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%15.7%
1 years$78,533$77,833$77,151$76,485$75,834$74,061
2 years$38,878$38,154$37,452$36,771$36,111$34,335
3 years$25,661$24,934$24,234$23,560$22,911$21,187
4 years$19,054$18,329$17,636$16,974$16,340$14,682
5 years$15,091$14,370$13,686$13,037$12,421$10,833
6 years$12,449$11,734$11,061$10,426$9,829$8,312
7 years$10,564$9,854$9,191$8,572$7,993$6,549
8 years$9,150$8,447$7,795$7,191$6,631$5,258
9 years$8,051$7,355$6,714$6,125$5,584$4,282
10 years$7,172$6,483$5,853$5,280$4,758$3,525
11 years$6,454$5,771$5,153$4,595$4,092$2,926
12 years$5,855$5,180$4,573$4,030$3,546$2,446
13 years$5,350$4,681$4,086$3,558$3,092$2,055
14 years$4,916$4,255$3,671$3,159$2,711$1,735
15 years$4,541$3,887$3,315$2,817$2,387$1,470
16 years$4,213$3,566$3,005$2,522$2,109$1,249
17 years$3,924$3,284$2,735$2,266$1,870$1,064
18 years$3,668$3,035$2,496$2,042$1,663$908
19 years$3,438$2,813$2,285$1,845$1,482$777
20 years$3,232$2,614$2,097$1,671$1,324$665
21 years$3,046$2,435$1,929$1,517$1,185$571
22 years$2,877$2,273$1,778$1,379$1,062$490
23 years$2,723$2,126$1,642$1,256$953$421
24 years$2,581$1,992$1,518$1,146$857$362
25 years$2,452$1,869$1,406$1,046$771$312
26 years$2,332$1,756$1,304$957$695$268
27 years$2,222$1,653$1,211$876$626$231
28 years$2,120$1,558$1,126$802$565$199
29 years$2,024$1,469$1,048$736$510$172
30 years$1,936$1,388$976$675$461$148
31 years$1,853$1,312$910$620$417$128
32 years$1,776$1,241$849$570$377$110
33 years$1,703$1,176$793$524$341$95
34 years$1,635$1,114$741$482$309$82
35 years$1,571$1,057$692$444$280$71
36 years$1,510$1,003$648$409$254$61
37 years$1,453$953$606$377$230$53
38 years$1,399$905$568$347$208$46
39 years$1,348$861$532$320$189$40
40 years$1,300$819$499$295$171$34
41 years$1,254$780$467$272$155$30
42 years$1,211$743$438$251$141$25
43 years$1,169$707$411$232$128$22
44 years$1,130$674$386$214$116$19
45 years$1,092$643$363$198$105$16
46 years$1,057$613$341$183$96$14
47 years$1,022$585$320$169$87$12
48 years$990$559$301$156$79$11
49 years$958$534$283$144$72$9
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 $5,723 every year, while hoping to spend $39,555 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: 63/24/13 Blend
62$951,000$951,000$951,000$951,000
63$1,053,905$1,003,502$988,762$1,116,697
64$1,119,317$1,010,588$979,799$1,166,546
65$1,190,076$1,016,695$969,210$1,215,893
66$1,266,684$1,021,733$956,900$1,268,803
67$1,349,696$1,025,608$942,766$1,325,625
68$1,439,720$1,028,218$926,703$1,386,741
69$1,537,426$1,029,455$908,602$1,452,574
70$1,643,549$1,029,204$888,347$1,523,591
71$1,758,901$1,027,345$865,816$1,600,308
72$1,884,371$1,023,747$840,882$1,683,294
73$2,020,940$1,018,273$813,415$1,773,176
74$2,169,686$1,010,779$783,275$1,870,650
75$2,331,797$1,001,110$750,318$1,976,480
76$2,508,578$989,103$714,391$2,091,512
77$2,701,468$974,583$675,338$2,216,679
78$2,912,048$957,369$632,992$2,353,013
79$3,142,061$937,264$587,182$2,501,650
80$3,393,424$914,063$537,725$2,663,845
81$3,668,249$887,547$484,435$2,840,984
82$3,968,859$857,486$427,113$3,034,597
83$4,297,816$823,636$365,553$3,246,372
84$4,657,936$785,737$299,542$3,478,170
85$5,052,323$743,515$228,854$3,732,049
86$5,484,395$696,683$153,256$4,010,276
87$5,957,915$644,932$72,502$4,315,354
88$6,477,029$587,940$0$4,650,047
89$7,046,302$525,365$0$5,019,298
90$7,670,762$456,846$0$5,435,430
91$8,355,947$381,999$0$5,892,124
92$9,107,959$300,422$0$6,393,512
93$9,933,517$211,689$0$6,944,154
94$10,840,023$115,349$0$7,549,074
95$11,835,631$10,926$0$8,213,814
96$12,929,324$0$0$8,944,484
97$14,130,996$0$0$9,774,778
98$15,451,551$0$0$10,690,458
99$16,902,996$0$0$11,696,975
100$18,498,563$0$0$12,803,513