Can I retire at age 63 with 959,000?

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 $959,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$79,193$78,488$77,800$77,128$76,472$75,454
2 years$39,205$38,474$37,767$37,081$36,415$35,391
3 years$25,877$25,143$24,438$23,758$23,103$22,105
4 years$19,214$18,483$17,784$17,116$16,477$15,513
5 years$15,218$14,491$13,801$13,147$12,526$11,598
6 years$12,554$11,833$11,154$10,514$9,911$9,020
7 years$10,652$9,937$9,269$8,644$8,061$7,207
8 years$9,227$8,518$7,861$7,251$6,687$5,871
9 years$8,119$7,417$6,770$6,176$5,631$4,853
10 years$7,232$6,537$5,903$5,324$4,798$4,057
11 years$6,508$5,820$5,196$4,634$4,127$3,421
12 years$5,905$5,224$4,612$4,064$3,576$2,906
13 years$5,395$4,721$4,120$3,588$3,118$2,483
14 years$4,958$4,291$3,702$3,185$2,734$2,131
15 years$4,579$3,920$3,342$2,841$2,407$1,837
16 years$4,249$3,596$3,030$2,543$2,127$1,588
17 years$3,957$3,312$2,758$2,285$1,886$1,378
18 years$3,698$3,061$2,517$2,059$1,677$1,198
19 years$3,467$2,836$2,304$1,861$1,495$1,043
20 years$3,259$2,636$2,115$1,685$1,335$911
21 years$3,071$2,455$1,945$1,530$1,195$796
22 years$2,901$2,292$1,793$1,391$1,071$697
23 years$2,745$2,143$1,655$1,267$961$610
24 years$2,603$2,008$1,531$1,155$864$535
25 years$2,472$1,885$1,418$1,055$778$470
26 years$2,352$1,771$1,315$965$700$413
27 years$2,241$1,667$1,221$883$631$363
28 years$2,137$1,571$1,135$809$570$319
29 years$2,041$1,482$1,056$742$515$281
30 years$1,952$1,399$984$681$465$247
31 years$1,869$1,323$917$625$420$218
32 years$1,791$1,252$856$575$380$192
33 years$1,717$1,185$799$528$344$169
34 years$1,649$1,124$747$486$312$149
35 years$1,584$1,066$698$448$282$132
36 years$1,523$1,011$653$412$256$116
37 years$1,466$961$611$380$232$102
38 years$1,411$913$572$350$210$90
39 years$1,360$868$536$323$190$80
40 years$1,311$826$503$298$173$70
41 years$1,265$786$471$275$157$62
42 years$1,221$749$442$254$142$55
43 years$1,179$713$415$234$129$48
44 years$1,139$680$389$216$117$43
45 years$1,102$649$366$200$106$38
46 years$1,065$619$343$184$97$33
47 years$1,031$590$323$170$88$29
48 years$998$564$303$157$80$26
49 years$966$538$285$145$72$23
50 years$936$514$268$134$66$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $959,000, adding $5,050 every year, while hoping to spend $56,667 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: 40/35/25 Blend
62$959,000$959,000$959,000$959,000
63$1,062,027$1,011,200$996,336$1,096,486
64$1,110,061$1,000,456$969,420$1,111,105
65$1,161,094$987,285$939,703$1,121,213
66$1,215,374$971,511$907,031$1,131,036
67$1,273,170$952,943$871,244$1,140,583
68$1,334,777$931,380$832,174$1,149,866
69$1,400,517$906,611$789,645$1,158,904
70$1,470,745$878,410$743,474$1,167,725
71$1,545,849$846,540$693,468$1,176,361
72$1,626,254$810,748$639,427$1,184,856
73$1,712,425$770,769$581,142$1,193,264
74$1,804,876$726,320$518,393$1,201,650
75$1,904,166$677,103$450,952$1,210,094
76$2,010,913$622,802$378,581$1,218,690
77$2,125,793$563,086$301,030$1,227,550
78$2,249,547$497,601$218,038$1,236,804
79$2,382,993$425,976$129,335$1,246,605
80$2,527,026$347,816$34,635$1,257,131
81$2,682,631$262,708$0$1,268,587
82$2,850,890$170,211$0$1,298,929
83$3,032,993$69,863$0$1,341,720
84$3,230,246$0$0$1,388,106
85$3,444,087$0$0$1,453,485
86$3,676,097$0$0$1,553,718
87$3,928,015$0$0$1,662,663
88$4,201,752$0$0$1,781,159
89$4,499,413$0$0$1,910,132
90$4,823,311$0$0$2,050,600
91$5,175,993$0$0$2,203,683
92$5,560,261$0$0$2,370,615
93$5,979,197$0$0$2,552,751
94$6,436,197$0$0$2,751,586
95$6,934,996$0$0$2,968,764
96$7,479,704$0$0$3,206,093
97$8,074,849$0$0$3,465,568
98$8,725,413$0$0$3,749,381
99$9,436,883$0$0$4,059,948
100$10,215,300$0$0$4,399,930