Can I retire at age 63 with 973,000?

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 $973,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.3%
1 years$80,349$79,634$78,935$78,254$77,588$74,687
2 years$39,777$39,036$38,318$37,622$36,947$34,057
3 years$26,255$25,511$24,794$24,105$23,441$20,653
4 years$19,495$18,753$18,044$17,366$16,718$14,054
5 years$15,440$14,703$14,003$13,339$12,709$10,176
6 years$12,737$12,006$11,316$10,667$10,056$7,655
7 years$10,808$10,082$9,404$8,770$8,178$5,909
8 years$9,361$8,642$7,975$7,357$6,785$4,645
9 years$8,237$7,525$6,869$6,267$5,714$3,701
10 years$7,338$6,633$5,989$5,402$4,868$2,978
11 years$6,603$5,905$5,272$4,701$4,187$2,416
12 years$5,991$5,300$4,679$4,124$3,628$1,971
13 years$5,473$4,789$4,180$3,641$3,164$1,617
14 years$5,030$4,353$3,756$3,232$2,773$1,331
15 years$4,646$3,977$3,391$2,882$2,442$1,099
16 years$4,311$3,649$3,075$2,581$2,158$910
17 years$4,015$3,360$2,798$2,319$1,914$755
18 years$3,752$3,105$2,554$2,090$1,702$628
19 years$3,518$2,878$2,338$1,888$1,517$523
20 years$3,307$2,674$2,146$1,710$1,355$435
21 years$3,116$2,491$1,974$1,552$1,212$363
22 years$2,943$2,325$1,819$1,411$1,087$303
23 years$2,786$2,175$1,680$1,285$975$253
24 years$2,641$2,038$1,553$1,172$877$212
25 years$2,509$1,912$1,439$1,070$789$177
26 years$2,386$1,797$1,334$979$711$148
27 years$2,273$1,691$1,239$896$641$124
28 years$2,169$1,594$1,152$821$578$104
29 years$2,071$1,503$1,072$753$522$87
30 years$1,981$1,420$998$691$472$73
31 years$1,896$1,342$931$634$426$61
32 years$1,817$1,270$868$583$386$51
33 years$1,743$1,203$811$536$349$43
34 years$1,673$1,140$758$493$316$36
35 years$1,607$1,081$708$454$286$30
36 years$1,545$1,026$663$418$259$25
37 years$1,487$975$620$385$235$21
38 years$1,432$926$581$355$213$18
39 years$1,380$881$544$328$193$15
40 years$1,330$838$510$302$175$12
41 years$1,283$798$478$279$159$10
42 years$1,239$760$449$257$144$9
43 years$1,196$724$421$237$131$7
44 years$1,156$690$395$219$119$6
45 years$1,118$658$371$202$108$5
46 years$1,081$628$348$187$98$4
47 years$1,046$599$327$173$89$4
48 years$1,013$572$308$160$81$3
49 years$981$546$289$148$73$3
50 years$950$522$272$136$67$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $973,000, adding $6,014 every year, while hoping to spend $26,374 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: 30/47/23 Blend
62$973,000$973,000$973,000$973,000
63$1,078,449$1,026,880$1,011,799$1,102,947
64$1,160,390$1,049,136$1,017,632$1,144,498
65$1,249,804$1,071,598$1,022,777$1,186,410
66$1,347,426$1,094,249$1,027,183$1,230,954
67$1,454,066$1,117,069$1,030,796$1,278,377
68$1,570,612$1,140,037$1,033,559$1,328,948
69$1,698,046$1,163,130$1,035,415$1,382,965
70$1,837,445$1,186,322$1,036,300$1,440,759
71$1,989,999$1,209,587$1,036,150$1,502,693
72$2,157,015$1,232,892$1,034,897$1,569,168
73$2,339,934$1,256,207$1,032,470$1,640,628
74$2,540,341$1,279,496$1,028,792$1,717,563
75$2,759,985$1,302,720$1,023,786$1,800,511
76$3,000,790$1,325,839$1,017,368$1,890,070
77$3,264,874$1,348,809$1,009,453$1,986,899
78$3,554,571$1,371,581$999,951$2,091,722
79$3,872,454$1,394,104$988,765$2,205,343
80$4,221,352$1,416,324$975,797$2,328,648
81$4,604,387$1,438,180$960,942$2,462,613
82$5,024,993$1,459,610$944,093$2,608,318
83$5,486,956$1,480,545$925,134$2,766,952
84$5,994,446$1,500,912$903,947$2,939,832
85$6,552,057$1,520,634$880,406$3,128,406
86$7,164,848$1,539,626$854,381$3,334,277
87$7,838,395$1,557,801$825,735$3,559,210
88$8,578,840$1,575,062$794,326$3,805,156
89$9,392,950$1,591,308$760,004$4,074,266
90$10,288,180$1,606,431$722,613$4,368,914
91$11,272,743$1,620,314$681,989$4,691,721
92$12,355,689$1,632,837$637,963$5,045,577
93$13,546,990$1,643,866$590,355$5,433,671
94$14,857,630$1,653,262$538,979$5,859,523
95$16,299,714$1,660,878$483,641$6,327,014
96$17,886,579$1,666,555$424,137$6,840,428
97$19,632,920$1,670,126$360,255$7,404,489
98$21,554,927$1,671,412$291,773$8,024,411
99$23,670,442$1,670,223$218,459$8,705,943
100$25,999,122$1,666,359$140,072$9,455,427