Can I retire at age 63 with 947,000?

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 $947,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$78,202$77,506$76,826$76,163$75,515$75,008
2 years$38,714$37,993$37,294$36,617$35,960$35,448
3 years$25,553$24,829$24,132$23,461$22,814$22,314
4 years$18,974$18,252$17,562$16,902$16,271$15,787
5 years$15,027$14,310$13,629$12,982$12,369$11,901
6 years$12,397$11,685$11,014$10,382$9,787$9,337
7 years$10,519$9,813$9,153$8,536$7,960$7,527
8 years$9,111$8,412$7,762$7,160$6,603$6,188
9 years$8,017$7,324$6,686$6,099$5,561$5,163
10 years$7,142$6,456$5,829$5,257$4,738$4,358
11 years$6,427$5,747$5,131$4,576$4,075$3,712
12 years$5,831$5,158$4,554$4,013$3,531$3,185
13 years$5,327$4,661$4,069$3,543$3,079$2,749
14 years$4,896$4,237$3,656$3,145$2,699$2,385
15 years$4,522$3,871$3,301$2,805$2,377$2,078
16 years$4,196$3,551$2,993$2,512$2,101$1,817
17 years$3,908$3,271$2,723$2,257$1,863$1,593
18 years$3,652$3,022$2,486$2,034$1,656$1,401
19 years$3,424$2,801$2,276$1,838$1,476$1,235
20 years$3,219$2,603$2,088$1,664$1,318$1,090
21 years$3,033$2,424$1,921$1,510$1,180$964
22 years$2,865$2,263$1,771$1,373$1,058$854
23 years$2,711$2,117$1,635$1,251$949$758
24 years$2,571$1,983$1,512$1,141$853$673
25 years$2,442$1,861$1,400$1,042$768$598
26 years$2,323$1,749$1,299$953$692$532
27 years$2,213$1,646$1,206$872$624$474
28 years$2,111$1,551$1,121$799$563$422
29 years$2,016$1,463$1,043$733$508$376
30 years$1,928$1,382$972$672$459$336
31 years$1,845$1,306$906$617$415$300
32 years$1,768$1,236$845$567$375$268
33 years$1,696$1,171$789$522$340$239
34 years$1,628$1,109$737$480$308$214
35 years$1,564$1,052$689$442$279$191
36 years$1,504$999$645$407$252$171
37 years$1,447$949$604$375$229$153
38 years$1,394$902$565$346$207$136
39 years$1,343$857$530$319$188$122
40 years$1,295$816$496$294$171$109
41 years$1,249$776$465$271$155$98
42 years$1,206$739$437$250$140$88
43 years$1,164$705$410$231$127$78
44 years$1,125$672$385$213$116$70
45 years$1,088$640$361$197$105$63
46 years$1,052$611$339$182$95$56
47 years$1,018$583$319$168$87$50
48 years$985$557$299$155$79$45
49 years$954$531$281$144$71$40
50 years$925$508$265$133$65$36

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $947,000, adding $4,887 every year, while hoping to spend $44,946 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: 64/22/14 Blend
62$947,000$947,000$947,000$947,000
63$1,048,635$998,444$983,765$1,111,936
64$1,107,774$999,545$968,899$1,156,017
65$1,171,438$999,195$952,029$1,198,518
66$1,240,042$997,273$933,039$1,243,838
67$1,314,041$993,654$911,811$1,292,250
68$1,393,935$988,204$888,218$1,344,060
69$1,480,272$980,782$862,130$1,399,602
70$1,573,657$971,238$833,408$1,459,248
71$1,674,753$959,411$801,910$1,523,409
72$1,784,288$945,133$767,485$1,592,537
73$1,903,066$928,225$729,976$1,667,135
74$2,031,967$908,497$689,219$1,747,758
75$2,171,963$885,748$645,042$1,835,018
76$2,324,119$859,765$597,267$1,929,592
77$2,489,609$830,324$545,706$2,032,231
78$2,669,725$797,186$490,162$2,143,761
79$2,865,887$760,098$430,433$2,265,097
80$3,079,660$718,795$366,304$2,397,249
81$3,312,762$672,993$297,553$2,541,334
82$3,567,089$622,395$223,946$2,698,584
83$3,844,725$566,684$145,241$2,870,363
84$4,147,964$505,529$61,183$3,058,175
85$4,479,332$438,576$0$3,263,682
86$4,841,610$365,453$0$3,492,980
87$5,237,861$285,766$0$3,753,867
88$5,671,455$199,101$0$4,039,475
89$6,146,104$105,018$0$4,352,321
90$6,665,897$3,054$0$4,695,180
91$7,235,334$0$0$5,071,114
92$7,859,374$0$0$5,509,472
93$8,543,477$0$0$5,990,898
94$9,293,654$0$0$6,518,892
95$10,116,530$0$0$7,098,124
96$11,019,400$0$0$7,733,739
97$12,010,299$0$0$8,431,402
98$13,098,077$0$0$9,197,354
99$14,292,484$0$0$10,038,472
100$15,604,260$0$0$10,962,327