Can I retire at age 63 with 948,000?

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 $948,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$78,285$77,588$76,907$76,243$75,595$74,837
2 years$38,755$38,033$37,334$36,655$35,998$35,234
3 years$25,580$24,855$24,157$23,485$22,838$22,093
4 years$18,994$18,271$17,580$16,920$16,288$15,567
5 years$15,043$14,325$13,643$12,996$12,382$11,687
6 years$12,410$11,697$11,026$10,393$9,798$9,129
7 years$10,530$9,823$9,162$8,545$7,968$7,327
8 years$9,121$8,420$7,770$7,168$6,610$5,996
9 years$8,025$7,331$6,693$6,106$5,567$4,980
10 years$7,149$6,462$5,835$5,263$4,743$4,183
11 years$6,433$5,753$5,137$4,580$4,079$3,545
12 years$5,837$5,164$4,559$4,018$3,535$3,026
13 years$5,333$4,666$4,073$3,547$3,083$2,599
14 years$4,901$4,242$3,660$3,149$2,702$2,243
15 years$4,527$3,875$3,304$2,808$2,379$1,944
16 years$4,200$3,555$2,996$2,514$2,103$1,690
17 years$3,912$3,274$2,726$2,259$1,864$1,474
18 years$3,656$3,025$2,488$2,036$1,658$1,289
19 years$3,427$2,804$2,278$1,840$1,478$1,129
20 years$3,222$2,606$2,091$1,666$1,320$992
21 years$3,036$2,427$1,923$1,512$1,181$872
22 years$2,868$2,265$1,772$1,375$1,059$768
23 years$2,714$2,119$1,636$1,252$950$677
24 years$2,573$1,985$1,513$1,142$854$597
25 years$2,444$1,863$1,402$1,043$769$528
26 years$2,325$1,751$1,300$954$692$467
27 years$2,215$1,648$1,207$873$624$413
28 years$2,113$1,553$1,122$800$563$365
29 years$2,018$1,465$1,044$733$509$324
30 years$1,930$1,383$973$673$460$287
31 years$1,847$1,308$907$618$415$254
32 years$1,770$1,237$846$568$376$226
33 years$1,698$1,172$790$522$340$200
34 years$1,630$1,111$738$481$308$178
35 years$1,566$1,053$690$442$279$158
36 years$1,506$1,000$646$407$253$140
37 years$1,449$950$604$375$229$124
38 years$1,395$902$566$346$208$111
39 years$1,344$858$530$319$188$98
40 years$1,296$816$497$294$171$87
41 years$1,250$777$466$272$155$78
42 years$1,207$740$437$251$141$69
43 years$1,166$705$410$231$128$61
44 years$1,126$672$385$214$116$54
45 years$1,089$641$362$197$105$48
46 years$1,053$612$340$182$95$43
47 years$1,019$584$319$168$87$38
48 years$987$557$300$156$79$34
49 years$955$532$282$144$72$30
50 years$926$508$265$133$65$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $948,000, adding $2,291 every year, while hoping to spend $24,205 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: 36/34/30 Blend
62$948,000$948,000$948,000$948,000
63$1,047,059$996,815$982,121$1,075,270
64$1,128,105$1,019,905$989,268$1,119,658
65$1,216,607$1,043,315$995,844$1,165,207
66$1,313,299$1,067,036$1,001,802$1,213,928
67$1,418,990$1,091,055$1,007,098$1,266,121
68$1,534,572$1,115,362$1,011,680$1,322,121
69$1,661,024$1,139,940$1,015,497$1,382,295
70$1,799,427$1,164,776$1,018,495$1,447,050
71$1,950,970$1,189,852$1,020,616$1,516,833
72$2,116,963$1,215,148$1,021,801$1,592,139
73$2,298,847$1,240,645$1,021,985$1,673,513
74$2,498,211$1,266,318$1,021,103$1,761,556
75$2,716,804$1,292,143$1,019,085$1,856,931
76$2,956,552$1,318,092$1,015,859$1,960,371
77$3,219,578$1,344,135$1,011,347$2,072,683
78$3,508,218$1,370,241$1,005,470$2,194,758
79$3,825,046$1,396,374$998,144$2,327,579
80$4,172,900$1,422,495$989,281$2,472,230
81$4,554,902$1,448,564$978,789$2,629,907
82$4,974,494$1,474,535$966,570$2,801,929
83$5,435,467$1,500,362$952,524$2,989,752
84$5,941,997$1,525,991$936,546$3,194,982
85$6,498,684$1,551,368$918,523$3,419,390
86$7,110,597$1,576,433$898,341$3,664,929
87$7,783,320$1,601,120$875,878$3,933,754
88$8,523,005$1,625,362$851,007$4,228,242
89$9,336,431$1,649,084$823,595$4,551,014
90$10,231,064$1,672,206$793,502$4,904,961
91$11,215,134$1,694,645$760,585$5,293,273
92$12,297,704$1,716,309$724,691$5,719,467
93$13,488,762$1,737,101$685,662$6,187,421
94$14,799,315$1,756,918$643,330$6,701,413
95$16,241,487$1,775,649$597,524$7,266,160
96$17,828,639$1,793,176$548,061$7,886,865
97$19,575,492$1,809,373$494,752$8,569,264
98$21,498,266$1,824,106$437,400$9,319,683
99$23,614,834$1,837,233$375,799$10,145,098
100$25,944,890$1,848,600$309,731$11,053,200