Can I retire at age 63 with 889,000?

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 $889,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.3%
1 years$73,413$72,759$72,121$71,498$70,890$68,511
2 years$36,343$35,666$35,010$34,374$33,757$31,384
3 years$23,988$23,308$22,654$22,024$21,417$19,124
4 years$17,812$17,134$16,486$15,867$15,275$13,079
5 years$14,107$13,433$12,794$12,187$11,612$9,520
6 years$11,638$10,969$10,339$9,746$9,188$7,201
7 years$9,875$9,212$8,592$8,013$7,472$5,591
8 years$8,553$7,896$7,287$6,722$6,199$4,421
9 years$7,526$6,875$6,276$5,726$5,220$3,544
10 years$6,705$6,060$5,472$4,935$4,448$2,870
11 years$6,033$5,395$4,817$4,295$3,825$2,343
12 years$5,474$4,842$4,275$3,768$3,315$1,925
13 years$5,001$4,376$3,820$3,326$2,891$1,589
14 years$4,596$3,978$3,432$2,953$2,534$1,318
15 years$4,245$3,634$3,099$2,633$2,231$1,096
16 years$3,939$3,334$2,809$2,358$1,972$914
17 years$3,668$3,070$2,556$2,118$1,748$764
18 years$3,429$2,837$2,334$1,909$1,555$640
19 years$3,214$2,629$2,136$1,725$1,386$537
20 years$3,021$2,443$1,961$1,562$1,238$451
21 years$2,847$2,276$1,803$1,418$1,108$379
22 years$2,689$2,124$1,662$1,289$993$319
23 years$2,545$1,987$1,535$1,174$891$268
24 years$2,413$1,862$1,419$1,071$801$226
25 years$2,292$1,747$1,315$978$721$191
26 years$2,180$1,642$1,219$894$649$161
27 years$2,077$1,545$1,132$819$585$136
28 years$1,981$1,456$1,052$750$528$114
29 years$1,892$1,374$979$688$477$97
30 years$1,810$1,297$912$631$431$82
31 years$1,732$1,226$850$580$390$69
32 years$1,660$1,160$793$533$352$58
33 years$1,592$1,099$741$490$319$49
34 years$1,528$1,042$692$451$289$42
35 years$1,468$988$647$415$262$35
36 years$1,412$938$605$382$237$30
37 years$1,359$891$567$352$215$25
38 years$1,308$846$531$325$195$21
39 years$1,261$805$497$299$177$18
40 years$1,215$766$466$276$160$15
41 years$1,173$729$437$255$145$13
42 years$1,132$694$410$235$132$11
43 years$1,093$661$385$217$120$9
44 years$1,056$630$361$200$109$8
45 years$1,021$601$339$185$99$7
46 years$988$573$318$171$90$6
47 years$956$547$299$158$81$5
48 years$925$522$281$146$74$4
49 years$896$499$264$135$67$3
50 years$868$477$248$125$61$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $889,000, adding $6,078 every year, while hoping to spend $26,386 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: 75/11/14 Blend
62$889,000$889,000$889,000$889,000
63$985,947$938,830$925,051$1,056,520
64$1,058,440$956,759$927,966$1,121,899
65$1,137,442$974,681$930,094$1,189,646
66$1,223,590$992,569$931,381$1,263,177
67$1,317,584$1,010,393$931,770$1,343,058
68$1,420,195$1,028,120$931,202$1,429,913
69$1,532,271$1,045,714$929,613$1,524,431
70$1,654,746$1,063,138$926,939$1,627,370
71$1,788,649$1,080,350$923,110$1,739,564
72$1,935,110$1,097,307$918,054$1,861,935
73$2,095,378$1,113,961$911,695$1,995,496
74$2,270,823$1,130,262$903,953$2,141,364
75$2,462,959$1,146,156$894,747$2,300,770
76$2,673,448$1,161,585$883,989$2,475,071
77$2,904,124$1,176,487$871,586$2,665,761
78$3,157,005$1,190,796$857,445$2,874,487
79$3,434,315$1,204,440$841,465$3,103,064
80$3,738,503$1,217,345$823,542$3,353,493
81$4,072,265$1,229,430$803,565$3,627,977
82$4,438,572$1,240,608$781,421$3,928,946
83$4,840,698$1,250,789$756,990$4,259,076
84$5,282,246$1,259,875$730,146$4,621,318
85$5,767,187$1,267,761$700,758$5,018,922
86$6,299,897$1,274,338$668,690$5,455,472
87$6,885,193$1,279,487$633,798$5,934,917
88$7,528,385$1,283,084$595,932$6,461,607
89$8,235,320$1,284,995$554,936$7,040,339
90$9,012,443$1,285,080$510,646$7,676,399
91$9,866,851$1,283,188$462,892$8,375,611
92$10,806,366$1,279,161$411,495$9,144,396
93$11,839,604$1,272,828$356,269$9,989,828
94$12,976,059$1,264,012$297,019$10,919,706
95$14,226,190$1,252,521$233,542$11,942,623
96$15,601,521$1,238,154$165,625$13,068,049
97$17,114,750$1,220,697$93,047$14,306,424
98$18,779,867$1,199,924$15,577$15,669,250
99$20,612,288$1,175,595$0$17,169,207
100$22,628,997$1,147,455$0$18,830,288