Can I retire at age 63 with 922,000?

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 $922,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$76,138$75,460$74,798$74,152$73,522$71,715
2 years$37,692$36,990$36,310$35,650$35,010$33,201
3 years$24,878$24,173$23,495$22,841$22,212$20,457
4 years$18,473$17,770$17,098$16,456$15,842$14,155
5 years$14,631$13,932$13,269$12,640$12,043$10,428
6 years$12,070$11,376$10,723$10,108$9,529$7,988
7 years$10,241$9,554$8,911$8,310$7,750$6,283
8 years$8,871$8,189$7,557$6,971$6,429$5,036
9 years$7,805$7,130$6,509$5,938$5,414$4,094
10 years$6,953$6,285$5,675$5,119$4,613$3,364
11 years$6,257$5,595$4,996$4,455$3,967$2,787
12 years$5,677$5,022$4,434$3,907$3,438$2,325
13 years$5,186$4,538$3,961$3,450$2,998$1,950
14 years$4,766$4,125$3,559$3,062$2,628$1,642
15 years$4,403$3,769$3,214$2,731$2,314$1,388
16 years$4,085$3,458$2,914$2,445$2,045$1,177
17 years$3,805$3,184$2,651$2,197$1,813$1,001
18 years$3,556$2,942$2,420$1,980$1,612$852
19 years$3,333$2,727$2,216$1,789$1,437$727
20 years$3,134$2,534$2,033$1,620$1,284$622
21 years$2,953$2,360$1,870$1,471$1,149$532
22 years$2,789$2,203$1,724$1,337$1,030$456
23 years$2,640$2,061$1,592$1,218$924$391
24 years$2,503$1,931$1,472$1,111$831$335
25 years$2,377$1,812$1,363$1,014$748$288
26 years$2,261$1,703$1,264$927$673$247
27 years$2,154$1,603$1,174$849$607$212
28 years$2,055$1,510$1,091$778$548$183
29 years$1,963$1,425$1,016$713$495$157
30 years$1,877$1,345$946$655$447$135
31 years$1,797$1,272$882$601$404$116
32 years$1,722$1,203$823$552$366$100
33 years$1,651$1,140$768$508$331$86
34 years$1,585$1,080$718$467$300$74
35 years$1,523$1,025$671$430$271$64
36 years$1,464$972$628$396$246$55
37 years$1,409$924$588$365$223$47
38 years$1,357$878$550$337$202$41
39 years$1,307$835$516$310$183$35
40 years$1,261$794$483$286$166$30
41 years$1,216$756$453$264$151$26
42 years$1,174$720$425$244$137$23
43 years$1,134$686$399$225$124$19
44 years$1,095$654$374$208$113$17
45 years$1,059$623$352$192$102$14
46 years$1,024$595$330$177$93$12
47 years$991$568$310$164$84$11
48 years$959$542$292$151$77$9
49 years$929$517$274$140$70$8
50 years$900$494$258$129$63$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $922,000, adding $3,433 every year, while hoping to spend $45,317 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: 77/16/7 Blend
62$922,000$922,000$922,000$922,000
63$1,019,585$970,719$956,428$1,096,963
64$1,075,366$970,067$940,252$1,147,608
65$1,135,317$967,865$922,014$1,196,925
66$1,199,817$963,988$901,599$1,249,667
67$1,269,280$958,305$878,884$1,306,155
68$1,344,161$950,676$853,742$1,366,743
69$1,424,961$940,955$826,037$1,431,822
70$1,512,229$928,983$795,631$1,501,820
71$1,606,568$914,595$762,377$1,577,212
72$1,708,643$897,615$726,121$1,658,522
73$1,819,183$877,857$686,705$1,746,324
74$1,938,990$855,123$643,960$1,841,255
75$2,068,947$829,203$597,712$1,944,016
76$2,210,022$799,877$547,778$2,055,380
77$2,363,284$766,911$493,968$2,176,198
78$2,529,906$730,056$436,083$2,307,411
79$2,711,178$689,050$373,913$2,450,056
80$2,908,521$643,617$307,243$2,605,275
81$3,123,499$593,463$235,844$2,774,331
82$3,357,831$538,278$159,480$2,958,612
83$3,613,411$477,734$77,904$3,159,654
84$3,892,322$411,486$0$3,379,148
85$4,196,857$339,168$0$3,619,642
86$4,529,542$260,392$0$3,888,765
87$4,893,156$174,752$0$4,182,981
88$5,290,759$81,816$0$4,504,815
89$5,725,721$0$0$4,857,051
90$6,201,750$0$0$5,246,076
91$6,722,933$0$0$5,687,805
92$7,293,767$0$0$6,171,650
93$7,919,207$0$0$6,701,812
94$8,604,708$0$0$7,282,922
95$9,356,280$0$0$7,920,077
96$10,180,539$0$0$8,618,892
97$11,084,775$0$0$9,385,552
98$12,077,017$0$0$10,226,869
99$13,166,107$0$0$11,150,345
100$14,361,787$0$0$12,164,247