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%11.9%
1 years$80,349$79,634$78,935$78,254$77,588$76,970
2 years$39,777$39,036$38,318$37,622$36,947$36,324
3 years$26,255$25,511$24,794$24,105$23,441$22,832
4 years$19,495$18,753$18,044$17,366$16,718$16,128
5 years$15,440$14,703$14,003$13,339$12,709$12,140
6 years$12,737$12,006$11,316$10,667$10,056$9,509
7 years$10,808$10,082$9,404$8,770$8,178$7,653
8 years$9,361$8,642$7,975$7,357$6,785$6,281
9 years$8,237$7,525$6,869$6,267$5,714$5,231
10 years$7,338$6,633$5,989$5,402$4,868$4,407
11 years$6,603$5,905$5,272$4,701$4,187$3,747
12 years$5,991$5,300$4,679$4,124$3,628$3,209
13 years$5,473$4,789$4,180$3,641$3,164$2,765
14 years$5,030$4,353$3,756$3,232$2,773$2,394
15 years$4,646$3,977$3,391$2,882$2,442$2,081
16 years$4,311$3,649$3,075$2,581$2,158$1,816
17 years$4,015$3,360$2,798$2,319$1,914$1,589
18 years$3,752$3,105$2,554$2,090$1,702$1,395
19 years$3,518$2,878$2,338$1,888$1,517$1,227
20 years$3,307$2,674$2,146$1,710$1,355$1,081
21 years$3,116$2,491$1,974$1,552$1,212$954
22 years$2,943$2,325$1,819$1,411$1,087$843
23 years$2,786$2,175$1,680$1,285$975$746
24 years$2,641$2,038$1,553$1,172$877$661
25 years$2,509$1,912$1,439$1,070$789$586
26 years$2,386$1,797$1,334$979$711$520
27 years$2,273$1,691$1,239$896$641$462
28 years$2,169$1,594$1,152$821$578$411
29 years$2,071$1,503$1,072$753$522$365
30 years$1,981$1,420$998$691$472$325
31 years$1,896$1,342$931$634$426$290
32 years$1,817$1,270$868$583$386$258
33 years$1,743$1,203$811$536$349$230
34 years$1,673$1,140$758$493$316$205
35 years$1,607$1,081$708$454$286$183
36 years$1,545$1,026$663$418$259$163
37 years$1,487$975$620$385$235$145
38 years$1,432$926$581$355$213$130
39 years$1,380$881$544$328$193$116
40 years$1,330$838$510$302$175$103
41 years$1,283$798$478$279$159$92
42 years$1,239$760$449$257$144$82
43 years$1,196$724$421$237$131$73
44 years$1,156$690$395$219$119$66
45 years$1,118$658$371$202$108$59
46 years$1,081$628$348$187$98$52
47 years$1,046$599$327$173$89$47
48 years$1,013$572$308$160$81$42
49 years$981$546$289$148$73$37
50 years$950$522$272$136$67$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $973,000, adding $2,995 every year, while hoping to spend $56,094 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: 45/30/25 Blend
62$973,000$973,000$973,000$973,000
63$1,075,335$1,023,766$1,008,685$1,115,844
64$1,125,336$1,014,247$982,792$1,135,283
65$1,178,557$1,002,382$954,152$1,150,671
66$1,235,267$987,996$922,613$1,166,251
67$1,295,761$970,904$888,018$1,182,071
68$1,360,362$950,912$850,200$1,198,186
69$1,429,423$927,812$808,987$1,214,663
70$1,503,334$901,384$764,197$1,231,577
71$1,582,520$871,397$715,643$1,249,019
72$1,667,446$837,605$663,126$1,267,092
73$1,758,625$799,747$606,441$1,285,914
74$1,856,619$757,550$545,371$1,305,622
75$1,962,046$710,720$479,692$1,326,373
76$2,075,581$658,952$409,168$1,348,344
77$2,197,969$601,919$333,554$1,371,740
78$2,330,026$539,279$252,593$1,396,790
79$2,472,652$470,666$166,018$1,423,757
80$2,626,832$395,698$73,549$1,452,937
81$2,793,650$313,968$0$1,484,665
82$2,974,298$225,049$0$1,526,022
83$3,170,087$128,487$0$1,592,103
84$3,382,457$23,804$0$1,663,832
85$3,612,993$0$0$1,741,835
86$3,863,438$0$0$1,856,355
87$4,135,709$0$0$1,989,499
88$4,431,914$0$0$2,134,453
89$4,754,375$0$0$2,292,366
90$5,105,645$0$0$2,464,503
91$5,488,534$0$0$2,652,255
92$5,906,133$0$0$2,857,153
93$6,361,848$0$0$3,080,883
94$6,859,424$0$0$3,325,302
95$7,402,986$0$0$3,592,451
96$7,997,074$0$0$3,884,581
97$8,646,687$0$0$4,204,167
98$9,357,329$0$0$4,553,937
99$10,135,060$0$0$4,936,893
100$10,986,552$0$0$5,356,342