Can I retire at age 63 with 916,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $916,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$75,642$74,969$74,311$73,670$73,043$72,220
2 years$37,447$36,749$36,073$35,418$34,782$33,954
3 years$24,717$24,016$23,342$22,693$22,067$21,259
4 years$18,353$17,654$16,987$16,349$15,739$14,957
5 years$14,535$13,841$13,183$12,557$11,964$11,211
6 years$11,991$11,302$10,653$10,042$9,467$8,743
7 years$10,175$9,492$8,853$8,256$7,699$7,006
8 years$8,813$8,136$7,508$6,926$6,387$5,724
9 years$7,755$7,084$6,467$5,899$5,379$4,745
10 years$6,908$6,244$5,638$5,085$4,583$3,978
11 years$6,216$5,559$4,963$4,426$3,942$3,365
12 years$5,640$4,989$4,405$3,882$3,416$2,868
13 years$5,153$4,509$3,936$3,427$2,979$2,458
14 years$4,735$4,098$3,536$3,042$2,611$2,117
15 years$4,374$3,744$3,193$2,713$2,299$1,831
16 years$4,058$3,435$2,895$2,429$2,032$1,589
17 years$3,780$3,164$2,634$2,183$1,802$1,383
18 years$3,533$2,923$2,404$1,967$1,602$1,206
19 years$3,312$2,709$2,201$1,777$1,428$1,055
20 years$3,113$2,518$2,020$1,610$1,275$924
21 years$2,934$2,345$1,858$1,461$1,141$811
22 years$2,771$2,189$1,713$1,328$1,023$712
23 years$2,622$2,047$1,581$1,210$918$626
24 years$2,486$1,918$1,462$1,103$825$552
25 years$2,362$1,800$1,354$1,008$743$486
26 years$2,247$1,692$1,256$921$669$429
27 years$2,140$1,592$1,166$843$603$379
28 years$2,042$1,500$1,084$773$544$334
29 years$1,950$1,415$1,009$709$491$295
30 years$1,865$1,337$940$650$444$261
31 years$1,785$1,264$876$597$401$231
32 years$1,710$1,196$818$549$363$204
33 years$1,640$1,132$763$505$329$181
34 years$1,575$1,073$713$464$298$160
35 years$1,513$1,018$667$428$270$142
36 years$1,455$966$624$394$244$126
37 years$1,400$918$584$363$221$111
38 years$1,348$872$547$334$201$99
39 years$1,299$829$512$308$182$87
40 years$1,252$789$480$284$165$77
41 years$1,208$751$450$262$150$69
42 years$1,166$715$422$242$136$61
43 years$1,126$681$396$224$123$54
44 years$1,088$650$372$206$112$48
45 years$1,052$619$349$191$102$42
46 years$1,018$591$328$176$92$38
47 years$985$564$308$163$84$33
48 years$953$538$290$150$76$30
49 years$923$514$272$139$69$26
50 years$894$491$256$128$63$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $916,000, adding $3,175 every year, while hoping to spend $29,834 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: 28/50/22 Blend
62$916,000$916,000$916,000$916,000
63$1,012,707$964,159$949,961$1,033,977
64$1,084,260$979,660$950,042$1,066,320
65$1,162,111$994,920$949,125$1,098,198
66$1,246,872$1,009,897$947,146$1,131,819
67$1,339,215$1,024,543$944,037$1,167,352
68$1,439,879$1,038,810$939,727$1,204,982
69$1,549,679$1,052,644$934,140$1,244,916
70$1,669,511$1,065,988$927,198$1,287,383
71$1,800,361$1,078,782$918,819$1,332,636
72$1,943,316$1,090,960$908,918$1,380,957
73$2,099,571$1,102,453$897,403$1,432,659
74$2,270,441$1,113,188$884,180$1,488,086
75$2,457,377$1,123,085$869,151$1,547,624
76$2,661,974$1,132,061$852,213$1,611,696
77$2,885,990$1,140,026$833,256$1,680,773
78$3,131,358$1,146,884$812,167$1,755,376
79$3,400,210$1,152,536$788,828$1,836,084
80$3,694,893$1,156,871$763,116$1,923,536
81$4,017,992$1,159,777$734,899$2,018,439
82$4,372,352$1,161,132$704,044$2,121,577
83$4,761,110$1,160,805$670,407$2,233,818
84$5,187,718$1,158,659$633,841$2,356,122
85$5,655,981$1,154,550$594,190$2,489,551
86$6,170,089$1,148,321$551,294$2,635,280
87$6,734,658$1,139,808$504,982$2,794,608
88$7,354,773$1,128,838$455,078$2,968,973
89$8,036,034$1,115,225$401,397$3,159,965
90$8,784,612$1,098,775$343,747$3,369,342
91$9,607,307$1,079,278$281,927$3,599,045
92$10,511,605$1,056,517$215,725$3,851,225
93$11,505,760$1,030,257$144,922$4,128,253
94$12,598,860$1,000,252$69,290$4,432,755
95$13,800,921$966,242$0$4,767,628
96$15,122,978$927,950$0$5,138,759
97$16,577,186$885,084$0$5,564,536
98$18,176,941$837,335$0$6,032,648
99$19,937,001$784,376$0$6,547,476
100$21,873,626$725,862$0$7,113,856