Can I retire at age 63 with 981,000?

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 $981,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$81,010$80,288$79,584$78,897$78,226$77,864
2 years$40,104$39,357$38,633$37,931$37,251$36,885
3 years$26,470$25,720$24,998$24,303$23,633$23,275
4 years$19,655$18,907$18,192$17,509$16,855$16,508
5 years$15,567$14,823$14,118$13,449$12,813$12,478
6 years$12,842$12,104$11,409$10,755$10,139$9,815
7 years$10,897$10,165$9,481$8,842$8,245$7,934
8 years$9,438$8,714$8,041$7,418$6,840$6,542
9 years$8,305$7,587$6,926$6,318$5,761$5,474
10 years$7,398$6,687$6,038$5,446$4,908$4,634
11 years$6,657$5,953$5,316$4,740$4,221$3,959
12 years$6,040$5,343$4,718$4,157$3,658$3,407
13 years$5,518$4,829$4,215$3,670$3,190$2,951
14 years$5,071$4,389$3,787$3,258$2,796$2,568
15 years$4,684$4,010$3,419$2,906$2,462$2,245
16 years$4,346$3,679$3,100$2,602$2,176$1,970
17 years$4,048$3,388$2,821$2,338$1,929$1,733
18 years$3,783$3,131$2,575$2,107$1,716$1,530
19 years$3,547$2,902$2,357$1,904$1,529$1,353
20 years$3,334$2,696$2,163$1,724$1,366$1,199
21 years$3,142$2,511$1,990$1,565$1,222$1,064
22 years$2,968$2,344$1,834$1,423$1,096$946
23 years$2,808$2,193$1,693$1,296$983$843
24 years$2,663$2,054$1,566$1,182$884$751
25 years$2,529$1,928$1,451$1,079$795$670
26 years$2,406$1,812$1,345$987$716$599
27 years$2,292$1,705$1,249$903$646$535
28 years$2,186$1,607$1,161$828$583$479
29 years$2,088$1,516$1,081$759$526$429
30 years$1,997$1,432$1,007$696$476$384
31 years$1,912$1,353$938$640$430$344
32 years$1,832$1,280$876$588$389$308
33 years$1,757$1,213$818$541$352$277
34 years$1,687$1,149$764$497$319$248
35 years$1,620$1,090$714$458$289$223
36 years$1,558$1,035$668$422$262$200
37 years$1,499$983$625$389$237$180
38 years$1,444$934$586$358$215$161
39 years$1,391$888$549$330$195$145
40 years$1,341$845$514$305$177$130
41 years$1,294$804$482$281$160$117
42 years$1,249$766$452$259$146$105
43 years$1,206$730$424$239$132$95
44 years$1,166$696$398$221$120$85
45 years$1,127$663$374$204$109$76
46 years$1,090$633$351$189$99$69
47 years$1,055$604$330$174$90$62
48 years$1,021$577$310$161$81$56
49 years$989$551$292$149$74$50
50 years$958$526$274$138$67$45

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $981,000, adding $6,208 every year, while hoping to spend $56,112 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: 66/9/25 Blend
62$981,000$981,000$981,000$981,000
63$1,087,466$1,035,473$1,020,267$1,151,793
64$1,138,684$1,026,508$994,743$1,186,900
65$1,193,247$1,015,223$966,484$1,218,368
66$1,251,435$1,001,446$935,338$1,251,496
67$1,313,557$984,993$901,147$1,286,452
68$1,379,951$965,669$863,748$1,323,420
69$1,450,989$943,270$822,966$1,362,606
70$1,527,077$917,577$778,622$1,404,239
71$1,608,660$888,359$730,527$1,448,572
72$1,696,228$855,374$678,484$1,495,889
73$1,790,318$818,361$622,288$1,546,501
74$1,891,518$777,049$561,723$1,600,757
75$2,000,477$731,149$496,565$1,659,042
76$2,117,904$680,354$426,578$1,721,782
77$2,244,581$624,341$351,519$1,789,453
78$2,381,363$562,769$271,130$1,862,580
79$2,529,195$495,277$185,145$1,941,745
80$2,689,110$421,484$93,285$2,027,594
81$2,862,249$340,985$0$2,120,841
82$3,049,860$253,356$0$2,223,544
83$3,253,322$158,146$0$2,361,951
84$3,474,147$54,881$0$2,512,207
85$3,713,998$0$0$2,675,476
86$3,974,708$0$0$2,858,676
87$4,258,289$0$0$3,063,916
88$4,566,957$0$0$3,287,370
89$4,903,151$0$0$3,530,811
90$5,269,553$0$0$3,796,189
91$5,669,116$0$0$4,085,650
92$6,105,090$0$0$4,401,558
93$6,581,051$0$0$4,746,512
94$7,100,937$0$0$5,123,375
95$7,669,083$0$0$5,535,299
96$8,290,262$0$0$5,985,753
97$8,969,726$0$0$6,478,558
98$9,713,263$0$0$7,017,920
99$10,527,243$0$0$7,608,471
100$11,418,679$0$0$8,255,313