Can I retire at age 63 with 958,000?

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 $958,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$79,111$78,406$77,719$77,048$76,392$76,038
2 years$39,164$38,434$37,727$37,042$36,377$36,020
3 years$25,850$25,117$24,412$23,733$23,079$22,730
4 years$19,194$18,464$17,766$17,098$16,460$16,121
5 years$15,202$14,476$13,787$13,133$12,513$12,185
6 years$12,541$11,821$11,142$10,503$9,901$9,585
7 years$10,641$9,927$9,259$8,635$8,052$7,748
8 years$9,217$8,509$7,852$7,244$6,680$6,388
9 years$8,110$7,409$6,763$6,170$5,626$5,346
10 years$7,225$6,531$5,896$5,319$4,793$4,525
11 years$6,501$5,814$5,191$4,629$4,122$3,866
12 years$5,898$5,218$4,607$4,060$3,572$3,328
13 years$5,389$4,716$4,116$3,584$3,115$2,882
14 years$4,952$4,286$3,698$3,182$2,731$2,508
15 years$4,575$3,916$3,339$2,838$2,404$2,192
16 years$4,244$3,593$3,027$2,541$2,125$1,924
17 years$3,953$3,309$2,755$2,283$1,884$1,693
18 years$3,695$3,057$2,515$2,057$1,675$1,494
19 years$3,464$2,833$2,302$1,859$1,493$1,321
20 years$3,256$2,633$2,113$1,684$1,334$1,171
21 years$3,068$2,453$1,943$1,528$1,194$1,039
22 years$2,898$2,289$1,791$1,389$1,070$924
23 years$2,743$2,141$1,654$1,265$960$823
24 years$2,600$2,006$1,529$1,154$863$734
25 years$2,470$1,883$1,417$1,054$777$655
26 years$2,350$1,769$1,314$964$700$585
27 years$2,238$1,665$1,220$882$631$523
28 years$2,135$1,569$1,134$808$569$467
29 years$2,039$1,480$1,055$741$514$418
30 years$1,950$1,398$983$680$464$375
31 years$1,867$1,322$916$625$420$336
32 years$1,789$1,250$855$574$380$301
33 years$1,716$1,184$798$528$344$270
34 years$1,647$1,122$746$486$311$242
35 years$1,582$1,065$697$447$282$217
36 years$1,522$1,010$652$412$255$195
37 years$1,464$960$611$379$231$175
38 years$1,410$912$572$350$210$157
39 years$1,358$867$536$322$190$141
40 years$1,310$825$502$297$173$127
41 years$1,264$785$471$274$157$114
42 years$1,220$748$442$253$142$103
43 years$1,178$713$414$234$129$92
44 years$1,138$679$389$216$117$83
45 years$1,100$648$365$199$106$75
46 years$1,064$618$343$184$96$67
47 years$1,030$590$322$170$88$60
48 years$997$563$303$157$80$54
49 years$965$538$285$145$72$49
50 years$935$514$268$134$66$44

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $958,000, adding $2,514 every year, while hoping to spend $49,913 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: 56/20/24 Blend
62$958,000$958,000$958,000$958,000
63$1,058,309$1,007,535$992,686$1,110,516
64$1,113,150$1,003,797$972,834$1,142,826
65$1,171,911$998,204$950,644$1,172,537
66$1,234,940$990,610$925,985$1,203,853
67$1,302,619$980,864$898,720$1,236,945
68$1,375,365$968,805$868,706$1,272,001
69$1,453,637$954,262$835,793$1,309,231
70$1,537,939$937,052$799,823$1,348,870
71$1,628,825$916,984$760,633$1,391,177
72$1,726,903$893,854$718,052$1,436,444
73$1,832,841$867,446$671,901$1,484,994
74$1,947,373$837,534$621,992$1,537,185
75$2,071,306$803,874$568,130$1,593,416
76$2,205,528$766,212$510,110$1,654,130
77$2,351,013$724,277$447,720$1,719,820
78$2,508,833$677,784$380,736$1,791,034
79$2,680,169$626,431$308,926$1,868,376
80$2,866,318$569,897$232,046$1,952,522
81$3,068,706$507,846$149,843$2,044,217
82$3,288,903$439,919$62,052$2,144,291
83$3,528,637$365,741$0$2,253,662
84$3,789,808$284,912$0$2,381,449
85$4,074,508$197,012$0$2,538,163
86$4,385,038$101,597$0$2,709,224
87$4,723,933$0$0$2,896,097
88$5,093,982$0$0$3,100,795
89$5,498,254$0$0$3,348,931
90$5,940,129$0$0$3,620,230
91$6,423,328$0$0$3,916,988
92$6,951,950$0$0$4,241,730
93$7,530,504$0$0$4,597,241
94$8,163,958$0$0$4,986,584
95$8,857,783$0$0$5,413,133
96$9,618,003$0$0$5,880,605
97$10,451,252$0$0$6,393,092
98$11,364,837$0$0$6,955,101
99$12,366,806$0$0$7,571,597
100$13,466,022$0$0$8,248,049