Can I retire at age 63 with 962,000?

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 $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%11.7%
1 years$79,441$78,733$78,043$77,369$76,711$76,164
2 years$39,327$38,595$37,885$37,197$36,529$35,977
3 years$25,958$25,222$24,514$23,832$23,176$22,636
4 years$19,274$18,541$17,840$17,170$16,529$16,006
5 years$15,265$14,536$13,845$13,188$12,565$12,061
6 years$12,593$11,870$11,188$10,547$9,942$9,457
7 years$10,686$9,968$9,298$8,671$8,086$7,619
8 years$9,256$8,545$7,885$7,274$6,708$6,260
9 years$8,144$7,440$6,791$6,196$5,649$5,221
10 years$7,255$6,558$5,921$5,341$4,813$4,404
11 years$6,528$5,838$5,213$4,648$4,140$3,748
12 years$5,923$5,240$4,626$4,077$3,587$3,214
13 years$5,411$4,735$4,133$3,599$3,128$2,773
14 years$4,973$4,304$3,714$3,195$2,742$2,404
15 years$4,594$3,932$3,353$2,849$2,414$2,093
16 years$4,262$3,608$3,040$2,551$2,134$1,829
17 years$3,970$3,322$2,766$2,292$1,892$1,603
18 years$3,710$3,070$2,525$2,066$1,682$1,408
19 years$3,478$2,845$2,312$1,867$1,499$1,240
20 years$3,270$2,644$2,122$1,691$1,339$1,094
21 years$3,081$2,463$1,951$1,534$1,199$967
22 years$2,910$2,299$1,799$1,395$1,074$856
23 years$2,754$2,150$1,661$1,271$964$759
24 years$2,611$2,015$1,536$1,159$867$673
25 years$2,480$1,891$1,422$1,058$780$598
26 years$2,359$1,777$1,319$968$703$532
27 years$2,248$1,672$1,225$886$633$473
28 years$2,144$1,576$1,139$812$572$421
29 years$2,048$1,486$1,060$744$516$375
30 years$1,958$1,404$987$683$466$334
31 years$1,875$1,327$920$627$422$298
32 years$1,796$1,256$859$576$381$266
33 years$1,723$1,189$802$530$345$237
34 years$1,654$1,127$749$488$312$212
35 years$1,589$1,069$700$449$283$189
36 years$1,528$1,015$655$414$256$169
37 years$1,470$964$613$381$232$151
38 years$1,416$916$574$351$211$135
39 years$1,364$871$538$324$191$121
40 years$1,315$829$504$299$173$108
41 years$1,269$789$473$276$157$96
42 years$1,225$751$444$254$143$86
43 years$1,183$716$416$235$129$77
44 years$1,143$682$391$217$118$69
45 years$1,105$651$367$200$107$62
46 years$1,069$621$345$185$97$55
47 years$1,034$592$324$171$88$49
48 years$1,001$565$304$158$80$44
49 years$969$540$286$146$73$40
50 years$939$516$269$135$66$35

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $962,000, adding $3,574 every year, while hoping to spend $20,259 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: 59/31/10 Blend
62$962,000$962,000$962,000$962,000
63$1,063,811$1,012,825$997,914$1,123,873
64$1,150,764$1,040,898$1,009,788$1,192,752
65$1,245,907$1,069,667$1,021,382$1,265,219
66$1,350,055$1,099,146$1,032,663$1,343,741
67$1,464,103$1,129,347$1,043,600$1,428,901
68$1,589,040$1,160,282$1,054,158$1,521,342
69$1,725,950$1,191,965$1,064,302$1,621,771
70$1,876,033$1,224,407$1,073,992$1,730,965
71$2,040,607$1,257,622$1,083,188$1,849,784
72$2,221,123$1,291,620$1,091,850$1,979,169
73$2,419,182$1,326,413$1,099,931$2,120,161
74$2,636,545$1,362,014$1,107,385$2,273,905
75$2,875,154$1,398,434$1,114,164$2,441,660
76$3,137,145$1,435,683$1,120,214$2,624,815
77$3,424,875$1,473,772$1,125,482$2,824,899
78$3,740,936$1,512,711$1,129,910$3,043,596
79$4,088,188$1,552,510$1,133,438$3,282,762
80$4,469,778$1,593,178$1,136,003$3,544,439
81$4,889,175$1,634,723$1,137,539$3,830,879
82$5,350,201$1,677,154$1,137,976$4,144,562
83$5,857,064$1,720,477$1,137,241$4,488,221
84$6,414,403$1,764,700$1,135,257$4,864,863
85$7,027,329$1,809,826$1,131,944$5,277,807
86$7,701,470$1,855,861$1,127,218$5,730,704
87$8,443,030$1,902,809$1,120,991$6,227,581
88$9,258,844$1,950,672$1,113,169$6,772,872
89$10,156,442$1,999,450$1,103,656$7,371,464
90$11,144,120$2,049,144$1,092,349$8,028,740
91$12,231,021$2,099,753$1,079,143$8,750,634
92$13,427,217$2,151,273$1,063,926$9,543,681
93$14,743,807$2,203,698$1,046,581$10,415,084
94$16,193,019$2,257,024$1,026,986$11,372,781
95$17,788,330$2,311,241$1,005,013$12,425,515
96$19,544,587$2,366,339$980,528$13,582,925
97$21,478,150$2,422,305$953,391$14,855,628
98$23,607,047$2,479,124$923,456$16,255,326
99$25,951,143$2,536,777$890,568$17,794,913
100$28,532,325$2,595,246$854,568$19,488,597