Can I retire at age 63 with 966,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%11.4%
1 years$79,771$79,061$78,368$77,691$77,030$76,577
2 years$39,491$38,755$38,043$37,351$36,681$36,224
3 years$26,066$25,327$24,616$23,931$23,272$22,825
4 years$19,354$18,618$17,914$17,241$16,598$16,164
5 years$15,329$14,597$13,902$13,243$12,617$12,199
6 years$12,646$11,919$11,235$10,590$9,984$9,580
7 years$10,730$10,010$9,336$8,707$8,119$7,732
8 years$9,294$8,580$7,918$7,304$6,736$6,364
9 years$8,178$7,471$6,820$6,221$5,673$5,316
10 years$7,285$6,585$5,946$5,363$4,833$4,492
11 years$6,555$5,862$5,234$4,667$4,157$3,831
12 years$5,948$5,262$4,645$4,094$3,602$3,291
13 years$5,434$4,755$4,150$3,614$3,141$2,844
14 years$4,994$4,322$3,729$3,208$2,754$2,471
15 years$4,613$3,948$3,367$2,861$2,424$2,156
16 years$4,280$3,623$3,053$2,562$2,143$1,887
17 years$3,986$3,336$2,778$2,302$1,900$1,657
18 years$3,725$3,083$2,536$2,075$1,689$1,460
19 years$3,493$2,857$2,321$1,874$1,506$1,288
20 years$3,283$2,655$2,130$1,698$1,345$1,139
21 years$3,094$2,473$1,960$1,541$1,204$1,009
22 years$2,922$2,308$1,806$1,401$1,079$895
23 years$2,766$2,159$1,668$1,276$968$795
24 years$2,622$2,023$1,542$1,164$870$707
25 years$2,490$1,898$1,428$1,063$783$630
26 years$2,369$1,784$1,325$972$706$561
27 years$2,257$1,679$1,230$889$636$500
28 years$2,153$1,582$1,144$815$574$447
29 years$2,056$1,493$1,064$747$518$399
30 years$1,966$1,410$991$686$468$356
31 years$1,882$1,333$924$630$423$319
32 years$1,804$1,261$862$579$383$285
33 years$1,730$1,194$805$532$347$255
34 years$1,661$1,132$752$490$314$228
35 years$1,596$1,073$703$451$284$204
36 years$1,534$1,019$658$415$258$183
37 years$1,476$968$616$383$233$164
38 years$1,422$920$577$353$212$147
39 years$1,370$874$540$325$192$132
40 years$1,321$832$506$300$174$118
41 years$1,274$792$475$277$158$106
42 years$1,230$754$445$255$143$95
43 years$1,188$719$418$236$130$85
44 years$1,148$685$392$218$118$76
45 years$1,110$653$368$201$107$68
46 years$1,073$623$346$186$97$61
47 years$1,038$595$325$172$88$55
48 years$1,005$568$305$159$80$49
49 years$974$542$287$146$73$44
50 years$943$518$270$135$66$40

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $966,000, adding $3,853 every year, while hoping to spend $26,000 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: 80/10/10 Blend
62$966,000$966,000$966,000$966,000
63$1,068,506$1,017,308$1,002,335$1,151,945
64$1,149,830$1,039,493$1,008,250$1,229,421
65$1,238,578$1,061,893$1,013,491$1,310,631
66$1,335,479$1,084,491$1,018,009$1,398,977
67$1,441,336$1,107,270$1,021,751$1,495,160
68$1,557,035$1,130,209$1,024,662$1,599,953
69$1,683,548$1,153,285$1,026,684$1,714,206
70$1,821,948$1,176,474$1,027,756$1,838,854
71$1,973,416$1,199,750$1,027,815$1,974,930
72$2,139,250$1,223,084$1,026,792$2,123,569
73$2,320,883$1,246,444$1,024,619$2,286,023
74$2,519,890$1,269,797$1,021,221$2,463,669
75$2,738,008$1,293,106$1,016,521$2,658,028
76$2,977,148$1,316,331$1,010,438$2,870,772
77$3,239,416$1,339,430$1,002,886$3,103,743
78$3,527,131$1,362,357$993,778$3,358,974
79$3,842,848$1,385,062$983,019$3,638,701
80$4,189,380$1,407,492$970,512$3,945,389
81$4,569,828$1,429,590$956,155$4,281,754
82$4,987,605$1,451,294$939,840$4,650,789
83$5,446,472$1,472,539$921,456$5,055,792
84$5,950,572$1,493,254$900,885$5,500,395
85$6,504,471$1,513,364$878,005$5,988,603
86$7,113,196$1,532,787$852,687$6,524,826
87$7,782,286$1,551,439$824,797$7,113,925
88$8,517,846$1,569,226$794,194$7,761,257
89$9,326,598$1,586,050$760,732$8,472,725
90$10,215,951$1,601,806$724,256$9,254,831
91$11,194,067$1,616,383$684,607$10,114,744
92$12,269,936$1,629,661$641,616$11,060,362
93$13,453,468$1,641,512$595,109$12,100,387
94$14,755,578$1,651,803$544,901$13,244,410
95$16,188,294$1,660,388$490,802$14,503,000
96$17,764,868$1,667,114$432,612$15,887,804
97$19,499,901$1,671,820$370,121$17,411,655
98$21,409,483$1,674,331$303,112$19,088,699
99$23,511,340$1,674,463$231,356$20,934,519
100$25,825,007$1,672,022$154,617$22,966,292