Can I retire at age 63 with 973,000?

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 $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%16.5%
1 years$80,349$79,634$78,935$78,254$77,588$75,529
2 years$39,777$39,036$38,318$37,622$36,947$34,886
3 years$26,255$25,511$24,794$24,105$23,441$21,444
4 years$19,495$18,753$18,044$17,366$16,718$14,800
5 years$15,440$14,703$14,003$13,339$12,709$10,875
6 years$12,737$12,006$11,316$10,667$10,056$8,308
7 years$10,808$10,082$9,404$8,770$8,178$6,516
8 years$9,361$8,642$7,975$7,357$6,785$5,207
9 years$8,237$7,525$6,869$6,267$5,714$4,220
10 years$7,338$6,633$5,989$5,402$4,868$3,457
11 years$6,603$5,905$5,272$4,701$4,187$2,855
12 years$5,991$5,300$4,679$4,124$3,628$2,374
13 years$5,473$4,789$4,180$3,641$3,164$1,984
14 years$5,030$4,353$3,756$3,232$2,773$1,665
15 years$4,646$3,977$3,391$2,882$2,442$1,403
16 years$4,311$3,649$3,075$2,581$2,158$1,185
17 years$4,015$3,360$2,798$2,319$1,914$1,004
18 years$3,752$3,105$2,554$2,090$1,702$852
19 years$3,518$2,878$2,338$1,888$1,517$724
20 years$3,307$2,674$2,146$1,710$1,355$617
21 years$3,116$2,491$1,974$1,552$1,212$526
22 years$2,943$2,325$1,819$1,411$1,087$449
23 years$2,786$2,175$1,680$1,285$975$383
24 years$2,641$2,038$1,553$1,172$877$327
25 years$2,509$1,912$1,439$1,070$789$280
26 years$2,386$1,797$1,334$979$711$240
27 years$2,273$1,691$1,239$896$641$205
28 years$2,169$1,594$1,152$821$578$176
29 years$2,071$1,503$1,072$753$522$150
30 years$1,981$1,420$998$691$472$129
31 years$1,896$1,342$931$634$426$110
32 years$1,817$1,270$868$583$386$95
33 years$1,743$1,203$811$536$349$81
34 years$1,673$1,140$758$493$316$70
35 years$1,607$1,081$708$454$286$60
36 years$1,545$1,026$663$418$259$51
37 years$1,487$975$620$385$235$44
38 years$1,432$926$581$355$213$38
39 years$1,380$881$544$328$193$32
40 years$1,330$838$510$302$175$28
41 years$1,283$798$478$279$159$24
42 years$1,239$760$449$257$144$20
43 years$1,196$724$421$237$131$18
44 years$1,156$690$395$219$119$15
45 years$1,118$658$371$202$108$13
46 years$1,081$628$348$187$98$11
47 years$1,046$599$327$173$89$10
48 years$1,013$572$308$160$81$8
49 years$981$546$289$148$73$7
50 years$950$522$272$136$67$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $973,000, adding $2,337 every year, while hoping to spend $52,732 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: 56/33/11 Blend
62$973,000$973,000$973,000$973,000
63$1,074,657$1,023,088$1,008,006$1,131,764
64$1,128,165$1,017,112$985,668$1,164,682
65$1,185,364$1,009,077$960,814$1,194,509
66$1,246,575$998,825$933,304$1,225,747
67$1,312,148$986,190$902,993$1,258,539
68$1,382,470$970,997$869,726$1,293,044
69$1,457,964$953,058$833,344$1,329,441
70$1,539,095$932,176$793,680$1,367,929
71$1,626,372$908,142$750,558$1,408,732
72$1,720,356$880,735$703,795$1,452,096
73$1,821,661$849,720$653,201$1,498,300
74$1,930,963$814,848$598,575$1,547,650
75$2,049,003$775,858$539,710$1,600,492
76$2,176,598$732,472$476,387$1,657,206
77$2,314,643$684,395$408,378$1,718,220
78$2,464,124$631,318$335,446$1,784,006
79$2,626,124$572,911$257,342$1,855,091
80$2,801,833$508,829$173,808$1,932,061
81$2,992,562$438,703$84,572$2,015,567
82$3,199,751$362,147$0$2,106,332
83$3,424,984$278,751$0$2,206,408
84$3,670,005$188,082$0$2,326,112
85$3,936,732$89,685$0$2,456,532
86$4,227,276$0$0$2,598,803
87$4,543,958$0$0$2,760,328
88$4,889,335$0$0$2,972,086
89$5,266,220$0$0$3,203,245
90$5,677,710$0$0$3,455,714
91$6,127,214$0$0$3,731,596
92$6,618,483$0$0$4,033,205
93$7,155,651$0$0$4,363,089
94$7,743,265$0$0$4,724,054
95$8,386,335$0$0$5,119,190
96$9,090,375$0$0$5,551,897
97$9,861,459$0$0$6,025,923
98$10,706,276$0$0$6,545,393
99$11,632,191$0$0$7,114,851
100$12,647,316$0$0$7,739,302