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%16.3%
1 years$78,285$77,588$76,907$76,243$75,595$73,648
2 years$38,755$38,033$37,334$36,655$35,998$34,049
3 years$25,580$24,855$24,157$23,485$22,838$20,949
4 years$18,994$18,271$17,580$16,920$16,288$14,473
5 years$15,043$14,325$13,643$12,996$12,382$10,646
6 years$12,410$11,697$11,026$10,393$9,798$8,142
7 years$10,530$9,823$9,162$8,545$7,968$6,393
8 years$9,121$8,420$7,770$7,168$6,610$5,115
9 years$8,025$7,331$6,693$6,106$5,567$4,150
10 years$7,149$6,462$5,835$5,263$4,743$3,404
11 years$6,433$5,753$5,137$4,580$4,079$2,815
12 years$5,837$5,164$4,559$4,018$3,535$2,343
13 years$5,333$4,666$4,073$3,547$3,083$1,961
14 years$4,901$4,242$3,660$3,149$2,702$1,649
15 years$4,527$3,875$3,304$2,808$2,379$1,391
16 years$4,200$3,555$2,996$2,514$2,103$1,177
17 years$3,912$3,274$2,726$2,259$1,864$998
18 years$3,656$3,025$2,488$2,036$1,658$848
19 years$3,427$2,804$2,278$1,840$1,478$722
20 years$3,222$2,606$2,091$1,666$1,320$616
21 years$3,036$2,427$1,923$1,512$1,181$526
22 years$2,868$2,265$1,772$1,375$1,059$449
23 years$2,714$2,119$1,636$1,252$950$384
24 years$2,573$1,985$1,513$1,142$854$329
25 years$2,444$1,863$1,402$1,043$769$282
26 years$2,325$1,751$1,300$954$692$242
27 years$2,215$1,648$1,207$873$624$207
28 years$2,113$1,553$1,122$800$563$178
29 years$2,018$1,465$1,044$733$509$152
30 years$1,930$1,383$973$673$460$131
31 years$1,847$1,308$907$618$415$112
32 years$1,770$1,237$846$568$376$96
33 years$1,698$1,172$790$522$340$83
34 years$1,630$1,111$738$481$308$71
35 years$1,566$1,053$690$442$279$61
36 years$1,506$1,000$646$407$253$53
37 years$1,449$950$604$375$229$45
38 years$1,395$902$566$346$208$39
39 years$1,344$858$530$319$188$33
40 years$1,296$816$497$294$171$29
41 years$1,250$777$466$272$155$25
42 years$1,207$740$437$251$141$21
43 years$1,166$705$410$231$128$18
44 years$1,126$672$385$214$116$16
45 years$1,089$641$362$197$105$13
46 years$1,053$612$340$182$95$12
47 years$1,019$584$319$168$87$10
48 years$987$557$300$156$79$9
49 years$955$532$282$144$72$7
50 years$926$508$265$133$65$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $948,000, adding $4,069 every year, while hoping to spend $48,210 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: 46/27/27 Blend
62$948,000$948,000$948,000$948,000
63$1,048,893$998,649$983,955$1,088,830
64$1,104,585$996,288$965,623$1,115,116
65$1,164,342$992,195$945,060$1,138,623
66$1,228,527$986,235$922,142$1,163,192
67$1,297,540$978,264$896,737$1,188,948
68$1,371,819$968,129$868,708$1,216,033
69$1,451,846$955,668$837,910$1,244,603
70$1,538,148$940,709$804,194$1,274,837
71$1,631,307$923,072$767,402$1,306,933
72$1,731,960$902,562$727,370$1,341,116
73$1,840,809$878,977$683,926$1,377,634
74$1,958,625$852,100$636,891$1,416,768
75$2,086,254$821,703$586,077$1,458,829
76$2,224,629$787,544$531,287$1,504,168
77$2,374,774$749,366$472,318$1,553,173
78$2,537,816$706,900$408,956$1,606,281
79$2,714,994$659,858$340,976$1,663,976
80$2,907,670$607,938$268,146$1,726,797
81$3,117,346$550,821$190,222$1,795,348
82$3,345,671$488,167$106,951$1,870,298
83$3,594,462$419,619$18,066$1,952,393
84$3,865,716$344,800$0$2,042,461
85$4,161,634$263,310$0$2,163,547
86$4,484,637$174,728$0$2,301,544
87$4,837,389$78,608$0$2,452,466
88$5,222,824$0$0$2,617,667
89$5,644,172$0$0$2,806,225
90$6,104,989$0$0$3,038,092
91$6,609,191$0$0$3,291,898
92$7,161,088$0$0$3,569,825
93$7,765,428$0$0$3,874,278
94$8,427,440$0$0$4,207,906
95$9,152,879$0$0$4,573,626
96$9,948,087$0$0$4,974,649
97$10,820,047$0$0$5,414,514
98$11,776,450$0$0$5,897,117
99$12,825,769$0$0$6,426,750
100$13,977,334$0$0$7,008,142