$8,611$7,950$7,336$6,767$6,241$5,391
9 years$7,577$6,922$6,318$5,764$5,256$4,446
10 years$6,750$6,101$5,509$4,969$4,478$3,707
11 years$6,074$5,431$4,850$4,324$3,851$3,118
12 years$5,511$4,875$4,304$3,793$3,337$2,642
13 years$5,035$4,406$3,845$3,349$2,910$2,251
14 years$4,627$4,004$3,455$2,973$2,551$1,927
15 years$4,274$3,658$3,119$2,651$2,246$1,657
16 years$3,965$3,356$2,828$2,374$1,985$1,429
17 years$3,693$3,091$2,574$2,133$1,760$1,236
18 years$3,452$2,856$2,349$1,922$1,565$1,071
19 years$3,236$2,647$2,151$1,737$1,395$930
20 years$3,042$2,460$1,974$1,573$1,246$810
21 years$2,867$2,291$1,816$1,428$1,115$705
22 years$2,707$2,139$1,673$1,298$1,000$616
23 years$2,562$2,000$1,545$1,182$897$538
24 years$2,429$1,874$1,429$1,078$806$470
25 years$2,307$1,759$1,323$985$726$411
26 years$2,195$1,653$1,227$900$654$360
27 years$2,091$1,556$1,140$824$589$316
28 years$1,995$1,466$1,060$755$532$277
29 years$1,905$1,383$986$692$480$243
30 years$1,822$1,306$918$635$434$213
31 years$1,744$1,235$856$584$392$187
32 years$1,671$1,168$799$536$355$164
33 years$1,603$1,106$746$493$321$144
34 years$1,539$1,049$697$454$291$127
35 years$1,478$995$652$418$263$112
36 years$1,421$944$610$385$239$98
37 years$1,368$897$571$354$216$86
38 years$1,317$852$534$327$196$76
39 years$1,269$810$501$301$178$67
40 years$1,224$771$469$278$161$59
41 years$1,180$734$440$256$146$52
42 years$1,139$699$413$237$133$45
43 years$1,100$666$387$218$120$40
44 years$1,063$635$363$202$109$35
45 years$1,028$605$341$186$99$31
46 years$994$577$321$172$90$27
47 years$962$551$301$159$82$24
48 years$931$526$283$147$74$21
49 years$902$502$266$136$68$19
50 years$874$480$250$125$61$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $895,000, adding $4,578 every year, while hoping to spend $54,474 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: 61/18/21 Blend
62$895,000$895,000$895,000$895,000
63$991,012$943,577$929,705$1,045,754
64$1,034,136$931,853$902,890$1,071,603
65$1,079,832$917,728$873,351$1,093,385
66$1,128,306$901,027$840,939$1,115,930
67$1,179,781$881,566$805,499$1,139,318
68$1,234,504$859,148$766,868$1,163,643
69$1,292,741$833,564$724,876$1,189,008
70$1,354,787$804,595$679,346$1,215,531
71$1,420,962$772,006$630,091$1,243,343
72$1,491,618$735,553$576,917$1,272,593
73$1,567,142$694,974$519,622$1,303,447
74$1,647,955$649,992$457,994$1,336,091
75$1,734,522$600,317$391,812$1,370,734
76$1,827,350$545,640$320,845$1,407,609
77$1,926,998$485,635$244,852$1,446,978
78$2,034,078$419,957$163,581$1,489,132
79$2,149,261$348,242$76,768$1,534,399
80$2,273,286$270,106$0$1,583,141
81$2,406,963$185,143$0$1,639,322
82$2,551,181$92,923$0$1,718,426
83$2,706,920$0$0$1,803,804
84$2,875,252$0$0$1,897,476
85$3,057,359$0$0$2,018,779
86$3,254,539$0$0$2,150,180
87$3,468,220$0$0$2,292,636
88$3,699,970$0$0$2,447,202
89$3,951,516$0$0$2,615,036
90$4,224,754$0$0$2,797,413
91$4,521,774$0$0$2,995,736
92$4,844,872$0$0$3,211,546
93$5,196,575$0$0$3,446,542
94$5,579,664$0$0$3,702,590
95$5,997,198$0$0$3,981,748
96$6,452,546$0$0$4,286,277
97$6,949,414$0$0$4,618,667
98$7,491,882$0$0$4,981,659
99$8,084,441$0$0$5,378,271
100$8,732,034$0$0$5,811,825