Can I retire at age 63 with 914,000?

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 $914,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.1%
1 years$75,477$74,805$74,149$73,509$72,884$70,494
2 years$37,365$36,669$35,995$35,341$34,706$32,322
3 years$24,663$23,964$23,291$22,643$22,019$19,714
4 years$18,313$17,616$16,950$16,313$15,704$13,497
5 years$14,504$13,811$13,154$12,530$11,938$9,834
6 years$11,965$11,278$10,630$10,020$9,446$7,447
7 years$10,153$9,471$8,834$8,238$7,682$5,788
8 years$8,794$8,118$7,492$6,911$6,373$4,582
9 years$7,738$7,069$6,453$5,887$5,367$3,678
10 years$6,893$6,231$5,626$5,074$4,573$2,982
11 years$6,203$5,547$4,953$4,416$3,933$2,438
12 years$5,628$4,978$4,395$3,874$3,408$2,006
13 years$5,141$4,499$3,927$3,420$2,972$1,658
14 years$4,725$4,090$3,528$3,036$2,605$1,377
15 years$4,365$3,736$3,186$2,707$2,294$1,147
16 years$4,049$3,428$2,888$2,424$2,027$958
17 years$3,772$3,157$2,628$2,178$1,798$802
18 years$3,525$2,917$2,399$1,963$1,598$672
19 years$3,305$2,703$2,196$1,774$1,425$565
20 years$3,106$2,512$2,016$1,606$1,273$475
21 years$2,927$2,340$1,854$1,458$1,139$400
22 years$2,765$2,184$1,709$1,326$1,021$337
23 years$2,617$2,043$1,578$1,207$916$284
24 years$2,481$1,914$1,459$1,101$824$240
25 years$2,356$1,796$1,351$1,006$741$202
26 years$2,242$1,688$1,253$919$668$171
27 years$2,135$1,589$1,164$842$602$145
28 years$2,037$1,497$1,082$771$543$122
29 years$1,946$1,412$1,007$707$490$103
30 years$1,861$1,334$938$649$443$87
31 years$1,781$1,261$874$596$401$74
32 years$1,707$1,193$816$548$362$63
33 years$1,637$1,130$762$504$328$53
34 years$1,571$1,071$712$463$297$45
35 years$1,510$1,016$665$427$269$38
36 years$1,452$964$622$393$244$32
37 years$1,397$916$583$362$221$27
38 years$1,345$870$546$334$200$23
39 years$1,296$827$511$308$182$19
40 years$1,250$787$479$284$165$16
41 years$1,206$749$449$262$149$14
42 years$1,164$714$421$242$136$12
43 years$1,124$680$395$223$123$10
44 years$1,086$648$371$206$112$8
45 years$1,050$618$349$190$101$7
46 years$1,015$590$327$176$92$6
47 years$983$563$308$162$84$5
48 years$951$537$289$150$76$4
49 years$921$513$272$139$69$4
50 years$892$490$255$128$63$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $914,000, adding $6,995 every year, while hoping to spend $41,249 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: 45/33/22 Blend
62$914,000$914,000$914,000$914,000
63$1,014,443$966,001$951,834$1,053,381
64$1,074,028$969,447$939,832$1,084,941
65$1,138,308$971,679$926,045$1,114,551
66$1,207,718$972,594$910,371$1,145,824
67$1,282,737$972,083$892,700$1,178,933
68$1,363,891$970,029$872,920$1,214,075
69$1,451,757$966,310$850,913$1,251,465
70$1,546,972$960,795$826,553$1,291,346
71$1,650,233$953,343$799,713$1,333,986
72$1,762,308$943,809$770,255$1,379,686
73$1,884,044$932,036$738,039$1,428,777
74$2,016,369$917,859$702,916$1,481,631
75$2,160,307$901,102$664,731$1,538,657
76$2,316,981$881,579$623,323$1,600,314
77$2,487,630$859,093$578,521$1,667,107
78$2,673,617$833,437$530,150$1,739,602
79$2,876,440$804,389$478,024$1,818,423
80$3,097,749$771,717$421,950$1,904,263
81$3,339,361$735,173$361,727$1,997,893
82$3,603,275$694,496$297,145$2,100,166
83$3,891,693$649,409$227,983$2,212,027
84$4,207,037$599,622$154,011$2,334,525
85$4,551,975$544,824$74,991$2,468,822
86$4,929,446$484,689$0$2,616,206
87$5,342,683$418,873$0$2,780,293
88$5,795,249$347,010$0$2,979,398
89$6,291,067$268,716$0$3,197,711
90$6,834,456$183,583$0$3,437,233
91$7,430,175$91,183$0$3,700,175
92$8,083,462$0$0$3,988,976
93$8,800,091$0$0$4,309,580
94$9,586,417$0$0$4,697,806
95$10,449,443$0$0$5,124,014
96$11,396,882$0$0$5,592,026
97$12,437,230$0$0$6,106,055
98$13,579,846$0$0$6,670,739
99$14,835,041$0$0$7,291,189
100$16,214,172$0$0$7,973,037