Can I retire at age 63 with 893,000?

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 $893,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$73,743$73,086$72,445$71,820$71,209$68,957
2 years$36,506$35,827$35,168$34,529$33,909$31,661
3 years$24,096$23,413$22,756$22,123$21,513$19,339
4 years$17,892$17,211$16,560$15,938$15,343$13,260
5 years$14,170$13,494$12,852$12,242$11,664$9,677
6 years$11,690$11,019$10,386$9,790$9,229$7,340
7 years$9,919$9,253$8,631$8,049$7,506$5,715
8 years$8,592$7,932$7,320$6,752$6,227$4,532
9 years$7,560$6,906$6,304$5,751$5,244$3,644
10 years$6,735$6,087$5,496$4,958$4,468$2,961
11 years$6,060$5,419$4,839$4,315$3,843$2,425
12 years$5,498$4,864$4,294$3,785$3,330$1,999
13 years$5,023$4,396$3,837$3,341$2,904$1,656
14 years$4,616$3,996$3,447$2,966$2,545$1,378
15 years$4,264$3,650$3,112$2,645$2,241$1,150
16 years$3,956$3,349$2,822$2,368$1,981$963
17 years$3,685$3,084$2,568$2,128$1,756$808
18 years$3,444$2,850$2,344$1,918$1,562$679
19 years$3,229$2,641$2,146$1,733$1,392$571
20 years$3,035$2,454$1,969$1,569$1,243$482
21 years$2,860$2,286$1,811$1,424$1,113$407
22 years$2,701$2,134$1,670$1,295$997$343
23 years$2,557$1,996$1,542$1,179$895$290
24 years$2,424$1,870$1,426$1,076$805$246
25 years$2,302$1,755$1,320$982$724$208
26 years$2,190$1,649$1,225$898$652$176
27 years$2,086$1,552$1,137$822$588$149
28 years$1,990$1,463$1,057$753$531$126
29 years$1,901$1,380$984$691$479$107
30 years$1,818$1,303$916$634$433$91
31 years$1,740$1,232$854$582$391$77
32 years$1,667$1,166$797$535$354$65
33 years$1,599$1,104$744$492$320$55
34 years$1,535$1,046$695$453$290$47
35 years$1,475$992$650$417$263$40
36 years$1,418$942$608$384$238$34
37 years$1,365$895$569$354$216$29
38 years$1,314$850$533$326$196$24
39 years$1,266$808$499$301$177$21
40 years$1,221$769$468$277$161$18
41 years$1,178$732$439$256$146$15
42 years$1,137$697$412$236$132$13
43 years$1,098$664$386$218$120$11
44 years$1,061$633$363$201$109$9
45 years$1,026$604$341$186$99$8
46 years$992$576$320$172$90$7
47 years$960$550$300$159$82$6
48 years$929$525$282$147$74$5
49 years$900$501$265$135$67$4
50 years$872$479$250$125$61$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $893,000, adding $6,015 every year, while hoping to spend $22,224 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: 78/6/16 Blend
62$893,000$893,000$893,000$893,000
63$990,290$942,961$929,120$1,063,658
64$1,067,654$965,520$936,599$1,135,436
65$1,152,164$988,440$943,584$1,210,740
66$1,244,525$1,011,714$950,035$1,292,729
67$1,345,515$1,035,336$955,909$1,382,064
68$1,455,988$1,059,298$961,163$1,479,471
69$1,576,886$1,083,591$965,749$1,585,752
70$1,709,246$1,108,205$969,620$1,701,789
71$1,854,210$1,133,128$972,722$1,828,554
72$2,013,034$1,158,346$975,004$1,967,119
73$2,187,104$1,183,845$976,407$2,118,663
74$2,377,944$1,209,609$976,872$2,284,487
75$2,587,234$1,235,620$976,337$2,466,022
76$2,816,825$1,261,858$974,737$2,664,848
77$3,068,752$1,288,300$972,002$2,882,702
78$3,345,262$1,314,924$968,061$3,121,500
79$3,648,826$1,341,702$962,838$3,383,354
80$3,982,167$1,368,607$956,254$3,670,590
81$4,348,285$1,395,606$948,226$3,985,770
82$4,750,486$1,422,666$938,667$4,331,719
83$5,192,409$1,449,751$927,486$4,711,549
84$5,678,066$1,476,820$914,588$5,128,689
85$6,211,875$1,503,830$899,873$5,586,918
86$6,798,704$1,530,735$883,236$6,090,401
87$7,443,915$1,557,485$864,569$6,643,725
88$8,153,419$1,584,025$843,755$7,251,948
89$8,933,723$1,610,298$820,677$7,920,641
90$9,792,001$1,636,241$795,208$8,655,946
91$10,736,156$1,661,787$767,218$9,464,630
92$11,774,893$1,686,864$736,569$10,354,148
93$12,917,806$1,711,395$703,118$11,332,719
94$14,175,466$1,735,297$666,716$12,409,399
95$15,559,518$1,758,481$627,206$13,594,166
96$17,082,795$1,780,853$584,424$14,898,019
97$18,759,437$1,802,312$538,199$16,333,077
98$20,605,024$1,822,749$488,353$17,912,696
99$22,636,723$1,842,050$434,699$19,651,593
100$24,873,449$1,860,091$377,042$21,565,989