Can I retire at age 63 with 888,000?

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 $888,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.2%
1 years$73,330$72,677$72,040$71,418$70,810$69,015
2 years$36,302$35,626$34,971$34,335$33,719$31,922
3 years$23,961$23,282$22,628$21,999$21,393$19,650
4 years$17,792$17,115$16,468$15,849$15,258$13,582
5 years$14,091$13,418$12,780$12,174$11,599$9,996
6 years$11,625$10,957$10,328$9,735$9,178$7,649
7 years$9,864$9,202$8,582$8,004$7,464$6,009
8 years$8,544$7,887$7,279$6,714$6,192$4,811
9 years$7,517$6,867$6,269$5,719$5,215$3,906
10 years$6,697$6,053$5,466$4,930$4,443$3,205
11 years$6,026$5,389$4,812$4,291$3,821$2,652
12 years$5,467$4,837$4,270$3,763$3,311$2,210
13 years$4,995$4,371$3,815$3,322$2,888$1,851
14 years$4,591$3,973$3,428$2,949$2,531$1,557
15 years$4,240$3,630$3,095$2,630$2,229$1,314
16 years$3,934$3,330$2,806$2,355$1,970$1,113
17 years$3,664$3,067$2,553$2,116$1,746$944
18 years$3,425$2,834$2,331$1,907$1,553$803
19 years$3,211$2,626$2,134$1,723$1,384$684
20 years$3,018$2,441$1,958$1,561$1,236$584
21 years$2,844$2,273$1,801$1,416$1,106$499
22 years$2,686$2,122$1,660$1,288$992$427
23 years$2,542$1,985$1,533$1,173$890$365
24 years$2,410$1,860$1,418$1,070$800$313
25 years$2,289$1,745$1,313$977$720$268
26 years$2,178$1,640$1,218$893$649$230
27 years$2,075$1,544$1,131$818$585$197
28 years$1,979$1,454$1,051$749$528$170
29 years$1,890$1,372$978$687$476$146
30 years$1,808$1,296$911$630$430$125
31 years$1,730$1,225$850$579$389$107
32 years$1,658$1,159$793$532$352$92
33 years$1,590$1,098$740$489$319$79
34 years$1,527$1,040$691$450$288$68
35 years$1,467$987$646$414$261$59
36 years$1,410$937$605$382$237$50
37 years$1,357$890$566$352$215$43
38 years$1,307$845$530$324$195$37
39 years$1,259$804$497$299$176$32
40 years$1,214$765$465$276$160$28
41 years$1,171$728$436$254$145$24
42 years$1,131$693$409$235$132$20
43 years$1,092$661$384$217$120$18
44 years$1,055$630$361$200$108$15
45 years$1,020$600$339$185$98$13
46 years$987$573$318$171$89$11
47 years$955$547$299$158$81$10
48 years$924$522$281$146$74$8
49 years$895$498$264$135$67$7
50 years$867$476$248$124$61$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $888,000, adding $4,384 every year, while hoping to spend $45,659 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: 64/29/7 Blend
62$888,000$888,000$888,000$888,000
63$983,098$936,034$922,270$1,044,462
64$1,034,793$933,319$904,585$1,083,162
65$1,090,231$928,940$884,778$1,119,621
66$1,149,745$922,769$862,728$1,158,252
67$1,213,701$914,667$838,312$1,199,261
68$1,282,501$904,488$811,398$1,242,878
69$1,356,587$892,078$781,850$1,289,358
70$1,436,442$877,273$749,525$1,338,982
71$1,522,599$859,900$714,274$1,392,062
72$1,615,643$839,773$675,941$1,448,944
73$1,716,215$816,700$634,362$1,510,009
74$1,825,024$790,472$589,368$1,575,681
75$1,942,844$760,873$540,779$1,646,429
76$2,070,529$727,671$488,411$1,722,770
77$2,209,018$690,622$432,067$1,805,278
78$2,359,343$649,467$371,546$1,894,588
79$2,522,638$603,933$306,635$1,991,403
80$2,700,152$553,731$237,113$2,096,498
81$2,893,260$498,556$162,749$2,210,734
82$3,103,472$438,085$83,300$2,335,061
83$3,332,451$371,976$0$2,470,529
84$3,582,027$299,869$0$2,618,413
85$3,854,215$221,384$0$2,786,532
86$4,151,231$136,117$0$2,970,100
87$4,475,514$43,645$0$3,170,709
88$4,829,752$0$0$3,390,116
89$5,216,900$0$0$3,648,287
90$5,640,215$0$0$3,945,863
91$6,103,281$0$0$4,271,443
92$6,610,043$0$0$4,627,811
93$7,164,849$0$0$5,018,030
94$7,772,483$0$0$5,445,473
95$8,438,216$0$0$5,913,857
96$9,167,851$0$0$6,427,275
97$9,967,780$0$0$6,990,232
98$10,845,043$0$0$7,607,693
99$11,807,395$0$0$8,285,126
100$12,863,375$0$0$9,028,553