Can I retire at age 63 with 946,000?

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 $946,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.4%
1 years$78,120$77,424$76,745$76,082$75,435$73,167
2 years$38,673$37,953$37,255$36,578$35,922$33,656
3 years$25,526$24,803$24,106$23,436$22,790$20,597
4 years$18,954$18,233$17,543$16,884$16,254$14,151
5 years$15,011$14,295$13,614$12,969$12,356$10,349
6 years$12,384$11,673$11,002$10,371$9,777$7,867
7 years$10,508$9,803$9,143$8,527$7,951$6,139
8 years$9,102$8,403$7,754$7,153$6,596$4,880
9 years$8,008$7,316$6,679$6,093$5,555$3,934
10 years$7,134$6,449$5,822$5,252$4,733$3,204
11 years$6,420$5,741$5,126$4,571$4,071$2,631
12 years$5,825$5,153$4,549$4,009$3,528$2,174
13 years$5,321$4,657$4,064$3,539$3,076$1,806
14 years$4,890$4,233$3,652$3,142$2,697$1,507
15 years$4,517$3,867$3,297$2,802$2,374$1,261
16 years$4,191$3,548$2,989$2,509$2,098$1,059
17 years$3,904$3,267$2,720$2,254$1,861$891
18 years$3,648$3,019$2,483$2,032$1,654$751
19 years$3,420$2,798$2,273$1,836$1,475$634
20 years$3,215$2,600$2,086$1,663$1,317$536
21 years$3,030$2,422$1,919$1,509$1,179$454
22 years$2,862$2,261$1,769$1,372$1,056$385
23 years$2,708$2,114$1,633$1,249$948$326
24 years$2,568$1,981$1,510$1,140$852$277
25 years$2,439$1,859$1,399$1,041$767$235
26 years$2,320$1,747$1,297$952$691$200
27 years$2,210$1,644$1,205$871$623$170
28 years$2,108$1,549$1,120$798$562$144
29 years$2,014$1,462$1,042$732$508$123
30 years$1,926$1,380$971$672$459$104
31 years$1,843$1,305$905$617$415$89
32 years$1,766$1,235$844$567$375$76
33 years$1,694$1,169$788$521$339$64
34 years$1,626$1,108$737$480$307$55
35 years$1,563$1,051$689$442$278$47
36 years$1,502$998$644$407$252$40
37 years$1,446$948$603$375$229$34
38 years$1,392$901$565$345$207$29
39 years$1,341$856$529$318$188$24
40 years$1,293$815$496$294$170$21
41 years$1,248$776$465$271$155$18
42 years$1,204$739$436$250$140$15
43 years$1,163$704$409$231$127$13
44 years$1,124$671$384$213$116$11
45 years$1,087$640$361$197$105$9
46 years$1,051$610$339$182$95$8
47 years$1,017$582$318$168$87$7
48 years$984$556$299$155$79$6
49 years$953$531$281$143$71$5
50 years$924$507$264$133$65$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $946,000, adding $6,885 every year, while hoping to spend $35,586 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: 44/37/19 Blend
62$946,000$946,000$946,000$946,000
63$1,049,594$999,456$984,793$1,089,732
64$1,118,789$1,010,566$979,920$1,129,758
65$1,193,850$1,021,028$973,692$1,169,074
66$1,275,336$1,030,772$966,024$1,210,947
67$1,363,865$1,039,725$956,831$1,255,630
68$1,460,115$1,047,807$946,020$1,303,405
69$1,564,833$1,054,935$933,498$1,354,582
70$1,678,839$1,061,020$919,163$1,409,504
71$1,803,036$1,065,966$902,911$1,468,553
72$1,938,420$1,069,673$884,633$1,532,151
73$2,086,085$1,072,032$864,214$1,600,763
74$2,247,235$1,072,931$841,534$1,674,906
75$2,423,196$1,072,247$816,468$1,755,151
76$2,615,427$1,069,852$788,885$1,842,130
77$2,825,535$1,065,610$758,647$1,936,543
78$3,055,289$1,059,374$725,611$2,039,163
79$3,306,637$1,050,992$689,628$2,150,845
80$3,581,723$1,040,300$650,540$2,272,535
81$3,882,909$1,027,125$608,183$2,405,279
82$4,212,796$1,011,284$562,387$2,550,234
83$4,574,246$992,582$512,972$2,708,676
84$4,970,414$970,814$459,752$2,882,020
85$5,404,774$945,761$402,531$3,071,826
86$5,881,151$917,193$341,105$3,279,821
87$6,403,758$884,866$275,263$3,507,910
88$6,977,238$848,521$204,780$3,758,200
89$7,606,702$807,884$129,426$4,033,020
90$8,297,781$762,666$48,957$4,334,938
91$9,056,679$712,561$0$4,666,796
92$9,890,229$657,245$0$5,039,212
93$10,805,959$596,377$0$5,459,246
94$11,812,162$529,594$0$5,920,841
95$12,917,973$456,515$0$6,428,278
96$14,133,457$376,735$0$6,986,281
97$15,469,704$289,829$0$7,600,061
98$16,938,928$195,345$0$8,275,365
99$18,554,589$92,808$0$9,018,534
100$20,331,517$0$0$9,836,564