Can I retire at age 63 with 953,000?

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 $953,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14%
1 years$78,698$77,997$77,313$76,645$75,994$74,735
2 years$38,959$38,234$37,531$36,849$36,187$34,923
3 years$25,715$24,986$24,285$23,609$22,959$21,728
4 years$19,094$18,367$17,673$17,009$16,374$15,186
5 years$15,122$14,400$13,715$13,065$12,448$11,306
6 years$12,476$11,759$11,084$10,448$9,849$8,756
7 years$10,586$9,875$9,211$8,590$8,010$6,965
8 years$9,169$8,465$7,811$7,206$6,645$5,648
9 years$8,068$7,370$6,728$6,138$5,596$4,646
10 years$7,187$6,496$5,866$5,291$4,768$3,865
11 years$6,467$5,783$5,164$4,605$4,101$3,243
12 years$5,868$5,191$4,583$4,039$3,554$2,740
13 years$5,361$4,691$4,095$3,566$3,099$2,329
14 years$4,927$4,264$3,679$3,165$2,716$1,989
15 years$4,551$3,895$3,322$2,823$2,392$1,705
16 years$4,222$3,574$3,012$2,528$2,114$1,466
17 years$3,933$3,291$2,740$2,271$1,874$1,264
18 years$3,675$3,041$2,502$2,047$1,667$1,093
19 years$3,446$2,819$2,290$1,849$1,485$946
20 years$3,239$2,619$2,102$1,675$1,327$821
21 years$3,052$2,440$1,933$1,520$1,187$713
22 years$2,883$2,277$1,782$1,382$1,064$621
23 years$2,728$2,130$1,645$1,259$955$540
24 years$2,587$1,996$1,521$1,148$859$471
25 years$2,457$1,873$1,409$1,048$773$411
26 years$2,337$1,760$1,307$959$696$359
27 years$2,227$1,657$1,214$877$628$313
28 years$2,124$1,561$1,128$804$566$274
29 years$2,029$1,473$1,050$737$511$239
30 years$1,940$1,391$978$677$462$209
31 years$1,857$1,315$912$621$418$183
32 years$1,779$1,244$851$571$378$160
33 years$1,707$1,178$794$525$342$140
34 years$1,638$1,117$742$483$310$123
35 years$1,574$1,059$694$445$280$108
36 years$1,514$1,005$649$410$254$94
37 years$1,456$955$607$377$230$83
38 years$1,402$907$569$348$209$72
39 years$1,351$863$533$321$189$64
40 years$1,303$821$500$296$172$56
41 years$1,257$781$468$273$156$49
42 years$1,213$744$439$252$141$43
43 years$1,172$709$412$233$128$38
44 years$1,132$676$387$215$116$33
45 years$1,095$644$363$198$106$29
46 years$1,059$615$341$183$96$25
47 years$1,024$587$321$169$87$22
48 years$992$560$301$156$79$19
49 years$960$535$283$145$72$17
50 years$930$511$266$134$65$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $953,000, adding $6,258 every year, while hoping to spend $35,314 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: 83/11/6 Blend
62$953,000$953,000$953,000$953,000
63$1,056,661$1,006,152$991,381$1,143,467
64$1,126,867$1,017,880$987,018$1,212,817
65$1,203,050$1,028,998$981,326$1,283,538
66$1,285,783$1,039,441$974,222$1,360,087
67$1,375,695$1,049,136$965,621$1,443,027
68$1,473,479$1,058,007$955,433$1,532,978
69$1,579,898$1,065,973$943,563$1,630,621
70$1,695,789$1,072,947$929,914$1,736,708
71$1,822,075$1,078,838$914,382$1,852,065
72$1,959,772$1,083,546$896,859$1,977,602
73$2,109,997$1,086,968$877,232$2,114,325
74$2,273,980$1,088,993$855,383$2,263,337
75$2,453,076$1,089,503$831,188$2,425,855
76$2,648,775$1,088,374$804,518$2,603,222
77$2,862,717$1,085,472$775,237$2,796,915
78$3,096,711$1,080,657$743,204$3,008,560
79$3,352,745$1,073,778$708,270$3,239,953
80$3,633,009$1,064,678$670,282$3,493,067
81$3,939,917$1,053,188$629,077$3,770,081
82$4,276,124$1,039,130$584,487$4,073,394
83$4,644,555$1,022,314$536,334$4,405,647
84$5,048,433$1,002,541$484,434$4,769,755
85$5,491,306$979,598$428,595$5,168,926
86$5,977,082$953,260$368,616$5,606,696
87$6,510,065$923,291$304,285$6,086,962
88$7,094,997$889,437$235,384$6,614,020
89$7,737,100$851,434$161,683$7,192,600
90$8,442,129$808,998$82,944$7,827,918
91$9,216,419$761,832$0$8,525,721
92$10,066,952$709,620$0$9,292,412
93$11,001,419$652,030$0$10,140,571
94$12,028,293$588,708$0$11,072,592
95$13,156,906$519,282$0$12,096,969
96$14,397,542$443,359$0$13,223,061
97$15,761,531$360,522$0$14,461,184
98$17,261,352$270,333$0$15,822,703
99$18,910,758$172,327$0$17,320,142
100$20,724,898$66,015$0$18,967,301