Can I retire at age 63 with 940,000?

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 $940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.5%
1 years$77,624$76,933$76,258$75,600$74,957$72,674
2 years$38,428$37,712$37,019$36,346$35,694$33,413
3 years$25,364$24,645$23,953$23,287$22,646$20,439
4 years$18,834$18,117$17,432$16,777$16,151$14,036
5 years$14,916$14,204$13,528$12,886$12,278$10,259
6 years$12,305$11,599$10,933$10,305$9,715$7,795
7 years$10,441$9,740$9,085$8,473$7,901$6,079
8 years$9,044$8,349$7,705$7,108$6,555$4,830
9 years$7,958$7,270$6,636$6,054$5,520$3,890
10 years$7,089$6,408$5,786$5,219$4,703$3,167
11 years$6,379$5,704$5,094$4,542$4,045$2,599
12 years$5,788$5,120$4,520$3,984$3,505$2,146
13 years$5,288$4,627$4,039$3,517$3,057$1,782
14 years$4,859$4,206$3,629$3,122$2,679$1,485
15 years$4,489$3,842$3,276$2,784$2,359$1,243
16 years$4,165$3,525$2,970$2,493$2,085$1,042
17 years$3,879$3,246$2,703$2,240$1,849$876
18 years$3,625$3,000$2,467$2,019$1,644$738
19 years$3,399$2,780$2,259$1,824$1,465$623
20 years$3,195$2,584$2,073$1,652$1,309$526
21 years$3,011$2,406$1,907$1,499$1,171$445
22 years$2,843$2,246$1,757$1,363$1,050$377
23 years$2,691$2,101$1,623$1,242$942$319
24 years$2,552$1,968$1,501$1,132$847$271
25 years$2,423$1,847$1,390$1,034$762$230
26 years$2,305$1,736$1,289$946$687$195
27 years$2,196$1,634$1,197$865$619$166
28 years$2,095$1,540$1,113$793$559$141
29 years$2,001$1,452$1,036$727$504$120
30 years$1,913$1,372$965$667$456$102
31 years$1,832$1,297$899$613$412$86
32 years$1,755$1,227$839$563$373$73
33 years$1,683$1,162$783$518$337$62
34 years$1,616$1,101$732$477$305$53
35 years$1,553$1,045$684$439$277$45
36 years$1,493$991$640$404$251$38
37 years$1,437$942$599$372$227$33
38 years$1,383$895$561$343$206$28
39 years$1,333$851$526$316$187$24
40 years$1,285$810$493$292$169$20
41 years$1,240$771$462$269$154$17
42 years$1,197$734$433$248$139$15
43 years$1,156$699$407$229$127$12
44 years$1,117$667$382$212$115$11
45 years$1,080$636$358$196$104$9
46 years$1,044$606$337$181$95$8
47 years$1,011$579$316$167$86$6
48 years$978$552$297$154$78$6
49 years$947$528$279$143$71$5
50 years$918$504$263$132$64$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $940,000, adding $6,959 every year, while hoping to spend $43,385 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: 38/40/22 Blend
62$940,000$940,000$940,000$940,000
63$1,043,058$993,238$978,668$1,075,602
64$1,103,289$995,746$965,292$1,102,341
65$1,168,209$996,922$950,014$1,126,642
66$1,238,251$996,656$932,724$1,152,029
67$1,313,890$994,829$913,308$1,178,624
68$1,395,649$991,318$891,646$1,206,567
69$1,484,100$985,988$867,612$1,236,014
70$1,579,876$978,699$841,074$1,267,141
71$1,683,670$969,301$811,896$1,300,143
72$1,796,244$957,637$779,934$1,335,242
73$1,918,436$943,537$745,038$1,372,683
74$2,051,171$926,824$707,050$1,412,743
75$2,195,461$907,309$665,808$1,455,730
76$2,352,423$884,793$621,138$1,501,990
77$2,523,287$859,063$572,862$1,551,907
78$2,709,402$829,897$520,792$1,605,910
79$2,912,256$797,057$464,734$1,664,479
80$3,133,485$760,293$404,482$1,728,148
81$3,374,892$719,338$339,824$1,797,511
82$3,638,459$673,914$270,535$1,873,229
83$3,926,368$623,722$196,385$1,956,041
84$4,241,023$568,450$117,129$2,046,766
85$4,585,069$507,765$32,515$2,146,314
86$4,961,419$441,318$0$2,255,699
87$5,373,279$368,739$0$2,389,610
88$5,824,182$289,635$0$2,544,758
89$6,318,016$203,595$0$2,714,959
90$6,859,064$110,181$0$2,901,821
91$7,452,041$8,933$0$3,107,127
92$8,102,144$0$0$3,332,846
93$8,815,091$0$0$3,625,453
94$9,597,185$0$0$3,950,885
95$10,455,365$0$0$4,308,114
96$11,397,277$0$0$4,700,338
97$12,431,340$0$0$5,131,083
98$13,566,832$0$0$5,604,229
99$14,813,970$0$0$6,124,055
100$16,184,011$0$0$6,695,271