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%17.2%
1 years$79,606$78,897$78,205$77,530$76,871$74,619
2 years$39,409$38,675$37,964$37,274$36,605$34,355
3 years$26,012$25,275$24,565$23,882$23,224$21,046
4 years$19,314$18,579$17,877$17,206$16,563$14,474
5 years$15,297$14,567$13,873$13,215$12,591$10,596
6 years$12,620$11,895$11,212$10,569$9,963$8,064
7 years$10,708$9,989$9,317$8,689$8,103$6,300
8 years$9,275$8,563$7,902$7,289$6,722$5,014
9 years$8,161$7,455$6,806$6,209$5,661$4,046
10 years$7,270$6,571$5,933$5,352$4,823$3,300
11 years$6,542$5,850$5,224$4,658$4,148$2,713
12 years$5,935$5,251$4,636$4,085$3,595$2,245
13 years$5,423$4,745$4,142$3,607$3,135$1,868
14 years$4,984$4,313$3,721$3,202$2,748$1,560
15 years$4,603$3,940$3,360$2,855$2,419$1,308
16 years$4,271$3,615$3,046$2,557$2,138$1,100
17 years$3,978$3,329$2,772$2,297$1,896$927
18 years$3,718$3,076$2,530$2,070$1,686$782
19 years$3,485$2,851$2,317$1,871$1,503$662
20 years$3,276$2,650$2,126$1,694$1,342$560
21 years$3,088$2,468$1,955$1,538$1,201$475
22 years$2,916$2,304$1,802$1,398$1,077$403
23 years$2,760$2,155$1,664$1,273$966$342
24 years$2,617$2,019$1,539$1,161$869$291
25 years$2,485$1,894$1,425$1,061$782$247
26 years$2,364$1,781$1,322$970$704$211
27 years$2,252$1,676$1,228$888$635$179
28 years$2,149$1,579$1,141$813$573$153
29 years$2,052$1,490$1,062$746$517$130
30 years$1,962$1,407$989$684$467$111
31 years$1,878$1,330$922$629$422$94
32 years$1,800$1,258$860$578$382$80
33 years$1,726$1,192$803$531$346$69
34 years$1,657$1,129$751$489$313$58
35 years$1,592$1,071$702$450$284$50
36 years$1,531$1,017$657$414$257$43
37 years$1,473$966$614$382$233$36
38 years$1,419$918$575$352$211$31
39 years$1,367$873$539$324$191$26
40 years$1,318$830$505$299$174$22
41 years$1,271$790$474$276$158$19
42 years$1,227$753$444$255$143$16
43 years$1,185$717$417$235$130$14
44 years$1,145$684$392$217$118$12
45 years$1,107$652$368$201$107$10
46 years$1,071$622$345$185$97$9
47 years$1,036$593$324$171$88$7
48 years$1,003$567$305$158$80$6
49 years$972$541$287$146$73$5
50 years$941$517$269$135$66$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $964,000, adding $2,858 every year, while hoping to spend $21,984 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: 67/17/16 Blend
62$964,000$964,000$964,000$964,000
63$1,065,276$1,014,184$999,242$1,132,388
64$1,150,543$1,040,488$1,009,326$1,203,863
65$1,243,771$1,067,345$1,019,011$1,279,148
66$1,345,748$1,094,757$1,028,260$1,360,922
67$1,457,343$1,122,728$1,037,035$1,449,821
68$1,579,512$1,151,262$1,045,295$1,546,543
69$1,713,307$1,180,359$1,052,998$1,651,861
70$1,859,890$1,210,022$1,060,099$1,766,624
71$2,020,537$1,240,251$1,066,550$1,891,766
72$2,196,654$1,271,045$1,072,302$2,028,318
73$2,389,790$1,302,404$1,077,302$2,177,415
74$2,601,653$1,334,326$1,081,495$2,340,307
75$2,834,120$1,366,807$1,084,825$2,518,373
76$3,089,263$1,399,844$1,087,229$2,713,129
77$3,369,362$1,433,430$1,088,645$2,926,248
78$3,676,928$1,467,559$1,089,006$3,159,573
79$4,014,728$1,502,223$1,088,241$3,415,133
80$4,385,811$1,537,412$1,086,278$3,695,165
81$4,793,534$1,573,116$1,083,038$4,002,134
82$5,241,596$1,609,320$1,078,442$4,338,755
83$5,734,073$1,646,011$1,072,404$4,708,020
84$6,275,455$1,683,172$1,064,835$5,113,228
85$6,870,687$1,720,783$1,055,643$5,558,012
86$7,525,220$1,758,824$1,044,730$6,046,375
87$8,245,057$1,797,271$1,031,993$6,582,729
88$9,036,814$1,836,099$1,017,326$7,171,937
89$9,907,780$1,875,278$1,000,617$7,819,357
90$10,865,984$1,914,777$981,748$8,530,892
91$11,920,274$1,954,561$960,596$9,313,049
92$13,080,400$1,994,592$937,034$10,172,999
93$14,357,103$2,034,829$910,927$11,118,642
94$15,762,218$2,075,227$882,134$12,158,686
95$17,308,787$2,115,736$850,508$13,302,727
96$19,011,178$2,156,302$815,895$14,561,340
97$20,885,226$2,196,869$778,135$15,946,177
98$22,948,376$2,237,372$737,060$17,470,083
99$25,219,853$2,277,746$692,494$19,147,209
100$27,720,839$2,317,916$644,253$20,993,152