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%15.8%
1 years$78,368$77,669$76,988$76,324$75,675$73,875
2 years$38,796$38,073$37,373$36,694$36,036$34,233
3 years$25,607$24,881$24,183$23,510$22,862$21,113
4 years$19,014$18,290$17,599$16,938$16,306$14,624
5 years$15,059$14,340$13,657$13,010$12,395$10,785
6 years$12,423$11,710$11,037$10,404$9,808$8,271
7 years$10,541$9,834$9,172$8,554$7,977$6,513
8 years$9,131$8,429$7,779$7,176$6,617$5,226
9 years$8,034$7,339$6,700$6,112$5,573$4,253
10 years$7,157$6,469$5,841$5,269$4,748$3,499
11 years$6,440$5,759$5,142$4,585$4,084$2,903
12 years$5,843$5,169$4,564$4,022$3,539$2,424
13 years$5,338$4,671$4,077$3,551$3,086$2,036
14 years$4,906$4,246$3,663$3,152$2,705$1,717
15 years$4,532$3,879$3,308$2,811$2,382$1,454
16 years$4,204$3,559$2,999$2,517$2,105$1,234
17 years$3,916$3,278$2,729$2,261$1,866$1,051
18 years$3,660$3,029$2,491$2,038$1,660$896
19 years$3,431$2,807$2,280$1,842$1,479$766
20 years$3,225$2,608$2,093$1,668$1,321$656
21 years$3,039$2,430$1,925$1,514$1,182$562
22 years$2,871$2,268$1,774$1,376$1,060$482
23 years$2,717$2,121$1,638$1,253$951$414
24 years$2,576$1,987$1,515$1,143$855$356
25 years$2,447$1,865$1,403$1,044$769$306
26 years$2,327$1,753$1,301$955$693$263
27 years$2,217$1,650$1,209$874$625$227
28 years$2,115$1,554$1,123$801$564$195
29 years$2,020$1,466$1,045$734$509$168
30 years$1,932$1,385$974$674$460$145
31 years$1,849$1,309$908$619$416$125
32 years$1,772$1,239$847$569$376$108
33 years$1,700$1,173$791$523$340$93
34 years$1,632$1,112$739$481$308$80
35 years$1,568$1,055$691$443$279$69
36 years$1,507$1,001$646$408$253$60
37 years$1,450$951$605$376$229$52
38 years$1,397$903$566$346$208$44
39 years$1,346$859$531$319$189$38
40 years$1,297$817$497$295$171$33
41 years$1,252$778$466$272$155$29
42 years$1,208$741$438$251$141$25
43 years$1,167$706$411$232$128$21
44 years$1,128$673$385$214$116$18
45 years$1,090$642$362$197$105$16
46 years$1,054$612$340$182$96$14
47 years$1,020$584$319$169$87$12
48 years$988$558$300$156$79$10
49 years$956$533$282$144$72$9
50 years$927$509$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 $949,000, adding $6,085 every year, while hoping to spend $31,800 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: 40/34/26 Blend
62$949,000$949,000$949,000$949,000
63$1,052,075$1,001,778$987,068$1,085,868
64$1,125,551$1,017,030$986,300$1,126,144
65$1,205,457$1,031,964$984,440$1,166,264
66$1,292,413$1,046,530$981,419$1,209,050
67$1,387,105$1,060,675$977,162$1,254,767
68$1,490,286$1,074,345$971,593$1,303,705
69$1,602,785$1,087,477$964,631$1,356,188
70$1,725,514$1,100,009$956,192$1,412,571
71$1,859,478$1,111,870$946,185$1,473,248
72$2,005,781$1,122,989$934,519$1,538,658
73$2,165,642$1,133,286$921,097$1,609,281
74$2,340,400$1,142,679$905,816$1,685,651
75$2,531,529$1,151,079$888,569$1,768,359
76$2,740,655$1,158,392$869,246$1,858,056
77$2,969,565$1,164,516$847,729$1,955,464
78$3,220,229$1,169,346$823,896$2,061,381
79$3,494,815$1,172,767$797,619$2,176,687
80$3,795,712$1,174,658$768,765$2,302,356
81$4,125,550$1,174,892$737,194$2,439,464
82$4,487,225$1,173,331$702,760$2,589,200
83$4,883,929$1,169,831$665,309$2,752,879
84$5,319,175$1,164,238$624,683$2,931,951
85$5,796,835$1,156,390$580,713$3,128,020
86$6,321,172$1,146,112$533,227$3,342,858
87$6,896,882$1,133,223$482,041$3,578,419
88$7,529,140$1,117,526$426,965$3,836,865
89$8,223,645$1,098,817$367,800$4,120,580
90$8,986,675$1,076,878$304,340$4,432,199
91$9,825,146$1,051,476$236,366$4,774,630
92$10,746,680$1,022,367$163,653$5,151,084
93$11,759,670$989,291$85,964$5,565,106
94$12,873,365$951,975$3,053$6,020,608
95$14,097,955$910,129$0$6,521,909
96$15,444,665$863,444$0$7,097,476
97$16,925,864$811,596$0$7,731,314
98$18,555,180$754,242$0$8,428,460
99$20,347,627$691,018$0$9,195,401
100$22,319,747$621,540$0$10,039,293