Can I retire at age 63 with 957,000?

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 $957,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.7%
1 years$79,028$78,324$77,637$76,967$76,313$73,929
2 years$39,123$38,394$37,688$37,003$36,339$33,959
3 years$25,823$25,091$24,387$23,708$23,055$20,753
4 years$19,174$18,445$17,747$17,081$16,443$14,237
5 years$15,186$14,461$13,773$13,120$12,500$10,395
6 years$12,528$11,808$11,130$10,492$9,891$7,889
7 years$10,630$9,917$9,249$8,626$8,044$6,146
8 years$9,208$8,500$7,844$7,236$6,673$4,877
9 years$8,102$7,401$6,756$6,164$5,620$3,924
10 years$7,217$6,524$5,890$5,313$4,788$3,190
11 years$6,494$5,808$5,186$4,624$4,118$2,614
12 years$5,892$5,213$4,602$4,056$3,569$2,156
13 years$5,383$4,711$4,112$3,581$3,112$1,788
14 years$4,947$4,282$3,694$3,178$2,728$1,488
15 years$4,570$3,912$3,336$2,835$2,402$1,243
16 years$4,240$3,589$3,024$2,538$2,123$1,041
17 years$3,949$3,305$2,752$2,280$1,882$874
18 years$3,691$3,054$2,512$2,055$1,674$735
19 years$3,460$2,831$2,300$1,857$1,492$620
20 years$3,253$2,630$2,111$1,682$1,332$523
21 years$3,065$2,450$1,941$1,526$1,192$441
22 years$2,895$2,287$1,789$1,388$1,069$373
23 years$2,740$2,139$1,652$1,264$959$316
24 years$2,598$2,004$1,528$1,153$862$267
25 years$2,467$1,881$1,415$1,053$776$226
26 years$2,347$1,768$1,312$963$699$192
27 years$2,236$1,663$1,219$881$630$163
28 years$2,133$1,568$1,133$807$569$138
29 years$2,037$1,479$1,054$740$513$117
30 years$1,948$1,397$982$679$464$99
31 years$1,865$1,320$916$624$419$84
32 years$1,787$1,249$854$573$379$72
33 years$1,714$1,183$798$527$343$61
34 years$1,645$1,121$745$485$311$52
35 years$1,581$1,063$697$447$282$44
36 years$1,520$1,009$652$411$255$37
37 years$1,463$959$610$379$231$32
38 years$1,408$911$571$349$210$27
39 years$1,357$866$535$322$190$23
40 years$1,308$824$502$297$172$19
41 years$1,262$785$470$274$156$16
42 years$1,218$747$441$253$142$14
43 years$1,177$712$414$234$129$12
44 years$1,137$679$389$216$117$10
45 years$1,099$647$365$199$106$9
46 years$1,063$617$343$184$96$7
47 years$1,029$589$322$170$88$6
48 years$996$562$303$157$79$5
49 years$964$537$284$145$72$4
50 years$934$513$267$134$66$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $957,000, adding $2,205 every year, while hoping to spend $58,395 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: 80/13/7 Blend
62$957,000$957,000$957,000$957,000
63$1,056,888$1,006,167$991,334$1,140,477
64$1,102,559$993,338$962,412$1,182,715
65$1,150,931$977,922$930,564$1,221,130
66$1,202,219$959,733$895,630$1,261,519
67$1,256,655$938,570$857,443$1,304,050
68$1,314,495$914,221$815,829$1,348,905
69$1,376,020$886,464$770,606$1,396,288
70$1,441,535$855,062$721,582$1,446,424
71$1,511,375$819,763$668,558$1,499,558
72$1,585,906$780,303$611,326$1,555,963
73$1,665,532$736,401$549,669$1,615,940
74$1,750,692$687,761$483,359$1,679,821
75$1,841,870$634,068$412,159$1,747,971
76$1,939,595$574,992$335,820$1,820,795
77$2,044,449$510,181$254,085$1,898,739
78$2,157,068$439,266$166,683$1,982,295
79$2,278,154$361,854$73,331$2,072,007
80$2,408,473$277,533$0$2,168,474
81$2,548,871$185,866$0$2,274,323
82$2,700,273$86,390$0$2,394,293
83$2,863,698$0$0$2,523,733
84$3,040,264$0$0$2,666,618
85$3,231,200$0$0$2,834,517
86$3,437,859$0$0$3,016,262
87$3,661,724$0$0$3,213,163
88$3,904,430$0$0$3,426,660
89$4,167,771$0$0$3,658,334
90$4,453,724$0$0$3,909,926
91$4,764,460$0$0$4,183,353
92$5,102,370$0$0$4,480,719
93$5,470,083$0$0$4,804,342
94$5,870,491$0$0$5,156,772
95$6,306,779$0$0$5,540,816
96$6,782,449$0$0$5,959,560
97$7,301,357$0$0$6,416,405
98$7,867,747$0$0$6,915,090
99$8,486,292$0$0$7,459,733
100$9,162,133$0$0$8,054,868