Can I retire at age 63 with 942,000?

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 $942,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$77,789$77,097$76,421$75,761$75,116$74,674
2 years$38,510$37,792$37,097$36,423$35,770$35,324
3 years$25,418$24,698$24,004$23,337$22,694$22,258
4 years$18,874$18,155$17,469$16,813$16,185$15,763
5 years$14,948$14,234$13,557$12,914$12,304$11,895
6 years$12,332$11,623$10,956$10,327$9,736$9,342
7 years$10,464$9,761$9,104$8,491$7,918$7,540
8 years$9,063$8,367$7,721$7,123$6,568$6,206
9 years$7,975$7,285$6,650$6,067$5,532$5,184
10 years$7,104$6,421$5,798$5,230$4,713$4,380
11 years$6,393$5,717$5,104$4,551$4,054$3,735
12 years$5,800$5,131$4,530$3,992$3,513$3,209
13 years$5,299$4,637$4,047$3,525$3,063$2,774
14 years$4,870$4,215$3,636$3,129$2,685$2,409
15 years$4,498$3,850$3,283$2,790$2,364$2,102
16 years$4,173$3,533$2,977$2,498$2,089$1,840
17 years$3,887$3,253$2,709$2,245$1,853$1,616
18 years$3,633$3,006$2,473$2,023$1,647$1,423
19 years$3,406$2,786$2,264$1,828$1,468$1,256
20 years$3,202$2,589$2,077$1,656$1,312$1,111
21 years$3,017$2,412$1,911$1,503$1,174$984
22 years$2,850$2,251$1,761$1,366$1,052$873
23 years$2,697$2,105$1,626$1,244$944$775
24 years$2,557$1,973$1,504$1,135$849$690
25 years$2,429$1,851$1,393$1,036$764$614
26 years$2,310$1,740$1,292$948$688$547
27 years$2,201$1,637$1,200$867$620$488
28 years$2,100$1,543$1,115$795$560$435
29 years$2,005$1,456$1,038$729$505$389
30 years$1,918$1,375$967$669$457$347
31 years$1,836$1,299$901$614$413$311
32 years$1,759$1,230$841$564$373$278
33 years$1,687$1,164$785$519$338$249
34 years$1,619$1,104$734$478$306$222
35 years$1,556$1,047$686$440$277$199
36 years$1,496$994$642$405$251$178
37 years$1,440$944$600$373$228$160
38 years$1,386$897$562$344$206$143
39 years$1,336$853$527$317$187$128
40 years$1,288$811$494$292$170$115
41 years$1,242$772$463$270$154$103
42 years$1,199$736$434$249$140$92
43 years$1,158$701$408$230$127$83
44 years$1,119$668$383$212$115$74
45 years$1,082$637$359$196$104$67
46 years$1,047$608$337$181$95$60
47 years$1,013$580$317$167$86$54
48 years$980$554$298$155$78$48
49 years$949$529$280$143$71$43
50 years$920$505$263$132$65$39

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $942,000, adding $3,245 every year, while hoping to spend $24,180 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: 65/24/11 Blend
62$942,000$942,000$942,000$942,000
63$1,041,431$991,505$976,904$1,106,384
64$1,121,930$1,014,362$983,903$1,172,972
65$1,209,829$1,037,528$990,326$1,242,563
66$1,305,858$1,060,993$996,128$1,317,984
67$1,410,819$1,084,745$1,001,263$1,399,802
68$1,525,598$1,108,773$1,005,680$1,488,642
69$1,651,166$1,133,060$1,009,327$1,585,190
70$1,788,595$1,157,590$1,012,150$1,690,205
71$1,939,067$1,182,347$1,014,092$1,804,521
72$2,103,879$1,207,310$1,015,092$1,929,057
73$2,284,464$1,232,457$1,015,087$2,064,825
74$2,482,397$1,257,765$1,014,010$2,212,942
75$2,699,415$1,283,208$1,011,792$2,374,635
76$2,937,428$1,308,758$1,008,360$2,551,259
77$3,198,542$1,334,385$1,003,637$2,744,306
78$3,485,078$1,360,053$997,543$2,955,420
79$3,799,589$1,385,729$989,993$3,186,413
80$4,144,889$1,411,373$980,901$3,439,279
81$4,524,080$1,436,941$970,173$3,716,220
82$4,940,574$1,462,390$957,712$4,019,657
83$5,398,135$1,487,669$943,417$4,352,263
84$5,900,906$1,512,726$927,183$4,716,980
85$6,453,453$1,537,504$908,898$5,117,052
86$7,060,805$1,561,942$888,446$5,556,053
87$7,728,504$1,585,974$865,706$6,037,922
88$8,462,654$1,609,529$840,550$6,566,999
89$9,269,981$1,632,533$812,845$7,148,069
90$10,157,897$1,654,904$782,452$7,786,403
91$11,134,564$1,676,557$749,227$8,487,813
92$12,208,979$1,697,398$713,015$9,258,700
93$13,391,054$1,717,329$673,660$10,106,121
94$14,691,707$1,736,244$630,994$11,037,854
95$16,122,973$1,754,031$584,844$12,062,469
96$17,698,108$1,770,571$535,028$13,189,412
97$19,431,721$1,785,734$481,357$14,429,094
98$21,339,907$1,799,386$423,632$15,792,986
99$23,440,401$1,811,380$361,648$17,293,733
100$25,752,747$1,821,562$295,188$18,945,270