Can I retire at age 63 with 924,000?

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 $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%13.7%
1 years$76,303$75,623$74,960$74,313$73,681$72,550
2 years$37,774$37,070$36,388$35,727$35,086$33,949
3 years$24,932$24,226$23,546$22,891$22,260$21,153
4 years$18,513$17,809$17,135$16,492$15,876$14,807
5 years$14,662$13,962$13,298$12,667$12,069$11,041
6 years$12,096$11,401$10,747$10,130$9,550$8,564
7 years$10,264$9,575$8,930$8,328$7,766$6,824
8 years$8,890$8,207$7,574$6,987$6,443$5,543
9 years$7,822$7,146$6,523$5,951$5,426$4,568
10 years$6,968$6,299$5,687$5,130$4,623$3,807
11 years$6,270$5,607$5,007$4,464$3,976$3,201
12 years$5,689$5,033$4,443$3,916$3,446$2,710
13 years$5,198$4,548$3,970$3,457$3,005$2,307
14 years$4,777$4,134$3,567$3,069$2,634$1,974
15 years$4,412$3,777$3,221$2,737$2,319$1,696
16 years$4,094$3,465$2,920$2,451$2,050$1,461
17 years$3,813$3,191$2,657$2,202$1,817$1,263
18 years$3,564$2,949$2,425$1,984$1,616$1,094
19 years$3,341$2,733$2,220$1,793$1,440$950
20 years$3,140$2,540$2,038$1,624$1,286$826
21 years$2,959$2,366$1,874$1,474$1,151$719
22 years$2,795$2,208$1,728$1,340$1,032$627
23 years$2,645$2,065$1,595$1,220$926$547
24 years$2,508$1,935$1,475$1,113$833$478
25 years$2,382$1,816$1,366$1,017$749$418
26 years$2,266$1,707$1,267$929$675$366
27 years$2,159$1,606$1,177$851$608$320
28 years$2,059$1,513$1,094$779$549$281
29 years$1,967$1,428$1,018$715$496$246
30 years$1,881$1,348$948$656$448$216
31 years$1,800$1,275$884$602$405$189
32 years$1,725$1,206$825$554$366$166
33 years$1,655$1,142$770$509$332$146
34 years$1,589$1,083$720$468$300$128
35 years$1,526$1,027$673$431$272$112
36 years$1,468$975$629$397$246$99
37 years$1,412$926$589$366$223$87
38 years$1,360$880$552$337$202$76
39 years$1,310$836$517$311$184$67
40 years$1,263$796$484$287$166$59
41 years$1,219$758$454$265$151$52
42 years$1,176$721$426$244$137$45
43 years$1,136$687$400$225$124$40
44 years$1,098$655$375$208$113$35
45 years$1,061$625$352$192$102$31
46 years$1,027$596$331$178$93$27
47 years$993$569$311$164$84$24
48 years$962$543$292$152$77$21
49 years$931$519$275$140$70$18
50 years$902$495$258$130$63$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $924,000, adding $5,323 every year, while hoping to spend $52,837 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: 60/14/26 Blend
62$924,000$924,000$924,000$924,000
63$1,023,739$974,767$960,445$1,077,710
64$1,071,942$966,312$936,401$1,106,617
65$1,123,291$955,672$909,782$1,131,989
66$1,178,051$942,685$880,444$1,158,546
67$1,236,512$927,176$848,239$1,186,414
68$1,298,993$908,964$813,011$1,215,735
69$1,365,842$887,856$774,599$1,246,668
70$1,437,442$863,644$732,832$1,279,389
71$1,514,212$836,114$687,533$1,314,098
72$1,596,612$805,034$638,516$1,351,014
73$1,685,147$770,162$585,587$1,390,384
74$1,780,372$731,240$528,544$1,432,482
75$1,882,896$687,995$467,176$1,477,615
76$1,993,385$640,142$401,260$1,526,122
77$2,112,576$587,373$330,567$1,578,383
78$2,241,273$529,370$254,856$1,634,818
79$2,380,364$465,790$173,875$1,695,897
80$2,530,822$396,275$87,361$1,762,140
81$2,693,719$320,445$0$1,834,127
82$2,870,230$237,898$0$1,913,876
83$3,061,651$148,213$0$2,026,679
84$3,269,405$50,940$0$2,149,147
85$3,495,056$0$0$2,282,247
86$3,740,328$0$0$2,435,422
87$4,007,113$0$0$2,610,633
88$4,297,497$0$0$2,801,411
89$4,613,772$0$0$3,009,269
90$4,958,462$0$0$3,235,875
91$5,334,344$0$0$3,483,064
92$5,744,475$0$0$3,752,857
93$6,192,219$0$0$4,047,475
94$6,681,279$0$0$4,369,367
95$7,215,734$0$0$4,721,228
96$7,800,072$0$0$5,106,022
97$8,439,234$0$0$5,527,018
98$9,138,663$0$0$5,987,811
99$9,904,351$0$0$6,492,361
100$10,742,895$0$0$7,045,030