Can I retire at age 63 with 905,000?

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 $905,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$74,734$74,068$73,419$72,785$72,166$70,364
2 years$36,997$36,308$35,640$34,993$34,365$32,561
3 years$24,420$23,728$23,062$22,420$21,802$20,053
4 years$18,132$17,442$16,783$16,152$15,550$13,868
5 years$14,361$13,675$13,024$12,407$11,821$10,211
6 years$11,847$11,167$10,526$9,922$9,353$7,818
7 years$10,053$9,378$8,747$8,157$7,607$6,146
8 years$8,707$8,038$7,418$6,843$6,310$4,923
9 years$7,661$6,999$6,389$5,829$5,314$3,999
10 years$6,825$6,169$5,570$5,024$4,528$3,284
11 years$6,141$5,492$4,904$4,373$3,894$2,719
12 years$5,572$4,929$4,352$3,835$3,375$2,267
13 years$5,091$4,455$3,888$3,386$2,943$1,900
14 years$4,678$4,049$3,494$3,006$2,580$1,599
15 years$4,322$3,699$3,154$2,681$2,271$1,351
16 years$4,009$3,394$2,860$2,400$2,007$1,145
17 years$3,734$3,126$2,602$2,157$1,780$972
18 years$3,490$2,888$2,376$1,944$1,583$828
19 years$3,272$2,677$2,175$1,756$1,411$706
20 years$3,076$2,487$1,996$1,591$1,260$603
21 years$2,899$2,317$1,836$1,443$1,128$515
22 years$2,738$2,163$1,692$1,312$1,011$441
23 years$2,591$2,023$1,562$1,195$907$378
24 years$2,457$1,895$1,445$1,090$815$324
25 years$2,333$1,779$1,338$996$734$278
26 years$2,220$1,672$1,241$910$661$239
27 years$2,114$1,573$1,152$833$596$205
28 years$2,017$1,482$1,071$763$538$176
29 years$1,927$1,398$997$700$486$151
30 years$1,842$1,321$929$643$439$130
31 years$1,763$1,248$866$590$397$112
32 years$1,690$1,181$808$542$359$96
33 years$1,621$1,119$754$499$325$83
34 years$1,556$1,060$705$459$294$71
35 years$1,495$1,006$659$422$266$61
36 years$1,437$955$616$389$241$53
37 years$1,383$907$577$358$219$45
38 years$1,332$862$540$330$198$39
39 years$1,283$819$506$305$180$34
40 years$1,237$779$474$281$163$29
41 years$1,194$742$445$259$148$25
42 years$1,152$707$417$239$134$21
43 years$1,113$673$392$221$122$18
44 years$1,075$642$368$204$111$16
45 years$1,040$612$345$188$100$14
46 years$1,005$584$324$174$91$12
47 years$973$557$305$161$83$10
48 years$942$532$286$149$75$9
49 years$912$508$269$137$68$8
50 years$884$485$253$127$62$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $905,000, adding $6,047 every year, while hoping to spend $55,121 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: 51/29/20 Blend
62$905,000$905,000$905,000$905,000
63$1,003,547$955,582$941,555$1,048,876
64$1,047,261$943,758$914,449$1,068,976
65$1,093,586$929,506$884,587$1,084,638
66$1,142,730$912,651$851,819$1,100,497
67$1,194,922$893,003$815,988$1,116,590
68$1,250,409$870,366$776,929$1,132,963
69$1,309,465$844,528$734,471$1,149,669
70$1,372,387$815,267$688,432$1,166,772
71$1,439,502$782,346$638,626$1,184,345
72$1,511,167$745,517$584,856$1,202,471
73$1,587,775$704,516$526,917$1,221,250
74$1,669,754$659,063$464,595$1,240,793
75$1,757,576$608,864$397,666$1,261,229
76$1,851,757$553,607$325,896$1,282,706
77$1,952,865$492,962$249,042$1,305,391
78$2,061,520$426,580$166,848$1,329,476
79$2,178,406$354,094$79,049$1,355,177
80$2,304,273$275,115$0$1,382,741
81$2,439,945$189,230$0$1,415,571
82$2,586,324$96,008$0$1,469,062
83$2,744,406$0$0$1,526,744
84$2,915,282$0$0$1,590,683
85$3,100,151$0$0$1,693,079
86$3,300,335$0$0$1,804,034
87$3,517,282$0$0$1,924,362
88$3,752,587$0$0$2,054,957
89$4,008,004$0$0$2,196,804
90$4,285,463$0$0$2,350,984
91$4,587,085$0$0$2,518,689
92$4,915,204$0$0$2,701,229
93$5,272,389$0$0$2,900,046
94$5,661,465$0$0$3,116,726
95$6,085,543$0$0$3,353,014
96$6,548,044$0$0$3,610,833
97$7,052,737$0$0$3,892,298
98$7,603,768$0$0$4,199,736
99$8,205,701$0$0$4,535,712
100$8,863,561$0$0$4,903,047