Can I retire at age 63 with 949,000?

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 $949,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$78,368$77,669$76,988$76,324$75,675$73,517
2 years$38,796$38,073$37,373$36,694$36,036$33,879
3 years$25,607$24,881$24,183$23,510$22,862$20,774
4 years$19,014$18,290$17,599$16,938$16,306$14,302
5 years$15,059$14,340$13,657$13,010$12,395$10,481
6 years$12,423$11,710$11,037$10,404$9,808$7,985
7 years$10,541$9,834$9,172$8,554$7,977$6,245
8 years$9,131$8,429$7,779$7,176$6,617$4,976
9 years$8,034$7,339$6,700$6,112$5,573$4,021
10 years$7,157$6,469$5,841$5,269$4,748$3,283
11 years$6,440$5,759$5,142$4,585$4,084$2,703
12 years$5,843$5,169$4,564$4,022$3,539$2,240
13 years$5,338$4,671$4,077$3,551$3,086$1,866
14 years$4,906$4,246$3,663$3,152$2,705$1,561
15 years$4,532$3,879$3,308$2,811$2,382$1,310
16 years$4,204$3,559$2,999$2,517$2,105$1,103
17 years$3,916$3,278$2,729$2,261$1,866$931
18 years$3,660$3,029$2,491$2,038$1,660$787
19 years$3,431$2,807$2,280$1,842$1,479$667
20 years$3,225$2,608$2,093$1,668$1,321$565
21 years$3,039$2,430$1,925$1,514$1,182$480
22 years$2,871$2,268$1,774$1,376$1,060$408
23 years$2,717$2,121$1,638$1,253$951$347
24 years$2,576$1,987$1,515$1,143$855$295
25 years$2,447$1,865$1,403$1,044$769$252
26 years$2,327$1,753$1,301$955$693$214
27 years$2,217$1,650$1,209$874$625$183
28 years$2,115$1,554$1,123$801$564$156
29 years$2,020$1,466$1,045$734$509$133
30 years$1,932$1,385$974$674$460$114
31 years$1,849$1,309$908$619$416$97
32 years$1,772$1,239$847$569$376$83
33 years$1,700$1,173$791$523$340$71
34 years$1,632$1,112$739$481$308$60
35 years$1,568$1,055$691$443$279$52
36 years$1,507$1,001$646$408$253$44
37 years$1,450$951$605$376$229$38
38 years$1,397$903$566$346$208$32
39 years$1,346$859$531$319$189$27
40 years$1,297$817$497$295$171$23
41 years$1,252$778$466$272$155$20
42 years$1,208$741$438$251$141$17
43 years$1,167$706$411$232$128$15
44 years$1,128$673$385$214$116$13
45 years$1,090$642$362$197$105$11
46 years$1,054$612$340$182$96$9
47 years$1,020$584$319$169$87$8
48 years$988$558$300$156$79$7
49 years$956$533$282$144$72$6
50 years$927$509$265$133$65$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $949,000, adding $3,255 every year, while hoping to spend $52,647 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: 68/5/27 Blend
62$949,000$949,000$949,000$949,000
63$1,049,156$998,859$984,149$1,112,936
64$1,100,153$991,787$961,102$1,149,150
65$1,154,589$982,604$935,518$1,182,464
66$1,212,756$971,151$907,258$1,217,712
67$1,274,979$957,259$876,173$1,255,089
68$1,341,612$940,750$842,110$1,294,807
69$1,413,045$921,435$804,909$1,337,103
70$1,489,703$899,112$764,400$1,382,240
71$1,572,054$873,571$720,410$1,430,508
72$1,660,614$844,586$672,753$1,482,229
73$1,755,944$811,919$621,239$1,537,761
74$1,858,666$775,318$565,666$1,597,498
75$1,969,460$734,518$505,825$1,661,879
76$2,089,072$689,237$441,498$1,731,387
77$2,218,325$639,178$372,456$1,806,559
78$2,358,121$584,024$298,460$1,887,989
79$2,509,453$523,444$219,261$1,976,334
80$2,673,410$457,086$134,600$2,072,319
81$2,851,193$384,578$44,204$2,176,750
82$3,044,120$305,528$0$2,290,513
83$3,253,642$219,521$0$2,429,650
84$3,481,355$126,119$0$2,594,760
85$3,729,013$24,858$0$2,774,383
86$3,998,548$0$0$2,969,943
87$4,292,085$0$0$3,187,665
88$4,611,961$0$0$3,426,465
89$4,960,750$0$0$3,686,902
90$5,341,285$0$0$3,971,099
91$5,756,682$0$0$4,281,391
92$6,210,373$0$0$4,620,347
93$6,706,135$0$0$4,990,798
94$7,248,128$0$0$5,395,858
95$7,840,930$0$0$5,838,959
96$8,489,583$0$0$6,323,877
97$9,199,639$0$0$6,854,771
98$9,977,209$0$0$7,436,220
99$10,829,027$0$0$8,073,269
100$11,762,506$0$0$8,771,471