Can I retire at age 63 with 954,000?

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 $954,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.5%
1 years$78,780$78,079$77,394$76,726$76,073$73,756
2 years$39,000$38,274$37,570$36,887$36,225$33,911
3 years$25,742$25,012$24,310$23,634$22,983$20,744
4 years$19,114$18,387$17,692$17,027$16,392$14,245
5 years$15,138$14,415$13,729$13,078$12,461$10,412
6 years$12,489$11,771$11,095$10,459$9,860$7,911
7 years$10,597$9,886$9,220$8,599$8,019$6,169
8 years$9,179$8,474$7,820$7,213$6,652$4,902
9 years$8,076$7,378$6,735$6,144$5,602$3,948
10 years$7,195$6,503$5,872$5,296$4,773$3,214
11 years$6,474$5,789$5,169$4,609$4,105$2,637
12 years$5,874$5,196$4,588$4,043$3,557$2,178
13 years$5,366$4,696$4,099$3,569$3,102$1,808
14 years$4,932$4,268$3,683$3,169$2,719$1,508
15 years$4,556$3,899$3,325$2,826$2,394$1,261
16 years$4,227$3,578$3,015$2,530$2,116$1,058
17 years$3,937$3,295$2,743$2,273$1,876$889
18 years$3,679$3,045$2,504$2,049$1,668$749
19 years$3,449$2,822$2,292$1,851$1,487$632
20 years$3,242$2,622$2,104$1,677$1,328$534
21 years$3,055$2,442$1,935$1,522$1,189$452
22 years$2,886$2,280$1,784$1,384$1,065$383
23 years$2,731$2,132$1,647$1,260$956$324
24 years$2,590$1,998$1,523$1,149$860$275
25 years$2,460$1,875$1,411$1,050$774$233
26 years$2,340$1,762$1,308$960$697$198
27 years$2,229$1,658$1,215$878$628$168
28 years$2,126$1,563$1,129$805$567$143
29 years$2,031$1,474$1,051$738$512$121
30 years$1,942$1,392$979$677$462$103
31 years$1,859$1,316$913$622$418$88
32 years$1,781$1,245$852$572$378$74
33 years$1,708$1,179$795$526$342$63
34 years$1,640$1,118$743$484$310$54
35 years$1,576$1,060$695$445$281$46
36 years$1,515$1,006$650$410$254$39
37 years$1,458$956$608$378$230$33
38 years$1,404$908$569$348$209$28
39 years$1,353$864$534$321$189$24
40 years$1,304$822$500$296$172$20
41 years$1,258$782$469$273$156$17
42 years$1,215$745$440$252$141$15
43 years$1,173$710$413$233$128$13
44 years$1,133$677$387$215$117$11
45 years$1,096$645$364$199$106$9
46 years$1,060$615$342$183$96$8
47 years$1,026$587$321$169$87$7
48 years$993$561$302$157$79$6
49 years$961$535$284$145$72$5
50 years$931$511$267$134$65$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $954,000, adding $4,936 every year, while hoping to spend $20,339 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: 30/43/27 Blend
62$954,000$954,000$954,000$954,000
63$1,056,399$1,005,837$991,050$1,079,187
64$1,142,512$1,033,483$1,002,610$1,124,975
65$1,236,726$1,061,801$1,013,875$1,172,080
66$1,339,846$1,090,804$1,024,815$1,222,350
67$1,452,760$1,120,503$1,035,395$1,276,072
68$1,576,443$1,150,909$1,045,582$1,333,564
69$1,711,969$1,182,033$1,055,339$1,395,178
70$1,860,524$1,213,886$1,064,626$1,461,298
71$2,023,409$1,246,479$1,073,404$1,532,349
72$2,202,063$1,279,822$1,081,628$1,608,798
73$2,398,065$1,313,925$1,089,254$1,691,160
74$2,613,158$1,348,798$1,096,235$1,780,003
75$2,849,261$1,384,450$1,102,520$1,875,950
76$3,108,488$1,420,890$1,108,056$1,979,691
77$3,393,167$1,458,127$1,112,789$2,091,983
78$3,705,863$1,496,168$1,116,661$2,213,662
79$4,049,402$1,535,021$1,119,610$2,345,648
80$4,426,896$1,574,692$1,121,572$2,488,955
81$4,841,775$1,615,188$1,122,480$2,644,702
82$5,297,816$1,656,512$1,122,264$2,814,120
83$5,799,183$1,698,671$1,120,849$2,998,565
84$6,350,460$1,741,666$1,118,158$3,199,535
85$6,956,700$1,785,501$1,114,109$3,418,678
86$7,623,469$1,830,176$1,108,617$3,657,810
87$8,356,900$1,875,691$1,101,593$3,918,934
88$9,163,749$1,922,046$1,092,942$4,204,258
89$10,051,462$1,969,237$1,082,566$4,516,215
90$11,028,242$2,017,260$1,070,363$4,857,484
91$12,103,126$2,066,109$1,056,224$5,231,023
92$13,286,074$2,115,778$1,040,036$5,640,088
93$14,588,058$2,166,255$1,021,682$6,088,270
94$16,021,169$2,217,530$1,001,037$6,579,526
95$17,598,728$2,269,590$977,972$7,118,218
96$19,335,416$2,322,417$952,351$7,709,155
97$21,247,407$2,375,994$924,033$8,357,635
98$23,352,523$2,430,299$892,870$9,069,501
99$25,670,405$2,485,308$858,705$9,851,192
100$28,222,693$2,540,994$821,378$10,709,803