Can I retire at age 63 with 896,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $896,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11%
1 years$73,991$73,332$72,689$72,061$71,448$71,147
2 years$36,629$35,947$35,286$34,645$34,023$33,719
3 years$24,177$23,492$22,832$22,197$21,586$21,288
4 years$17,952$17,269$16,616$15,992$15,395$15,106
5 years$14,218$13,539$12,895$12,283$11,703$11,424
6 years$11,729$11,056$10,421$9,823$9,260$8,991
7 years$9,953$9,285$8,660$8,076$7,531$7,272
8 years$8,621$7,959$7,344$6,775$6,248$5,999
9 years$7,585$6,929$6,326$5,771$5,261$5,023
10 years$6,757$6,108$5,515$4,974$4,483$4,255
11 years$6,080$5,437$4,855$4,329$3,856$3,637
12 years$5,517$4,880$4,309$3,797$3,341$3,132
13 years$5,040$4,410$3,850$3,352$2,914$2,714
14 years$4,632$4,009$3,459$2,976$2,554$2,364
15 years$4,279$3,662$3,123$2,654$2,249$2,068
16 years$3,970$3,360$2,831$2,376$1,987$1,815
17 years$3,697$3,094$2,576$2,135$1,762$1,599
18 years$3,456$2,859$2,352$1,924$1,567$1,412
19 years$3,239$2,650$2,153$1,739$1,397$1,250
20 years$3,045$2,463$1,976$1,575$1,247$1,108
21 years$2,870$2,294$1,818$1,429$1,116$985
22 years$2,710$2,141$1,675$1,299$1,001$876
23 years$2,565$2,003$1,547$1,183$898$781
24 years$2,432$1,876$1,430$1,079$807$696
25 years$2,310$1,761$1,325$986$726$622
26 years$2,197$1,655$1,229$901$654$556
27 years$2,093$1,557$1,141$825$590$497
28 years$1,997$1,468$1,061$756$532$445
29 years$1,907$1,384$987$693$481$399
30 years$1,824$1,308$919$636$434$357
31 years$1,746$1,236$857$584$393$321
32 years$1,673$1,170$800$537$355$288
33 years$1,605$1,108$747$494$321$258
34 years$1,540$1,050$698$454$291$232
35 years$1,480$996$652$418$264$208
36 years$1,423$945$610$385$239$187
37 years$1,369$898$571$355$216$168
38 years$1,319$853$535$327$196$151
39 years$1,271$811$501$302$178$136
40 years$1,225$772$470$278$161$122
41 years$1,182$735$440$257$146$110
42 years$1,141$700$413$237$133$99
43 years$1,102$667$388$219$121$89
44 years$1,065$635$364$202$109$80
45 years$1,029$606$342$186$99$72
46 years$995$578$321$172$90$65
47 years$963$552$301$159$82$58
48 years$932$527$283$147$74$53
49 years$903$503$266$136$68$47
50 years$875$480$250$126$61$43

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $896,000, adding $2,034 every year, while hoping to spend $45,108 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: 49/42/9 Blend
62$896,000$896,000$896,000$896,000
63$989,490$942,002$928,114$1,035,506
64$1,042,423$940,166$911,211$1,065,394
65$1,099,244$936,727$892,231$1,092,907
66$1,160,301$931,561$871,054$1,121,745
67$1,225,978$924,533$847,560$1,152,046
68$1,296,694$915,502$821,620$1,183,961
69$1,372,911$904,316$793,099$1,217,662
70$1,455,138$890,817$761,857$1,253,339
71$1,543,930$874,835$727,748$1,291,205
72$1,639,901$856,192$690,617$1,331,498
73$1,743,723$834,698$650,305$1,374,483
74$1,856,137$810,152$606,644$1,420,456
75$1,977,955$782,342$559,459$1,469,745
76$2,110,072$751,042$508,567$1,522,719
77$2,253,472$716,016$453,776$1,579,785
78$2,409,236$677,010$394,887$1,641,398
79$2,578,554$633,760$331,692$1,708,064
80$2,762,735$585,982$263,972$1,780,347
81$2,963,219$533,381$191,501$1,858,871
82$3,181,591$475,640$114,040$1,944,332
83$3,419,595$412,428$31,342$2,037,502
84$3,679,151$343,394$0$2,139,238
85$3,962,369$268,166$0$2,255,959
86$4,271,576$186,351$0$2,386,823
87$4,609,332$97,537$0$2,530,016
88$4,978,453$1,286$0$2,686,867
89$5,382,042$0$0$2,858,849
90$5,823,514$0$0$3,095,131
91$6,306,630$0$0$3,354,446
92$6,835,532$0$0$3,638,436
93$7,414,779$0$0$3,949,560
94$8,049,392$0$0$4,290,529
95$8,744,903$0$0$4,664,327
96$9,507,401$0$0$5,074,243
97$10,343,596$0$0$5,523,895
98$11,260,876$0$0$6,017,272
99$12,267,378$0$0$6,558,767
100$13,372,067$0$0$7,153,218