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%15.4%
1 years$79,771$79,061$78,368$77,691$77,030$75,321
2 years$39,491$38,755$38,043$37,351$36,681$34,968
3 years$26,066$25,327$24,616$23,931$23,272$21,608
4 years$19,354$18,618$17,914$17,241$16,598$14,997
5 years$15,329$14,597$13,902$13,243$12,617$11,083
6 years$12,646$11,919$11,235$10,590$9,984$8,518
7 years$10,730$10,010$9,336$8,707$8,119$6,722
8 years$9,294$8,580$7,918$7,304$6,736$5,407
9 years$8,178$7,471$6,820$6,221$5,673$4,411
10 years$7,285$6,585$5,946$5,363$4,833$3,638
11 years$6,555$5,862$5,234$4,667$4,157$3,026
12 years$5,948$5,262$4,645$4,094$3,602$2,534
13 years$5,434$4,755$4,150$3,614$3,141$2,133
14 years$4,994$4,322$3,729$3,208$2,754$1,804
15 years$4,613$3,948$3,367$2,861$2,424$1,532
16 years$4,280$3,623$3,053$2,562$2,143$1,304
17 years$3,986$3,336$2,778$2,302$1,900$1,114
18 years$3,725$3,083$2,536$2,075$1,689$953
19 years$3,493$2,857$2,321$1,874$1,506$817
20 years$3,283$2,655$2,130$1,698$1,345$701
21 years$3,094$2,473$1,960$1,541$1,204$603
22 years$2,922$2,308$1,806$1,401$1,079$519
23 years$2,766$2,159$1,668$1,276$968$447
24 years$2,622$2,023$1,542$1,164$870$385
25 years$2,490$1,898$1,428$1,063$783$332
26 years$2,369$1,784$1,325$972$706$287
27 years$2,257$1,679$1,230$889$636$248
28 years$2,153$1,582$1,144$815$574$214
29 years$2,056$1,493$1,064$747$518$185
30 years$1,966$1,410$991$686$468$160
31 years$1,882$1,333$924$630$423$138
32 years$1,804$1,261$862$579$383$120
33 years$1,730$1,194$805$532$347$104
34 years$1,661$1,132$752$490$314$90
35 years$1,596$1,073$703$451$284$78
36 years$1,534$1,019$658$415$258$67
37 years$1,476$968$616$383$233$58
38 years$1,422$920$577$353$212$50
39 years$1,370$874$540$325$192$44
40 years$1,321$832$506$300$174$38
41 years$1,274$792$475$277$158$33
42 years$1,230$754$445$255$143$28
43 years$1,188$719$418$236$130$25
44 years$1,148$685$392$218$118$21
45 years$1,110$653$368$201$107$18
46 years$1,073$623$346$186$97$16
47 years$1,038$595$325$172$88$14
48 years$1,005$568$305$159$80$12
49 years$974$542$287$146$73$10
50 years$943$518$270$135$66$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $966,000, adding $2,290 every year, while hoping to spend $38,489 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: 49/40/11 Blend
62$966,000$966,000$966,000$966,000
63$1,066,894$1,015,696$1,000,723$1,115,882
64$1,134,765$1,024,513$993,295$1,158,559
65$1,208,269$1,032,472$984,329$1,200,665
66$1,287,940$1,039,491$973,731$1,245,523
67$1,374,365$1,045,481$961,406$1,293,404
68$1,468,189$1,050,349$947,252$1,344,604
69$1,570,123$1,053,994$931,164$1,399,454
70$1,680,948$1,056,312$913,030$1,458,319
71$1,801,524$1,057,190$892,735$1,521,602
72$1,932,795$1,056,508$870,158$1,589,751
73$2,075,802$1,054,140$845,170$1,663,258
74$2,231,691$1,049,950$817,641$1,742,672
75$2,401,722$1,043,795$787,430$1,828,598
76$2,587,281$1,035,525$754,392$1,921,703
77$2,789,896$1,024,978$718,377$2,022,728
78$3,011,247$1,011,983$679,224$2,132,490
79$3,253,184$996,360$636,768$2,251,896
80$3,517,745$977,918$590,836$2,381,944
81$3,807,172$956,453$541,246$2,523,739
82$4,123,935$931,751$487,809$2,678,505
83$4,470,754$903,584$430,328$2,847,592
84$4,850,622$871,711$368,596$3,032,492
85$5,266,839$835,878$302,397$3,234,855
86$5,723,036$795,815$231,506$3,456,504
87$6,223,212$751,237$155,688$3,699,451
88$6,771,774$701,842$74,698$3,965,923
89$7,373,573$647,311$0$4,258,376
90$8,033,955$587,307$0$4,580,902
91$8,758,807$521,473$0$4,944,567
92$9,554,614$449,433$0$5,343,938
93$10,428,518$370,790$0$5,782,706
94$11,388,390$285,121$0$6,264,943
95$12,442,898$191,984$0$6,795,143
96$13,601,592$90,910$0$7,378,268
97$14,874,992$0$0$8,019,789
98$16,274,690$0$0$8,733,931
99$17,813,454$0$0$9,563,129
100$19,505,352$0$0$10,474,963