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%13.1%
1 years$77,955$77,260$76,583$75,922$75,276$74,304
2 years$38,591$37,873$37,176$36,501$35,846$34,868
3 years$25,472$24,750$24,055$23,386$22,742$21,789
4 years$18,914$18,194$17,506$16,849$16,220$15,299
5 years$14,980$14,264$13,586$12,941$12,330$11,444
6 years$12,358$11,648$10,979$10,349$9,756$8,905
7 years$10,486$9,782$9,124$8,509$7,934$7,119
8 years$9,082$8,385$7,738$7,138$6,582$5,803
9 years$7,992$7,301$6,664$6,080$5,543$4,800
10 years$7,119$6,435$5,810$5,241$4,723$4,014
11 years$6,406$5,729$5,115$4,561$4,062$3,388
12 years$5,812$5,142$4,540$4,001$3,520$2,879
13 years$5,310$4,647$4,056$3,532$3,070$2,461
14 years$4,880$4,224$3,644$3,135$2,691$2,114
15 years$4,508$3,858$3,290$2,796$2,369$1,824
16 years$4,182$3,540$2,983$2,504$2,094$1,578
17 years$3,895$3,260$2,714$2,250$1,857$1,370
18 years$3,641$3,013$2,478$2,027$1,651$1,192
19 years$3,413$2,792$2,268$1,832$1,471$1,039
20 years$3,208$2,595$2,082$1,659$1,314$907
21 years$3,023$2,417$1,915$1,506$1,176$794
22 years$2,856$2,256$1,765$1,369$1,054$695
23 years$2,703$2,110$1,630$1,247$946$610
24 years$2,562$1,977$1,507$1,137$851$535
25 years$2,434$1,855$1,396$1,039$765$470
26 years$2,315$1,744$1,295$950$689$413
27 years$2,206$1,641$1,202$869$622$364
28 years$2,104$1,546$1,118$796$561$320
29 years$2,010$1,459$1,040$730$506$282
30 years$1,922$1,378$969$670$458$249
31 years$1,839$1,302$903$616$414$219
32 years$1,763$1,232$843$566$374$193
33 years$1,691$1,167$787$520$339$170
34 years$1,623$1,106$735$479$307$150
35 years$1,559$1,049$687$441$278$133
36 years$1,499$996$643$406$252$117
37 years$1,443$946$602$374$228$103
38 years$1,389$899$564$345$207$91
39 years$1,339$855$528$318$188$81
40 years$1,291$813$495$293$170$71
41 years$1,245$774$464$270$154$63
42 years$1,202$737$435$250$140$56
43 years$1,161$702$408$230$127$49
44 years$1,122$669$383$213$115$43
45 years$1,084$638$360$196$105$38
46 years$1,049$609$338$181$95$34
47 years$1,015$581$318$168$86$30
48 years$982$555$298$155$78$27
49 years$951$530$281$143$71$23
50 years$922$506$264$132$65$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $944,000, adding $3,082 every year, while hoping to spend $33,175 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: 51/39/10 Blend
62$944,000$944,000$944,000$944,000
63$1,043,467$993,435$978,803$1,093,796
64$1,114,603$1,006,815$976,295$1,141,856
65$1,191,882$1,019,740$972,591$1,190,277
66$1,275,898$1,032,150$967,616$1,242,143
67$1,367,300$1,043,986$961,292$1,297,789
68$1,466,804$1,055,181$953,535$1,357,582
69$1,575,199$1,065,666$944,259$1,421,927
70$1,693,352$1,075,366$933,375$1,491,272
71$1,822,218$1,084,203$920,786$1,566,111
72$1,962,846$1,092,091$906,395$1,646,989
73$2,116,393$1,098,940$890,096$1,734,510
74$2,284,132$1,104,655$871,781$1,829,337
75$2,467,465$1,109,134$851,337$1,932,206
76$2,667,933$1,112,269$828,644$2,043,927
77$2,887,236$1,113,944$803,577$2,165,394
78$3,127,244$1,114,037$776,007$2,297,596
79$3,390,016$1,112,418$745,796$2,441,623
80$3,677,821$1,108,950$712,803$2,598,678
81$3,993,155$1,103,485$676,879$2,770,089
82$4,338,770$1,095,868$637,867$2,957,324
83$4,717,694$1,085,935$595,605$3,162,000
84$5,133,264$1,073,511$549,923$3,385,904
85$5,589,154$1,058,411$500,643$3,631,007
86$6,089,413$1,040,438$447,580$3,899,484
87$6,638,499$1,019,385$390,539$4,193,737
88$7,241,322$995,031$329,318$4,516,414
89$7,903,292$967,143$263,706$4,870,439
90$8,630,369$935,475$193,481$5,259,037
91$9,429,118$899,764$118,414$5,685,767
92$10,306,770$859,734$38,263$6,154,557
93$11,271,293$815,094$0$6,669,737
94$12,331,465$765,533$0$7,241,133
95$13,496,954$710,724$0$7,873,657
96$14,778,415$650,321$0$8,569,069
97$16,187,586$583,960$0$9,333,815
98$17,737,398$511,252$0$10,175,005
99$19,442,099$431,789$0$11,100,481
100$21,317,387$345,141$0$12,118,887