Can I retire at age 63 with 977,000?

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 $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%12%
1 years$80,680$79,961$79,260$78,576$77,907$77,255
2 years$39,940$39,197$38,476$37,777$37,099$36,441
3 years$26,362$25,615$24,896$24,204$23,537$22,894
4 years$19,575$18,830$18,118$17,438$16,787$16,164
5 years$15,503$14,763$14,060$13,394$12,761$12,161
6 years$12,790$12,055$11,363$10,711$10,097$9,520
7 years$10,852$10,124$9,443$8,806$8,212$7,657
8 years$9,400$8,678$8,008$7,387$6,813$6,281
9 years$8,271$7,556$6,897$6,292$5,737$5,229
10 years$7,368$6,660$6,013$5,424$4,888$4,402
11 years$6,630$5,929$5,294$4,721$4,204$3,740
12 years$6,015$5,322$4,698$4,141$3,643$3,201
13 years$5,496$4,809$4,198$3,655$3,177$2,756
14 years$5,051$4,371$3,772$3,245$2,785$2,385
15 years$4,665$3,993$3,405$2,894$2,452$2,072
16 years$4,328$3,664$3,087$2,591$2,167$1,807
17 years$4,032$3,374$2,809$2,328$1,922$1,580
18 years$3,768$3,118$2,565$2,098$1,709$1,386
19 years$3,532$2,890$2,348$1,896$1,523$1,218
20 years$3,321$2,685$2,155$1,717$1,360$1,072
21 years$3,129$2,501$1,982$1,558$1,217$946
22 years$2,955$2,335$1,827$1,417$1,091$835
23 years$2,797$2,184$1,687$1,290$979$739
24 years$2,652$2,046$1,560$1,177$880$654
25 years$2,519$1,920$1,445$1,075$792$579
26 years$2,396$1,805$1,340$983$714$514
27 years$2,283$1,698$1,244$900$643$456
28 years$2,178$1,600$1,157$824$580$405
29 years$2,080$1,510$1,076$756$524$360
30 years$1,989$1,426$1,003$694$474$320
31 years$1,904$1,348$935$637$428$285
32 years$1,824$1,275$872$585$387$253
33 years$1,750$1,208$814$538$351$226
34 years$1,680$1,145$761$495$317$201
35 years$1,614$1,086$711$456$287$179
36 years$1,552$1,030$665$420$260$159
37 years$1,493$979$623$387$236$142
38 years$1,438$930$583$357$214$127
39 years$1,385$884$546$329$194$113
40 years$1,336$841$512$303$176$101
41 years$1,289$801$480$280$160$90
42 years$1,244$763$450$258$145$80
43 years$1,201$727$423$238$132$71
44 years$1,161$693$397$220$119$64
45 years$1,122$661$373$203$108$57
46 years$1,085$630$350$188$98$51
47 years$1,050$601$329$173$89$45
48 years$1,017$574$309$160$81$40
49 years$985$548$290$148$74$36
50 years$954$524$273$137$67$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $977,000, adding $2,565 every year, while hoping to spend $26,768 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: 55/36/9 Blend
62$977,000$977,000$977,000$977,000
63$1,079,300$1,027,519$1,012,375$1,136,159
64$1,160,907$1,049,386$1,017,809$1,196,774
65$1,249,942$1,071,428$1,022,527$1,259,569
66$1,347,132$1,093,625$1,026,479$1,327,297
67$1,453,282$1,115,954$1,029,608$1,400,431
68$1,569,274$1,138,393$1,031,857$1,479,493
69$1,696,082$1,160,916$1,033,166$1,565,056
70$1,834,776$1,183,495$1,033,471$1,657,754
71$1,986,536$1,206,100$1,032,705$1,758,284
72$2,152,662$1,228,697$1,030,800$1,867,415
73$2,334,582$1,251,252$1,027,680$1,985,993
74$2,533,873$1,273,727$1,023,271$2,114,951
75$2,752,267$1,296,079$1,017,490$2,255,317
76$2,991,676$1,318,264$1,010,253$2,408,225
77$3,254,203$1,340,235$1,001,473$2,574,922
78$3,542,165$1,361,940$991,055$2,756,787
79$3,858,114$1,383,323$978,904$2,955,335
80$4,204,862$1,404,326$964,917$3,172,239
81$4,585,504$1,424,884$948,988$3,409,341
82$5,003,451$1,444,930$931,005$3,668,673
83$5,462,462$1,464,390$910,852$3,952,474
84$5,966,674$1,483,186$888,407$4,263,211
85$6,520,648$1,501,235$863,542$4,603,606
86$7,129,406$1,518,448$836,122$4,976,656
87$7,798,482$1,534,729$806,010$5,385,667
88$8,533,974$1,549,977$773,057$5,834,282
89$9,342,597$1,564,083$737,112$6,326,518
90$10,231,752$1,576,933$698,015$6,866,800
91$11,209,591$1,588,403$655,599$7,460,008
92$12,285,096$1,598,363$609,690$8,111,522
93$13,468,166$1,606,672$560,104$8,827,271
94$14,769,703$1,613,183$506,652$9,613,789
95$16,201,722$1,617,739$449,134$10,478,281
96$17,777,461$1,620,171$387,343$11,428,687
97$19,511,505$1,620,302$321,062$12,473,761
98$21,419,925$1,617,943$250,064$13,623,151
99$23,520,428$1,612,893$174,112$14,887,492
100$25,832,526$1,604,940$92,959$16,278,507