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%14.9%
1 years$79,441$78,733$78,043$77,369$76,711$75,162
2 years$39,327$38,595$37,885$37,197$36,529$34,976
3 years$25,958$25,222$24,514$23,832$23,176$21,666
4 years$19,274$18,541$17,840$17,170$16,529$15,074
5 years$15,265$14,536$13,845$13,188$12,565$11,170
6 years$12,593$11,870$11,188$10,547$9,942$8,608
7 years$10,686$9,968$9,298$8,671$8,086$6,813
8 years$9,256$8,545$7,885$7,274$6,708$5,496
9 years$8,144$7,440$6,791$6,196$5,649$4,497
10 years$7,255$6,558$5,921$5,341$4,813$3,720
11 years$6,528$5,838$5,213$4,648$4,140$3,104
12 years$5,923$5,240$4,626$4,077$3,587$2,608
13 years$5,411$4,735$4,133$3,599$3,128$2,203
14 years$4,973$4,304$3,714$3,195$2,742$1,870
15 years$4,594$3,932$3,353$2,849$2,414$1,593
16 years$4,262$3,608$3,040$2,551$2,134$1,361
17 years$3,970$3,322$2,766$2,292$1,892$1,166
18 years$3,710$3,070$2,525$2,066$1,682$1,001
19 years$3,478$2,845$2,312$1,867$1,499$862
20 years$3,270$2,644$2,122$1,691$1,339$742
21 years$3,081$2,463$1,951$1,534$1,199$641
22 years$2,910$2,299$1,799$1,395$1,074$553
23 years$2,754$2,150$1,661$1,271$964$479
24 years$2,611$2,015$1,536$1,159$867$414
25 years$2,480$1,891$1,422$1,058$780$359
26 years$2,359$1,777$1,319$968$703$311
27 years$2,248$1,672$1,225$886$633$270
28 years$2,144$1,576$1,139$812$572$234
29 years$2,048$1,486$1,060$744$516$203
30 years$1,958$1,404$987$683$466$176
31 years$1,875$1,327$920$627$422$153
32 years$1,796$1,256$859$576$381$133
33 years$1,723$1,189$802$530$345$116
34 years$1,654$1,127$749$488$312$101
35 years$1,589$1,069$700$449$283$87
36 years$1,528$1,015$655$414$256$76
37 years$1,470$964$613$381$232$66
38 years$1,416$916$574$351$211$57
39 years$1,364$871$538$324$191$50
40 years$1,315$829$504$299$173$43
41 years$1,269$789$473$276$157$38
42 years$1,225$751$444$254$143$33
43 years$1,183$716$416$235$129$29
44 years$1,143$682$391$217$118$25
45 years$1,105$651$367$200$107$22
46 years$1,069$621$345$185$97$19
47 years$1,034$592$324$171$88$16
48 years$1,001$565$304$158$80$14
49 years$969$540$286$146$73$12
50 years$939$516$269$135$66$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $962,000, adding $3,756 every year, while hoping to spend $44,420 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: 46/31/23 Blend
62$962,000$962,000$962,000$962,000
63$1,063,998$1,013,012$998,101$1,105,767
64$1,125,264$1,015,387$984,275$1,137,879
65$1,191,289$1,016,390$968,497$1,168,028
66$1,262,514$1,015,906$950,655$1,199,842
67$1,339,419$1,013,815$930,631$1,233,498
68$1,422,535$1,009,987$908,302$1,269,192
69$1,512,443$1,004,286$883,540$1,307,146
70$1,609,783$996,567$856,209$1,347,605
71$1,715,259$986,676$826,170$1,390,841
72$1,829,644$974,452$793,275$1,437,159
73$1,953,788$959,720$757,370$1,486,898
74$2,088,626$942,298$718,294$1,540,434
75$2,235,188$921,993$675,879$1,598,185
76$2,394,605$898,598$629,948$1,660,617
77$2,568,122$871,897$580,319$1,728,248
78$2,757,110$841,660$526,800$1,801,651
79$2,963,077$807,643$469,189$1,881,463
80$3,187,682$769,588$407,278$1,968,394
81$3,432,751$727,224$340,847$2,063,228
82$3,700,295$680,261$269,669$2,166,836
83$3,992,526$628,395$193,504$2,280,184
84$4,311,882$571,304$112,104$2,404,345
85$4,661,043$508,647$25,209$2,540,504
86$5,042,963$440,065$0$2,689,978
87$5,460,894$365,176$0$2,870,795
88$5,918,415$283,580$0$3,075,677
89$6,419,470$194,852$0$3,300,292
90$6,968,400$98,543$0$3,546,694
91$7,569,985$0$0$3,817,153
92$8,229,494$0$0$4,116,159
93$8,952,724$0$0$4,481,030
94$9,746,064$0$0$4,881,385
95$10,616,550$0$0$5,320,790
96$11,571,931$0$0$5,803,172
97$12,620,745$0$0$6,332,857
98$13,772,395$0$0$6,914,608
99$15,037,240$0$0$7,553,676
100$16,426,691$0$0$8,255,843