Can I retire at age 63 with 983,000?

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 $983,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$81,175$80,452$79,747$79,058$78,386$77,246
2 years$40,186$39,437$38,712$38,009$37,327$36,181
3 years$26,524$25,773$25,049$24,353$23,682$22,565
4 years$19,695$18,946$18,229$17,545$16,890$15,812
5 years$15,599$14,854$14,147$13,476$12,839$11,803
6 years$12,868$12,129$11,433$10,777$10,159$9,165
7 years$10,919$10,186$9,501$8,860$8,262$7,311
8 years$9,458$8,731$8,057$7,433$6,854$5,945
9 years$8,322$7,602$6,940$6,331$5,772$4,906
10 years$7,413$6,701$6,050$5,457$4,918$4,093
11 years$6,671$5,965$5,327$4,750$4,230$3,445
12 years$6,052$5,354$4,727$4,166$3,666$2,921
13 years$5,530$4,839$4,223$3,678$3,196$2,490
14 years$5,082$4,398$3,795$3,265$2,802$2,134
15 years$4,694$4,018$3,426$2,912$2,467$1,835
16 years$4,355$3,686$3,106$2,607$2,180$1,584
17 years$4,056$3,395$2,827$2,342$1,933$1,371
18 years$3,791$3,137$2,580$2,111$1,719$1,189
19 years$3,554$2,907$2,362$1,907$1,532$1,034
20 years$3,341$2,702$2,168$1,728$1,369$900
21 years$3,148$2,517$1,994$1,568$1,225$785
22 years$2,974$2,349$1,838$1,426$1,098$685
23 years$2,814$2,197$1,697$1,298$985$599
24 years$2,668$2,059$1,569$1,184$886$524
25 years$2,534$1,932$1,454$1,081$797$459
26 years$2,411$1,816$1,348$989$718$403
27 years$2,297$1,709$1,252$905$647$353
28 years$2,191$1,610$1,164$829$584$310
29 years$2,093$1,519$1,083$760$527$272
30 years$2,001$1,434$1,009$698$477$239
31 years$1,915$1,356$940$641$431$210
32 years$1,835$1,283$877$589$390$184
33 years$1,760$1,215$819$542$353$162
34 years$1,690$1,152$765$498$319$143
35 years$1,624$1,092$716$459$289$125
36 years$1,561$1,037$669$423$262$110
37 years$1,502$985$627$389$238$97
38 years$1,447$936$587$359$215$85
39 years$1,394$890$550$331$195$75
40 years$1,344$847$515$305$177$66
41 years$1,297$806$483$282$161$58
42 years$1,252$768$453$260$146$51
43 years$1,209$731$425$240$132$45
44 years$1,168$697$399$221$120$40
45 years$1,129$665$375$205$109$35
46 years$1,092$634$352$189$99$31
47 years$1,057$605$331$175$90$27
48 years$1,023$578$311$161$82$24
49 years$991$552$292$149$74$21
50 years$960$527$275$138$67$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $983,000, adding $3,193 every year, while hoping to spend $24,242 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: 71/9/20 Blend
62$983,000$983,000$983,000$983,000
63$1,086,560$1,034,461$1,019,224$1,158,208
64$1,171,595$1,059,356$1,027,575$1,231,248
65$1,264,492$1,084,658$1,035,393$1,308,005
66$1,366,027$1,110,363$1,042,635$1,391,441
67$1,477,053$1,136,462$1,049,254$1,482,215
68$1,598,512$1,162,949$1,055,204$1,581,052
69$1,731,441$1,189,814$1,060,434$1,688,752
70$1,876,979$1,217,046$1,064,890$1,806,195
71$2,036,384$1,244,634$1,068,516$1,934,352
72$2,211,038$1,272,564$1,071,255$2,074,293
73$2,402,466$1,300,821$1,073,044$2,227,194
74$2,612,345$1,329,390$1,073,819$2,394,355
75$2,842,524$1,358,250$1,073,511$2,577,205
76$3,095,039$1,387,381$1,072,051$2,777,322
77$3,372,131$1,416,761$1,069,363$2,996,441
78$3,676,271$1,446,364$1,065,369$3,236,477
79$4,010,178$1,476,164$1,059,987$3,499,538
80$4,376,851$1,506,131$1,053,131$3,787,950
81$4,779,589$1,536,231$1,044,710$4,104,274
82$5,222,030$1,566,429$1,034,631$4,451,331
83$5,708,181$1,596,688$1,022,795$4,832,234
84$6,242,454$1,626,964$1,009,097$5,250,409
85$6,829,712$1,657,213$993,430$5,709,635
86$7,475,312$1,687,386$975,679$6,214,075
87$8,185,156$1,717,430$955,726$6,768,318
88$8,965,746$1,747,288$933,447$7,377,419
89$9,824,245$1,776,898$908,711$8,046,952
90$10,768,548$1,806,196$881,382$8,783,057
91$11,807,349$1,835,109$851,318$9,592,504
92$12,950,232$1,863,562$818,370$10,482,750
93$14,207,751$1,891,473$782,382$11,462,017
94$15,591,541$1,918,754$743,190$12,539,364
95$17,114,417$1,945,312$700,626$13,724,774
96$18,790,502$1,971,046$654,511$15,029,251
97$20,635,355$1,995,849$604,659$16,464,921
98$22,666,122$2,019,607$550,876$18,045,149
99$24,901,695$2,042,196$492,959$19,784,662
100$27,362,891$2,063,487$430,697$21,699,692