Can I retire at age 63 with 949,000?

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 $949,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.3%
1 years$78,368$77,669$76,988$76,324$75,675$73,135
2 years$38,796$38,073$37,373$36,694$36,036$33,502
3 years$25,607$24,881$24,183$23,510$22,862$20,415
4 years$19,014$18,290$17,599$16,938$16,306$13,962
5 years$15,059$14,340$13,657$13,010$12,395$10,162
6 years$12,423$11,710$11,037$10,404$9,808$7,687
7 years$10,541$9,834$9,172$8,554$7,977$5,968
8 years$9,131$8,429$7,779$7,176$6,617$4,719
9 years$8,034$7,339$6,700$6,112$5,573$3,783
10 years$7,157$6,469$5,841$5,269$4,748$3,064
11 years$6,440$5,759$5,142$4,585$4,084$2,501
12 years$5,843$5,169$4,564$4,022$3,539$2,055
13 years$5,338$4,671$4,077$3,551$3,086$1,697
14 years$4,906$4,246$3,663$3,152$2,705$1,407
15 years$4,532$3,879$3,308$2,811$2,382$1,170
16 years$4,204$3,559$2,999$2,517$2,105$976
17 years$3,916$3,278$2,729$2,261$1,866$816
18 years$3,660$3,029$2,491$2,038$1,660$683
19 years$3,431$2,807$2,280$1,842$1,479$573
20 years$3,225$2,608$2,093$1,668$1,321$481
21 years$3,039$2,430$1,925$1,514$1,182$404
22 years$2,871$2,268$1,774$1,376$1,060$340
23 years$2,717$2,121$1,638$1,253$951$287
24 years$2,576$1,987$1,515$1,143$855$241
25 years$2,447$1,865$1,403$1,044$769$203
26 years$2,327$1,753$1,301$955$693$172
27 years$2,217$1,650$1,209$874$625$145
28 years$2,115$1,554$1,123$801$564$122
29 years$2,020$1,466$1,045$734$509$103
30 years$1,932$1,385$974$674$460$87
31 years$1,849$1,309$908$619$416$74
32 years$1,772$1,239$847$569$376$62
33 years$1,700$1,173$791$523$340$52
34 years$1,632$1,112$739$481$308$44
35 years$1,568$1,055$691$443$279$37
36 years$1,507$1,001$646$408$253$32
37 years$1,450$951$605$376$229$27
38 years$1,397$903$566$346$208$23
39 years$1,346$859$531$319$189$19
40 years$1,297$817$497$295$171$16
41 years$1,252$778$466$272$155$14
42 years$1,208$741$438$251$141$12
43 years$1,167$706$411$232$128$10
44 years$1,128$673$385$214$116$8
45 years$1,090$642$362$197$105$7
46 years$1,054$612$340$182$96$6
47 years$1,020$584$319$169$87$5
48 years$988$558$300$156$79$4
49 years$956$533$282$144$72$4
50 years$927$509$265$133$65$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $949,000, adding $4,500 every year, while hoping to spend $27,431 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: 81/5/14 Blend
62$949,000$949,000$949,000$949,000
63$1,050,440$1,000,143$985,433$1,132,267
64$1,128,398$1,019,963$989,259$1,206,484
65$1,213,389$1,039,836$992,293$1,283,912
66$1,306,101$1,059,734$994,481$1,368,114
67$1,407,291$1,079,628$995,764$1,459,755
68$1,517,793$1,099,489$996,081$1,559,569
69$1,638,526$1,119,282$995,367$1,668,366
70$1,770,500$1,138,971$993,556$1,787,036
71$1,914,828$1,158,517$990,578$1,916,559
72$2,072,735$1,177,879$986,356$2,058,018
73$2,245,570$1,197,012$980,816$2,212,602
74$2,434,819$1,215,866$973,874$2,381,623
75$2,642,118$1,234,391$965,446$2,566,527
76$2,869,268$1,252,530$955,443$2,768,905
77$3,118,254$1,270,225$943,770$2,990,514
78$3,391,260$1,287,410$930,331$3,233,285
79$3,690,694$1,304,018$915,022$3,499,349
80$4,019,206$1,319,976$897,737$3,791,053
81$4,379,716$1,335,206$878,362$4,110,982
82$4,775,440$1,349,625$856,780$4,461,987
83$5,209,922$1,363,143$832,869$4,847,208
84$5,687,063$1,375,666$806,500$5,270,104
85$6,211,163$1,387,094$777,537$5,734,488
86$6,786,959$1,397,318$745,841$6,244,563
87$7,419,666$1,406,224$711,264$6,804,958
88$8,115,033$1,413,690$673,653$7,420,775
89$8,879,393$1,419,587$632,847$8,097,636
90$9,719,720$1,423,777$588,677$8,841,737
91$10,643,702$1,426,112$540,968$9,659,906
92$11,659,807$1,426,438$489,537$10,559,668
93$12,777,363$1,424,590$434,192$11,549,312
94$14,006,649$1,420,390$374,733$12,637,978
95$15,358,992$1,413,654$310,951$13,835,733
96$16,846,869$1,404,183$242,628$15,153,675
97$18,484,030$1,391,767$169,536$16,604,033
98$20,285,622$1,376,185$91,437$18,200,283
99$22,268,337$1,357,201$8,082$19,957,275
100$24,450,568$1,334,563$0$21,891,376