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%19%
1 years$81,010$80,288$79,584$78,897$78,226$75,391
2 years$40,104$39,357$38,633$37,931$37,251$34,425
3 years$26,470$25,720$24,998$24,303$23,633$20,906
4 years$19,655$18,907$18,192$17,509$16,855$14,248
5 years$15,567$14,823$14,118$13,449$12,813$10,332
6 years$12,842$12,104$11,409$10,755$10,139$7,786
7 years$10,897$10,165$9,481$8,842$8,245$6,020
8 years$9,438$8,714$8,041$7,418$6,840$4,741
9 years$8,305$7,587$6,926$6,318$5,761$3,784
10 years$7,398$6,687$6,038$5,446$4,908$3,051
11 years$6,657$5,953$5,316$4,740$4,221$2,480
12 years$6,040$5,343$4,718$4,157$3,658$2,028
13 years$5,518$4,829$4,215$3,670$3,190$1,666
14 years$5,071$4,389$3,787$3,258$2,796$1,375
15 years$4,684$4,010$3,419$2,906$2,462$1,138
16 years$4,346$3,679$3,100$2,602$2,176$944
17 years$4,048$3,388$2,821$2,338$1,929$785
18 years$3,783$3,131$2,575$2,107$1,716$654
19 years$3,547$2,902$2,357$1,904$1,529$546
20 years$3,334$2,696$2,163$1,724$1,366$456
21 years$3,142$2,511$1,990$1,565$1,222$381
22 years$2,968$2,344$1,834$1,423$1,096$319
23 years$2,808$2,193$1,693$1,296$983$267
24 years$2,663$2,054$1,566$1,182$884$224
25 years$2,529$1,928$1,451$1,079$795$188
26 years$2,406$1,812$1,345$987$716$157
27 years$2,292$1,705$1,249$903$646$132
28 years$2,186$1,607$1,161$828$583$111
29 years$2,088$1,516$1,081$759$526$93
30 years$1,997$1,432$1,007$696$476$78
31 years$1,912$1,353$938$640$430$65
32 years$1,832$1,280$876$588$389$55
33 years$1,757$1,213$818$541$352$46
34 years$1,687$1,149$764$497$319$39
35 years$1,620$1,090$714$458$289$33
36 years$1,558$1,035$668$422$262$27
37 years$1,499$983$625$389$237$23
38 years$1,444$934$586$358$215$19
39 years$1,391$888$549$330$195$16
40 years$1,341$845$514$305$177$14
41 years$1,294$804$482$281$160$11
42 years$1,249$766$452$259$146$10
43 years$1,206$730$424$239$132$8
44 years$1,166$696$398$221$120$7
45 years$1,127$663$374$204$109$6
46 years$1,090$633$351$189$99$5
47 years$1,055$604$330$174$90$4
48 years$1,021$577$310$161$81$3
49 years$989$551$292$149$74$3
50 years$958$526$274$138$67$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $981,000, adding $2,190 every year, while hoping to spend $51,638 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: 35/37/28 Blend
62$981,000$981,000$981,000$981,000
63$1,083,321$1,031,328$1,016,122$1,112,029
64$1,138,877$1,026,921$995,220$1,129,313
65$1,198,370$1,020,567$971,887$1,143,151
66$1,262,145$1,012,116$945,987$1,157,087
67$1,330,584$1,001,410$917,378$1,171,166
68$1,404,104$988,280$885,911$1,185,441
69$1,483,165$972,547$851,430$1,199,974
70$1,568,268$954,022$813,774$1,214,839
71$1,659,967$932,505$772,771$1,230,122
72$1,758,869$907,784$728,244$1,245,924
73$1,865,642$879,633$680,008$1,262,362
74$1,981,017$847,814$627,868$1,279,568
75$2,105,800$812,077$571,621$1,297,699
76$2,240,877$772,154$511,055$1,316,930
77$2,387,220$727,764$445,950$1,337,464
78$2,545,901$678,608$376,073$1,359,532
79$2,718,095$624,372$301,184$1,383,394
80$2,905,098$564,723$221,031$1,409,348
81$3,108,331$499,308$135,349$1,437,731
82$3,329,363$427,756$43,865$1,468,923
83$3,569,915$349,673$0$1,503,353
84$3,831,884$264,645$0$1,557,568
85$4,117,355$172,231$0$1,631,078
86$4,428,625$71,970$0$1,711,470
87$4,768,220$0$0$1,799,527
88$5,138,922$0$0$1,911,035
89$5,543,793$0$0$2,064,955
90$5,986,202$0$0$2,233,284
91$6,469,861$0$0$2,417,450
92$6,998,855$0$0$2,619,027
93$7,577,681$0$0$2,839,746
94$8,211,294$0$0$3,081,517
95$8,905,147$0$0$3,346,441
96$9,665,246$0$0$3,636,830
97$10,498,206$0$0$3,955,235
98$11,411,313$0$0$4,304,461
99$12,412,588$0$0$4,687,601
100$13,510,868$0$0$5,108,060