Can I retire at age 63 with 916,000?

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 $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%17.2%
1 years$75,642$74,969$74,311$73,670$73,043$70,904
2 years$37,447$36,749$36,073$35,418$34,782$32,645
3 years$24,717$24,016$23,342$22,693$22,067$19,998
4 years$18,353$17,654$16,987$16,349$15,739$13,753
5 years$14,535$13,841$13,183$12,557$11,964$10,068
6 years$11,991$11,302$10,653$10,042$9,467$7,662
7 years$10,175$9,492$8,853$8,256$7,699$5,986
8 years$8,813$8,136$7,508$6,926$6,387$4,764
9 years$7,755$7,084$6,467$5,899$5,379$3,845
10 years$6,908$6,244$5,638$5,085$4,583$3,135
11 years$6,216$5,559$4,963$4,426$3,942$2,578
12 years$5,640$4,989$4,405$3,882$3,416$2,133
13 years$5,153$4,509$3,936$3,427$2,979$1,775
14 years$4,735$4,098$3,536$3,042$2,611$1,483
15 years$4,374$3,744$3,193$2,713$2,299$1,243
16 years$4,058$3,435$2,895$2,429$2,032$1,045
17 years$3,780$3,164$2,634$2,183$1,802$880
18 years$3,533$2,923$2,404$1,967$1,602$743
19 years$3,312$2,709$2,201$1,777$1,428$629
20 years$3,113$2,518$2,020$1,610$1,275$532
21 years$2,934$2,345$1,858$1,461$1,141$451
22 years$2,771$2,189$1,713$1,328$1,023$383
23 years$2,622$2,047$1,581$1,210$918$325
24 years$2,486$1,918$1,462$1,103$825$276
25 years$2,362$1,800$1,354$1,008$743$235
26 years$2,247$1,692$1,256$921$669$200
27 years$2,140$1,592$1,166$843$603$170
28 years$2,042$1,500$1,084$773$544$145
29 years$1,950$1,415$1,009$709$491$124
30 years$1,865$1,337$940$650$444$105
31 years$1,785$1,264$876$597$401$90
32 years$1,710$1,196$818$549$363$76
33 years$1,640$1,132$763$505$329$65
34 years$1,575$1,073$713$464$298$56
35 years$1,513$1,018$667$428$270$47
36 years$1,455$966$624$394$244$40
37 years$1,400$918$584$363$221$34
38 years$1,348$872$547$334$201$29
39 years$1,299$829$512$308$182$25
40 years$1,252$789$480$284$165$21
41 years$1,208$751$450$262$150$18
42 years$1,166$715$422$242$136$16
43 years$1,126$681$396$224$123$13
44 years$1,088$650$372$206$112$11
45 years$1,052$619$349$191$102$10
46 years$1,018$591$328$176$92$8
47 years$985$564$308$163$84$7
48 years$953$538$290$150$76$6
49 years$923$514$272$139$69$5
50 years$894$491$256$128$63$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $916,000, adding $4,177 every year, while hoping to spend $41,911 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: 66/28/6 Blend
62$916,000$916,000$916,000$916,000
63$1,013,741$965,193$950,995$1,079,424
64$1,072,549$967,894$938,260$1,126,261
65$1,135,951$969,323$923,694$1,172,008
66$1,204,372$969,373$907,191$1,220,884
67$1,278,277$967,932$888,641$1,273,186
68$1,358,178$964,877$867,928$1,329,247
69$1,444,639$960,083$844,930$1,389,430
70$1,538,279$953,414$819,522$1,454,138
71$1,639,778$944,726$791,571$1,523,815
72$1,749,885$933,867$760,938$1,598,954
73$1,869,423$920,676$727,478$1,680,096
74$1,999,296$904,981$691,041$1,767,841
75$2,140,501$886,602$651,468$1,862,849
76$2,294,133$865,347$608,593$1,965,851
77$2,461,398$841,012$562,244$2,077,653
78$2,643,622$813,382$512,240$2,199,147
79$2,842,263$782,230$458,392$2,331,314
80$3,058,930$747,315$400,504$2,475,240
81$3,295,389$708,382$338,370$2,632,125
82$3,553,587$665,161$271,773$2,803,291
83$3,835,667$617,368$200,492$2,990,199
84$4,143,987$564,701$124,290$3,194,462
85$4,481,143$506,841$42,923$3,417,859
86$4,849,995$443,451$0$3,662,356
87$5,253,691$374,177$0$3,932,932
88$5,695,697$298,641$0$4,232,286
89$6,179,831$216,447$0$4,560,327
90$6,710,296$127,176$0$4,919,988
91$7,291,723$30,384$0$5,314,508
92$7,929,210$0$0$5,747,457
93$8,628,373$0$0$6,245,698
94$9,395,398$0$0$6,802,630
95$10,237,098$0$0$7,413,844
96$11,160,978$0$0$8,084,798
97$12,175,304$0$0$8,821,504
98$13,289,182$0$0$9,630,584
99$14,512,643$0$0$10,519,332
100$15,856,738$0$0$11,495,785