Can I retire at age 63 with 938,000?

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 $938,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$77,459$76,769$76,096$75,439$74,797$74,388
2 years$38,346$37,632$36,940$36,269$35,618$35,205
3 years$25,310$24,593$23,903$23,238$22,597$22,194
4 years$18,793$18,078$17,395$16,741$16,117$15,725
5 years$14,884$14,174$13,499$12,859$12,252$11,874
6 years$12,279$11,574$10,909$10,283$9,694$9,330
7 years$10,419$9,720$9,066$8,455$7,884$7,534
8 years$9,025$8,332$7,688$7,092$6,541$6,204
9 years$7,941$7,254$6,622$6,041$5,508$5,186
10 years$7,074$6,394$5,773$5,208$4,693$4,385
11 years$6,365$5,692$5,083$4,532$4,036$3,741
12 years$5,775$5,109$4,511$3,975$3,498$3,216
13 years$5,276$4,617$4,030$3,510$3,050$2,782
14 years$4,849$4,197$3,621$3,115$2,674$2,418
15 years$4,479$3,834$3,269$2,778$2,354$2,111
16 years$4,156$3,518$2,964$2,488$2,081$1,849
17 years$3,871$3,240$2,697$2,235$1,845$1,625
18 years$3,618$2,993$2,462$2,014$1,640$1,432
19 years$3,391$2,774$2,254$1,820$1,462$1,265
20 years$3,188$2,578$2,069$1,649$1,306$1,119
21 years$3,004$2,401$1,903$1,496$1,169$992
22 years$2,837$2,242$1,754$1,360$1,048$881
23 years$2,685$2,096$1,619$1,239$940$783
24 years$2,546$1,964$1,497$1,130$845$697
25 years$2,418$1,843$1,387$1,032$761$621
26 years$2,300$1,732$1,286$944$685$554
27 years$2,192$1,630$1,194$864$618$494
28 years$2,091$1,536$1,110$791$557$442
29 years$1,997$1,449$1,033$726$503$395
30 years$1,909$1,369$963$666$455$353
31 years$1,828$1,294$897$612$411$316
32 years$1,751$1,224$837$562$372$283
33 years$1,680$1,159$782$517$337$253
34 years$1,613$1,099$730$476$305$227
35 years$1,549$1,042$683$438$276$203
36 years$1,490$989$639$403$250$182
37 years$1,434$940$598$371$227$163
38 years$1,380$893$560$342$205$146
39 years$1,330$849$525$316$186$131
40 years$1,282$808$492$291$169$118
41 years$1,237$769$461$269$153$106
42 years$1,194$732$432$248$139$95
43 years$1,153$698$406$229$126$85
44 years$1,114$665$381$211$115$76
45 years$1,077$634$358$195$104$69
46 years$1,042$605$336$180$94$62
47 years$1,008$577$316$167$86$55
48 years$976$551$297$154$78$50
49 years$945$526$279$142$71$45
50 years$916$503$262$131$64$40

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $938,000, adding $5,323 every year, while hoping to spend $36,778 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: 60/32/8 Blend
62$938,000$938,000$938,000$938,000
63$1,039,167$989,453$974,914$1,099,406
64$1,106,030$998,804$968,442$1,149,770
65$1,178,481$1,007,382$960,520$1,199,997
66$1,257,051$1,015,108$951,062$1,253,860
67$1,342,323$1,021,901$939,976$1,311,709
68$1,434,939$1,027,674$927,165$1,373,934
69$1,535,608$1,032,335$912,529$1,440,961
70$1,645,105$1,035,784$895,964$1,513,264
71$1,764,286$1,037,918$877,360$1,591,363
72$1,894,092$1,038,625$856,600$1,675,833
73$2,035,559$1,037,787$833,565$1,767,311
74$2,189,825$1,035,278$808,129$1,866,496
75$2,358,146$1,030,965$780,160$1,974,164
76$2,541,902$1,024,707$749,521$2,091,167
77$2,742,613$1,016,355$716,066$2,218,449
78$2,961,951$1,005,748$679,646$2,357,051
79$3,201,759$992,718$640,103$2,508,120
80$3,464,065$977,088$597,273$2,672,925
81$3,751,101$958,667$550,983$2,852,863
82$4,065,326$937,254$501,054$3,049,479
83$4,409,449$912,639$447,299$3,264,477
84$4,786,449$884,595$389,520$3,499,736
85$5,199,612$852,885$327,514$3,757,330
86$5,652,553$817,257$261,066$4,039,549
87$6,149,255$777,445$189,954$4,348,919
88$6,694,106$733,166$113,944$4,688,226
89$7,291,936$684,122$32,792$5,060,546
90$7,948,069$630,000$0$5,469,270
91$8,668,366$570,464$0$5,922,735
92$9,459,286$505,163$0$6,423,762
93$10,327,942$433,725$0$6,974,128
94$11,282,171$355,757$0$7,578,882
95$12,330,606$270,842$0$8,243,594
96$13,482,758$178,543$0$8,974,403
97$14,749,103$78,396$0$9,778,083
98$16,141,186$0$0$10,662,101
99$17,671,722$0$0$11,645,288
100$19,354,724$0$0$12,756,852