Can I retire at age 63 with 898,000?

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 $898,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$74,156$73,495$72,851$72,222$71,608$69,232
2 years$36,711$36,027$35,365$34,722$34,099$31,729
3 years$24,231$23,544$22,883$22,247$21,634$19,343
4 years$17,992$17,307$16,653$16,028$15,429$13,236
5 years$14,250$13,569$12,924$12,311$11,729$9,639
6 years$11,756$11,080$10,444$9,845$9,281$7,296
7 years$9,975$9,305$8,679$8,094$7,548$5,667
8 years$8,640$7,976$7,361$6,790$6,262$4,484
9 years$7,602$6,945$6,340$5,784$5,273$3,596
10 years$6,772$6,122$5,527$4,985$4,493$2,915
11 years$6,094$5,450$4,866$4,339$3,864$2,381
12 years$5,529$4,891$4,318$3,806$3,349$1,957
13 years$5,051$4,420$3,858$3,360$2,920$1,617
14 years$4,642$4,018$3,467$2,983$2,560$1,342
15 years$4,288$3,670$3,130$2,660$2,254$1,117
16 years$3,978$3,368$2,838$2,382$1,992$932
17 years$3,706$3,101$2,582$2,140$1,766$780
18 years$3,463$2,866$2,357$1,928$1,570$653
19 years$3,247$2,656$2,158$1,743$1,400$548
20 years$3,052$2,468$1,980$1,578$1,250$461
21 years$2,876$2,299$1,822$1,432$1,119$388
22 years$2,716$2,146$1,679$1,302$1,003$327
23 years$2,571$2,007$1,550$1,186$900$275
24 years$2,438$1,881$1,434$1,082$809$232
25 years$2,315$1,765$1,328$988$728$196
26 years$2,202$1,659$1,231$903$656$165
27 years$2,098$1,561$1,144$827$591$139
28 years$2,001$1,471$1,063$758$534$118
29 years$1,912$1,388$989$695$482$100
30 years$1,828$1,310$921$638$435$84
31 years$1,750$1,239$859$586$394$71
32 years$1,677$1,172$802$538$356$60
33 years$1,608$1,110$748$495$322$51
34 years$1,544$1,052$699$455$292$43
35 years$1,483$998$654$419$264$36
36 years$1,426$947$612$386$239$31
37 years$1,372$900$572$356$217$26
38 years$1,322$855$536$328$197$22
39 years$1,273$813$502$302$178$19
40 years$1,228$773$471$279$162$16
41 years$1,184$736$441$257$147$13
42 years$1,143$701$414$237$133$11
43 years$1,104$668$389$219$121$10
44 years$1,067$637$365$202$110$8
45 years$1,031$607$342$187$100$7
46 years$998$579$322$173$90$6
47 years$965$553$302$159$82$5
48 years$935$528$284$147$75$4
49 years$905$504$267$136$68$3
50 years$877$481$251$126$62$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $898,000, adding $6,270 every year, while hoping to spend $57,248 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: 66/14/20 Blend
62$898,000$898,000$898,000$898,000
63$996,064$948,470$934,551$1,056,398
64$1,036,751$934,033$904,947$1,083,200
65$1,079,669$916,971$872,432$1,105,345
66$1,124,986$897,093$836,849$1,128,190
67$1,172,884$874,200$798,033$1,151,807
68$1,223,561$848,079$755,810$1,176,273
69$1,277,236$818,506$710,001$1,201,675
70$1,334,145$785,243$660,417$1,228,113
71$1,394,547$748,040$606,861$1,255,698
72$1,458,726$706,630$549,126$1,284,555
73$1,526,993$660,731$486,999$1,314,823
74$1,599,687$610,047$420,253$1,346,660
75$1,677,178$554,263$348,656$1,380,241
76$1,759,876$493,047$271,960$1,415,764
77$1,848,224$426,048$189,912$1,453,447
78$1,942,713$352,894$102,244$1,493,539
79$2,043,877$273,193$8,677$1,536,312
80$2,152,305$186,532$0$1,582,074
81$2,268,641$92,473$0$1,650,624
82$2,393,592$0$0$1,726,127
83$2,527,936$0$0$1,808,677
84$2,672,523$0$0$1,912,895
85$2,828,291$0$0$2,025,216
86$2,996,267$0$0$2,146,385
87$3,177,581$0$0$2,277,222
88$3,373,473$0$0$2,418,631
89$3,585,307$0$0$2,571,600
90$3,814,581$0$0$2,737,221
91$4,062,945$0$0$2,916,688
92$4,332,208$0$0$3,111,320
93$4,624,364$0$0$3,322,564
94$4,941,604$0$0$3,552,013
95$5,286,337$0$0$3,801,418
96$5,661,214$0$0$4,072,705
97$6,069,152$0$0$4,367,995
98$6,513,361$0$0$4,689,621
99$6,997,372$0$0$5,040,150
100$7,525,070$0$0$5,422,406