Can I retire at age 63 with 956,000?

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 $956,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.4%
1 years$78,946$78,242$77,556$76,887$76,233$74,847
2 years$39,082$38,354$37,649$36,965$36,301$34,910
3 years$25,796$25,065$24,361$23,684$23,031$21,678
4 years$19,154$18,425$17,729$17,063$16,426$15,121
5 years$15,170$14,446$13,758$13,106$12,487$11,234
6 years$12,515$11,796$11,119$10,481$9,880$8,681
7 years$10,619$9,906$9,240$8,617$8,035$6,890
8 years$9,198$8,491$7,836$7,228$6,666$5,574
9 years$8,093$7,393$6,749$6,157$5,614$4,574
10 years$7,210$6,517$5,884$5,307$4,783$3,796
11 years$6,488$5,802$5,180$4,619$4,114$3,177
12 years$5,886$5,207$4,597$4,052$3,565$2,678
13 years$5,378$4,706$4,107$3,577$3,109$2,270
14 years$4,942$4,277$3,691$3,175$2,725$1,933
15 years$4,565$3,908$3,332$2,832$2,399$1,652
16 years$4,235$3,585$3,021$2,535$2,121$1,417
17 years$3,945$3,302$2,749$2,278$1,880$1,218
18 years$3,687$3,051$2,509$2,053$1,672$1,050
19 years$3,456$2,828$2,297$1,855$1,490$907
20 years$3,249$2,628$2,108$1,680$1,331$784
21 years$3,062$2,447$1,939$1,525$1,191$679
22 years$2,892$2,285$1,787$1,386$1,068$589
23 years$2,737$2,137$1,650$1,263$958$512
24 years$2,595$2,002$1,526$1,152$861$444
25 years$2,465$1,879$1,414$1,052$775$387
26 years$2,345$1,766$1,311$962$698$336
27 years$2,234$1,662$1,217$880$630$293
28 years$2,131$1,566$1,132$806$568$255
29 years$2,035$1,477$1,053$740$513$222
30 years$1,946$1,395$981$679$463$194
31 years$1,863$1,319$915$623$419$169
32 years$1,785$1,248$853$573$379$148
33 years$1,712$1,182$797$527$343$129
34 years$1,644$1,120$744$485$311$112
35 years$1,579$1,062$696$446$281$98
36 years$1,518$1,008$651$411$255$86
37 years$1,461$958$609$379$231$75
38 years$1,407$910$571$349$209$65
39 years$1,356$865$535$322$190$57
40 years$1,307$823$501$297$172$50
41 years$1,261$784$470$274$156$44
42 years$1,217$746$441$253$142$38
43 years$1,175$711$414$233$129$33
44 years$1,136$678$388$215$117$29
45 years$1,098$646$365$199$106$25
46 years$1,062$617$342$184$96$22
47 years$1,028$589$322$170$87$19
48 years$995$562$302$157$79$17
49 years$963$537$284$145$72$15
50 years$933$513$267$134$65$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $956,000, adding $5,691 every year, while hoping to spend $24,910 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: 82/9/9 Blend
62$956,000$956,000$956,000$956,000
63$1,059,382$1,008,714$993,896$1,144,446
64$1,140,935$1,031,637$1,000,688$1,223,884
65$1,229,972$1,054,849$1,006,872$1,307,184
66$1,327,229$1,078,336$1,012,402$1,397,879
67$1,433,518$1,102,086$1,017,229$1,496,698
68$1,549,732$1,126,084$1,021,302$1,604,442
69$1,676,855$1,150,312$1,024,565$1,721,992
70$1,815,969$1,174,752$1,026,963$1,850,321
71$1,968,267$1,199,385$1,028,436$1,990,498
72$2,135,063$1,224,187$1,028,921$2,143,702
73$2,317,802$1,249,134$1,028,352$2,311,232
74$2,518,076$1,274,201$1,026,661$2,494,518
75$2,737,640$1,299,357$1,023,774$2,695,135
76$2,978,425$1,324,571$1,019,617$2,914,818
77$3,242,559$1,349,810$1,014,108$3,155,481
78$3,532,385$1,375,035$1,007,166$3,419,229
79$3,850,485$1,400,208$998,702$3,708,383
80$4,199,701$1,425,286$988,626$4,025,501
81$4,583,166$1,450,220$976,840$4,373,398
82$5,004,330$1,474,962$963,246$4,755,179
83$5,466,994$1,499,457$947,736$5,174,263
84$5,975,344$1,523,648$930,202$5,634,419
85$6,533,994$1,547,471$910,529$6,139,797
86$7,148,025$1,570,860$888,595$6,694,974
87$7,823,035$1,593,744$864,274$7,304,989
88$8,565,192$1,616,045$837,435$7,975,396
89$9,381,292$1,637,682$807,940$8,712,316
90$10,278,822$1,658,566$775,643$9,522,492
91$11,266,029$1,678,603$740,395$10,413,355
92$12,352,003$1,697,693$702,037$11,393,095
93$13,546,756$1,715,729$660,404$12,470,733
94$14,861,322$1,732,597$615,325$13,656,214
95$16,307,857$1,748,174$566,618$14,960,494
96$17,899,755$1,762,331$514,096$16,395,646
97$19,651,774$1,774,930$457,563$17,974,977
98$21,580,176$1,785,822$396,812$19,713,147
99$23,702,878$1,794,852$331,629$21,626,314
100$26,039,624$1,801,852$261,791$23,732,281