Can I retire at age 63 with 975,000?

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 $975,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$80,515$79,797$79,098$78,415$77,748$77,388
2 years$39,859$39,116$38,397$37,699$37,023$36,659
3 years$26,309$25,563$24,845$24,154$23,489$23,133
4 years$19,535$18,791$18,081$17,402$16,752$16,407
5 years$15,472$14,733$14,032$13,366$12,735$12,401
6 years$12,764$12,030$11,340$10,689$10,077$9,755
7 years$10,830$10,103$9,423$8,788$8,195$7,886
8 years$9,381$8,660$7,992$7,372$6,799$6,502
9 years$8,254$7,540$6,883$6,279$5,725$5,441
10 years$7,353$6,646$6,001$5,413$4,878$4,606
11 years$6,617$5,917$5,283$4,711$4,196$3,935
12 years$6,003$5,311$4,689$4,132$3,636$3,387
13 years$5,485$4,799$4,189$3,648$3,170$2,933
14 years$5,040$4,362$3,764$3,238$2,779$2,553
15 years$4,656$3,985$3,398$2,888$2,447$2,231
16 years$4,320$3,656$3,081$2,586$2,163$1,958
17 years$4,023$3,367$2,804$2,323$1,918$1,723
18 years$3,760$3,112$2,559$2,094$1,705$1,520
19 years$3,525$2,884$2,343$1,892$1,520$1,345
20 years$3,314$2,680$2,150$1,714$1,357$1,192
21 years$3,123$2,496$1,978$1,555$1,215$1,058
22 years$2,949$2,330$1,823$1,414$1,089$941
23 years$2,791$2,179$1,683$1,288$977$837
24 years$2,647$2,042$1,557$1,174$879$747
25 years$2,514$1,916$1,442$1,073$791$666
26 years$2,391$1,801$1,337$981$712$595
27 years$2,278$1,695$1,242$898$642$532
28 years$2,173$1,597$1,154$822$579$476
29 years$2,076$1,507$1,074$754$523$426
30 years$1,985$1,423$1,000$692$473$381
31 years$1,900$1,345$933$636$427$342
32 years$1,820$1,273$870$584$387$306
33 years$1,746$1,205$813$537$350$275
34 years$1,676$1,142$759$494$317$247
35 years$1,610$1,083$710$455$287$221
36 years$1,549$1,028$664$419$260$199
37 years$1,490$977$622$386$236$178
38 years$1,435$928$582$356$214$160
39 years$1,383$883$545$328$194$144
40 years$1,333$840$511$303$176$129
41 years$1,286$799$479$279$159$116
42 years$1,241$761$450$258$145$105
43 years$1,199$725$422$238$131$94
44 years$1,158$691$396$220$119$84
45 years$1,120$659$372$203$108$76
46 years$1,083$629$349$187$98$68
47 years$1,048$600$328$173$89$61
48 years$1,015$573$308$160$81$55
49 years$983$547$290$148$74$50
50 years$952$523$272$137$67$45

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $975,000, adding $5,478 every year, while hoping to spend $39,525 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: 68/7/25 Blend
62$975,000$975,000$975,000$975,000
63$1,080,101$1,028,426$1,013,313$1,146,258
64$1,148,217$1,036,764$1,005,205$1,199,690
65$1,221,956$1,044,187$995,500$1,253,092
66$1,301,850$1,050,606$984,104$1,310,600
67$1,388,483$1,055,931$970,916$1,372,618
68$1,482,500$1,060,063$955,833$1,439,594
69$1,584,606$1,062,897$938,745$1,512,023
70$1,695,581$1,064,324$919,538$1,590,451
71$1,816,279$1,064,225$898,091$1,675,478
72$1,947,643$1,062,475$874,280$1,767,770
73$2,090,707$1,058,941$847,974$1,868,058
74$2,246,614$1,053,484$819,035$1,977,152
75$2,416,616$1,045,952$787,321$2,095,945
76$2,602,095$1,036,188$752,680$2,225,419
77$2,804,571$1,024,024$714,957$2,366,663
78$3,025,717$1,009,281$673,988$2,520,874
79$3,267,375$991,770$629,602$2,689,375
80$3,531,573$971,292$581,619$2,873,624
81$3,820,543$947,635$529,853$3,075,231
82$4,136,744$920,575$474,108$3,295,971
83$4,482,881$889,873$414,181$3,537,803
84$4,861,938$855,279$349,858$3,802,886
85$5,277,194$816,526$280,917$4,093,604
86$5,732,266$773,334$207,126$4,412,586
87$6,231,134$725,405$128,242$4,762,729
88$6,778,184$672,424$44,012$5,147,233
89$7,378,244$614,057$0$5,569,621
90$8,036,633$549,955$0$6,046,023
91$8,759,212$479,745$0$6,581,813
92$9,552,432$403,033$0$7,170,046
93$10,423,405$319,406$0$7,816,018
94$11,379,960$228,425$0$8,525,564
95$12,430,725$129,627$0$9,305,115
96$13,585,204$22,524$0$10,161,757
97$14,853,865$0$0$11,103,295
98$16,248,244$0$0$12,145,528
99$17,781,046$0$0$13,293,195
100$19,466,272$0$0$14,555,053