Can I retire at age 63 with 898,000?

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 $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%14.2%
1 years$74,156$73,495$72,851$72,222$71,608$70,364
2 years$36,711$36,027$35,365$34,722$34,099$32,849
3 years$24,231$23,544$22,883$22,247$21,634$20,418
4 years$17,992$17,307$16,653$16,028$15,429$14,257
5 years$14,250$13,569$12,924$12,311$11,729$10,603
6 years$11,756$11,080$10,444$9,845$9,281$8,202
7 years$9,975$9,305$8,679$8,094$7,548$6,517
8 years$8,640$7,976$7,361$6,790$6,262$5,279
9 years$7,602$6,945$6,340$5,784$5,273$4,337
10 years$6,772$6,122$5,527$4,985$4,493$3,603
11 years$6,094$5,450$4,866$4,339$3,864$3,020
12 years$5,529$4,891$4,318$3,806$3,349$2,549
13 years$5,051$4,420$3,858$3,360$2,920$2,163
14 years$4,642$4,018$3,467$2,983$2,560$1,845
15 years$4,288$3,670$3,130$2,660$2,254$1,579
16 years$3,978$3,368$2,838$2,382$1,992$1,356
17 years$3,706$3,101$2,582$2,140$1,766$1,168
18 years$3,463$2,866$2,357$1,928$1,570$1,008
19 years$3,247$2,656$2,158$1,743$1,400$872
20 years$3,052$2,468$1,980$1,578$1,250$755
21 years$2,876$2,299$1,822$1,432$1,119$655
22 years$2,716$2,146$1,679$1,302$1,003$569
23 years$2,571$2,007$1,550$1,186$900$495
24 years$2,438$1,881$1,434$1,082$809$430
25 years$2,315$1,765$1,328$988$728$375
26 years$2,202$1,659$1,231$903$656$327
27 years$2,098$1,561$1,144$827$591$285
28 years$2,001$1,471$1,063$758$534$249
29 years$1,912$1,388$989$695$482$217
30 years$1,828$1,310$921$638$435$190
31 years$1,750$1,239$859$586$394$166
32 years$1,677$1,172$802$538$356$145
33 years$1,608$1,110$748$495$322$127
34 years$1,544$1,052$699$455$292$111
35 years$1,483$998$654$419$264$97
36 years$1,426$947$612$386$239$85
37 years$1,372$900$572$356$217$74
38 years$1,322$855$536$328$197$65
39 years$1,273$813$502$302$178$57
40 years$1,228$773$471$279$162$50
41 years$1,184$736$441$257$147$43
42 years$1,143$701$414$237$133$38
43 years$1,104$668$389$219$121$33
44 years$1,067$637$365$202$110$29
45 years$1,031$607$342$187$100$25
46 years$998$579$322$173$90$22
47 years$965$553$302$159$82$20
48 years$935$528$284$147$75$17
49 years$905$504$267$136$68$15
50 years$877$481$251$126$62$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $898,000, adding $4,862 every year, while hoping to spend $41,747 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: 51/34/15 Blend
62$898,000$898,000$898,000$898,000
63$994,611$947,017$933,098$1,041,038
64$1,051,643$949,003$919,938$1,075,403
65$1,113,093$949,686$904,939$1,107,961
66$1,179,367$948,960$887,993$1,142,429
67$1,250,913$946,709$868,991$1,179,000
68$1,328,221$942,813$847,817$1,217,890
69$1,411,831$937,141$824,350$1,259,336
70$1,502,334$929,558$798,463$1,303,603
71$1,600,384$919,918$770,023$1,350,986
72$1,706,696$908,067$738,891$1,401,811
73$1,822,059$893,842$704,924$1,456,440
74$1,947,339$877,070$667,969$1,515,276
75$2,083,490$857,569$627,869$1,578,764
76$2,231,560$835,144$584,456$1,647,399
77$2,392,703$809,591$537,560$1,721,731
78$2,568,189$780,691$486,998$1,802,366
79$2,759,415$748,215$432,583$1,889,979
80$2,967,917$711,919$374,117$1,985,317
81$3,195,389$671,548$311,394$2,089,207
82$3,443,692$626,827$244,199$2,202,566
83$3,714,877$577,470$172,308$2,326,409
84$4,011,201$523,172$95,486$2,461,860
85$4,335,148$463,612$13,489$2,610,162
86$4,689,453$398,449$0$2,772,692
87$5,077,130$327,326$0$2,962,821
88$5,501,494$249,862$0$3,173,462
89$5,966,198$165,657$0$3,404,363
90$6,475,264$74,287$0$3,657,633
91$7,033,121$0$0$3,935,603
92$7,644,646$0$0$4,250,083
93$8,315,213$0$0$4,625,494
94$9,050,738$0$0$5,037,368
95$9,857,739$0$0$5,489,365
96$10,743,395$0$0$5,985,518
97$11,715,613$0$0$6,530,271
98$12,783,103$0$0$7,128,516
99$13,955,461$0$0$7,785,646
100$15,243,257$0$0$8,507,598