Can I retire at age 63 with 972,000?

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 $972,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.1%
1 years$80,267$79,552$78,854$78,173$77,509$74,669
2 years$39,736$38,996$38,279$37,583$36,909$34,080
3 years$26,228$25,484$24,769$24,080$23,417$20,687
4 years$19,475$18,734$18,025$17,348$16,701$14,092
5 years$15,424$14,687$13,988$13,325$12,696$10,213
6 years$12,724$11,993$11,305$10,656$10,046$7,692
7 years$10,797$10,072$9,394$8,761$8,170$5,944
8 years$9,352$8,634$7,967$7,349$6,778$4,678
9 years$8,229$7,517$6,862$6,260$5,708$3,732
10 years$7,330$6,626$5,983$5,396$4,863$3,007
11 years$6,596$5,899$5,267$4,696$4,183$2,442
12 years$5,985$5,294$4,674$4,119$3,625$1,996
13 years$5,468$4,785$4,176$3,637$3,161$1,639
14 years$5,025$4,349$3,752$3,228$2,771$1,351
15 years$4,641$3,973$3,388$2,879$2,439$1,118
16 years$4,306$3,645$3,072$2,578$2,156$927
17 years$4,011$3,357$2,795$2,316$1,912$770
18 years$3,749$3,102$2,551$2,087$1,700$641
19 years$3,514$2,875$2,336$1,886$1,515$534
20 years$3,304$2,671$2,144$1,708$1,353$446
21 years$3,113$2,488$1,972$1,550$1,211$373
22 years$2,940$2,323$1,817$1,410$1,086$312
23 years$2,783$2,172$1,678$1,284$974$261
24 years$2,638$2,035$1,552$1,171$876$218
25 years$2,506$1,910$1,437$1,069$788$183
26 years$2,384$1,795$1,333$978$710$153
27 years$2,271$1,690$1,238$895$640$128
28 years$2,166$1,592$1,151$820$578$108
29 years$2,069$1,502$1,071$752$521$90
30 years$1,979$1,418$997$690$471$76
31 years$1,894$1,341$930$634$426$64
32 years$1,815$1,269$868$582$385$53
33 years$1,741$1,202$810$536$349$45
34 years$1,671$1,139$757$493$316$38
35 years$1,606$1,080$708$454$286$31
36 years$1,544$1,025$662$418$259$26
37 years$1,485$974$620$385$235$22
38 years$1,430$925$580$355$213$19
39 years$1,378$880$544$327$193$16
40 years$1,329$837$510$302$175$13
41 years$1,282$797$478$278$159$11
42 years$1,237$759$448$257$144$9
43 years$1,195$723$421$237$131$8
44 years$1,155$689$395$219$119$7
45 years$1,116$657$371$202$108$5
46 years$1,080$627$348$187$98$5
47 years$1,045$598$327$173$89$4
48 years$1,012$571$307$159$81$3
49 years$980$545$289$147$73$3
50 years$949$521$272$136$67$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $972,000, adding $6,811 every year, while hoping to spend $22,574 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: 36/36/28 Blend
62$972,000$972,000$972,000$972,000
63$1,078,170$1,026,654$1,011,588$1,107,722
64$1,164,124$1,052,941$1,021,457$1,156,584
65$1,258,090$1,079,760$1,030,901$1,206,771
66$1,360,859$1,107,113$1,039,880$1,260,520
67$1,473,307$1,135,001$1,048,356$1,318,165
68$1,596,393$1,163,425$1,056,285$1,380,078
69$1,731,177$1,192,385$1,063,623$1,446,664
70$1,878,827$1,221,881$1,070,323$1,518,374
71$2,040,625$1,251,911$1,076,337$1,595,701
72$2,217,986$1,282,472$1,081,612$1,679,191
73$2,412,469$1,313,562$1,086,094$1,769,446
74$2,625,789$1,345,174$1,089,726$1,867,127
75$2,859,835$1,377,304$1,092,448$1,972,965
76$3,116,690$1,409,944$1,094,197$2,087,764
77$3,398,647$1,443,085$1,094,907$2,212,413
78$3,708,231$1,476,718$1,094,508$2,347,890
79$4,048,225$1,510,831$1,092,929$2,495,272
80$4,421,693$1,545,412$1,090,091$2,655,748
81$4,832,012$1,580,443$1,085,916$2,830,631
82$5,282,902$1,615,910$1,080,319$3,021,363
83$5,778,461$1,651,792$1,073,212$3,229,539
84$6,323,202$1,688,068$1,064,503$3,456,916
85$6,922,101$1,724,716$1,054,096$3,705,428
86$7,580,636$1,761,707$1,041,889$3,977,212
87$8,304,845$1,799,015$1,027,776$4,274,620
88$9,101,379$1,836,606$1,011,646$4,600,248
89$9,977,566$1,874,447$993,383$4,956,956
90$10,941,482$1,912,500$972,866$5,347,898
91$12,002,024$1,950,722$949,967$5,776,552
92$13,168,992$1,989,069$924,553$6,246,750
93$14,453,188$2,027,492$896,484$6,762,719
94$15,866,512$2,065,938$865,615$7,329,117
95$17,422,077$2,104,350$831,794$7,951,082
96$19,134,331$2,142,665$794,861$8,634,275
97$21,019,193$2,180,816$754,650$9,384,939
98$23,094,206$2,218,732$710,986$10,209,955
99$25,378,699$2,256,333$663,687$11,116,910
100$27,893,969$2,293,537$612,564$12,114,166