Can I retire at age 63 with 962,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $962,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.1%
1 years$79,441$78,733$78,043$77,369$76,711$74,196
2 years$39,327$38,595$37,885$37,197$36,529$34,019
3 years$25,958$25,222$24,514$23,832$23,176$20,750
4 years$19,274$18,541$17,840$17,170$16,529$14,206
5 years$15,265$14,536$13,845$13,188$12,565$10,351
6 years$12,593$11,870$11,188$10,547$9,942$7,838
7 years$10,686$9,968$9,298$8,671$8,086$6,092
8 years$9,256$8,545$7,885$7,274$6,708$4,823
9 years$8,144$7,440$6,791$6,196$5,649$3,871
10 years$7,255$6,558$5,921$5,341$4,813$3,139
11 years$6,528$5,838$5,213$4,648$4,140$2,566
12 years$5,923$5,240$4,626$4,077$3,587$2,111
13 years$5,411$4,735$4,133$3,599$3,128$1,745
14 years$4,973$4,304$3,714$3,195$2,742$1,449
15 years$4,594$3,932$3,353$2,849$2,414$1,207
16 years$4,262$3,608$3,040$2,551$2,134$1,008
17 years$3,970$3,322$2,766$2,292$1,892$844
18 years$3,710$3,070$2,525$2,066$1,682$708
19 years$3,478$2,845$2,312$1,867$1,499$594
20 years$3,270$2,644$2,122$1,691$1,339$500
21 years$3,081$2,463$1,951$1,534$1,199$421
22 years$2,910$2,299$1,799$1,395$1,074$355
23 years$2,754$2,150$1,661$1,271$964$299
24 years$2,611$2,015$1,536$1,159$867$252
25 years$2,480$1,891$1,422$1,058$780$213
26 years$2,359$1,777$1,319$968$703$180
27 years$2,248$1,672$1,225$886$633$152
28 years$2,144$1,576$1,139$812$572$129
29 years$2,048$1,486$1,060$744$516$109
30 years$1,958$1,404$987$683$466$92
31 years$1,875$1,327$920$627$422$78
32 years$1,796$1,256$859$576$381$66
33 years$1,723$1,189$802$530$345$56
34 years$1,654$1,127$749$488$312$47
35 years$1,589$1,069$700$449$283$40
36 years$1,528$1,015$655$414$256$34
37 years$1,470$964$613$381$232$29
38 years$1,416$916$574$351$211$24
39 years$1,364$871$538$324$191$20
40 years$1,315$829$504$299$173$17
41 years$1,269$789$473$276$157$15
42 years$1,225$751$444$254$143$12
43 years$1,183$716$416$235$129$11
44 years$1,143$682$391$217$118$9
45 years$1,105$651$367$200$107$8
46 years$1,069$621$345$185$97$6
47 years$1,034$592$324$171$88$5
48 years$1,001$565$304$158$80$5
49 years$969$540$286$146$73$4
50 years$939$516$269$135$66$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $962,000, adding $4,683 every year, while hoping to spend $20,836 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: 70/7/23 Blend
62$962,000$962,000$962,000$962,000
63$1,064,955$1,013,969$999,058$1,133,044
64$1,151,411$1,041,484$1,010,357$1,206,671
65$1,245,987$1,069,649$1,021,336$1,284,362
66$1,349,489$1,098,473$1,031,963$1,368,907
67$1,462,806$1,127,968$1,042,202$1,460,980
68$1,586,915$1,158,141$1,052,019$1,561,330
69$1,722,892$1,189,001$1,061,373$1,670,778
70$1,871,924$1,220,559$1,070,226$1,790,230
71$2,035,315$1,252,822$1,078,534$1,920,683
72$2,214,505$1,285,798$1,086,252$2,063,238
73$2,411,078$1,319,494$1,093,334$2,219,106
74$2,626,777$1,353,919$1,099,731$2,389,621
75$2,863,525$1,389,078$1,105,389$2,576,254
76$3,123,440$1,424,978$1,110,254$2,780,626
77$3,408,853$1,461,624$1,114,270$3,004,522
78$3,722,332$1,499,020$1,117,374$3,249,910
79$4,066,709$1,537,171$1,119,505$3,518,959
80$4,445,100$1,576,079$1,120,595$3,814,058
81$4,860,940$1,615,746$1,120,575$4,137,839
82$5,318,012$1,656,175$1,119,370$4,493,205
83$5,820,485$1,697,363$1,116,905$4,883,352
84$6,372,952$1,739,311$1,113,099$5,311,804
85$6,980,472$1,782,016$1,107,866$5,782,444
86$7,648,619$1,825,474$1,101,119$6,299,551
87$8,383,536$1,869,680$1,092,764$6,867,840
88$9,191,989$1,914,627$1,082,704$7,492,508
89$10,081,435$1,960,306$1,070,838$8,179,280
90$11,060,087$2,006,707$1,057,057$8,934,470
91$12,136,998$2,053,818$1,041,250$9,765,030
92$13,322,141$2,101,624$1,023,301$10,678,626
93$14,626,503$2,150,108$1,003,086$11,683,703
94$16,062,195$2,199,251$980,477$12,789,572
95$17,642,556$2,249,032$955,340$14,006,489
96$19,382,287$2,299,425$927,535$15,345,759
97$21,297,587$2,350,403$896,914$16,819,842
98$23,406,305$2,401,937$863,324$18,442,466
99$25,728,107$2,453,990$826,605$20,228,764
100$28,284,665$2,506,527$786,587$22,195,409