Can I retire at age 63 with 976,000?

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 $976,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.2%
1 years$80,597$79,879$79,179$78,495$77,828$75,854
2 years$39,900$39,156$38,436$37,738$37,061$35,085
3 years$26,336$25,589$24,871$24,179$23,513$21,597
4 years$19,555$18,811$18,100$17,420$16,770$14,928
5 years$15,487$14,748$14,046$13,380$12,748$10,986
6 years$12,777$12,043$11,351$10,700$10,087$8,407
7 years$10,841$10,113$9,433$8,797$8,203$6,605
8 years$9,390$8,669$8,000$7,380$6,806$5,288
9 years$8,262$7,548$6,890$6,286$5,731$4,293
10 years$7,361$6,653$6,007$5,418$4,883$3,523
11 years$6,623$5,923$5,289$4,716$4,200$2,915
12 years$6,009$5,316$4,693$4,136$3,639$2,429
13 years$5,490$4,804$4,193$3,652$3,174$2,034
14 years$5,046$4,367$3,768$3,242$2,782$1,711
15 years$4,661$3,989$3,402$2,891$2,450$1,444
16 years$4,324$3,660$3,084$2,589$2,165$1,223
17 years$4,027$3,371$2,806$2,326$1,920$1,038
18 years$3,764$3,115$2,562$2,096$1,707$883
19 years$3,529$2,887$2,345$1,894$1,521$752
20 years$3,317$2,682$2,152$1,715$1,359$642
21 years$3,126$2,499$1,980$1,557$1,216$548
22 years$2,952$2,332$1,825$1,415$1,090$469
23 years$2,794$2,181$1,685$1,289$978$402
24 years$2,649$2,044$1,558$1,176$879$344
25 years$2,516$1,918$1,443$1,074$791$295
26 years$2,394$1,803$1,338$982$713$253
27 years$2,280$1,697$1,243$899$643$217
28 years$2,175$1,599$1,155$823$580$186
29 years$2,078$1,508$1,075$755$524$160
30 years$1,987$1,424$1,002$693$473$137
31 years$1,902$1,346$934$636$428$118
32 years$1,822$1,274$871$585$387$102
33 years$1,748$1,206$813$538$350$87
34 years$1,678$1,143$760$495$317$75
35 years$1,612$1,085$711$456$287$64
36 years$1,550$1,029$665$420$260$55
37 years$1,492$978$622$387$236$48
38 years$1,436$929$583$356$214$41
39 years$1,384$884$546$329$194$35
40 years$1,334$841$512$303$176$30
41 years$1,287$800$480$280$160$26
42 years$1,243$762$450$258$145$22
43 years$1,200$726$422$238$131$19
44 years$1,160$692$396$220$119$17
45 years$1,121$660$372$203$108$14
46 years$1,084$630$350$188$98$12
47 years$1,049$601$328$173$89$11
48 years$1,016$574$309$160$81$9
49 years$984$548$290$148$74$8
50 years$953$523$273$137$67$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $976,000, adding $4,147 every year, while hoping to spend $23,464 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: 66/12/22 Blend
62$976,000$976,000$976,000$976,000
63$1,079,830$1,028,102$1,012,974$1,144,774
64$1,165,007$1,053,513$1,021,943$1,214,320
65$1,258,085$1,079,383$1,030,426$1,287,266
66$1,359,847$1,105,710$1,038,382$1,366,468
67$1,471,152$1,132,490$1,045,768$1,452,540
68$1,592,946$1,159,719$1,052,538$1,546,160
69$1,726,273$1,187,392$1,058,645$1,648,075
70$1,872,282$1,215,503$1,064,038$1,759,109
71$2,032,236$1,244,043$1,068,665$1,880,167
72$2,207,528$1,273,006$1,072,469$2,012,250
73$2,399,692$1,302,379$1,075,393$2,156,459
74$2,610,417$1,332,152$1,077,375$2,314,006
75$2,841,564$1,362,312$1,078,351$2,486,228
76$3,095,182$1,392,843$1,078,254$2,674,600
77$3,373,527$1,423,730$1,077,013$2,880,744
78$3,679,087$1,454,953$1,074,553$3,106,449
79$4,014,600$1,486,492$1,070,797$3,353,689
80$4,383,083$1,518,324$1,065,662$3,624,634
81$4,787,860$1,550,424$1,059,064$3,921,681
82$5,232,592$1,582,764$1,050,913$4,247,468
83$5,721,311$1,615,315$1,041,114$4,604,904
84$6,258,463$1,648,044$1,029,569$4,997,194
85$6,848,942$1,680,913$1,016,175$5,427,872
86$7,498,141$1,713,885$1,000,824$5,900,829
87$8,212,003$1,746,917$983,403$6,420,357
88$8,997,074$1,779,962$963,794$6,991,185
89$9,860,566$1,812,972$941,872$7,618,525
90$10,810,427$1,845,891$917,508$8,308,120
91$11,855,413$1,878,661$890,566$9,066,300
92$13,005,170$1,911,221$860,906$9,900,042
93$14,270,329$1,943,502$828,377$10,817,036
94$15,662,600$1,975,431$792,826$11,825,755
95$17,194,889$2,006,932$754,089$12,935,538
96$18,881,415$2,037,918$711,998$14,156,678
97$20,737,845$2,068,302$666,376$15,500,519
98$22,781,442$2,097,986$617,037$16,979,563
99$25,031,229$2,126,867$563,787$18,607,588
100$27,508,166$2,154,834$506,425$20,399,779