Can I retire at age 63 with 916,000?

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 $916,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$75,642$74,969$74,311$73,670$73,043$71,568
2 years$37,447$36,749$36,073$35,418$34,782$33,303
3 years$24,717$24,016$23,342$22,693$22,067$20,630
4 years$18,353$17,654$16,987$16,349$15,739$14,354
5 years$14,535$13,841$13,183$12,557$11,964$10,636
6 years$11,991$11,302$10,653$10,042$9,467$8,196
7 years$10,175$9,492$8,853$8,256$7,699$6,487
8 years$8,813$8,136$7,508$6,926$6,387$5,233
9 years$7,755$7,084$6,467$5,899$5,379$4,282
10 years$6,908$6,244$5,638$5,085$4,583$3,542
11 years$6,216$5,559$4,963$4,426$3,942$2,955
12 years$5,640$4,989$4,405$3,882$3,416$2,483
13 years$5,153$4,509$3,936$3,427$2,979$2,098
14 years$4,735$4,098$3,536$3,042$2,611$1,780
15 years$4,374$3,744$3,193$2,713$2,299$1,517
16 years$4,058$3,435$2,895$2,429$2,032$1,296
17 years$3,780$3,164$2,634$2,183$1,802$1,110
18 years$3,533$2,923$2,404$1,967$1,602$954
19 years$3,312$2,709$2,201$1,777$1,428$820
20 years$3,113$2,518$2,020$1,610$1,275$707
21 years$2,934$2,345$1,858$1,461$1,141$610
22 years$2,771$2,189$1,713$1,328$1,023$527
23 years$2,622$2,047$1,581$1,210$918$456
24 years$2,486$1,918$1,462$1,103$825$394
25 years$2,362$1,800$1,354$1,008$743$342
26 years$2,247$1,692$1,256$921$669$296
27 years$2,140$1,592$1,166$843$603$257
28 years$2,042$1,500$1,084$773$544$223
29 years$1,950$1,415$1,009$709$491$193
30 years$1,865$1,337$940$650$444$168
31 years$1,785$1,264$876$597$401$146
32 years$1,710$1,196$818$549$363$127
33 years$1,640$1,132$763$505$329$110
34 years$1,575$1,073$713$464$298$96
35 years$1,513$1,018$667$428$270$83
36 years$1,455$966$624$394$244$72
37 years$1,400$918$584$363$221$63
38 years$1,348$872$547$334$201$55
39 years$1,299$829$512$308$182$48
40 years$1,252$789$480$284$165$41
41 years$1,208$751$450$262$150$36
42 years$1,166$715$422$242$136$31
43 years$1,126$681$396$224$123$27
44 years$1,088$650$372$206$112$24
45 years$1,052$619$349$191$102$21
46 years$1,018$591$328$176$92$18
47 years$985$564$308$163$84$16
48 years$953$538$290$150$76$14
49 years$923$514$272$139$69$12
50 years$894$491$256$128$63$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $916,000, adding $6,936 every year, while hoping to spend $32,493 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: 53/40/7 Blend
62$916,000$916,000$916,000$916,000
63$1,016,586$968,038$953,840$1,068,398
64$1,085,706$980,900$951,222$1,117,147
65$1,160,787$993,303$947,426$1,166,011
66$1,242,402$1,005,190$942,381$1,218,388
67$1,331,184$1,016,501$936,007$1,274,614
68$1,427,826$1,027,171$928,225$1,335,064
69$1,533,093$1,037,131$918,949$1,400,148
70$1,647,825$1,046,307$908,090$1,470,320
71$1,772,948$1,054,621$895,556$1,546,081
72$1,909,481$1,061,990$881,250$1,627,984
73$2,058,545$1,068,323$865,068$1,716,639
74$2,221,373$1,073,528$846,904$1,812,720
75$2,399,324$1,077,502$826,647$1,916,969
76$2,593,895$1,080,140$804,179$2,030,208
77$2,806,732$1,081,326$779,379$2,153,341
78$3,039,649$1,080,941$752,118$2,287,369
79$3,294,642$1,078,856$722,263$2,433,393
80$3,573,910$1,074,935$689,674$2,592,631
81$3,879,875$1,069,033$654,204$2,766,426
82$4,215,203$1,060,996$615,700$2,956,261
83$4,582,832$1,050,663$574,004$3,163,770
84$4,985,995$1,037,860$528,948$3,390,759
85$5,428,256$1,022,404$480,357$3,639,219
86$5,913,539$1,004,103$428,050$3,911,349
87$6,446,166$982,750$371,836$4,209,573
88$7,030,899$958,129$311,516$4,536,565
89$7,672,982$930,008$246,883$4,895,279
90$8,378,192$898,145$177,720$5,288,971
91$9,152,895$862,282$103,801$5,721,234
92$10,004,102$822,145$24,890$6,196,031
93$10,939,537$777,446$0$6,717,734
94$11,967,709$727,881$0$7,295,599
95$13,097,993$673,125$0$7,932,788
96$14,340,718$612,837$0$8,633,328
97$15,707,263$546,658$0$9,403,714
98$17,210,165$474,205$0$10,251,108
99$18,863,236$395,076$0$11,183,411
100$20,681,697$308,846$0$12,209,330