Can I retire at age 63 with 962,000?

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 $962,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.1%
1 years$79,441$78,733$78,043$77,369$76,711$74,495
2 years$39,327$38,595$37,885$37,197$36,529$34,313
3 years$25,958$25,222$24,514$23,832$23,176$21,030
4 years$19,274$18,541$17,840$17,170$16,529$14,471
5 years$15,265$14,536$13,845$13,188$12,565$10,599
6 years$12,593$11,870$11,188$10,547$9,942$8,071
7 years$10,686$9,968$9,298$8,671$8,086$6,309
8 years$9,256$8,545$7,885$7,274$6,708$5,024
9 years$8,144$7,440$6,791$6,196$5,649$4,057
10 years$7,255$6,558$5,921$5,341$4,813$3,310
11 years$6,528$5,838$5,213$4,648$4,140$2,724
12 years$5,923$5,240$4,626$4,077$3,587$2,255
13 years$5,411$4,735$4,133$3,599$3,128$1,878
14 years$4,973$4,304$3,714$3,195$2,742$1,570
15 years$4,594$3,932$3,353$2,849$2,414$1,317
16 years$4,262$3,608$3,040$2,551$2,134$1,108
17 years$3,970$3,322$2,766$2,292$1,892$934
18 years$3,710$3,070$2,525$2,066$1,682$789
19 years$3,478$2,845$2,312$1,867$1,499$668
20 years$3,270$2,644$2,122$1,691$1,339$566
21 years$3,081$2,463$1,951$1,534$1,199$480
22 years$2,910$2,299$1,799$1,395$1,074$408
23 years$2,754$2,150$1,661$1,271$964$347
24 years$2,611$2,015$1,536$1,159$867$295
25 years$2,480$1,891$1,422$1,058$780$251
26 years$2,359$1,777$1,319$968$703$214
27 years$2,248$1,672$1,225$886$633$182
28 years$2,144$1,576$1,139$812$572$155
29 years$2,048$1,486$1,060$744$516$132
30 years$1,958$1,404$987$683$466$113
31 years$1,875$1,327$920$627$422$96
32 years$1,796$1,256$859$576$381$82
33 years$1,723$1,189$802$530$345$70
34 years$1,654$1,127$749$488$312$60
35 years$1,589$1,069$700$449$283$51
36 years$1,528$1,015$655$414$256$44
37 years$1,470$964$613$381$232$37
38 years$1,416$916$574$351$211$32
39 years$1,364$871$538$324$191$27
40 years$1,315$829$504$299$173$23
41 years$1,269$789$473$276$157$20
42 years$1,225$751$444$254$143$17
43 years$1,183$716$416$235$129$14
44 years$1,143$682$391$217$118$12
45 years$1,105$651$367$200$107$10
46 years$1,069$621$345$185$97$9
47 years$1,034$592$324$171$88$8
48 years$1,001$565$304$158$80$7
49 years$969$540$286$146$73$6
50 years$939$516$269$135$66$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $962,000, adding $6,578 every year, while hoping to spend $53,541 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: 79/5/16 Blend
62$962,000$962,000$962,000$962,000
63$1,066,909$1,015,923$1,001,012$1,147,043
64$1,118,767$1,008,736$977,579$1,193,572
65$1,174,119$999,403$951,566$1,237,128
66$1,233,267$987,761$922,831$1,283,422
67$1,296,538$973,639$891,224$1,332,707
68$1,364,293$956,856$856,588$1,385,260
69$1,436,929$937,219$818,761$1,441,389
70$1,514,877$914,524$777,571$1,501,433
71$1,598,614$888,556$732,840$1,565,765
72$1,688,664$859,086$684,381$1,634,798
73$1,785,598$825,872$631,998$1,708,987
74$1,890,048$788,658$575,489$1,788,832
75$2,002,704$747,174$514,639$1,874,887
76$2,124,328$701,133$449,227$1,967,762
77$2,255,753$650,233$379,021$2,068,129
78$2,397,898$594,153$303,776$2,176,731
79$2,551,772$532,554$223,241$2,294,387
80$2,718,484$465,080$137,150$2,422,001
81$2,899,253$391,353$45,228$2,560,568
82$3,095,420$310,972$0$2,711,187
83$3,308,460$223,517$0$2,884,098
84$3,539,995$128,542$0$3,080,437
85$3,791,810$25,576$0$3,294,005
86$4,065,868$0$0$3,526,484
87$4,364,330$0$0$3,784,453
88$4,689,573$0$0$4,067,129
89$5,044,214$0$0$4,375,383
90$5,431,131$0$0$4,711,721
91$5,853,495$0$0$5,078,902
92$6,314,794$0$0$5,479,963
93$6,818,869$0$0$5,918,248
94$7,369,949$0$0$6,397,436
95$7,972,689$0$0$6,921,580
96$8,632,215$0$0$7,495,143
97$9,354,171$0$0$8,123,038
98$10,144,774$0$0$8,810,674
99$11,010,867$0$0$9,564,011
100$11,959,988$0$0$10,389,609