Can I retire at age 63 with 974,000?

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 $974,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$80,432$79,716$79,017$78,334$77,668$77,211
2 years$39,818$39,076$38,358$37,661$36,985$36,524
3 years$26,282$25,537$24,820$24,130$23,465$23,014
4 years$19,515$18,772$18,063$17,384$16,735$16,298
5 years$15,456$14,718$14,017$13,353$12,722$12,300
6 years$12,751$12,018$11,328$10,678$10,066$9,660
7 years$10,819$10,093$9,414$8,779$8,187$7,796
8 years$9,371$8,651$7,984$7,365$6,792$6,416
9 years$8,246$7,533$6,876$6,273$5,720$5,360
10 years$7,346$6,640$5,995$5,407$4,873$4,529
11 years$6,610$5,911$5,278$4,706$4,191$3,862
12 years$5,997$5,305$4,684$4,128$3,632$3,318
13 years$5,479$4,794$4,185$3,644$3,167$2,868
14 years$5,035$4,358$3,760$3,235$2,776$2,491
15 years$4,651$3,981$3,395$2,885$2,445$2,173
16 years$4,315$3,653$3,078$2,583$2,160$1,903
17 years$4,019$3,364$2,801$2,321$1,916$1,671
18 years$3,756$3,108$2,557$2,092$1,703$1,472
19 years$3,521$2,881$2,341$1,890$1,518$1,299
20 years$3,310$2,677$2,148$1,712$1,356$1,149
21 years$3,120$2,494$1,976$1,554$1,214$1,017
22 years$2,946$2,328$1,821$1,413$1,088$903
23 years$2,788$2,177$1,681$1,286$976$802
24 years$2,644$2,040$1,555$1,173$878$713
25 years$2,511$1,914$1,440$1,072$790$635
26 years$2,389$1,799$1,336$980$711$566
27 years$2,276$1,693$1,240$897$641$505
28 years$2,171$1,595$1,153$822$579$450
29 years$2,073$1,505$1,073$753$523$402
30 years$1,983$1,421$999$691$472$359
31 years$1,898$1,344$932$635$427$321
32 years$1,819$1,271$869$584$386$287
33 years$1,744$1,204$812$537$349$257
34 years$1,674$1,141$758$494$316$230
35 years$1,609$1,082$709$455$287$206
36 years$1,547$1,027$663$419$260$184
37 years$1,489$976$621$386$235$165
38 years$1,433$927$581$356$213$148
39 years$1,381$882$545$328$193$133
40 years$1,332$839$511$302$175$119
41 years$1,285$799$479$279$159$107
42 years$1,240$761$449$257$144$96
43 years$1,198$725$421$238$131$86
44 years$1,157$691$396$219$119$77
45 years$1,119$659$371$203$108$69
46 years$1,082$628$349$187$98$62
47 years$1,047$600$328$173$89$55
48 years$1,014$572$308$160$81$50
49 years$982$547$289$148$73$45
50 years$951$522$272$137$67$40

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $974,000, adding $4,624 every year, while hoping to spend $53,297 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: 45/47/8 Blend
62$974,000$974,000$974,000$974,000
63$1,078,118$1,026,496$1,011,399$1,124,013
64$1,131,378$1,020,086$988,573$1,149,780
65$1,188,285$1,011,577$963,196$1,171,834
66$1,249,153$1,000,808$935,127$1,194,520
67$1,314,330$987,610$904,217$1,217,915
68$1,384,194$971,805$870,310$1,242,106
69$1,459,162$953,204$833,246$1,267,192
70$1,539,691$931,606$792,854$1,293,287
71$1,626,282$906,797$748,957$1,320,521
72$1,719,486$878,553$701,371$1,349,040
73$1,819,908$846,636$649,901$1,379,012
74$1,928,211$810,794$594,345$1,410,624
75$2,045,125$770,760$534,492$1,444,089
76$2,171,452$726,251$470,122$1,479,648
77$2,308,073$676,970$401,004$1,517,572
78$2,455,956$622,601$326,896$1,558,166
79$2,616,165$562,810$247,549$1,601,772
80$2,789,871$497,245$162,699$1,648,776
81$2,978,361$425,533$72,073$1,699,609
82$3,183,051$347,281$0$1,754,757
83$3,405,497$262,073$0$1,816,864
84$3,647,413$169,470$0$1,891,138
85$3,910,683$69,007$0$1,972,126
86$4,197,380$0$0$2,060,614
87$4,509,786$0$0$2,178,065
88$4,850,412$0$0$2,345,144
89$5,222,021$0$0$2,527,529
90$5,627,657$0$0$2,726,729
91$6,070,666$0$0$2,944,400
92$6,554,735$0$0$3,182,370
93$7,083,922$0$0$3,442,648
94$7,662,696$0$0$3,727,448
95$8,295,975$0$0$4,039,208
96$8,989,177$0$0$4,380,612
97$9,748,266$0$0$4,754,615
98$10,579,811$0$0$5,164,472
99$11,491,047$0$0$5,613,769
100$12,489,939$0$0$6,106,454