Can I retire at age 63 with 920,000?

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 $920,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.2%
1 years$75,973$75,296$74,636$73,991$73,362$71,213
2 years$37,610$36,910$36,231$35,573$34,934$32,787
3 years$24,824$24,121$23,444$22,792$22,164$20,085
4 years$18,433$17,731$17,061$16,420$15,807$13,813
5 years$14,599$13,902$13,240$12,612$12,017$10,112
6 years$12,044$11,352$10,700$10,086$9,508$7,696
7 years$10,219$9,533$8,892$8,292$7,733$6,012
8 years$8,852$8,172$7,541$6,956$6,415$4,785
9 years$7,788$7,115$6,495$5,925$5,402$3,861
10 years$6,938$6,271$5,662$5,108$4,603$3,149
11 years$6,243$5,583$4,985$4,445$3,959$2,589
12 years$5,664$5,011$4,424$3,899$3,431$2,143
13 years$5,175$4,529$3,953$3,442$2,992$1,783
14 years$4,756$4,116$3,552$3,056$2,622$1,489
15 years$4,393$3,760$3,207$2,725$2,309$1,248
16 years$4,076$3,450$2,907$2,440$2,041$1,049
17 years$3,796$3,177$2,645$2,192$1,809$884
18 years$3,548$2,936$2,415$1,976$1,609$747
19 years$3,326$2,721$2,211$1,785$1,434$631
20 years$3,127$2,529$2,029$1,617$1,281$535
21 years$2,947$2,355$1,866$1,467$1,146$453
22 years$2,783$2,199$1,720$1,334$1,027$385
23 years$2,634$2,056$1,588$1,215$922$327
24 years$2,497$1,927$1,469$1,108$829$278
25 years$2,372$1,808$1,360$1,012$746$236
26 years$2,256$1,699$1,262$925$672$201
27 years$2,150$1,599$1,172$847$606$171
28 years$2,050$1,507$1,089$776$547$146
29 years$1,958$1,422$1,014$712$494$124
30 years$1,873$1,343$944$653$446$106
31 years$1,793$1,269$880$600$403$90
32 years$1,718$1,201$821$551$365$77
33 years$1,648$1,137$767$507$330$65
34 years$1,582$1,078$716$466$299$56
35 years$1,520$1,022$670$429$271$48
36 years$1,461$970$627$395$245$41
37 years$1,406$922$586$364$222$35
38 years$1,354$876$549$336$202$30
39 years$1,305$833$515$310$183$25
40 years$1,258$792$482$286$166$21
41 years$1,213$754$452$264$150$18
42 years$1,171$718$424$243$136$16
43 years$1,131$684$398$224$124$13
44 years$1,093$652$374$207$112$11
45 years$1,057$622$351$191$102$10
46 years$1,022$593$330$177$93$8
47 years$989$566$310$163$84$7
48 years$957$541$291$151$76$6
49 years$927$516$273$140$69$5
50 years$898$493$257$129$63$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $920,000, adding $5,131 every year, while hoping to spend $43,135 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: 63/16/21 Blend
62$920,000$920,000$920,000$920,000
63$1,019,133$970,373$956,113$1,077,501
64$1,077,189$972,026$942,247$1,119,126
65$1,139,721$972,314$926,471$1,159,279
66$1,207,140$971,125$908,676$1,202,142
67$1,279,898$968,340$888,746$1,247,983
68$1,358,491$963,831$866,562$1,297,101
69$1,443,463$957,465$841,998$1,349,824
70$1,535,414$949,099$814,923$1,406,515
71$1,635,003$938,581$785,199$1,467,577
72$1,742,954$925,752$752,684$1,533,455
73$1,860,063$910,442$717,227$1,604,640
74$1,987,206$892,470$678,670$1,681,677
75$2,125,345$871,646$636,850$1,765,167
76$2,275,542$847,768$591,596$1,855,774
77$2,438,962$820,622$542,729$1,954,233
78$2,616,886$789,983$490,061$2,061,357
79$2,810,727$755,611$433,396$2,178,043
80$3,022,038$717,253$372,532$2,305,281
81$3,252,528$674,640$307,254$2,444,170
82$3,504,078$627,490$237,339$2,595,917
83$3,778,760$575,503$162,556$2,761,862
84$4,078,853$518,363$82,662$2,943,481
85$4,406,868$455,734$0$3,142,405
86$4,765,568$387,264$0$3,361,020
87$5,157,994$312,579$0$3,620,536
88$5,587,498$231,283$0$3,904,672
89$6,057,768$142,961$0$4,215,918
90$6,572,866$47,172$0$4,557,020
91$7,137,266$0$0$4,931,005
92$7,755,895$0$0$5,351,168
93$8,434,179$0$0$5,821,020
94$9,178,094$0$0$6,336,404
95$9,994,223$0$0$6,901,889
96$10,889,815$0$0$7,522,507
97$11,872,858$0$0$8,203,802
98$12,952,148$0$0$8,951,880
99$14,137,376$0$0$9,773,468
100$15,439,217$0$0$10,675,975