Can I retire at age 63 with 897,000?

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 $897,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$74,073$73,414$72,770$72,142$71,528$70,401
2 years$36,670$35,987$35,325$34,683$34,061$32,928
3 years$24,204$23,518$22,858$22,222$21,610$20,507
4 years$17,972$17,288$16,635$16,010$15,412$14,348
5 years$14,234$13,554$12,909$12,297$11,716$10,693
6 years$11,743$11,068$10,432$9,834$9,271$8,290
7 years$9,964$9,295$8,669$8,085$7,539$6,601
8 years$8,630$7,967$7,352$6,782$6,255$5,359
9 years$7,594$6,937$6,333$5,777$5,267$4,414
10 years$6,765$6,115$5,521$4,980$4,488$3,676
11 years$6,087$5,444$4,861$4,334$3,860$3,089
12 years$5,523$4,886$4,314$3,802$3,345$2,613
13 years$5,046$4,415$3,854$3,356$2,917$2,224
14 years$4,637$4,013$3,463$2,979$2,557$1,902
15 years$4,283$3,666$3,126$2,657$2,251$1,632
16 years$3,974$3,364$2,835$2,379$1,990$1,406
17 years$3,701$3,098$2,579$2,138$1,764$1,214
18 years$3,459$2,863$2,355$1,926$1,569$1,051
19 years$3,243$2,653$2,156$1,741$1,398$911
20 years$3,049$2,465$1,978$1,576$1,249$792
21 years$2,873$2,296$1,820$1,431$1,118$689
22 years$2,713$2,144$1,677$1,301$1,002$600
23 years$2,568$2,005$1,548$1,185$899$524
24 years$2,435$1,878$1,432$1,081$808$457
25 years$2,313$1,763$1,326$987$727$399
26 years$2,200$1,657$1,230$902$655$349
27 years$2,096$1,559$1,142$826$591$306
28 years$1,999$1,469$1,062$757$533$267
29 years$1,909$1,386$988$694$481$234
30 years$1,826$1,309$920$637$435$205
31 years$1,748$1,237$858$585$393$180
32 years$1,675$1,171$801$538$356$158
33 years$1,606$1,109$748$494$322$138
34 years$1,542$1,051$698$455$291$121
35 years$1,482$997$653$419$264$106
36 years$1,425$946$611$386$239$93
37 years$1,371$899$572$355$217$82
38 years$1,320$854$535$327$196$72
39 years$1,272$812$502$302$178$63
40 years$1,226$773$470$278$162$55
41 years$1,183$735$441$257$147$49
42 years$1,142$700$414$237$133$43
43 years$1,103$667$388$219$121$38
44 years$1,066$636$364$202$110$33
45 years$1,030$607$342$187$99$29
46 years$997$579$321$172$90$25
47 years$964$552$302$159$82$22
48 years$933$527$284$147$74$20
49 years$904$503$267$136$68$17
50 years$876$481$251$126$61$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $897,000, adding $5,832 every year, while hoping to spend $41,705 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: 40/49/11 Blend
62$897,000$897,000$897,000$897,000
63$994,510$946,969$933,065$1,030,795
64$1,051,576$948,996$919,949$1,058,952
65$1,113,065$949,726$904,996$1,084,827
66$1,179,384$949,049$888,100$1,111,891
67$1,250,981$946,852$869,151$1,140,269
68$1,328,346$943,013$848,032$1,170,102
69$1,412,021$937,403$824,624$1,201,550
70$1,502,597$929,887$798,800$1,234,789
71$1,600,729$920,318$770,427$1,270,017
72$1,707,134$908,544$739,367$1,307,456
73$1,822,601$894,402$705,474$1,347,354
74$1,947,997$877,719$668,599$1,389,988
75$2,084,278$858,312$628,582$1,435,666
76$2,232,493$835,988$585,259$1,484,734
77$2,393,799$810,543$538,456$1,537,577
78$2,569,466$781,759$487,993$1,594,622
79$2,760,892$749,406$433,682$1,656,347
80$2,969,619$713,243$375,326$1,723,283
81$3,197,340$673,011$312,720$1,796,023
82$3,445,920$628,440$245,647$1,875,224
83$3,717,413$579,243$173,885$1,961,619
84$4,014,078$525,115$97,200$2,056,022
85$4,338,404$465,736$15,346$2,159,336
86$4,693,131$400,766$0$2,272,565
87$5,081,274$329,847$0$2,405,278
88$5,506,155$252,600$0$2,552,731
89$5,971,431$168,627$0$2,714,528
90$6,481,131$77,503$0$2,892,228
91$7,039,689$0$0$3,087,557
92$7,651,991$0$0$3,313,864
93$8,323,417$0$0$3,607,966
94$9,059,892$0$0$3,930,683
95$9,867,944$0$0$4,284,890
96$10,754,761$0$0$4,673,755
97$11,728,262$0$0$5,100,766
98$12,797,171$0$0$5,569,765
99$13,971,096$0$0$6,084,988
100$15,260,623$0$0$6,651,097