Can I retire at age 63 with 978,000?

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 $978,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.5%
1 years$80,762$80,043$79,341$78,656$77,987$75,612
2 years$39,981$39,237$38,515$37,815$37,137$34,764
3 years$26,389$25,642$24,922$24,229$23,561$21,265
4 years$19,595$18,849$18,137$17,455$16,804$14,603
5 years$15,519$14,778$14,075$13,407$12,774$10,674
6 years$12,803$12,067$11,375$10,722$10,108$8,110
7 years$10,863$10,134$9,452$8,815$8,220$6,325
8 years$9,410$8,687$8,016$7,395$6,820$5,025
9 years$8,279$7,563$6,904$6,299$5,743$4,048
10 years$7,376$6,667$6,019$5,430$4,893$3,295
11 years$6,637$5,935$5,299$4,725$4,208$2,704
12 years$6,022$5,327$4,703$4,145$3,647$2,233
13 years$5,501$4,814$4,202$3,659$3,180$1,854
14 years$5,056$4,376$3,775$3,248$2,788$1,546
15 years$4,670$3,997$3,409$2,897$2,455$1,293
16 years$4,333$3,668$3,091$2,594$2,169$1,085
17 years$4,036$3,378$2,812$2,331$1,923$912
18 years$3,772$3,121$2,567$2,100$1,710$768
19 years$3,536$2,893$2,350$1,898$1,524$648
20 years$3,324$2,688$2,157$1,719$1,362$548
21 years$3,132$2,504$1,984$1,560$1,219$463
22 years$2,958$2,337$1,828$1,418$1,092$392
23 years$2,800$2,186$1,688$1,292$980$332
24 years$2,655$2,048$1,561$1,178$881$282
25 years$2,521$1,922$1,446$1,076$793$239
26 years$2,399$1,806$1,341$984$714$203
27 years$2,285$1,700$1,245$900$644$172
28 years$2,180$1,602$1,158$825$581$146
29 years$2,082$1,511$1,077$757$525$124
30 years$1,991$1,427$1,004$694$474$106
31 years$1,906$1,349$936$638$429$90
32 years$1,826$1,277$873$586$388$76
33 years$1,751$1,209$815$539$351$65
34 years$1,681$1,146$762$496$318$55
35 years$1,615$1,087$712$456$288$47
36 years$1,553$1,032$666$420$261$40
37 years$1,495$980$623$387$236$34
38 years$1,439$931$584$357$214$29
39 years$1,387$885$547$329$194$25
40 years$1,337$842$513$304$176$21
41 years$1,290$802$481$280$160$18
42 years$1,245$764$451$259$145$15
43 years$1,203$728$423$239$132$13
44 years$1,162$694$397$220$119$11
45 years$1,123$661$373$204$108$9
46 years$1,087$631$350$188$98$8
47 years$1,051$602$329$174$89$7
48 years$1,018$575$309$160$81$6
49 years$986$549$291$148$74$5
50 years$955$524$273$137$67$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $978,000, adding $3,036 every year, while hoping to spend $48,243 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: 51/41/8 Blend
62$978,000$978,000$978,000$978,000
63$1,080,888$1,029,054$1,013,895$1,133,661
64$1,139,808$1,028,147$996,530$1,169,023
65$1,203,121$1,025,579$976,967$1,202,005
66$1,271,225$1,021,218$955,080$1,236,720
67$1,344,554$1,014,922$930,740$1,273,341
68$1,423,589$1,006,543$903,810$1,312,063
69$1,508,855$995,924$874,147$1,353,101
70$1,600,930$982,896$841,603$1,396,696
71$1,700,449$967,281$806,020$1,443,116
72$1,808,109$948,893$767,237$1,492,658
73$1,924,679$927,532$725,082$1,545,655
74$2,051,002$902,986$679,378$1,602,475
75$2,188,005$875,033$629,938$1,663,528
76$2,336,707$843,436$576,567$1,729,270
77$2,498,232$807,944$519,062$1,800,206
78$2,673,812$768,294$457,211$1,876,900
79$2,864,805$724,205$390,792$1,959,975
80$3,072,705$675,381$319,573$2,050,124
81$3,299,155$621,508$243,313$2,148,117
82$3,545,963$562,257$161,758$2,254,806
83$3,815,120$497,276$74,646$2,371,139
84$4,108,816$426,197$0$2,498,165
85$4,429,463$348,628$0$2,638,611
86$4,779,714$264,157$0$2,799,105
87$5,162,493$172,348$0$2,974,723
88$5,581,014$72,741$0$3,167,074
89$6,038,822$0$0$3,377,941
90$6,539,815$0$0$3,625,154
91$7,088,288$0$0$3,931,820
92$7,688,969$0$0$4,267,779
93$8,347,067$0$0$4,635,955
94$9,068,316$0$0$5,039,571
95$9,859,033$0$0$5,482,174
96$10,726,174$0$0$5,967,672
97$11,677,401$0$0$6,500,371
98$12,721,154$0$0$7,085,010
99$13,866,728$0$0$7,726,813
100$15,124,364$0$0$8,431,532