Can I retire at age 63 with 847,000?

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 $847,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$69,944$69,321$68,714$68,120$67,541$67,003
2 years$34,626$33,981$33,356$32,750$32,162$31,620
3 years$22,855$22,207$21,584$20,983$20,405$19,875
4 years$16,970$16,325$15,707$15,117$14,553$14,040
5 years$13,440$12,799$12,190$11,612$11,063$10,568
6 years$11,088$10,451$9,851$9,286$8,754$8,277
7 years$9,408$8,777$8,186$7,634$7,119$6,662
8 years$8,149$7,523$6,943$6,404$5,906$5,467
9 years$7,170$6,550$5,980$5,455$4,974$4,554
10 years$6,388$5,774$5,213$4,702$4,238$3,837
11 years$5,748$5,140$4,590$4,092$3,645$3,262
12 years$5,215$4,613$4,073$3,590$3,158$2,793
13 years$4,765$4,169$3,639$3,169$2,754$2,407
14 years$4,379$3,790$3,270$2,813$2,414$2,084
15 years$4,045$3,462$2,952$2,509$2,126$1,812
16 years$3,753$3,176$2,677$2,246$1,879$1,581
17 years$3,495$2,925$2,436$2,018$1,666$1,384
18 years$3,267$2,703$2,223$1,819$1,481$1,214
19 years$3,062$2,505$2,035$1,644$1,320$1,068
20 years$2,879$2,328$1,868$1,489$1,179$941
21 years$2,713$2,168$1,718$1,351$1,055$830
22 years$2,562$2,024$1,584$1,228$946$734
23 years$2,425$1,893$1,462$1,119$849$649
24 years$2,299$1,774$1,352$1,020$763$575
25 years$2,184$1,665$1,252$932$687$510
26 years$2,077$1,564$1,162$852$619$453
27 years$1,979$1,472$1,079$780$558$402
28 years$1,888$1,387$1,003$715$503$358
29 years$1,803$1,309$933$655$454$318
30 years$1,724$1,236$869$601$411$283
31 years$1,650$1,168$810$552$371$252
32 years$1,581$1,106$756$508$336$224
33 years$1,517$1,047$706$467$304$200
34 years$1,456$992$660$429$275$178
35 years$1,399$941$617$395$249$159
36 years$1,345$893$577$364$226$142
37 years$1,294$848$540$335$205$126
38 years$1,246$806$506$309$186$113
39 years$1,201$767$474$285$168$101
40 years$1,158$730$444$263$153$90
41 years$1,117$694$416$243$138$80
42 years$1,078$661$391$224$126$72
43 years$1,041$630$366$207$114$64
44 years$1,006$601$344$191$103$57
45 years$973$573$323$176$94$51
46 years$941$546$303$163$85$45
47 years$911$521$285$150$77$41
48 years$881$498$268$139$70$36
49 years$854$475$252$128$64$32
50 years$827$454$237$119$58$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $847,000, adding $3,070 every year, while hoping to spend $57,815 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: 88/7/5 Blend
62$847,000$847,000$847,000$847,000
63$936,561$891,670$878,541$1,018,813
64$970,575$873,847$846,458$1,054,968
65$1,006,121$853,213$811,362$1,086,294
66$1,043,295$829,569$773,091$1,118,819
67$1,082,198$802,705$731,477$1,152,618
68$1,122,942$772,398$686,342$1,187,775
69$1,165,649$738,412$637,501$1,224,379
70$1,210,450$700,499$584,761$1,262,530
71$1,257,486$658,393$527,921$1,302,336
72$1,306,912$611,817$466,769$1,343,916
73$1,358,896$560,475$401,084$1,387,399
74$1,413,621$504,056$330,638$1,432,929
75$1,471,285$442,230$255,190$1,480,661
76$1,532,106$374,649$174,488$1,530,769
77$1,596,319$300,945$88,272$1,583,440
78$1,664,182$220,730$0$1,638,881
79$1,735,975$133,592$0$1,697,520
80$1,812,006$39,100$0$1,764,446
81$1,892,610$0$0$1,835,238
82$1,978,152$0$0$1,915,082
83$2,069,033$0$0$2,003,112
84$2,165,691$0$0$2,096,741
85$2,268,605$0$0$2,196,434
86$2,378,299$0$0$2,302,699
87$2,495,349$0$0$2,416,093
88$2,620,383$0$0$2,537,227
89$2,754,092$0$0$2,666,769
90$2,897,231$0$0$2,805,453
91$3,050,631$0$0$2,954,083
92$3,215,201$0$0$3,113,541
93$3,391,940$0$0$3,284,795
94$3,581,942$0$0$3,468,907
95$3,786,412$0$0$3,667,045
96$4,006,669$0$0$3,880,489
97$4,244,165$0$0$4,110,645
98$4,500,493$0$0$4,359,059
99$4,777,405$0$0$4,627,428
100$5,076,824$0$0$4,917,620