Can I retire at age 63 with 955,000?

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 $955,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$78,863$78,161$77,475$76,806$76,153$75,326
2 years$39,041$38,314$37,609$36,926$36,263$35,431
3 years$25,769$25,039$24,336$23,659$23,007$22,195
4 years$19,134$18,406$17,710$17,045$16,409$15,623
5 years$15,154$14,431$13,744$13,092$12,474$11,717
6 years$12,502$11,784$11,107$10,470$9,870$9,143
7 years$10,608$9,896$9,230$8,608$8,027$7,329
8 years$9,188$8,483$7,828$7,221$6,659$5,992
9 years$8,085$7,386$6,742$6,151$5,608$4,970
10 years$7,202$6,510$5,878$5,302$4,778$4,170
11 years$6,481$5,796$5,175$4,614$4,109$3,529
12 years$5,880$5,202$4,592$4,047$3,561$3,009
13 years$5,372$4,701$4,103$3,573$3,105$2,581
14 years$4,937$4,273$3,687$3,172$2,722$2,224
15 years$4,560$3,903$3,329$2,829$2,397$1,925
16 years$4,231$3,581$3,018$2,533$2,118$1,672
17 years$3,941$3,298$2,746$2,276$1,878$1,456
18 years$3,683$3,048$2,507$2,051$1,670$1,271
19 years$3,453$2,825$2,295$1,853$1,489$1,112
20 years$3,246$2,625$2,106$1,678$1,330$975
21 years$3,059$2,445$1,937$1,523$1,190$856
22 years$2,889$2,282$1,785$1,385$1,067$753
23 years$2,734$2,134$1,649$1,261$957$663
24 years$2,592$2,000$1,525$1,150$861$584
25 years$2,462$1,877$1,412$1,051$774$515
26 years$2,342$1,764$1,310$961$697$455
27 years$2,231$1,660$1,216$879$629$402
28 years$2,128$1,564$1,131$806$567$355
29 years$2,033$1,476$1,052$739$512$314
30 years$1,944$1,394$980$678$463$278
31 years$1,861$1,317$914$623$419$246
32 years$1,783$1,247$852$572$379$218
33 years$1,710$1,181$796$526$343$193
34 years$1,642$1,119$744$484$310$171
35 years$1,577$1,061$695$446$281$151
36 years$1,517$1,007$650$411$255$134
37 years$1,460$957$609$378$231$119
38 years$1,405$909$570$349$209$106
39 years$1,354$865$534$321$190$94
40 years$1,306$823$501$296$172$83
41 years$1,260$783$469$274$156$74
42 years$1,216$746$440$252$142$65
43 years$1,174$710$413$233$129$58
44 years$1,135$677$388$215$117$52
45 years$1,097$646$364$199$106$46
46 years$1,061$616$342$184$96$41
47 years$1,027$588$321$170$87$36
48 years$994$561$302$157$79$32
49 years$962$536$284$145$72$28
50 years$932$512$267$134$65$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $955,000, adding $3,123 every year, while hoping to spend $22,359 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: 84/11/5 Blend
62$955,000$955,000$955,000$955,000
63$1,055,631$1,005,016$990,214$1,144,016
64$1,139,516$1,030,472$999,596$1,227,594
65$1,231,207$1,056,426$1,008,544$1,315,997
66$1,331,478$1,082,879$1,017,018$1,412,378
67$1,441,180$1,109,831$1,024,978$1,517,522
68$1,561,248$1,137,280$1,032,383$1,632,293
69$1,692,715$1,165,227$1,039,188$1,757,645
70$1,836,717$1,193,668$1,045,345$1,894,625
71$1,994,504$1,222,599$1,050,806$2,044,390
72$2,167,454$1,252,017$1,055,519$2,208,211
73$2,357,085$1,281,917$1,059,429$2,387,489
74$2,565,067$1,312,291$1,062,480$2,583,769
75$2,793,242$1,343,131$1,064,611$2,798,749
76$3,043,637$1,374,428$1,065,759$3,034,303
77$3,318,484$1,406,172$1,065,859$3,292,493
78$3,620,245$1,438,349$1,064,840$3,575,591
79$3,951,628$1,470,947$1,062,631$3,886,100
80$4,315,619$1,503,948$1,059,154$4,226,779
81$4,715,507$1,537,336$1,054,330$4,600,664
82$5,154,913$1,571,090$1,048,074$5,011,103
83$5,637,829$1,605,188$1,040,300$5,461,783
84$6,168,651$1,639,606$1,030,914$5,956,766
85$6,752,224$1,674,318$1,019,820$6,500,530
86$7,393,885$1,709,293$1,006,917$7,098,004
87$8,099,511$1,744,499$992,100$7,754,623
88$8,875,583$1,779,900$975,256$8,476,373
89$9,729,236$1,815,459$956,271$9,269,852
90$10,668,335$1,851,134$935,023$10,142,326
91$11,701,544$1,886,877$911,385$11,101,805
92$12,838,408$1,922,641$885,223$12,157,113
93$14,089,447$1,958,372$856,399$13,317,974
94$15,466,250$1,994,011$824,768$14,595,101
95$16,981,586$2,029,497$790,177$16,000,301
96$18,649,527$2,064,761$752,467$17,546,583
97$20,485,576$2,099,732$711,472$19,248,281
98$22,506,817$2,134,331$667,018$21,121,192
99$24,732,073$2,168,474$618,924$23,182,721
100$27,182,086$2,202,071$567,000$25,452,049