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%15.9%
1 years$79,441$78,733$78,043$77,369$76,711$74,857
2 years$39,327$38,595$37,885$37,197$36,529$34,672
3 years$25,958$25,222$24,514$23,832$23,176$21,374
4 years$19,274$18,541$17,840$17,170$16,529$14,796
5 years$15,265$14,536$13,845$13,188$12,565$10,906
6 years$12,593$11,870$11,188$10,547$9,942$8,359
7 years$10,686$9,968$9,298$8,671$8,086$6,579
8 years$9,256$8,545$7,885$7,274$6,708$5,276
9 years$8,144$7,440$6,791$6,196$5,649$4,291
10 years$7,255$6,558$5,921$5,341$4,813$3,528
11 years$6,528$5,838$5,213$4,648$4,140$2,925
12 years$5,923$5,240$4,626$4,077$3,587$2,442
13 years$5,411$4,735$4,133$3,599$3,128$2,049
14 years$4,973$4,304$3,714$3,195$2,742$1,727
15 years$4,594$3,932$3,353$2,849$2,414$1,461
16 years$4,262$3,608$3,040$2,551$2,134$1,240
17 years$3,970$3,322$2,766$2,292$1,892$1,055
18 years$3,710$3,070$2,525$2,066$1,682$899
19 years$3,478$2,845$2,312$1,867$1,499$768
20 years$3,270$2,644$2,122$1,691$1,339$657
21 years$3,081$2,463$1,951$1,534$1,199$562
22 years$2,910$2,299$1,799$1,395$1,074$482
23 years$2,754$2,150$1,661$1,271$964$414
24 years$2,611$2,015$1,536$1,159$867$355
25 years$2,480$1,891$1,422$1,058$780$305
26 years$2,359$1,777$1,319$968$703$262
27 years$2,248$1,672$1,225$886$633$226
28 years$2,144$1,576$1,139$812$572$194
29 years$2,048$1,486$1,060$744$516$167
30 years$1,958$1,404$987$683$466$144
31 years$1,875$1,327$920$627$422$124
32 years$1,796$1,256$859$576$381$107
33 years$1,723$1,189$802$530$345$92
34 years$1,654$1,127$749$488$312$79
35 years$1,589$1,069$700$449$283$68
36 years$1,528$1,015$655$414$256$59
37 years$1,470$964$613$381$232$51
38 years$1,416$916$574$351$211$44
39 years$1,364$871$538$324$191$38
40 years$1,315$829$504$299$173$33
41 years$1,269$789$473$276$157$28
42 years$1,225$751$444$254$143$24
43 years$1,183$716$416$235$129$21
44 years$1,143$682$391$217$118$18
45 years$1,105$651$367$200$107$16
46 years$1,069$621$345$185$97$13
47 years$1,034$592$324$171$88$12
48 years$1,001$565$304$158$80$10
49 years$969$540$286$146$73$9
50 years$939$516$269$135$66$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $962,000, adding $3,194 every year, while hoping to spend $30,128 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: 79/16/5 Blend
62$962,000$962,000$962,000$962,000
63$1,063,419$1,012,433$997,522$1,146,968
64$1,139,831$1,029,986$998,883$1,219,693
65$1,223,028$1,047,389$999,279$1,295,155
66$1,313,670$1,064,604$998,648$1,377,016
67$1,412,483$1,081,588$996,921$1,465,899
68$1,520,266$1,098,296$994,028$1,562,487
69$1,637,900$1,114,680$989,895$1,667,536
70$1,766,354$1,130,687$984,444$1,781,877
71$1,906,693$1,146,262$977,595$1,906,423
72$2,060,093$1,161,346$969,261$2,042,184
73$2,227,845$1,175,874$959,354$2,190,269
74$2,411,374$1,189,780$947,780$2,351,901
75$2,612,245$1,202,991$934,442$2,528,428
76$2,832,185$1,215,428$919,237$2,721,332
77$3,073,093$1,227,009$902,057$2,932,251
78$3,337,063$1,237,647$882,790$3,162,984
79$3,626,399$1,247,248$861,319$3,415,516
80$3,943,640$1,255,711$837,521$3,692,035
81$4,291,580$1,262,930$811,268$3,994,949
82$4,673,300$1,268,792$782,424$4,326,914
83$5,092,190$1,273,177$750,849$4,690,855
84$5,551,987$1,275,956$716,396$5,089,995
85$6,056,806$1,276,993$678,911$5,527,887
86$6,611,179$1,276,145$638,233$6,008,443
87$7,220,101$1,273,258$594,196$6,535,978
88$7,889,072$1,268,168$546,622$7,115,244
89$8,624,152$1,260,704$495,329$7,751,478
90$9,432,018$1,250,681$440,125$8,450,453
91$10,320,025$1,237,905$380,810$9,218,528
92$11,296,276$1,222,170$317,175$10,062,713
93$12,369,698$1,203,259$249,002$10,990,733
94$13,550,127$1,180,938$176,064$12,011,099
95$14,848,399$1,154,963$98,121$13,133,192
96$16,276,454$1,125,075$14,926$14,367,350
97$17,847,446$1,090,997$0$15,724,967
98$19,575,870$1,052,440$0$17,222,538
99$21,477,694$1,009,096$0$18,871,064
100$23,570,515$960,637$0$20,685,014