Can I retire at age 63 with 966,000?

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 $966,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$79,771$79,061$78,368$77,691$77,030$75,107
2 years$39,491$38,755$38,043$37,351$36,681$34,756
3 years$26,066$25,327$24,616$23,931$23,272$21,405
4 years$19,354$18,618$17,914$17,241$16,598$14,803
5 years$15,329$14,597$13,902$13,243$12,617$10,900
6 years$12,646$11,919$11,235$10,590$9,984$8,345
7 years$10,730$10,010$9,336$8,707$8,119$6,560
8 years$9,294$8,580$7,918$7,304$6,736$5,255
9 years$8,178$7,471$6,820$6,221$5,673$4,269
10 years$7,285$6,585$5,946$5,363$4,833$3,505
11 years$6,555$5,862$5,234$4,667$4,157$2,903
12 years$5,948$5,262$4,645$4,094$3,602$2,420
13 years$5,434$4,755$4,150$3,614$3,141$2,028
14 years$4,994$4,322$3,729$3,208$2,754$1,707
15 years$4,613$3,948$3,367$2,861$2,424$1,442
16 years$4,280$3,623$3,053$2,562$2,143$1,222
17 years$3,986$3,336$2,778$2,302$1,900$1,038
18 years$3,725$3,083$2,536$2,075$1,689$883
19 years$3,493$2,857$2,321$1,874$1,506$753
20 years$3,283$2,655$2,130$1,698$1,345$643
21 years$3,094$2,473$1,960$1,541$1,204$550
22 years$2,922$2,308$1,806$1,401$1,079$471
23 years$2,766$2,159$1,668$1,276$968$403
24 years$2,622$2,023$1,542$1,164$870$346
25 years$2,490$1,898$1,428$1,063$783$297
26 years$2,369$1,784$1,325$972$706$255
27 years$2,257$1,679$1,230$889$636$219
28 years$2,153$1,582$1,144$815$574$188
29 years$2,056$1,493$1,064$747$518$161
30 years$1,966$1,410$991$686$468$139
31 years$1,882$1,333$924$630$423$119
32 years$1,804$1,261$862$579$383$103
33 years$1,730$1,194$805$532$347$88
34 years$1,661$1,132$752$490$314$76
35 years$1,596$1,073$703$451$284$65
36 years$1,534$1,019$658$415$258$56
37 years$1,476$968$616$383$233$48
38 years$1,422$920$577$353$212$42
39 years$1,370$874$540$325$192$36
40 years$1,321$832$506$300$174$31
41 years$1,274$792$475$277$158$27
42 years$1,230$754$445$255$143$23
43 years$1,188$719$418$236$130$20
44 years$1,148$685$392$218$118$17
45 years$1,110$653$368$201$107$15
46 years$1,073$623$346$186$97$13
47 years$1,038$595$325$172$88$11
48 years$1,005$568$305$159$80$9
49 years$974$542$287$146$73$8
50 years$943$518$270$135$66$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $966,000, adding $5,158 every year, while hoping to spend $41,010 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: 58/24/18 Blend
62$966,000$966,000$966,000$966,000
63$1,069,852$1,018,654$1,003,681$1,126,569
64$1,135,343$1,024,934$993,670$1,171,914
65$1,206,139$1,030,147$981,950$1,216,401
66$1,282,739$1,034,198$968,418$1,263,972
67$1,365,689$1,036,985$952,971$1,314,932
68$1,455,592$1,038,399$935,498$1,369,616
69$1,553,109$1,038,327$915,884$1,428,397
70$1,658,967$1,036,647$894,008$1,491,688
71$1,773,968$1,033,228$869,743$1,559,945
72$1,898,991$1,027,934$842,957$1,633,670
73$2,035,004$1,020,620$813,513$1,713,421
74$2,183,074$1,011,130$781,265$1,799,813
75$2,344,373$999,300$746,063$1,893,526
76$2,520,191$984,958$707,748$1,995,312
77$2,711,948$967,919$666,155$2,106,002
78$2,921,208$947,987$621,112$2,226,513
79$3,149,690$924,958$572,438$2,357,860
80$3,399,288$898,611$519,945$2,501,164
81$3,672,089$868,715$463,436$2,657,662
82$3,970,386$835,026$402,705$2,828,721
83$4,296,707$797,284$337,537$3,015,852
84$4,653,835$755,216$267,709$3,220,723
85$5,044,834$708,529$192,985$3,445,177
86$5,473,080$656,919$113,122$3,691,247
87$5,942,286$600,061$27,865$3,961,179
88$6,456,547$537,612$0$4,257,454
89$7,020,370$469,209$0$4,594,933
90$7,638,717$394,471$0$4,971,014
91$8,317,058$312,991$0$5,383,733
92$9,061,414$224,344$0$5,836,831
93$9,878,418$128,077$0$6,334,435
94$10,775,379$23,714$0$6,881,093
95$11,760,344$0$0$7,481,824
96$12,842,181$0$0$8,165,731
97$14,030,657$0$0$8,924,019
98$15,336,533$0$0$9,757,303
99$16,771,663$0$0$10,673,157
100$18,349,106$0$0$11,679,927