Can I retire at age 63 with 951,000?

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 $951,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.6%
1 years$78,533$77,833$77,151$76,485$75,834$74,091
2 years$38,878$38,154$37,452$36,771$36,111$34,365
3 years$25,661$24,934$24,234$23,560$22,911$21,215
4 years$19,054$18,329$17,636$16,974$16,340$14,709
5 years$15,091$14,370$13,686$13,037$12,421$10,859
6 years$12,449$11,734$11,061$10,426$9,829$8,337
7 years$10,564$9,854$9,191$8,572$7,993$6,572
8 years$9,150$8,447$7,795$7,191$6,631$5,280
9 years$8,051$7,355$6,714$6,125$5,584$4,302
10 years$7,172$6,483$5,853$5,280$4,758$3,544
11 years$6,454$5,771$5,153$4,595$4,092$2,944
12 years$5,855$5,180$4,573$4,030$3,546$2,462
13 years$5,350$4,681$4,086$3,558$3,092$2,070
14 years$4,916$4,255$3,671$3,159$2,711$1,748
15 years$4,541$3,887$3,315$2,817$2,387$1,482
16 years$4,213$3,566$3,005$2,522$2,109$1,260
17 years$3,924$3,284$2,735$2,266$1,870$1,075
18 years$3,668$3,035$2,496$2,042$1,663$918
19 years$3,438$2,813$2,285$1,845$1,482$786
20 years$3,232$2,614$2,097$1,671$1,324$673
21 years$3,046$2,435$1,929$1,517$1,185$578
22 years$2,877$2,273$1,778$1,379$1,062$497
23 years$2,723$2,126$1,642$1,256$953$427
24 years$2,581$1,992$1,518$1,146$857$368
25 years$2,452$1,869$1,406$1,046$771$317
26 years$2,332$1,756$1,304$957$695$273
27 years$2,222$1,653$1,211$876$626$235
28 years$2,120$1,558$1,126$802$565$203
29 years$2,024$1,469$1,048$736$510$175
30 years$1,936$1,388$976$675$461$151
31 years$1,853$1,312$910$620$417$131
32 years$1,776$1,241$849$570$377$113
33 years$1,703$1,176$793$524$341$97
34 years$1,635$1,114$741$482$309$84
35 years$1,571$1,057$692$444$280$73
36 years$1,510$1,003$648$409$254$63
37 years$1,453$953$606$377$230$54
38 years$1,399$905$568$347$208$47
39 years$1,348$861$532$320$189$41
40 years$1,300$819$499$295$171$35
41 years$1,254$780$467$272$155$30
42 years$1,211$743$438$251$141$26
43 years$1,169$707$411$232$128$23
44 years$1,130$674$386$214$116$20
45 years$1,092$643$363$198$105$17
46 years$1,057$613$341$183$96$15
47 years$1,022$585$320$169$87$13
48 years$990$559$301$156$79$11
49 years$958$534$283$144$72$10
50 years$929$510$266$133$65$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $951,000, adding $6,929 every year, while hoping to spend $24,369 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: 22/50/28 Blend
62$951,000$951,000$951,000$951,000
63$1,055,149$1,004,746$990,006$1,068,885
64$1,136,846$1,028,050$997,243$1,104,872
65$1,226,059$1,051,680$1,003,905$1,140,868
66$1,323,530$1,075,624$1,009,948$1,178,854
67$1,430,073$1,099,873$1,015,325$1,219,008
68$1,546,587$1,124,414$1,019,985$1,261,526
69$1,674,062$1,149,233$1,023,877$1,306,627
70$1,813,584$1,174,314$1,026,945$1,354,549
71$1,966,355$1,199,640$1,029,133$1,405,559
72$2,133,693$1,225,192$1,030,379$1,459,948
73$2,317,053$1,250,950$1,030,620$1,518,041
74$2,518,036$1,276,890$1,029,789$1,580,193
75$2,738,406$1,302,987$1,027,817$1,646,800
76$2,980,104$1,329,215$1,024,630$1,718,296
77$3,245,271$1,355,542$1,020,151$1,795,162
78$3,536,262$1,381,938$1,014,300$1,877,930
79$3,855,673$1,408,366$1,006,992$1,967,186
80$4,206,364$1,434,788$998,138$2,063,577
81$4,591,484$1,461,163$987,647$2,167,819
82$5,014,503$1,487,447$975,420$2,280,701
83$5,479,242$1,513,592$961,356$2,403,096
84$5,989,912$1,539,545$945,349$2,535,966
85$6,551,152$1,565,252$927,287$2,680,375
86$7,168,071$1,590,651$907,053$2,837,496
87$7,846,301$1,615,679$884,526$3,008,625
88$8,592,043$1,640,267$859,577$3,195,193
89$9,412,132$1,664,340$832,073$3,398,780
90$10,314,096$1,687,820$801,874$3,621,128
91$11,306,231$1,710,620$768,834$3,864,162
92$12,397,677$1,732,651$732,800$4,130,006
93$13,598,504$1,753,815$693,613$4,421,005
94$14,919,808$1,774,009$651,106$4,739,745
95$16,373,814$1,793,121$605,103$5,089,083
96$17,973,992$1,811,033$555,424$5,472,170
97$19,735,185$1,827,619$501,876$5,892,481
98$21,673,747$1,842,746$444,262$6,353,856
99$23,807,698$1,856,269$382,374$6,860,527
100$26,156,894$1,868,036$315,994$7,417,165