Can I retire at age 63 with 965,000?

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 $965,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$79,689$78,979$78,286$77,610$76,950$75,335
2 years$39,450$38,715$38,003$37,313$36,643$35,023
3 years$26,039$25,301$24,591$23,907$23,248$21,674
4 years$19,334$18,599$17,896$17,223$16,581$15,065
5 years$15,313$14,582$13,888$13,229$12,604$11,151
6 years$12,633$11,907$11,223$10,580$9,973$8,584
7 years$10,719$9,999$9,327$8,698$8,111$6,786
8 years$9,285$8,571$7,910$7,297$6,729$5,468
9 years$8,169$7,463$6,813$6,215$5,667$4,469
10 years$7,278$6,578$5,939$5,357$4,828$3,692
11 years$6,549$5,856$5,229$4,663$4,152$3,077
12 years$5,942$5,256$4,641$4,090$3,598$2,582
13 years$5,428$4,750$4,146$3,611$3,138$2,178
14 years$4,989$4,318$3,725$3,205$2,751$1,846
15 years$4,608$3,944$3,363$2,858$2,422$1,570
16 years$4,275$3,619$3,049$2,559$2,141$1,340
17 years$3,982$3,333$2,775$2,300$1,898$1,147
18 years$3,722$3,080$2,533$2,072$1,688$983
19 years$3,489$2,854$2,319$1,873$1,504$845
20 years$3,280$2,652$2,128$1,696$1,344$727
21 years$3,091$2,470$1,958$1,539$1,202$626
22 years$2,919$2,306$1,804$1,399$1,078$540
23 years$2,763$2,157$1,666$1,275$967$466
24 years$2,619$2,021$1,541$1,162$870$403
25 years$2,488$1,896$1,427$1,062$782$348
26 years$2,367$1,782$1,323$971$705$302
27 years$2,255$1,677$1,229$888$635$261
28 years$2,151$1,581$1,142$814$573$226
29 years$2,054$1,491$1,063$746$518$196
30 years$1,964$1,408$990$685$468$170
31 years$1,880$1,331$923$629$423$147
32 years$1,802$1,260$861$578$383$128
33 years$1,728$1,193$804$532$346$111
34 years$1,659$1,131$751$489$313$96
35 years$1,594$1,072$703$450$284$83
36 years$1,533$1,018$657$415$257$72
37 years$1,475$967$615$382$233$63
38 years$1,420$919$576$352$211$55
39 years$1,368$874$540$325$192$47
40 years$1,319$831$506$300$174$41
41 years$1,273$791$474$276$158$36
42 years$1,229$753$445$255$143$31
43 years$1,187$718$418$235$130$27
44 years$1,147$684$392$217$118$23
45 years$1,108$653$368$201$107$20
46 years$1,072$623$346$185$97$18
47 years$1,037$594$325$171$88$15
48 years$1,004$567$305$158$80$13
49 years$973$542$287$146$73$12
50 years$942$517$270$135$66$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $965,000, adding $3,204 every year, while hoping to spend $21,779 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: 78/8/14 Blend
62$965,000$965,000$965,000$965,000
63$1,066,735$1,015,590$1,000,632$1,146,641
64$1,152,369$1,042,181$1,010,981$1,226,312
65$1,246,008$1,069,345$1,020,946$1,310,586
66$1,348,446$1,097,088$1,030,492$1,402,413
67$1,460,555$1,125,413$1,039,582$1,502,538
68$1,583,298$1,154,325$1,048,174$1,611,784
69$1,717,735$1,183,827$1,056,228$1,731,054
70$1,865,032$1,213,922$1,063,700$1,861,347
71$2,026,474$1,244,613$1,070,543$2,003,759
72$2,203,476$1,275,901$1,076,708$2,159,500
73$2,397,596$1,307,787$1,082,144$2,329,904
74$2,610,553$1,340,270$1,086,797$2,516,437
75$2,844,235$1,373,349$1,090,610$2,720,716
76$3,100,726$1,407,022$1,093,525$2,944,524
77$3,382,321$1,441,286$1,095,478$3,189,823
78$3,691,545$1,476,137$1,096,405$3,458,775
79$4,031,184$1,511,569$1,096,235$3,753,763
80$4,404,303$1,547,574$1,094,898$4,077,412
81$4,814,282$1,584,145$1,092,317$4,432,614
82$5,264,841$1,621,271$1,088,412$4,822,557
83$5,760,083$1,658,941$1,083,102$5,250,752
84$6,304,522$1,697,141$1,076,297$5,721,068
85$6,903,138$1,735,855$1,067,907$6,237,769
86$7,561,412$1,775,066$1,057,836$6,805,552
87$8,285,386$1,814,754$1,045,984$7,429,594
88$9,081,716$1,854,898$1,032,245$8,115,599
89$9,957,735$1,895,472$1,016,509$8,869,854
90$10,921,523$1,936,449$998,661$9,699,283
91$11,981,982$1,977,799$978,580$10,611,521
92$13,148,922$2,019,488$956,140$11,614,976
93$14,433,151$2,061,482$931,209$12,718,917
94$15,846,576$2,103,738$903,648$13,933,558
95$17,402,319$2,146,214$873,313$15,270,151
96$19,114,840$2,188,863$840,053$16,741,101
97$21,000,068$2,231,631$803,710$18,360,072
98$23,075,559$2,274,465$764,117$20,142,125
99$25,360,654$2,317,302$721,103$22,103,857
100$27,876,667$2,360,076$674,487$24,263,557