Can I retire at age 63 with 964,000?

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 $964,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.6%
1 years$79,606$78,897$78,205$77,530$76,871$74,800
2 years$39,409$38,675$37,964$37,274$36,605$34,534
3 years$26,012$25,275$24,565$23,882$23,224$21,217
4 years$19,314$18,579$17,877$17,206$16,563$14,636
5 years$15,297$14,567$13,873$13,215$12,591$10,748
6 years$12,620$11,895$11,212$10,569$9,963$8,207
7 years$10,708$9,989$9,317$8,689$8,103$6,433
8 years$9,275$8,563$7,902$7,289$6,722$5,138
9 years$8,161$7,455$6,806$6,209$5,661$4,162
10 years$7,270$6,571$5,933$5,352$4,823$3,407
11 years$6,542$5,850$5,224$4,658$4,148$2,812
12 years$5,935$5,251$4,636$4,085$3,595$2,336
13 years$5,423$4,745$4,142$3,607$3,135$1,951
14 years$4,984$4,313$3,721$3,202$2,748$1,637
15 years$4,603$3,940$3,360$2,855$2,419$1,378
16 years$4,271$3,615$3,046$2,557$2,138$1,163
17 years$3,978$3,329$2,772$2,297$1,896$985
18 years$3,718$3,076$2,530$2,070$1,686$835
19 years$3,485$2,851$2,317$1,871$1,503$709
20 years$3,276$2,650$2,126$1,694$1,342$603
21 years$3,088$2,468$1,955$1,538$1,201$514
22 years$2,916$2,304$1,802$1,398$1,077$438
23 years$2,760$2,155$1,664$1,273$966$374
24 years$2,617$2,019$1,539$1,161$869$319
25 years$2,485$1,894$1,425$1,061$782$273
26 years$2,364$1,781$1,322$970$704$233
27 years$2,252$1,676$1,228$888$635$200
28 years$2,149$1,579$1,141$813$573$171
29 years$2,052$1,490$1,062$746$517$146
30 years$1,962$1,407$989$684$467$125
31 years$1,878$1,330$922$629$422$107
32 years$1,800$1,258$860$578$382$92
33 years$1,726$1,192$803$531$346$79
34 years$1,657$1,129$751$489$313$67
35 years$1,592$1,071$702$450$284$58
36 years$1,531$1,017$657$414$257$49
37 years$1,473$966$614$382$233$42
38 years$1,419$918$575$352$211$36
39 years$1,367$873$539$324$191$31
40 years$1,318$830$505$299$174$27
41 years$1,271$790$474$276$158$23
42 years$1,227$753$444$255$143$20
43 years$1,185$717$417$235$130$17
44 years$1,145$684$392$217$118$14
45 years$1,107$652$368$201$107$12
46 years$1,071$622$345$185$97$11
47 years$1,036$593$324$171$88$9
48 years$1,003$567$305$158$80$8
49 years$972$541$287$146$73$7
50 years$941$517$269$135$66$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $964,000, adding $4,540 every year, while hoping to spend $34,270 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: 57/23/20 Blend
62$964,000$964,000$964,000$964,000
63$1,067,011$1,015,919$1,000,977$1,121,889
64$1,139,383$1,029,236$998,047$1,173,087
65$1,217,989$1,042,057$993,870$1,224,780
66$1,303,427$1,054,321$988,368$1,280,359
67$1,396,358$1,065,965$981,460$1,340,207
68$1,497,508$1,076,918$973,060$1,404,746
69$1,607,674$1,087,108$963,078$1,474,440
70$1,727,736$1,096,455$951,420$1,549,803
71$1,858,661$1,104,878$937,989$1,631,404
72$2,001,514$1,112,285$922,680$1,719,867
73$2,157,465$1,118,584$905,387$1,815,883
74$2,327,805$1,123,673$885,996$1,920,216
75$2,513,953$1,127,445$864,389$2,033,706
76$2,717,473$1,129,787$840,443$2,157,283
77$2,940,085$1,130,577$814,028$2,291,972
78$3,183,685$1,129,686$785,009$2,438,905
79$3,450,359$1,126,979$753,245$2,599,330
80$3,742,405$1,122,310$718,588$2,774,624
81$4,062,353$1,115,526$680,883$2,966,310
82$4,412,990$1,106,463$639,969$3,176,063
83$4,797,384$1,094,949$595,677$3,405,736
84$5,218,916$1,080,801$547,831$3,657,372
85$5,681,308$1,063,823$496,247$3,933,223
86$6,188,662$1,043,810$440,731$4,235,776
87$6,745,493$1,020,545$381,083$4,567,774
88$7,356,777$993,795$317,093$4,932,244
89$8,027,994$963,317$248,542$5,332,523
90$8,765,181$928,851$175,200$5,772,295
91$9,574,989$890,124$96,828$6,255,620
92$10,464,744$846,846$13,178$6,786,980
93$11,442,516$798,710$0$7,371,317
94$12,517,198$745,392$0$8,030,320
95$13,698,585$686,549$0$8,757,819
96$14,997,470$621,819$0$9,557,691
97$16,425,742$550,818$0$10,437,310
98$17,996,501$473,142$0$11,404,809
99$19,724,181$388,363$0$12,469,149
100$21,624,684$296,029$0$13,640,209