Can I retire at age 63 with 985,000?

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 $985,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$81,340$80,616$79,909$79,219$78,545$77,086
2 years$40,268$39,518$38,791$38,086$37,403$35,937
3 years$26,578$25,825$25,100$24,402$23,730$22,305
4 years$19,735$18,984$18,267$17,580$16,924$15,550
5 years$15,630$14,884$14,176$13,503$12,866$11,547
6 years$12,895$12,154$11,456$10,799$10,180$8,918
7 years$10,941$10,207$9,520$8,878$8,279$7,074
8 years$9,477$8,749$8,074$7,448$6,868$5,720
9 years$8,339$7,618$6,954$6,344$5,784$4,691
10 years$7,429$6,715$6,063$5,468$4,928$3,890
11 years$6,684$5,978$5,337$4,759$4,239$3,254
12 years$6,065$5,365$4,737$4,174$3,673$2,741
13 years$5,541$4,849$4,232$3,685$3,203$2,322
14 years$5,092$4,407$3,802$3,271$2,808$1,976
15 years$4,704$4,026$3,433$2,918$2,472$1,688
16 years$4,364$3,694$3,113$2,612$2,185$1,446
17 years$4,065$3,402$2,832$2,347$1,937$1,243
18 years$3,799$3,143$2,586$2,115$1,723$1,070
19 years$3,561$2,913$2,367$1,911$1,535$924
20 years$3,348$2,707$2,172$1,731$1,371$798
21 years$3,155$2,522$1,998$1,571$1,227$691
22 years$2,980$2,354$1,842$1,428$1,100$599
23 years$2,820$2,202$1,700$1,301$987$519
24 years$2,674$2,063$1,573$1,187$888$451
25 years$2,539$1,936$1,456$1,084$799$392
26 years$2,416$1,819$1,351$991$719$341
27 years$2,301$1,712$1,254$907$649$296
28 years$2,195$1,613$1,166$831$585$258
29 years$2,097$1,522$1,085$762$528$225
30 years$2,005$1,437$1,011$699$477$196
31 years$1,919$1,359$942$642$432$171
32 years$1,839$1,286$879$590$391$149
33 years$1,764$1,218$821$543$353$130
34 years$1,693$1,154$767$499$320$113
35 years$1,627$1,095$717$460$290$99
36 years$1,564$1,039$671$423$263$86
37 years$1,505$987$628$390$238$75
38 years$1,450$938$588$360$216$66
39 years$1,397$892$551$332$196$57
40 years$1,347$848$516$306$177$50
41 years$1,299$808$484$282$161$44
42 years$1,254$769$454$260$146$38
43 years$1,211$733$426$240$133$33
44 years$1,170$698$400$222$120$29
45 years$1,131$666$376$205$109$25
46 years$1,094$635$353$189$99$22
47 years$1,059$606$331$175$90$19
48 years$1,025$579$311$162$82$17
49 years$993$553$293$149$74$15
50 years$962$528$275$138$67$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $985,000, adding $3,608 every year, while hoping to spend $40,760 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: 73/7/20 Blend
62$985,000$985,000$985,000$985,000
63$1,089,192$1,036,987$1,021,719$1,163,232
64$1,156,921$1,044,431$1,012,578$1,220,358
65$1,230,192$1,050,873$1,001,765$1,277,655
66$1,309,528$1,056,223$989,181$1,339,389
67$1,395,503$1,060,380$974,721$1,405,991
68$1,488,748$1,063,243$958,278$1,477,941
69$1,589,958$1,064,699$939,738$1,555,766
70$1,699,895$1,064,631$918,981$1,640,046
71$1,819,401$1,062,914$895,883$1,731,422
72$1,949,399$1,059,416$870,314$1,830,602
73$2,090,905$1,053,995$842,138$1,938,364
74$2,245,040$1,046,503$811,211$2,055,569
75$2,413,033$1,036,781$777,386$2,183,166
76$2,596,241$1,024,661$740,507$2,322,198
77$2,796,153$1,009,966$700,409$2,473,820
78$3,014,412$992,505$656,925$2,639,303
79$3,252,825$972,080$609,874$2,820,050
80$3,513,380$948,480$559,072$3,017,606
81$3,798,268$921,478$504,324$3,233,678
82$4,109,900$890,840$445,428$3,470,146
83$4,450,931$856,312$382,171$3,729,083
84$4,824,285$817,630$314,332$4,012,777
85$5,233,180$774,513$241,681$4,323,749
86$5,681,163$726,662$163,976$4,664,779
87$6,172,137$673,764$80,964$5,038,934
88$6,710,403$615,486$0$5,449,594
89$7,300,696$551,477$0$5,902,114
90$7,948,233$481,365$0$6,417,521
91$8,658,758$404,758$0$6,983,112
92$9,438,602$321,241$0$7,603,946
93$10,294,733$230,376$0$8,285,600
94$11,234,832$131,701$0$9,034,216
95$12,267,358$24,726$0$9,856,564
96$13,401,628$0$0$10,760,100
97$14,647,907$0$0$11,760,057
98$16,017,506$0$0$12,861,101
99$17,522,883$0$0$14,071,349
100$19,177,763$0$0$15,401,843