Can I retire at age 63 with 948,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%15.8%
1 years$78,285$77,588$76,907$76,243$75,595$73,797
2 years$38,755$38,033$37,334$36,655$35,998$34,197
3 years$25,580$24,855$24,157$23,485$22,838$21,091
4 years$18,994$18,271$17,580$16,920$16,288$14,608
5 years$15,043$14,325$13,643$12,996$12,382$10,773
6 years$12,410$11,697$11,026$10,393$9,798$8,262
7 years$10,530$9,823$9,162$8,545$7,968$6,506
8 years$9,121$8,420$7,770$7,168$6,610$5,221
9 years$8,025$7,331$6,693$6,106$5,567$4,249
10 years$7,149$6,462$5,835$5,263$4,743$3,495
11 years$6,433$5,753$5,137$4,580$4,079$2,900
12 years$5,837$5,164$4,559$4,018$3,535$2,422
13 years$5,333$4,666$4,073$3,547$3,083$2,034
14 years$4,901$4,242$3,660$3,149$2,702$1,715
15 years$4,527$3,875$3,304$2,808$2,379$1,452
16 years$4,200$3,555$2,996$2,514$2,103$1,233
17 years$3,912$3,274$2,726$2,259$1,864$1,050
18 years$3,656$3,025$2,488$2,036$1,658$896
19 years$3,427$2,804$2,278$1,840$1,478$765
20 years$3,222$2,606$2,091$1,666$1,320$655
21 years$3,036$2,427$1,923$1,512$1,181$561
22 years$2,868$2,265$1,772$1,375$1,059$482
23 years$2,714$2,119$1,636$1,252$950$414
24 years$2,573$1,985$1,513$1,142$854$355
25 years$2,444$1,863$1,402$1,043$769$306
26 years$2,325$1,751$1,300$954$692$263
27 years$2,215$1,648$1,207$873$624$226
28 years$2,113$1,553$1,122$800$563$195
29 years$2,018$1,465$1,044$733$509$168
30 years$1,930$1,383$973$673$460$145
31 years$1,847$1,308$907$618$415$125
32 years$1,770$1,237$846$568$376$108
33 years$1,698$1,172$790$522$340$93
34 years$1,630$1,111$738$481$308$80
35 years$1,566$1,053$690$442$279$69
36 years$1,506$1,000$646$407$253$60
37 years$1,449$950$604$375$229$51
38 years$1,395$902$566$346$208$44
39 years$1,344$858$530$319$188$38
40 years$1,296$816$497$294$171$33
41 years$1,250$777$466$272$155$29
42 years$1,207$740$437$251$141$25
43 years$1,166$705$410$231$128$21
44 years$1,126$672$385$214$116$18
45 years$1,089$641$362$197$105$16
46 years$1,053$612$340$182$95$14
47 years$1,019$584$319$168$87$12
48 years$987$557$300$156$79$10
49 years$955$532$282$144$72$9
50 years$926$508$265$133$65$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $948,000, adding $2,238 every year, while hoping to spend $31,027 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: 28/43/29 Blend
62$948,000$948,000$948,000$948,000
63$1,047,004$996,760$982,066$1,066,876
64$1,120,786$1,012,589$981,953$1,098,844
65$1,201,054$1,028,154$980,796$1,130,347
66$1,288,437$1,043,408$978,528$1,163,574
67$1,383,626$1,058,304$975,077$1,198,696
68$1,487,383$1,072,788$970,369$1,235,902
69$1,600,546$1,086,805$964,327$1,275,400
70$1,724,037$1,100,294$956,867$1,317,426
71$1,858,872$1,113,191$947,906$1,362,236
72$2,006,168$1,125,429$937,352$1,410,120
73$2,167,156$1,136,933$925,111$1,461,394
74$2,343,189$1,147,626$911,086$1,516,412
75$2,535,760$1,157,425$895,173$1,575,567
76$2,746,511$1,166,242$877,264$1,639,292
77$2,977,249$1,173,982$857,247$1,708,070
78$3,229,966$1,180,545$835,002$1,782,434
79$3,506,855$1,185,825$810,407$1,862,976
80$3,810,331$1,189,707$783,333$1,950,351
81$4,143,054$1,192,071$753,643$2,045,286
82$4,507,952$1,192,789$721,197$2,148,583
83$4,908,253$1,191,725$685,847$2,261,132
84$5,347,510$1,188,735$647,437$2,383,920
85$5,829,637$1,183,664$605,808$2,518,035
86$6,358,946$1,176,350$560,789$2,664,686
87$6,940,188$1,166,621$512,205$2,825,206
88$7,578,595$1,154,293$459,871$3,001,072
89$8,279,930$1,139,171$403,595$3,193,918
90$9,050,543$1,121,051$343,175$3,405,551
91$9,897,429$1,099,713$278,403$3,637,966
92$10,828,295$1,074,928$209,058$3,893,373
93$11,851,632$1,046,450$134,912$4,174,213
94$12,976,793$1,014,020$55,726$4,483,183
95$14,214,083$977,365$0$4,823,265
96$15,574,857$936,193$0$5,206,659
97$17,071,625$890,199$0$5,647,081
98$18,718,169$839,057$0$6,131,374
99$20,529,676$782,425$0$6,664,070
100$22,522,878$719,938$0$7,250,166