Can I retire at age 63 with 979,000?

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 $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%11.7%
1 years$80,845$80,125$79,422$78,736$78,067$77,510
2 years$40,022$39,277$38,554$37,854$37,175$36,613
3 years$26,416$25,668$24,947$24,253$23,585$23,036
4 years$19,615$18,869$18,155$17,473$16,821$16,289
5 years$15,535$14,793$14,089$13,421$12,787$12,274
6 years$12,816$12,080$11,386$10,733$10,118$9,624
7 years$10,875$10,145$9,462$8,824$8,229$7,754
8 years$9,419$8,696$8,024$7,402$6,826$6,371
9 years$8,288$7,571$6,911$6,305$5,749$5,313
10 years$7,383$6,674$6,026$5,435$4,898$4,481
11 years$6,644$5,941$5,305$4,730$4,213$3,814
12 years$6,028$5,332$4,708$4,149$3,651$3,271
13 years$5,507$4,819$4,206$3,663$3,183$2,822
14 years$5,061$4,380$3,779$3,252$2,791$2,446
15 years$4,675$4,002$3,412$2,900$2,457$2,130
16 years$4,337$3,671$3,094$2,596$2,172$1,861
17 years$4,040$3,381$2,815$2,333$1,925$1,631
18 years$3,776$3,124$2,570$2,102$1,712$1,433
19 years$3,540$2,896$2,353$1,900$1,526$1,262
20 years$3,327$2,691$2,159$1,721$1,363$1,114
21 years$3,136$2,506$1,986$1,562$1,220$984
22 years$2,961$2,340$1,830$1,420$1,093$871
23 years$2,803$2,188$1,690$1,293$981$772
24 years$2,657$2,050$1,563$1,179$882$685
25 years$2,524$1,924$1,448$1,077$794$609
26 years$2,401$1,808$1,343$985$715$541
27 years$2,287$1,702$1,247$901$645$481
28 years$2,182$1,604$1,159$826$582$429
29 years$2,084$1,513$1,079$757$525$382
30 years$1,993$1,429$1,005$695$475$340
31 years$1,908$1,351$937$638$429$304
32 years$1,828$1,278$874$587$388$271
33 years$1,753$1,210$816$539$351$242
34 years$1,683$1,147$762$496$318$216
35 years$1,617$1,088$713$457$288$193
36 years$1,555$1,033$667$421$261$172
37 years$1,496$981$624$388$237$154
38 years$1,441$932$584$357$214$137
39 years$1,388$886$548$330$194$123
40 years$1,338$843$513$304$176$110
41 years$1,291$803$481$280$160$98
42 years$1,246$764$451$259$145$88
43 years$1,204$728$424$239$132$79
44 years$1,163$694$398$221$120$70
45 years$1,125$662$373$204$109$63
46 years$1,088$632$351$188$99$56
47 years$1,052$603$329$174$90$50
48 years$1,019$575$310$161$81$45
49 years$987$549$291$148$74$40
50 years$956$525$274$137$67$36

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $979,000, adding $2,032 every year, while hoping to spend $58,965 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: 61/20/19 Blend
62$979,000$979,000$979,000$979,000
63$1,080,954$1,029,067$1,013,893$1,141,466
64$1,128,473$1,016,753$985,120$1,170,258
65$1,178,863$1,001,859$953,407$1,194,933
66$1,232,354$984,197$918,593$1,220,509
67$1,289,198$963,567$880,510$1,247,080
68$1,349,671$939,757$838,982$1,274,751
69$1,414,076$912,543$793,826$1,303,644
70$1,482,742$881,688$744,849$1,333,893
71$1,556,031$846,941$691,851$1,365,649
72$1,634,341$808,035$634,623$1,399,083
73$1,718,105$764,690$572,944$1,434,384
74$1,807,801$716,609$506,587$1,471,766
75$1,903,951$663,477$435,312$1,511,468
76$2,007,128$604,962$358,869$1,553,757
77$2,117,962$540,712$276,998$1,598,930
78$2,237,144$470,357$189,427$1,647,322
79$2,365,431$393,503$95,872$1,699,303
80$2,503,657$309,736$0$1,755,290
81$2,652,735$218,619$0$1,816,547
82$2,813,672$119,689$0$1,903,582
83$2,987,570$12,457$0$1,997,575
84$3,175,644$0$0$2,099,234
85$3,379,226$0$0$2,232,140
86$3,599,783$0$0$2,379,161
87$3,838,927$0$0$2,538,636
88$4,098,430$0$0$2,711,758
89$4,380,243$0$0$2,899,834
90$4,686,509$0$0$3,104,306
91$5,019,589$0$0$3,326,758
92$5,382,076$0$0$3,568,933
93$5,776,828$0$0$3,832,749
94$6,206,987$0$0$4,120,318
95$6,676,011$0$0$4,433,963
96$7,187,706$0$0$4,776,241
97$7,746,263$0$0$5,149,966
98$8,356,293$0$0$5,558,238
99$9,022,874$0$0$6,004,467
100$9,751,594$0$0$6,492,409