Can I retire at age 63 with 979,000?

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 $979,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.6%
1 years$80,845$80,125$79,422$78,736$78,067$76,273
2 years$40,022$39,277$38,554$37,854$37,175$35,377
3 years$26,416$25,668$24,947$24,253$23,585$21,840
4 years$19,615$18,869$18,155$17,473$16,821$15,142
5 years$15,535$14,793$14,089$13,421$12,787$11,179
6 years$12,816$12,080$11,386$10,733$10,118$8,582
7 years$10,875$10,145$9,462$8,824$8,229$6,766
8 years$9,419$8,696$8,024$7,402$6,826$5,435
9 years$8,288$7,571$6,911$6,305$5,749$4,429
10 years$7,383$6,674$6,026$5,435$4,898$3,648
11 years$6,644$5,941$5,305$4,730$4,213$3,030
12 years$6,028$5,332$4,708$4,149$3,651$2,534
13 years$5,507$4,819$4,206$3,663$3,183$2,131
14 years$5,061$4,380$3,779$3,252$2,791$1,800
15 years$4,675$4,002$3,412$2,900$2,457$1,526
16 years$4,337$3,671$3,094$2,596$2,172$1,298
17 years$4,040$3,381$2,815$2,333$1,925$1,106
18 years$3,776$3,124$2,570$2,102$1,712$945
19 years$3,540$2,896$2,353$1,900$1,526$809
20 years$3,327$2,691$2,159$1,721$1,363$693
21 years$3,136$2,506$1,986$1,562$1,220$595
22 years$2,961$2,340$1,830$1,420$1,093$511
23 years$2,803$2,188$1,690$1,293$981$440
24 years$2,657$2,050$1,563$1,179$882$379
25 years$2,524$1,924$1,448$1,077$794$326
26 years$2,401$1,808$1,343$985$715$281
27 years$2,287$1,702$1,247$901$645$242
28 years$2,182$1,604$1,159$826$582$209
29 years$2,084$1,513$1,079$757$525$180
30 years$1,993$1,429$1,005$695$475$156
31 years$1,908$1,351$937$638$429$134
32 years$1,828$1,278$874$587$388$116
33 years$1,753$1,210$816$539$351$100
34 years$1,683$1,147$762$496$318$87
35 years$1,617$1,088$713$457$288$75
36 years$1,555$1,033$667$421$261$65
37 years$1,496$981$624$388$237$56
38 years$1,441$932$584$357$214$48
39 years$1,388$886$548$330$194$42
40 years$1,338$843$513$304$176$36
41 years$1,291$803$481$280$160$31
42 years$1,246$764$451$259$145$27
43 years$1,204$728$424$239$132$23
44 years$1,163$694$398$221$120$20
45 years$1,125$662$373$204$109$17
46 years$1,088$632$351$188$99$15
47 years$1,052$603$329$174$90$13
48 years$1,019$575$310$161$81$11
49 years$987$549$291$148$74$10
50 years$956$525$274$137$67$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $979,000, adding $6,633 every year, while hoping to spend $24,517 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: 75/19/6 Blend
62$979,000$979,000$979,000$979,000
63$1,085,700$1,033,813$1,018,638$1,165,945
64$1,170,355$1,058,384$1,026,677$1,244,200
65$1,262,824$1,083,337$1,034,163$1,326,135
66$1,363,877$1,108,665$1,041,052$1,415,206
67$1,474,363$1,134,361$1,047,298$1,512,108
68$1,595,217$1,160,413$1,052,851$1,617,609
69$1,727,467$1,186,812$1,057,660$1,732,556
70$1,872,248$1,213,544$1,061,671$1,857,878
71$2,030,806$1,240,597$1,064,826$1,994,601
72$2,204,517$1,267,955$1,067,066$2,143,854
73$2,394,892$1,295,599$1,068,328$2,306,880
74$2,603,600$1,323,513$1,068,545$2,485,049
75$2,832,476$1,351,673$1,067,650$2,679,870
76$3,083,541$1,380,058$1,065,569$2,893,006
77$3,359,022$1,408,641$1,062,226$3,126,285
78$3,661,373$1,437,395$1,057,541$3,381,727
79$3,993,296$1,466,289$1,051,431$3,661,552
80$4,357,765$1,495,291$1,043,807$3,968,209
81$4,758,061$1,524,364$1,034,579$4,304,394
82$5,197,796$1,553,470$1,023,649$4,673,080
83$5,680,947$1,582,566$1,010,917$5,077,540
84$6,211,898$1,611,606$996,277$5,521,382
85$6,795,478$1,640,542$979,619$6,008,579
86$7,437,007$1,669,319$960,827$6,543,512
87$8,142,347$1,697,880$939,780$7,131,005
88$8,917,954$1,726,164$916,350$7,776,376
89$9,770,944$1,754,105$890,406$8,485,484
90$10,709,154$1,781,630$861,809$9,264,784
91$11,741,221$1,808,663$830,413$10,121,391
92$12,876,661$1,835,123$796,067$11,063,142
93$14,125,958$1,860,921$758,613$12,098,677
94$15,500,663$1,885,963$717,883$13,237,514
95$17,013,504$1,910,149$673,706$14,490,141
96$18,678,506$1,933,371$625,900$15,868,118
97$20,511,121$1,955,514$574,275$17,384,181
98$22,528,376$1,976,455$518,634$19,052,367
99$24,749,033$1,996,064$458,771$20,888,143
100$27,193,764$2,014,201$394,469$22,908,554