Can I retire at age 63 with 924,000?

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 $924,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$76,303$75,623$74,960$74,313$73,681$72,193
2 years$37,774$37,070$36,388$35,727$35,086$33,594
3 years$24,932$24,226$23,546$22,891$22,260$20,810
4 years$18,513$17,809$17,135$16,492$15,876$14,479
5 years$14,662$13,962$13,298$12,667$12,069$10,729
6 years$12,096$11,401$10,747$10,130$9,550$8,268
7 years$10,264$9,575$8,930$8,328$7,766$6,544
8 years$8,890$8,207$7,574$6,987$6,443$5,279
9 years$7,822$7,146$6,523$5,951$5,426$4,319
10 years$6,968$6,299$5,687$5,130$4,623$3,573
11 years$6,270$5,607$5,007$4,464$3,976$2,981
12 years$5,689$5,033$4,443$3,916$3,446$2,505
13 years$5,198$4,548$3,970$3,457$3,005$2,116
14 years$4,777$4,134$3,567$3,069$2,634$1,796
15 years$4,412$3,777$3,221$2,737$2,319$1,530
16 years$4,094$3,465$2,920$2,451$2,050$1,307
17 years$3,813$3,191$2,657$2,202$1,817$1,120
18 years$3,564$2,949$2,425$1,984$1,616$962
19 years$3,341$2,733$2,220$1,793$1,440$828
20 years$3,140$2,540$2,038$1,624$1,286$713
21 years$2,959$2,366$1,874$1,474$1,151$615
22 years$2,795$2,208$1,728$1,340$1,032$532
23 years$2,645$2,065$1,595$1,220$926$460
24 years$2,508$1,935$1,475$1,113$833$398
25 years$2,382$1,816$1,366$1,017$749$345
26 years$2,266$1,707$1,267$929$675$299
27 years$2,159$1,606$1,177$851$608$259
28 years$2,059$1,513$1,094$779$549$225
29 years$1,967$1,428$1,018$715$496$195
30 years$1,881$1,348$948$656$448$169
31 years$1,800$1,275$884$602$405$147
32 years$1,725$1,206$825$554$366$128
33 years$1,655$1,142$770$509$332$111
34 years$1,589$1,083$720$468$300$97
35 years$1,526$1,027$673$431$272$84
36 years$1,468$975$629$397$246$73
37 years$1,412$926$589$366$223$63
38 years$1,360$880$552$337$202$55
39 years$1,310$836$517$311$184$48
40 years$1,263$796$484$287$166$42
41 years$1,219$758$454$265$151$36
42 years$1,176$721$426$244$137$32
43 years$1,136$687$400$225$124$27
44 years$1,098$655$375$208$113$24
45 years$1,061$625$352$192$102$21
46 years$1,027$596$331$178$93$18
47 years$993$569$311$164$84$16
48 years$962$543$292$152$77$14
49 years$931$519$275$140$70$12
50 years$902$495$258$130$63$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $924,000, adding $6,251 every year, while hoping to spend $26,677 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: 64/24/12 Blend
62$924,000$924,000$924,000$924,000
63$1,024,696$975,724$961,402$1,087,056
64$1,100,831$995,150$965,225$1,148,941
65$1,183,837$1,014,634$968,282$1,212,841
66$1,274,388$1,034,151$970,519$1,281,970
67$1,373,224$1,053,673$971,879$1,356,838
68$1,481,160$1,073,169$972,304$1,438,003
69$1,599,093$1,092,610$971,731$1,526,084
70$1,728,011$1,111,958$970,094$1,621,761
71$1,869,002$1,131,178$967,326$1,725,781
72$2,023,263$1,150,228$963,355$1,838,972
73$2,192,112$1,169,066$958,104$1,962,243
74$2,377,003$1,187,645$951,495$2,096,596
75$2,579,533$1,205,916$943,446$2,243,137
76$2,801,463$1,223,824$933,870$2,403,083
77$3,044,733$1,241,312$922,675$2,577,776
78$3,311,479$1,258,319$909,768$2,768,696
79$3,604,052$1,274,779$895,047$2,977,472
80$3,925,045$1,290,622$878,410$3,205,902
81$4,277,309$1,305,773$859,747$3,455,966
82$4,663,990$1,320,151$838,944$3,729,847
83$5,088,550$1,333,672$815,882$4,029,951
84$5,554,804$1,346,243$790,435$4,358,930
85$6,066,952$1,357,767$762,473$4,719,706
86$6,629,625$1,368,141$731,860$5,115,502
87$7,247,921$1,377,255$698,452$5,549,869
88$7,927,459$1,384,991$662,100$6,026,721
89$8,674,428$1,391,223$622,648$6,550,372
90$9,495,647$1,395,820$579,934$7,125,578
91$10,398,627$1,398,639$533,785$7,757,580
92$11,391,645$1,399,531$484,026$8,452,157
93$12,483,820$1,398,335$430,468$9,215,676
94$13,685,200$1,394,884$372,919$10,055,157
95$15,006,853$1,388,996$311,174$10,978,336
96$16,460,976$1,380,481$245,023$11,993,742
97$18,061,008$1,369,137$174,243$13,110,774
98$19,821,755$1,354,748$98,605$14,339,792
99$21,759,532$1,337,089$17,865$15,692,216
100$23,892,314$1,315,916$0$17,180,632