Can I retire at age 63 with 972,000?

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 $972,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.5%
1 years$80,267$79,552$78,854$78,173$77,509$76,699
2 years$39,736$38,996$38,279$37,583$36,909$36,094
3 years$26,228$25,484$24,769$24,080$23,417$22,621
4 years$19,475$18,734$18,025$17,348$16,701$15,931
5 years$15,424$14,687$13,988$13,325$12,696$11,954
6 years$12,724$11,993$11,305$10,656$10,046$9,333
7 years$10,797$10,072$9,394$8,761$8,170$7,486
8 years$9,352$8,634$7,967$7,349$6,778$6,123
9 years$8,229$7,517$6,862$6,260$5,708$5,082
10 years$7,330$6,626$5,983$5,396$4,863$4,266
11 years$6,596$5,899$5,267$4,696$4,183$3,613
12 years$5,985$5,294$4,674$4,119$3,625$3,083
13 years$5,468$4,785$4,176$3,637$3,161$2,646
14 years$5,025$4,349$3,752$3,228$2,771$2,282
15 years$4,641$3,973$3,388$2,879$2,439$1,976
16 years$4,306$3,645$3,072$2,578$2,156$1,717
17 years$4,011$3,357$2,795$2,316$1,912$1,497
18 years$3,749$3,102$2,551$2,087$1,700$1,308
19 years$3,514$2,875$2,336$1,886$1,515$1,145
20 years$3,304$2,671$2,144$1,708$1,353$1,004
21 years$3,113$2,488$1,972$1,550$1,211$883
22 years$2,940$2,323$1,817$1,410$1,086$777
23 years$2,783$2,172$1,678$1,284$974$684
24 years$2,638$2,035$1,552$1,171$876$603
25 years$2,506$1,910$1,437$1,069$788$533
26 years$2,384$1,795$1,333$978$710$470
27 years$2,271$1,690$1,238$895$640$416
28 years$2,166$1,592$1,151$820$578$368
29 years$2,069$1,502$1,071$752$521$326
30 years$1,979$1,418$997$690$471$288
31 years$1,894$1,341$930$634$426$256
32 years$1,815$1,269$868$582$385$226
33 years$1,741$1,202$810$536$349$201
34 years$1,671$1,139$757$493$316$178
35 years$1,606$1,080$708$454$286$158
36 years$1,544$1,025$662$418$259$140
37 years$1,485$974$620$385$235$124
38 years$1,430$925$580$355$213$110
39 years$1,378$880$544$327$193$98
40 years$1,329$837$510$302$175$87
41 years$1,282$797$478$278$159$77
42 years$1,237$759$448$257$144$69
43 years$1,195$723$421$237$131$61
44 years$1,155$689$395$219$119$54
45 years$1,116$657$371$202$108$48
46 years$1,080$627$348$187$98$43
47 years$1,045$598$327$173$89$38
48 years$1,012$571$307$159$81$34
49 years$980$545$289$147$73$30
50 years$949$521$272$136$67$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $972,000, adding $5,050 every year, while hoping to spend $42,887 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: 42/40/18 Blend
62$972,000$972,000$972,000$972,000
63$1,076,353$1,024,837$1,009,771$1,115,692
64$1,140,510$1,029,423$997,967$1,148,595
65$1,209,773$1,032,796$984,330$1,179,630
66$1,284,618$1,034,851$968,754$1,212,338
67$1,365,568$1,035,478$951,126$1,246,893
68$1,453,198$1,034,558$931,330$1,283,491
69$1,548,138$1,031,966$909,244$1,322,348
70$1,651,084$1,027,568$884,740$1,363,707
71$1,762,799$1,021,223$857,683$1,407,836
72$1,884,124$1,012,781$827,934$1,455,036
73$2,015,981$1,002,084$795,346$1,505,640
74$2,159,387$988,963$759,766$1,560,019
75$2,315,460$973,238$721,035$1,618,587
76$2,485,432$954,721$678,984$1,681,803
77$2,670,655$933,211$633,439$1,750,176
78$2,872,619$908,496$584,217$1,824,273
79$3,092,965$880,351$531,127$1,904,724
80$3,333,498$848,538$473,969$1,992,227
81$3,596,203$812,806$412,536$2,087,558
82$3,883,270$772,887$346,610$2,191,576
83$4,197,105$728,500$275,963$2,305,237
84$4,540,360$679,347$200,359$2,429,597
85$4,915,955$625,113$119,548$2,565,830
86$5,327,103$565,465$33,274$2,715,237
87$5,777,345$500,050$0$2,879,257
88$6,270,578$428,496$0$3,070,779
89$6,811,095$350,410$0$3,287,831
90$7,403,623$265,377$0$3,526,030
91$8,053,370$172,958$0$3,787,602
92$8,766,071$72,690$0$4,075,005
93$9,548,041$0$0$4,390,958
94$10,406,240$0$0$4,754,273
95$11,348,329$0$0$5,188,352
96$12,382,753$0$0$5,665,106
97$13,518,810$0$0$6,188,835
98$14,766,744$0$0$6,764,281
99$16,137,842$0$0$7,396,663
100$17,644,536$0$0$8,091,735