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%14.6%
1 years$80,515$79,797$79,098$78,415$77,748$76,272
2 years$39,859$39,116$38,397$37,699$37,023$35,541
3 years$26,309$25,563$24,845$24,154$23,489$22,048
4 years$19,535$18,791$18,081$17,402$16,752$15,364
5 years$15,472$14,733$14,032$13,366$12,735$11,402
6 years$12,764$12,030$11,340$10,689$10,077$8,801
7 years$10,830$10,103$9,423$8,788$8,195$6,978
8 years$9,381$8,660$7,992$7,372$6,799$5,639
9 years$8,254$7,540$6,883$6,279$5,725$4,622
10 years$7,353$6,646$6,001$5,413$4,878$3,831
11 years$6,617$5,917$5,283$4,711$4,196$3,202
12 years$6,003$5,311$4,689$4,132$3,636$2,696
13 years$5,485$4,799$4,189$3,648$3,170$2,282
14 years$5,040$4,362$3,764$3,238$2,779$1,940
15 years$4,656$3,985$3,398$2,888$2,447$1,656
16 years$4,320$3,656$3,081$2,586$2,163$1,419
17 years$4,023$3,367$2,804$2,323$1,918$1,218
18 years$3,760$3,112$2,559$2,094$1,705$1,048
19 years$3,525$2,884$2,343$1,892$1,520$904
20 years$3,314$2,680$2,150$1,714$1,357$781
21 years$3,123$2,496$1,978$1,555$1,215$675
22 years$2,949$2,330$1,823$1,414$1,089$585
23 years$2,791$2,179$1,683$1,288$977$507
24 years$2,647$2,042$1,557$1,174$879$440
25 years$2,514$1,916$1,442$1,073$791$382
26 years$2,391$1,801$1,337$981$712$332
27 years$2,278$1,695$1,242$898$642$288
28 years$2,173$1,597$1,154$822$579$251
29 years$2,076$1,507$1,074$754$523$218
30 years$1,985$1,423$1,000$692$473$190
31 years$1,900$1,345$933$636$427$165
32 years$1,820$1,273$870$584$387$144
33 years$1,746$1,205$813$537$350$125
34 years$1,676$1,142$759$494$317$109
35 years$1,610$1,083$710$455$287$95
36 years$1,549$1,028$664$419$260$83
37 years$1,490$977$622$386$236$72
38 years$1,435$928$582$356$214$63
39 years$1,383$883$545$328$194$55
40 years$1,333$840$511$303$176$48
41 years$1,286$799$479$279$159$42
42 years$1,241$761$450$258$145$37
43 years$1,199$725$422$238$131$32
44 years$1,158$691$396$220$119$28
45 years$1,120$659$372$203$108$24
46 years$1,083$629$349$187$98$21
47 years$1,048$600$328$173$89$18
48 years$1,015$573$308$160$81$16
49 years$983$547$290$148$74$14
50 years$952$523$272$137$67$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $975,000, adding $3,686 every year, while hoping to spend $48,440 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: 28/45/27 Blend
62$975,000$975,000$975,000$975,000
63$1,078,252$1,026,577$1,011,465$1,099,319
64$1,136,694$1,025,340$993,809$1,115,142
65$1,199,474$1,022,418$973,938$1,127,686
66$1,266,982$1,017,679$951,727$1,140,181
67$1,339,649$1,010,979$927,045$1,152,656
68$1,417,946$1,002,170$899,754$1,165,148
69$1,502,391$991,092$869,710$1,177,701
70$1,593,554$977,574$836,765$1,190,369
71$1,692,060$961,439$800,760$1,203,217
72$1,798,597$942,496$761,532$1,216,322
73$1,913,919$920,544$718,909$1,229,774
74$2,038,859$895,370$672,712$1,243,679
75$2,174,328$866,749$622,753$1,258,160
76$2,321,331$834,441$568,837$1,273,360
77$2,480,974$798,196$510,760$1,289,444
78$2,654,470$757,744$448,307$1,306,601
79$2,843,157$712,804$381,256$1,325,047
80$3,048,504$663,077$309,374$1,345,031
81$3,272,130$608,247$232,417$1,366,835
82$3,515,816$547,979$150,131$1,390,780
83$3,781,520$481,921$62,251$1,417,230
84$4,071,399$409,699$0$1,446,597
85$4,387,827$330,920$0$1,488,431
86$4,733,417$245,167$0$1,553,903
87$5,111,046$151,999$0$1,625,740
88$5,523,879$50,954$0$1,704,698
89$5,975,403$0$0$1,791,622
90$6,469,458$0$0$1,916,399
91$7,010,270$0$0$2,080,757
92$7,602,494$0$0$2,260,901
93$8,251,256$0$0$2,458,407
94$8,962,201$0$0$2,675,017
95$9,741,546$0$0$2,912,646
96$10,596,138$0$0$3,173,402
97$11,533,518$0$0$3,459,612
98$12,561,993$0$0$3,773,834
99$13,690,713$0$0$4,118,890
100$14,929,754$0$0$4,497,885