Can I retire at age 63 with 975,000?

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 $975,000?

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$80,515$79,797$79,098$78,415$77,748$75,319
2 years$39,859$39,116$38,397$37,699$37,023$34,598
3 years$26,309$25,563$24,845$24,154$23,489$21,143
4 years$19,535$18,791$18,081$17,402$16,752$14,504
5 years$15,472$14,733$14,032$13,366$12,735$10,590
6 years$12,764$12,030$11,340$10,689$10,077$8,038
7 years$10,830$10,103$9,423$8,788$8,195$6,261
8 years$9,381$8,660$7,992$7,372$6,799$4,969
9 years$8,254$7,540$6,883$6,279$5,725$3,997
10 years$7,353$6,646$6,001$5,413$4,878$3,250
11 years$6,617$5,917$5,283$4,711$4,196$2,663
12 years$6,003$5,311$4,689$4,132$3,636$2,197
13 years$5,485$4,799$4,189$3,648$3,170$1,821
14 years$5,040$4,362$3,764$3,238$2,779$1,516
15 years$4,656$3,985$3,398$2,888$2,447$1,267
16 years$4,320$3,656$3,081$2,586$2,163$1,061
17 years$4,023$3,367$2,804$2,323$1,918$891
18 years$3,760$3,112$2,559$2,094$1,705$749
19 years$3,525$2,884$2,343$1,892$1,520$631
20 years$3,314$2,680$2,150$1,714$1,357$533
21 years$3,123$2,496$1,978$1,555$1,215$450
22 years$2,949$2,330$1,823$1,414$1,089$380
23 years$2,791$2,179$1,683$1,288$977$322
24 years$2,647$2,042$1,557$1,174$879$272
25 years$2,514$1,916$1,442$1,073$791$231
26 years$2,391$1,801$1,337$981$712$195
27 years$2,278$1,695$1,242$898$642$166
28 years$2,173$1,597$1,154$822$579$141
29 years$2,076$1,507$1,074$754$523$119
30 years$1,985$1,423$1,000$692$473$101
31 years$1,900$1,345$933$636$427$86
32 years$1,820$1,273$870$584$387$73
33 years$1,746$1,205$813$537$350$62
34 years$1,676$1,142$759$494$317$53
35 years$1,610$1,083$710$455$287$45
36 years$1,549$1,028$664$419$260$38
37 years$1,490$977$622$386$236$32
38 years$1,435$928$582$356$214$27
39 years$1,383$883$545$328$194$23
40 years$1,333$840$511$303$176$20
41 years$1,286$799$479$279$159$17
42 years$1,241$761$450$258$145$14
43 years$1,199$725$422$238$131$12
44 years$1,158$691$396$220$119$10
45 years$1,120$659$372$203$108$9
46 years$1,083$629$349$187$98$7
47 years$1,048$600$328$173$89$6
48 years$1,015$573$308$160$81$5
49 years$983$547$290$148$74$5
50 years$952$523$272$137$67$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $975,000, adding $3,526 every year, while hoping to spend $32,536 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: 46/45/9 Blend
62$975,000$975,000$975,000$975,000
63$1,078,087$1,026,412$1,011,300$1,124,826
64$1,153,434$1,042,088$1,010,560$1,173,106
65$1,235,376$1,057,442$1,008,705$1,221,797
66$1,324,551$1,072,423$1,005,664$1,273,872
67$1,421,661$1,086,978$1,001,360$1,329,653
68$1,527,480$1,101,050$995,715$1,389,498
69$1,642,858$1,114,577$988,646$1,453,803
70$1,768,732$1,127,493$980,068$1,523,001
71$1,906,130$1,139,728$969,888$1,597,575
72$2,056,189$1,151,208$958,013$1,678,054
73$2,220,156$1,161,853$944,342$1,765,027
74$2,399,406$1,171,578$928,772$1,859,138
75$2,595,453$1,180,293$911,193$1,961,104
76$2,809,963$1,187,900$891,491$2,071,712
77$3,044,770$1,194,299$869,548$2,191,834
78$3,301,896$1,199,379$845,237$2,322,431
79$3,583,566$1,203,024$818,428$2,464,563
80$3,892,229$1,205,112$788,985$2,619,402
81$4,230,585$1,205,511$756,765$2,788,242
82$4,601,605$1,204,082$721,617$2,972,509
83$5,008,564$1,200,677$683,387$3,173,778
84$5,455,067$1,195,140$641,909$3,393,789
85$5,945,086$1,187,303$597,015$3,634,460
86$6,482,995$1,176,992$548,525$3,897,910
87$7,073,613$1,164,017$496,254$4,186,475
88$7,722,249$1,148,181$440,006$4,502,734
89$8,434,750$1,129,274$379,578$4,849,535
90$9,217,559$1,107,072$314,758$5,230,017
91$10,077,772$1,081,341$245,324$5,647,647
92$11,023,207$1,051,829$171,045$6,106,248
93$12,062,478$1,018,272$91,679$6,610,040
94$13,205,074$980,391$6,973$7,163,677
95$14,461,449$937,888$0$7,772,294
96$15,843,123$890,451$0$8,449,569
97$17,362,786$837,747$0$9,194,976
98$19,034,420$779,427$0$10,014,767
99$20,873,431$715,118$0$10,916,575
100$22,896,791$644,430$0$11,908,821