Can I retire at age 63 with 967,000?

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 $967,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13%
1 years$79,854$79,143$78,449$77,771$77,110$76,146
2 years$39,532$38,795$38,082$37,390$36,719$35,749
3 years$26,093$25,353$24,642$23,956$23,296$22,351
4 years$19,374$18,637$17,933$17,259$16,615$15,701
5 years$15,345$14,612$13,917$13,257$12,630$11,750
6 years$12,659$11,932$11,247$10,601$9,994$9,149
7 years$10,741$10,020$9,346$8,716$8,128$7,318
8 years$9,304$8,589$7,926$7,312$6,743$5,969
9 years$8,186$7,478$6,827$6,228$5,678$4,940
10 years$7,293$6,592$5,952$5,369$4,838$4,134
11 years$6,562$5,868$5,240$4,672$4,161$3,491
12 years$5,954$5,267$4,650$4,098$3,606$2,969
13 years$5,440$4,760$4,155$3,618$3,144$2,540
14 years$4,999$4,327$3,733$3,212$2,756$2,183
15 years$4,618$3,952$3,370$2,864$2,427$1,884
16 years$4,284$3,626$3,056$2,565$2,145$1,632
17 years$3,990$3,340$2,781$2,304$1,902$1,417
18 years$3,729$3,086$2,538$2,077$1,691$1,234
19 years$3,496$2,860$2,324$1,876$1,507$1,076
20 years$3,287$2,658$2,133$1,699$1,346$941
21 years$3,097$2,476$1,962$1,542$1,205$823
22 years$2,925$2,311$1,808$1,402$1,080$722
23 years$2,768$2,161$1,669$1,277$969$633
24 years$2,625$2,025$1,544$1,165$871$556
25 years$2,493$1,900$1,430$1,064$784$489
26 years$2,372$1,786$1,326$973$706$431
27 years$2,259$1,681$1,231$890$637$379
28 years$2,155$1,584$1,145$816$575$334
29 years$2,059$1,494$1,065$748$519$294
30 years$1,968$1,411$992$687$469$260
31 years$1,884$1,334$925$631$424$229
32 years$1,806$1,262$863$579$383$202
33 years$1,732$1,195$806$533$347$179
34 years$1,662$1,133$753$490$314$158
35 years$1,597$1,075$704$451$285$139
36 years$1,536$1,020$659$416$258$123
37 years$1,478$969$616$383$234$109
38 years$1,423$921$577$353$212$96
39 years$1,371$875$541$325$192$85
40 years$1,322$833$507$300$174$75
41 years$1,275$793$475$277$158$66
42 years$1,231$755$446$256$143$59
43 years$1,189$719$418$236$130$52
44 years$1,149$686$393$218$118$46
45 years$1,111$654$369$201$107$41
46 years$1,074$624$346$186$97$36
47 years$1,040$595$325$172$88$32
48 years$1,006$568$306$159$80$28
49 years$975$543$287$147$73$25
50 years$944$518$270$136$66$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $967,000, adding $5,317 every year, while hoping to spend $46,847 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: 33/38/29 Blend
62$967,000$967,000$967,000$967,000
63$1,071,118$1,019,867$1,004,879$1,096,900
64$1,130,528$1,019,996$988,698$1,117,136
65$1,194,427$1,018,561$970,404$1,134,416
66$1,263,224$1,015,436$949,878$1,152,138
67$1,337,367$1,010,487$926,994$1,170,373
68$1,417,350$1,003,573$901,620$1,189,205
69$1,503,714$994,542$873,618$1,208,730
70$1,597,054$983,235$842,845$1,229,057
71$1,698,023$969,483$809,150$1,250,312
72$1,807,340$953,107$772,375$1,272,637
73$1,925,795$933,915$732,356$1,296,195
74$2,054,257$911,708$688,921$1,321,170
75$2,193,681$886,271$641,889$1,347,770
76$2,345,117$857,380$591,074$1,376,231
77$2,509,722$824,794$536,278$1,406,820
78$2,688,767$788,263$477,297$1,439,838
79$2,883,651$747,517$413,916$1,475,621
80$3,095,913$702,275$345,911$1,514,551
81$3,327,247$652,237$273,050$1,557,054
82$3,579,516$597,087$195,087$1,603,609
83$3,854,773$536,490$111,769$1,654,752
84$4,155,276$470,094$22,829$1,711,085
85$4,483,511$397,525$0$1,773,280
86$4,842,214$318,389$0$1,864,393
87$5,234,398$232,269$0$1,971,947
88$5,663,381$138,724$0$2,089,900
89$6,132,815$37,291$0$2,219,396
90$6,646,722$0$0$2,361,699
91$7,209,531$0$0$2,548,539
92$7,826,119$0$0$2,770,459
93$8,501,857$0$0$3,013,817
94$9,242,661$0$0$3,280,762
95$10,055,045$0$0$3,573,660
96$10,946,187$0$0$3,895,120
97$11,923,989$0$0$4,248,012
98$12,997,157$0$0$4,635,500
99$14,175,282$0$0$5,061,069
100$15,468,926$0$0$5,528,557