Can I retire at age 63 with 977,000?

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 $977,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$80,680$79,961$79,260$78,576$77,907$76,902
2 years$39,940$39,197$38,476$37,777$37,099$36,087
3 years$26,362$25,615$24,896$24,204$23,537$22,551
4 years$19,575$18,830$18,118$17,438$16,787$15,834
5 years$15,503$14,763$14,060$13,394$12,761$11,844
6 years$12,790$12,055$11,363$10,711$10,097$9,217
7 years$10,852$10,124$9,443$8,806$8,212$7,368
8 years$9,400$8,678$8,008$7,387$6,813$6,006
9 years$8,271$7,556$6,897$6,292$5,737$4,967
10 years$7,368$6,660$6,013$5,424$4,888$4,155
11 years$6,630$5,929$5,294$4,721$4,204$3,506
12 years$6,015$5,322$4,698$4,141$3,643$2,980
13 years$5,496$4,809$4,198$3,655$3,177$2,547
14 years$5,051$4,371$3,772$3,245$2,785$2,188
15 years$4,665$3,993$3,405$2,894$2,452$1,887
16 years$4,328$3,664$3,087$2,591$2,167$1,633
17 years$4,032$3,374$2,809$2,328$1,922$1,417
18 years$3,768$3,118$2,565$2,098$1,709$1,233
19 years$3,532$2,890$2,348$1,896$1,523$1,075
20 years$3,321$2,685$2,155$1,717$1,360$939
21 years$3,129$2,501$1,982$1,558$1,217$821
22 years$2,955$2,335$1,827$1,417$1,091$719
23 years$2,797$2,184$1,687$1,290$979$631
24 years$2,652$2,046$1,560$1,177$880$554
25 years$2,519$1,920$1,445$1,075$792$487
26 years$2,396$1,805$1,340$983$714$428
27 years$2,283$1,698$1,244$900$643$376
28 years$2,178$1,600$1,157$824$580$331
29 years$2,080$1,510$1,076$756$524$292
30 years$1,989$1,426$1,003$694$474$257
31 years$1,904$1,348$935$637$428$227
32 years$1,824$1,275$872$585$387$200
33 years$1,750$1,208$814$538$351$176
34 years$1,680$1,145$761$495$317$156
35 years$1,614$1,086$711$456$287$137
36 years$1,552$1,030$665$420$260$121
37 years$1,493$979$623$387$236$107
38 years$1,438$930$583$357$214$95
39 years$1,385$884$546$329$194$84
40 years$1,336$841$512$303$176$74
41 years$1,289$801$480$280$160$65
42 years$1,244$763$450$258$145$58
43 years$1,201$727$423$238$132$51
44 years$1,161$693$397$220$119$45
45 years$1,122$661$373$203$108$40
46 years$1,085$630$350$188$98$35
47 years$1,050$601$329$173$89$31
48 years$1,017$574$309$160$81$27
49 years$985$548$290$148$74$24
50 years$954$524$273$137$67$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $977,000, adding $4,302 every year, while hoping to spend $43,607 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: 83/7/10 Blend
62$977,000$977,000$977,000$977,000
63$1,081,092$1,029,311$1,014,167$1,168,822
64$1,144,965$1,033,349$1,001,744$1,230,906
65$1,213,893$1,036,124$987,443$1,292,810
66$1,288,343$1,037,528$971,156$1,359,465
67$1,368,833$1,037,445$952,768$1,431,321
68$1,455,928$1,035,754$932,160$1,508,876
69$1,550,252$1,032,326$909,208$1,592,678
70$1,652,491$1,027,023$883,779$1,683,331
71$1,763,398$1,019,700$855,738$1,781,498
72$1,883,801$1,010,202$824,942$1,887,912
73$2,014,613$998,365$791,242$2,003,379
74$2,156,835$984,017$754,480$2,128,788
75$2,311,570$966,972$714,493$2,265,116
76$2,480,033$947,037$671,112$2,413,443
77$2,663,559$924,004$624,157$2,574,957
78$2,863,617$897,655$573,441$2,750,966
79$3,081,825$867,759$518,770$2,942,913
80$3,319,963$834,071$459,941$3,152,387
81$3,579,991$796,332$396,740$3,381,140
82$3,864,065$754,267$328,945$3,631,102
83$4,174,560$707,587$256,326$3,904,400
84$4,514,091$655,985$178,639$4,203,379
85$4,885,537$599,137$95,632$4,530,621
86$5,292,067$536,699$7,041$4,888,973
87$5,737,172$468,311$0$5,281,574
88$6,224,694$393,590$0$5,721,217
89$6,758,868$312,130$0$6,203,786
90$7,344,353$223,506$0$6,732,760
91$7,986,285$127,265$0$7,312,804
92$8,690,317$22,932$0$7,949,052
93$9,462,677$0$0$8,647,166
94$10,310,226$0$0$9,420,311
95$11,240,519$0$0$10,270,897
96$12,261,879$0$0$11,204,768
97$13,383,475$0$0$12,230,310
98$14,615,406$0$0$13,356,761
99$15,968,799$0$0$14,594,298
100$17,455,911$0$0$15,954,131