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%12.1%
1 years$81,340$80,616$79,909$79,219$78,545$77,855
2 years$40,268$39,518$38,791$38,086$37,403$36,707
3 years$26,578$25,825$25,100$24,402$23,730$23,050
4 years$19,735$18,984$18,267$17,580$16,924$16,266
5 years$15,630$14,884$14,176$13,503$12,866$12,231
6 years$12,895$12,154$11,456$10,799$10,180$9,570
7 years$10,941$10,207$9,520$8,878$8,279$7,693
8 years$9,477$8,749$8,074$7,448$6,868$6,307
9 years$8,339$7,618$6,954$6,344$5,784$5,247
10 years$7,429$6,715$6,063$5,468$4,928$4,415
11 years$6,684$5,978$5,337$4,759$4,239$3,749
12 years$6,065$5,365$4,737$4,174$3,673$3,206
13 years$5,541$4,849$4,232$3,685$3,203$2,759
14 years$5,092$4,407$3,802$3,271$2,808$2,386
15 years$4,704$4,026$3,433$2,918$2,472$2,072
16 years$4,364$3,694$3,113$2,612$2,185$1,805
17 years$4,065$3,402$2,832$2,347$1,937$1,578
18 years$3,799$3,143$2,586$2,115$1,723$1,382
19 years$3,561$2,913$2,367$1,911$1,535$1,214
20 years$3,348$2,707$2,172$1,731$1,371$1,068
21 years$3,155$2,522$1,998$1,571$1,227$941
22 years$2,980$2,354$1,842$1,428$1,100$831
23 years$2,820$2,202$1,700$1,301$987$734
24 years$2,674$2,063$1,573$1,187$888$649
25 years$2,539$1,936$1,456$1,084$799$575
26 years$2,416$1,819$1,351$991$719$510
27 years$2,301$1,712$1,254$907$649$452
28 years$2,195$1,613$1,166$831$585$401
29 years$2,097$1,522$1,085$762$528$356
30 years$2,005$1,437$1,011$699$477$316
31 years$1,919$1,359$942$642$432$281
32 years$1,839$1,286$879$590$391$250
33 years$1,764$1,218$821$543$353$222
34 years$1,693$1,154$767$499$320$198
35 years$1,627$1,095$717$460$290$176
36 years$1,564$1,039$671$423$263$157
37 years$1,505$987$628$390$238$140
38 years$1,450$938$588$360$216$124
39 years$1,397$892$551$332$196$111
40 years$1,347$848$516$306$177$99
41 years$1,299$808$484$282$161$88
42 years$1,254$769$454$260$146$78
43 years$1,211$733$426$240$133$70
44 years$1,170$698$400$222$120$62
45 years$1,131$666$376$205$109$56
46 years$1,094$635$353$189$99$49
47 years$1,059$606$331$175$90$44
48 years$1,025$579$311$162$82$39
49 years$993$553$293$149$74$35
50 years$962$528$275$138$67$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $985,000, adding $3,512 every year, while hoping to spend $39,780 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: 64/16/20 Blend
62$985,000$985,000$985,000$985,000
63$1,089,093$1,036,888$1,021,620$1,153,026
64$1,157,854$1,045,370$1,013,519$1,204,939
65$1,232,297$1,052,934$1,003,813$1,256,812
66$1,312,957$1,059,493$992,406$1,312,553
67$1,400,426$1,064,956$979,199$1,372,543
68$1,495,353$1,069,223$964,087$1,437,202
69$1,598,454$1,072,189$946,958$1,506,995
70$1,710,514$1,073,744$927,699$1,582,433
71$1,832,398$1,073,770$906,189$1,664,082
72$1,965,058$1,072,140$882,301$1,752,566
73$2,109,541$1,068,721$855,905$1,848,573
74$2,266,998$1,063,373$826,862$1,952,864
75$2,438,698$1,055,944$795,028$2,066,279
76$2,626,036$1,046,276$760,252$2,189,743
77$2,830,548$1,034,200$722,377$2,324,280
78$3,053,925$1,019,537$681,238$2,471,018
79$3,298,028$1,002,097$636,662$2,631,203
80$3,564,907$981,679$588,470$2,806,208
81$3,856,817$958,071$536,473$2,997,552
82$4,176,243$931,048$480,476$3,206,907
83$4,525,921$900,370$420,273$3,436,121
84$4,908,863$865,786$355,650$3,687,231
85$5,328,385$827,028$286,383$3,962,487
86$5,788,142$783,814$212,238$4,264,370
87$6,292,156$735,844$132,971$4,595,616
88$6,844,859$682,803$48,329$4,959,245
89$7,451,130$624,357$0$5,358,589
90$8,116,347$560,151$0$5,806,285
91$8,846,429$489,814$0$6,309,013
92$9,647,899$412,949$0$6,860,982
93$10,527,942$329,141$0$7,467,189
94$11,494,473$237,949$0$8,133,142
95$12,556,208$138,908$0$8,864,911
96$13,722,754$31,527$0$9,669,187
97$15,004,691$0$0$10,553,346
98$16,413,675$0$0$11,540,429
99$17,962,548$0$0$12,631,691
100$19,665,458$0$0$13,831,556