Can I retire at age 63 with 961,000?

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 $961,000?

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$79,358$78,652$77,962$77,289$76,631$75,800
2 years$39,286$38,555$37,846$37,158$36,491$35,654
3 years$25,931$25,196$24,489$23,808$23,152$22,334
4 years$19,254$18,522$17,821$17,152$16,512$15,721
5 years$15,249$14,521$13,830$13,174$12,552$11,790
6 years$12,580$11,858$11,177$10,536$9,932$9,200
7 years$10,675$9,958$9,288$8,662$8,077$7,376
8 years$9,246$8,536$7,877$7,266$6,701$6,029
9 years$8,135$7,432$6,784$6,189$5,643$5,001
10 years$7,248$6,551$5,915$5,335$4,808$4,196
11 years$6,522$5,832$5,207$4,643$4,135$3,552
12 years$5,917$5,234$4,621$4,073$3,584$3,028
13 years$5,406$4,730$4,129$3,596$3,125$2,597
14 years$4,968$4,300$3,710$3,192$2,739$2,238
15 years$4,589$3,928$3,349$2,847$2,412$1,937
16 years$4,258$3,604$3,037$2,549$2,132$1,682
17 years$3,966$3,319$2,763$2,290$1,890$1,465
18 years$3,706$3,067$2,523$2,064$1,681$1,279
19 years$3,474$2,842$2,309$1,865$1,498$1,119
20 years$3,266$2,641$2,119$1,689$1,338$981
21 years$3,078$2,460$1,949$1,533$1,197$861
22 years$2,907$2,297$1,797$1,394$1,073$757
23 years$2,751$2,148$1,659$1,269$963$667
24 years$2,609$2,012$1,534$1,158$866$588
25 years$2,478$1,889$1,421$1,057$779$518
26 years$2,357$1,775$1,318$967$702$457
27 years$2,245$1,670$1,224$885$633$404
28 years$2,142$1,574$1,138$811$571$357
29 years$2,046$1,485$1,059$743$516$316
30 years$1,956$1,402$986$682$466$280
31 years$1,873$1,326$919$627$421$247
32 years$1,794$1,254$858$576$381$219
33 years$1,721$1,188$801$530$345$194
34 years$1,652$1,126$748$487$312$172
35 years$1,587$1,068$700$449$283$152
36 years$1,526$1,014$654$413$256$135
37 years$1,469$963$613$381$232$120
38 years$1,414$915$574$351$211$106
39 years$1,363$870$537$323$191$94
40 years$1,314$828$504$298$173$84
41 years$1,268$788$472$275$157$74
42 years$1,223$750$443$254$143$66
43 years$1,182$715$416$235$129$58
44 years$1,142$681$390$217$117$52
45 years$1,104$650$366$200$107$46
46 years$1,068$620$344$185$97$41
47 years$1,033$592$323$171$88$36
48 years$1,000$565$304$158$80$32
49 years$968$539$286$146$72$29
50 years$938$515$269$135$66$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $961,000, adding $3,157 every year, while hoping to spend $49,645 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: 68/22/10 Blend
62$961,000$961,000$961,000$961,000
63$1,062,278$1,011,345$996,450$1,132,138
64$1,117,809$1,008,079$977,009$1,175,670
65$1,177,340$1,002,990$955,253$1,216,996
66$1,241,226$995,934$931,052$1,260,883
67$1,309,859$986,762$904,270$1,307,577
68$1,383,666$975,315$874,764$1,357,347
69$1,463,118$961,423$842,387$1,410,490
70$1,548,730$944,908$806,981$1,467,336
71$1,641,071$925,579$768,386$1,528,250
72$1,740,764$903,235$726,430$1,593,636
73$1,848,493$877,665$680,936$1,663,939
74$1,965,010$848,642$631,719$1,739,651
75$2,091,143$815,927$578,584$1,821,319
76$2,227,802$779,270$521,328$1,909,543
77$2,375,985$738,402$459,740$2,004,991
78$2,536,794$693,041$393,599$2,108,398
79$2,711,436$642,889$322,674$2,220,578
80$2,901,242$587,630$246,723$2,342,430
81$3,107,675$526,931$165,495$2,474,948
82$3,332,345$460,438$78,727$2,619,230
83$3,577,024$387,779$0$2,776,488
84$3,843,661$308,560$0$2,949,545
85$4,134,401$222,366$0$3,147,460
86$4,451,605$128,757$0$3,363,494
87$4,797,872$27,269$0$3,599,485
88$5,176,062$0$0$3,857,466
89$5,589,325$0$0$4,159,670
90$6,041,128$0$0$4,497,327
91$6,535,289$0$0$4,866,697
92$7,076,009$0$0$5,270,928
93$7,667,918$0$0$5,713,487
94$8,316,112$0$0$6,198,193
95$9,026,203$0$0$6,729,248
96$9,804,370$0$0$7,311,286
97$10,657,423$0$0$7,949,404
98$11,592,856$0$0$8,649,219
99$12,618,927$0$0$9,416,919
100$13,744,731$0$0$10,259,316