Can I retire at age 63 with 960,000?

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 $960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$79,276$78,570$77,881$77,208$76,552$74,580
2 years$39,245$38,515$37,806$37,119$36,453$34,480
3 years$25,904$25,170$24,463$23,783$23,127$21,214
4 years$19,234$18,502$17,803$17,134$16,495$14,656
5 years$15,234$14,506$13,816$13,161$12,539$10,781
6 years$12,567$11,845$11,165$10,525$9,922$8,245
7 years$10,664$9,948$9,278$8,653$8,069$6,474
8 years$9,236$8,527$7,869$7,259$6,694$5,180
9 years$8,127$7,424$6,777$6,183$5,637$4,203
10 years$7,240$6,544$5,909$5,330$4,803$3,447
11 years$6,515$5,826$5,202$4,638$4,131$2,850
12 years$5,911$5,229$4,617$4,068$3,580$2,373
13 years$5,400$4,725$4,125$3,592$3,122$1,986
14 years$4,963$4,295$3,706$3,188$2,736$1,669
15 years$4,584$3,924$3,346$2,844$2,409$1,408
16 years$4,253$3,600$3,034$2,546$2,129$1,192
17 years$3,961$3,316$2,760$2,288$1,888$1,011
18 years$3,702$3,064$2,520$2,062$1,679$859
19 years$3,471$2,839$2,307$1,863$1,496$731
20 years$3,263$2,639$2,117$1,687$1,337$624
21 years$3,075$2,458$1,947$1,531$1,196$532
22 years$2,904$2,294$1,795$1,392$1,072$455
23 years$2,748$2,146$1,657$1,268$962$389
24 years$2,606$2,010$1,533$1,156$865$333
25 years$2,475$1,887$1,420$1,056$778$285
26 years$2,354$1,773$1,317$966$701$245
27 years$2,243$1,669$1,223$884$632$210
28 years$2,140$1,572$1,136$810$570$180
29 years$2,044$1,483$1,058$743$515$154
30 years$1,954$1,401$985$682$465$132
31 years$1,871$1,324$918$626$421$114
32 years$1,792$1,253$857$575$381$98
33 years$1,719$1,187$800$529$344$84
34 years$1,650$1,125$748$487$312$72
35 years$1,586$1,067$699$448$282$62
36 years$1,525$1,013$654$413$256$53
37 years$1,467$962$612$380$232$46
38 years$1,413$914$573$350$210$39
39 years$1,361$869$537$323$191$34
40 years$1,312$827$503$298$173$29
41 years$1,266$787$472$275$157$25
42 years$1,222$750$443$254$142$21
43 years$1,180$714$415$234$129$18
44 years$1,141$681$390$216$117$16
45 years$1,103$649$366$200$106$14
46 years$1,067$619$344$185$97$12
47 years$1,032$591$323$170$88$10
48 years$999$564$304$158$80$9
49 years$967$539$285$146$72$7
50 years$937$515$268$135$66$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $960,000, adding $5,876 every year, while hoping to spend $43,895 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: 48/31/21 Blend
62$960,000$960,000$960,000$960,000
63$1,063,981$1,013,101$998,221$1,108,471
64$1,125,803$1,016,039$984,958$1,143,006
65$1,192,460$1,017,650$969,779$1,175,598
66$1,264,398$1,017,822$952,573$1,210,081
67$1,342,109$1,016,437$933,227$1,246,649
68$1,426,132$1,013,370$911,617$1,285,521
69$1,517,059$1,008,487$887,618$1,326,940
70$1,615,543$1,001,647$861,098$1,371,176
71$1,722,300$992,700$831,916$1,418,530
72$1,838,119$981,486$799,930$1,469,334
73$1,963,866$967,838$764,986$1,523,961
74$2,100,494$951,575$726,926$1,582,822
75$2,249,052$932,510$685,586$1,646,374
76$2,410,693$910,442$640,792$1,715,125
77$2,586,688$885,157$592,362$1,789,637
78$2,778,432$856,432$540,108$1,870,537
79$2,987,463$824,028$483,833$1,958,517
80$3,215,472$787,694$423,329$2,054,344
81$3,464,323$747,163$358,383$2,158,872
82$3,736,063$702,153$288,768$2,273,044
83$4,032,950$652,367$214,250$2,397,905
84$4,357,467$597,489$134,584$2,534,615
85$4,712,349$537,187$49,513$2,684,455
86$5,100,608$471,108$0$2,848,847
87$5,525,558$398,881$0$3,038,610
88$5,990,851$320,112$0$3,258,679
89$6,500,507$234,387$0$3,499,938
90$7,058,954$141,266$0$3,764,586
91$7,671,067$40,288$0$4,055,051
92$8,342,216$0$0$4,374,016
93$9,078,317$0$0$4,747,989
94$9,885,884$0$0$5,173,456
95$10,772,093$0$0$5,640,468
96$11,744,847$0$0$6,153,203
97$12,812,853$0$0$6,716,266
98$13,985,701$0$0$7,334,728
99$15,273,957$0$0$8,014,174
100$16,689,259$0$0$8,760,761