Can I retire at age 63 with 944,000?

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 $944,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$77,955$77,260$76,583$75,922$75,276$74,770
2 years$38,591$37,873$37,176$36,501$35,846$35,336
3 years$25,472$24,750$24,055$23,386$22,742$22,243
4 years$18,914$18,194$17,506$16,849$16,220$15,736
5 years$14,980$14,264$13,586$12,941$12,330$11,863
6 years$12,358$11,648$10,979$10,349$9,756$9,307
7 years$10,486$9,782$9,124$8,509$7,934$7,503
8 years$9,082$8,385$7,738$7,138$6,582$6,168
9 years$7,992$7,301$6,664$6,080$5,543$5,147
10 years$7,119$6,435$5,810$5,241$4,723$4,344
11 years$6,406$5,729$5,115$4,561$4,062$3,700
12 years$5,812$5,142$4,540$4,001$3,520$3,174
13 years$5,310$4,647$4,056$3,532$3,070$2,740
14 years$4,880$4,224$3,644$3,135$2,691$2,377
15 years$4,508$3,858$3,290$2,796$2,369$2,071
16 years$4,182$3,540$2,983$2,504$2,094$1,811
17 years$3,895$3,260$2,714$2,250$1,857$1,588
18 years$3,641$3,013$2,478$2,027$1,651$1,397
19 years$3,413$2,792$2,268$1,832$1,471$1,231
20 years$3,208$2,595$2,082$1,659$1,314$1,087
21 years$3,023$2,417$1,915$1,506$1,176$961
22 years$2,856$2,256$1,765$1,369$1,054$852
23 years$2,703$2,110$1,630$1,247$946$755
24 years$2,562$1,977$1,507$1,137$851$671
25 years$2,434$1,855$1,396$1,039$765$596
26 years$2,315$1,744$1,295$950$689$531
27 years$2,206$1,641$1,202$869$622$472
28 years$2,104$1,546$1,118$796$561$421
29 years$2,010$1,459$1,040$730$506$375
30 years$1,922$1,378$969$670$458$335
31 years$1,839$1,302$903$616$414$299
32 years$1,763$1,232$843$566$374$267
33 years$1,691$1,167$787$520$339$238
34 years$1,623$1,106$735$479$307$213
35 years$1,559$1,049$687$441$278$190
36 years$1,499$996$643$406$252$170
37 years$1,443$946$602$374$228$152
38 years$1,389$899$564$345$207$136
39 years$1,339$855$528$318$188$122
40 years$1,291$813$495$293$170$109
41 years$1,245$774$464$270$154$97
42 years$1,202$737$435$250$140$87
43 years$1,161$702$408$230$127$78
44 years$1,122$669$383$213$115$70
45 years$1,084$638$360$196$105$63
46 years$1,049$609$338$181$95$56
47 years$1,015$581$318$168$86$50
48 years$982$555$298$155$78$45
49 years$951$530$281$143$71$40
50 years$922$506$264$132$65$36

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $944,000, adding $4,419 every year, while hoping to spend $52,045 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: 57/16/27 Blend
62$944,000$944,000$944,000$944,000
63$1,044,846$994,814$980,182$1,096,452
64$1,096,045$988,185$957,643$1,125,707
65$1,150,722$979,486$932,604$1,151,735
66$1,209,176$968,562$904,927$1,179,031
67$1,271,737$955,246$874,467$1,207,733
68$1,338,765$939,364$841,072$1,237,995
69$1,410,655$920,728$804,584$1,269,990
70$1,487,841$899,143$764,837$1,303,913
71$1,570,798$874,399$721,657$1,339,977
72$1,660,050$846,275$674,863$1,378,424
73$1,756,170$814,537$624,266$1,419,523
74$1,859,789$778,939$569,668$1,463,573
75$1,971,598$739,217$510,862$1,510,907
76$2,092,358$695,096$447,633$1,561,896
77$2,222,904$646,282$379,755$1,616,953
78$2,364,156$592,465$306,992$1,676,539
79$2,517,123$533,319$229,099$1,741,162
80$2,682,915$468,497$145,819$1,811,393
81$2,862,753$397,633$56,884$1,887,860
82$3,057,978$320,342$0$1,971,266
83$3,270,068$236,216$0$2,073,341
84$3,500,647$144,822$0$2,202,196
85$3,751,502$45,707$0$2,342,471
86$4,024,598$0$0$2,495,319
87$4,322,099$0$0$2,672,860
88$4,646,385$0$0$2,875,233
89$5,000,077$0$0$3,096,036
90$5,386,057$0$0$3,337,077
91$5,807,501$0$0$3,600,350
92$6,267,902$0$0$3,888,047
93$6,771,106$0$0$4,202,585
94$7,321,351$0$0$4,546,621
95$7,923,297$0$0$4,923,082
96$8,582,079$0$0$5,335,193
97$9,303,351$0$0$5,786,503
98$10,093,339$0$0$6,280,921
99$10,958,898$0$0$6,822,752
100$11,907,580$0$0$7,416,736