Can I retire at age 63 with 918,000?

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 $918,000?

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$75,808$75,132$74,474$73,830$73,203$72,378
2 years$37,529$36,830$36,152$35,495$34,858$34,028
3 years$24,770$24,069$23,393$22,742$22,116$21,306
4 years$18,393$17,693$17,024$16,385$15,773$14,990
5 years$14,567$13,871$13,211$12,585$11,990$11,236
6 years$12,017$11,327$10,677$10,064$9,488$8,763
7 years$10,197$9,512$8,872$8,274$7,716$7,021
8 years$8,832$8,154$7,525$6,941$6,401$5,736
9 years$7,771$7,099$6,481$5,912$5,391$4,755
10 years$6,923$6,258$5,650$5,096$4,593$3,987
11 years$6,230$5,571$4,974$4,435$3,950$3,373
12 years$5,652$5,000$4,415$3,890$3,423$2,874
13 years$5,164$4,519$3,944$3,435$2,985$2,463
14 years$4,746$4,107$3,544$3,049$2,617$2,122
15 years$4,384$3,752$3,200$2,719$2,304$1,835
16 years$4,067$3,443$2,901$2,435$2,036$1,592
17 years$3,788$3,170$2,640$2,188$1,805$1,386
18 years$3,540$2,930$2,410$1,971$1,605$1,209
19 years$3,319$2,715$2,206$1,781$1,431$1,057
20 years$3,120$2,523$2,025$1,613$1,278$926
21 years$2,940$2,350$1,862$1,464$1,144$812
22 years$2,777$2,194$1,716$1,331$1,025$714
23 years$2,628$2,052$1,585$1,212$920$628
24 years$2,492$1,922$1,466$1,106$827$553
25 years$2,367$1,804$1,357$1,010$744$487
26 years$2,251$1,696$1,259$923$670$430
27 years$2,145$1,596$1,169$845$604$379
28 years$2,046$1,504$1,087$774$545$335
29 years$1,954$1,418$1,011$710$493$296
30 years$1,869$1,340$942$652$445$262
31 years$1,789$1,266$878$599$402$232
32 years$1,714$1,198$819$550$364$205
33 years$1,644$1,135$765$506$329$181
34 years$1,578$1,076$715$465$298$161
35 years$1,516$1,020$668$428$270$142
36 years$1,458$968$625$395$245$126
37 years$1,403$920$585$364$222$112
38 years$1,351$874$548$335$201$99
39 years$1,302$831$513$309$182$88
40 years$1,255$791$481$285$165$78
41 years$1,211$753$451$263$150$69
42 years$1,169$717$423$243$136$61
43 years$1,129$683$397$224$124$54
44 years$1,091$651$373$207$112$48
45 years$1,054$621$350$191$102$43
46 years$1,020$592$329$176$92$38
47 years$987$565$309$163$84$33
48 years$955$539$290$151$76$30
49 years$925$515$273$139$69$26
50 years$896$492$257$129$63$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $918,000, adding $3,939 every year, while hoping to spend $40,290 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: 44/28/28 Blend
62$918,000$918,000$918,000$918,000
63$1,015,699$967,045$952,816$1,051,982
64$1,076,432$971,562$941,867$1,082,779
65$1,142,010$974,950$929,201$1,111,998
66$1,212,883$977,111$914,718$1,142,902
67$1,289,549$977,941$898,313$1,175,669
68$1,372,553$977,330$879,876$1,210,502
69$1,462,494$975,160$859,293$1,247,623
70$1,560,033$971,307$836,443$1,287,281
71$1,665,894$965,639$811,202$1,329,752
72$1,780,875$958,015$783,437$1,375,345
73$1,905,853$948,287$753,011$1,424,400
74$2,041,794$936,297$719,781$1,477,299
75$2,189,760$921,879$683,597$1,534,463
76$2,350,919$904,854$644,301$1,596,363
77$2,526,557$885,036$601,729$1,663,519
78$2,718,089$862,226$555,710$1,736,510
79$2,927,073$836,214$506,065$1,815,978
80$3,155,223$806,777$452,607$1,902,633
81$3,404,426$773,680$395,140$1,997,266
82$3,676,760$736,673$333,460$2,100,753
83$3,974,513$695,493$267,354$2,214,062
84$4,300,202$649,861$196,598$2,338,269
85$4,656,600$599,482$120,962$2,474,565
86$5,046,761$544,044$40,202$2,624,269
87$5,474,047$483,218$0$2,788,841
88$5,942,160$416,656$0$2,983,636
89$6,455,178$343,990$0$3,210,415
90$7,017,592$264,831$0$3,459,219
91$7,634,348$178,769$0$3,732,323
92$8,310,893$85,371$0$4,032,243
93$9,053,227$0$0$4,361,751
94$9,867,961$0$0$4,728,785
95$10,762,373$0$0$5,160,704
96$11,744,483$0$0$5,635,091
97$12,823,126$0$0$6,156,226
98$14,008,033$0$0$6,728,828
99$15,309,924$0$0$7,358,092
100$16,740,609$0$0$8,049,744