Can I retire at age 63 with 971,000?

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 $971,000?

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 years$80,184$79,470$78,773$78,093$77,429$75,526
2 years$39,695$38,956$38,239$37,545$36,871$34,966
3 years$26,201$25,458$24,743$24,055$23,392$21,545
4 years$19,455$18,714$18,007$17,330$16,684$14,907
5 years$15,408$14,672$13,974$13,311$12,683$10,982
6 years$12,711$11,981$11,293$10,645$10,035$8,413
7 years$10,786$10,062$9,385$8,752$8,161$6,617
8 years$9,342$8,625$7,959$7,342$6,771$5,304
9 years$8,220$7,509$6,855$6,254$5,702$4,311
10 years$7,323$6,619$5,976$5,391$4,858$3,542
11 years$6,589$5,893$5,261$4,692$4,178$2,935
12 years$5,979$5,289$4,669$4,115$3,621$2,448
13 years$5,462$4,780$4,172$3,633$3,157$2,053
14 years$5,020$4,345$3,748$3,225$2,768$1,729
15 years$4,637$3,969$3,384$2,876$2,437$1,462
16 years$4,302$3,641$3,068$2,575$2,154$1,240
17 years$4,007$3,354$2,792$2,314$1,910$1,054
18 years$3,745$3,099$2,549$2,085$1,698$898
19 years$3,511$2,872$2,333$1,884$1,513$766
20 years$3,300$2,669$2,141$1,707$1,352$655
21 years$3,110$2,486$1,970$1,549$1,210$560
22 years$2,937$2,320$1,815$1,408$1,084$480
23 years$2,780$2,170$1,676$1,282$973$411
24 years$2,636$2,033$1,550$1,170$875$353
25 years$2,503$1,908$1,436$1,068$787$303
26 years$2,381$1,793$1,332$977$709$260
27 years$2,269$1,688$1,237$894$639$224
28 years$2,164$1,590$1,150$819$577$192
29 years$2,067$1,500$1,070$751$521$166
30 years$1,977$1,417$996$689$471$142
31 years$1,892$1,339$929$633$426$123
32 years$1,813$1,267$867$582$385$106
33 years$1,739$1,200$809$535$348$91
34 years$1,669$1,138$756$492$315$78
35 years$1,604$1,079$707$453$286$67
36 years$1,542$1,024$661$417$259$58
37 years$1,484$973$619$385$235$50
38 years$1,429$924$580$354$213$43
39 years$1,377$879$543$327$193$37
40 years$1,328$836$509$301$175$32
41 years$1,281$796$477$278$159$28
42 years$1,236$758$448$257$144$24
43 years$1,194$722$420$237$131$20
44 years$1,154$689$394$219$119$18
45 years$1,115$657$370$202$108$15
46 years$1,079$626$348$187$98$13
47 years$1,044$598$327$172$89$11
48 years$1,010$571$307$159$81$10
49 years$979$545$289$147$73$8
50 years$948$521$271$136$67$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $971,000, adding $3,881 every year, while hoping to spend $22,199 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: 59/33/8 Blend
62$971,000$971,000$971,000$971,000
63$1,074,045$1,022,582$1,007,532$1,135,296
64$1,159,978$1,049,069$1,017,665$1,203,358
65$1,253,933$1,076,110$1,027,393$1,274,669
66$1,356,703$1,103,708$1,036,679$1,351,870
67$1,469,164$1,131,867$1,045,485$1,435,529
68$1,592,279$1,160,590$1,053,770$1,526,268
69$1,727,110$1,189,877$1,061,490$1,624,776
70$1,874,825$1,219,731$1,068,599$1,731,808
71$2,036,711$1,250,151$1,075,051$1,848,198
72$2,214,184$1,281,138$1,080,794$1,974,862
73$2,408,806$1,312,689$1,085,776$2,112,811
74$2,622,297$1,344,803$1,089,942$2,263,157
75$2,856,548$1,377,475$1,093,232$2,427,125
76$3,113,647$1,410,702$1,095,586$2,606,065
77$3,395,891$1,444,478$1,096,940$2,801,464
78$3,705,809$1,478,796$1,097,225$3,014,958
79$4,046,191$1,513,646$1,096,372$3,248,352
80$4,420,107$1,549,019$1,094,305$3,503,633
81$4,830,941$1,584,904$1,090,947$3,782,989
82$5,282,419$1,621,286$1,086,216$4,088,834
83$5,778,648$1,658,151$1,080,026$4,423,825
84$6,324,150$1,695,481$1,072,287$4,790,888
85$6,923,911$1,733,257$1,062,906$5,193,251
86$7,583,420$1,771,456$1,051,783$5,634,467
87$8,308,727$1,810,056$1,038,816$6,118,454
88$9,106,496$1,849,028$1,023,896$6,649,525
89$9,984,073$1,888,344$1,006,910$7,232,437
90$10,949,546$1,927,971$987,740$7,872,429
91$12,011,831$1,967,873$966,261$8,575,274
92$13,180,751$2,008,012$942,343$9,347,335
93$14,467,127$2,048,344$915,851$10,195,623
94$15,882,885$2,088,824$886,643$11,127,863
95$17,441,163$2,129,400$854,570$12,152,568
96$19,156,440$2,170,019$819,476$13,279,120
97$21,044,668$2,210,621$781,200$14,517,857
98$23,123,425$2,251,142$739,570$15,880,172
99$25,412,079$2,291,513$694,411$17,378,620
100$27,931,973$2,331,659$645,536$19,027,035