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%12.5%
1 years$79,276$78,570$77,881$77,208$76,552$75,752
2 years$39,245$38,515$37,806$37,119$36,453$35,648
3 years$25,904$25,170$24,463$23,783$23,127$22,342
4 years$19,234$18,502$17,803$17,134$16,495$15,734
5 years$15,234$14,506$13,816$13,161$12,539$11,806
6 years$12,567$11,845$11,165$10,525$9,922$9,218
7 years$10,664$9,948$9,278$8,653$8,069$7,394
8 years$9,236$8,527$7,869$7,259$6,694$6,047
9 years$8,127$7,424$6,777$6,183$5,637$5,019
10 years$7,240$6,544$5,909$5,330$4,803$4,213
11 years$6,515$5,826$5,202$4,638$4,131$3,569
12 years$5,911$5,229$4,617$4,068$3,580$3,045
13 years$5,400$4,725$4,125$3,592$3,122$2,613
14 years$4,963$4,295$3,706$3,188$2,736$2,254
15 years$4,584$3,924$3,346$2,844$2,409$1,952
16 years$4,253$3,600$3,034$2,546$2,129$1,696
17 years$3,961$3,316$2,760$2,288$1,888$1,478
18 years$3,702$3,064$2,520$2,062$1,679$1,291
19 years$3,471$2,839$2,307$1,863$1,496$1,131
20 years$3,263$2,639$2,117$1,687$1,337$992
21 years$3,075$2,458$1,947$1,531$1,196$872
22 years$2,904$2,294$1,795$1,392$1,072$767
23 years$2,748$2,146$1,657$1,268$962$676
24 years$2,606$2,010$1,533$1,156$865$596
25 years$2,475$1,887$1,420$1,056$778$526
26 years$2,354$1,773$1,317$966$701$465
27 years$2,243$1,669$1,223$884$632$411
28 years$2,140$1,572$1,136$810$570$363
29 years$2,044$1,483$1,058$743$515$322
30 years$1,954$1,401$985$682$465$285
31 years$1,871$1,324$918$626$421$252
32 years$1,792$1,253$857$575$381$224
33 years$1,719$1,187$800$529$344$198
34 years$1,650$1,125$748$487$312$176
35 years$1,586$1,067$699$448$282$156
36 years$1,525$1,013$654$413$256$138
37 years$1,467$962$612$380$232$123
38 years$1,413$914$573$350$210$109
39 years$1,361$869$537$323$191$97
40 years$1,312$827$503$298$173$86
41 years$1,266$787$472$275$157$76
42 years$1,222$750$443$254$142$68
43 years$1,180$714$415$234$129$60
44 years$1,141$681$390$216$117$53
45 years$1,103$649$366$200$106$47
46 years$1,067$619$344$185$97$42
47 years$1,032$591$323$170$88$37
48 years$999$564$304$158$80$33
49 years$967$539$285$146$72$30
50 years$937$515$268$135$66$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $960,000, adding $5,065 every year, while hoping to spend $49,026 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: 75/5/20 Blend
62$960,000$960,000$960,000$960,000
63$1,063,145$1,012,265$997,385$1,137,494
64$1,119,422$1,009,702$978,634$1,184,913
65$1,179,797$1,005,371$957,611$1,230,380
66$1,244,635$999,133$934,190$1,278,946
67$1,314,338$990,841$908,236$1,330,905
68$1,389,347$980,339$879,609$1,386,587
69$1,470,147$967,463$848,163$1,446,353
70$1,557,270$952,036$813,744$1,510,601
71$1,651,301$933,875$776,193$1,579,772
72$1,752,881$912,782$735,343$1,654,353
73$1,862,716$888,550$691,019$1,734,879
74$1,981,583$860,958$643,037$1,821,943
75$2,110,333$829,774$591,207$1,916,198
76$2,249,904$794,750$535,330$2,018,365
77$2,401,328$755,627$475,197$2,129,240
78$2,565,738$712,127$410,591$2,249,699
79$2,744,381$663,959$341,283$2,380,713
80$2,938,629$610,814$267,038$2,523,349
81$3,149,991$552,366$187,606$2,678,787
82$3,380,129$488,271$102,729$2,848,329
83$3,630,869$418,163$12,138$3,033,409
84$3,904,223$341,658$0$3,235,612
85$4,202,403$258,349$0$3,474,725
86$4,527,846$167,806$0$3,738,574
87$4,883,234$69,576$0$4,026,756
88$5,271,517$0$0$4,341,686
89$5,695,947$0$0$4,688,049
90$6,160,101$0$0$5,071,053
91$6,667,918$0$0$5,490,125
92$7,223,737$0$0$5,948,851
93$7,832,333$0$0$6,451,176
94$8,498,967$0$0$7,001,448
95$9,229,431$0$0$7,604,454
96$10,030,105$0$0$8,265,465
97$10,908,015$0$0$8,990,289
98$11,870,899$0$0$9,785,319
99$12,927,280$0$0$10,657,600
100$14,086,548$0$0$11,614,891