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%17%
1 years$80,680$79,961$79,260$78,576$77,907$75,687
2 years$39,940$39,197$38,476$37,777$37,099$34,879
3 years$26,362$25,615$24,896$24,204$23,537$21,387
4 years$19,575$18,830$18,118$17,438$16,787$14,724
5 years$15,503$14,763$14,060$13,394$12,761$10,790
6 years$12,790$12,055$11,363$10,711$10,097$8,221
7 years$10,852$10,124$9,443$8,806$8,212$6,429
8 years$9,400$8,678$8,008$7,387$6,813$5,123
9 years$8,271$7,556$6,897$6,292$5,737$4,139
10 years$7,368$6,660$6,013$5,424$4,888$3,380
11 years$6,630$5,929$5,294$4,721$4,204$2,783
12 years$6,015$5,322$4,698$4,141$3,643$2,306
13 years$5,496$4,809$4,198$3,655$3,177$1,921
14 years$5,051$4,371$3,772$3,245$2,785$1,607
15 years$4,665$3,993$3,405$2,894$2,452$1,349
16 years$4,328$3,664$3,087$2,591$2,167$1,136
17 years$4,032$3,374$2,809$2,328$1,922$958
18 years$3,768$3,118$2,565$2,098$1,709$810
19 years$3,532$2,890$2,348$1,896$1,523$686
20 years$3,321$2,685$2,155$1,717$1,360$582
21 years$3,129$2,501$1,982$1,558$1,217$494
22 years$2,955$2,335$1,827$1,417$1,091$420
23 years$2,797$2,184$1,687$1,290$979$357
24 years$2,652$2,046$1,560$1,177$880$304
25 years$2,519$1,920$1,445$1,075$792$259
26 years$2,396$1,805$1,340$983$714$221
27 years$2,283$1,698$1,244$900$643$188
28 years$2,178$1,600$1,157$824$580$161
29 years$2,080$1,510$1,076$756$524$137
30 years$1,989$1,426$1,003$694$474$117
31 years$1,904$1,348$935$637$428$100
32 years$1,824$1,275$872$585$387$85
33 years$1,750$1,208$814$538$351$73
34 years$1,680$1,145$761$495$317$62
35 years$1,614$1,086$711$456$287$53
36 years$1,552$1,030$665$420$260$45
37 years$1,493$979$623$387$236$39
38 years$1,438$930$583$357$214$33
39 years$1,385$884$546$329$194$28
40 years$1,336$841$512$303$176$24
41 years$1,289$801$480$280$160$21
42 years$1,244$763$450$258$145$18
43 years$1,201$727$423$238$132$15
44 years$1,161$693$397$220$119$13
45 years$1,122$661$373$203$108$11
46 years$1,085$630$350$188$98$9
47 years$1,050$601$329$173$89$8
48 years$1,017$574$309$160$81$7
49 years$985$548$290$148$74$6
50 years$954$524$273$137$67$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $977,000, adding $6,623 every year, while hoping to spend $24,024 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: 49/30/21 Blend
62$977,000$977,000$977,000$977,000
63$1,083,486$1,031,705$1,016,561$1,129,877
64$1,168,440$1,056,697$1,025,055$1,187,782
65$1,261,254$1,082,108$1,033,027$1,247,685
66$1,362,705$1,107,935$1,040,437$1,312,262
67$1,473,647$1,134,170$1,047,238$1,381,962
68$1,595,022$1,160,806$1,053,383$1,457,282
69$1,727,865$1,187,837$1,058,822$1,538,767
70$1,873,318$1,215,252$1,063,503$1,627,019
71$2,032,637$1,243,040$1,067,371$1,722,703
72$2,207,207$1,271,189$1,070,369$1,826,548
73$2,398,550$1,299,686$1,072,435$1,939,360
74$2,608,346$1,328,515$1,073,505$2,062,026
75$2,838,444$1,357,658$1,073,514$2,195,527
76$3,090,879$1,387,097$1,072,390$2,340,938
77$3,367,894$1,416,810$1,070,061$2,499,450
78$3,671,959$1,446,774$1,066,448$2,672,371
79$4,005,797$1,476,964$1,061,472$2,861,146
80$4,372,403$1,507,350$1,055,046$3,067,366
81$4,775,081$1,537,903$1,047,083$3,292,786
82$5,217,468$1,568,589$1,037,489$3,539,338
83$5,703,571$1,599,371$1,026,166$3,809,155
84$6,237,805$1,630,210$1,013,012$4,104,585
85$6,825,034$1,661,063$997,921$4,428,218
86$7,470,616$1,691,884$980,780$4,782,909
87$8,180,454$1,722,622$961,471$5,171,804
88$8,961,052$1,753,222$939,873$5,598,372
89$9,819,577$1,783,627$915,856$6,066,436
90$10,763,923$1,813,774$889,286$6,580,209
91$11,802,788$1,843,594$860,022$7,144,339
92$12,945,758$1,873,016$827,918$7,763,944
93$14,203,392$1,901,960$792,820$8,444,670
94$15,587,325$1,930,343$754,567$9,192,738
95$17,110,377$1,958,076$712,990$10,015,006
96$18,786,676$1,985,061$667,915$10,919,034
97$20,631,784$2,011,197$619,158$11,913,154
98$22,662,853$2,036,372$566,526$13,006,551
99$24,898,779$2,060,470$509,821$14,209,349
100$27,360,386$2,083,364$448,831$15,532,707