Can I retire at age 63 with 986,000?

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 $986,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$81,423$80,698$79,990$79,299$78,625$77,259
2 years$40,308$39,558$38,830$38,125$37,440$36,069
3 years$26,605$25,851$25,126$24,427$23,754$22,419
4 years$19,755$19,004$18,285$17,598$16,941$15,654
5 years$15,646$14,899$14,190$13,517$12,879$11,642
6 years$12,908$12,166$11,468$10,810$10,190$9,006
7 years$10,952$10,217$9,530$8,887$8,288$7,156
8 years$9,487$8,758$8,082$7,455$6,875$5,796
9 years$8,347$7,625$6,961$6,350$5,790$4,762
10 years$7,436$6,721$6,069$5,474$4,933$3,957
11 years$6,691$5,984$5,343$4,764$4,243$3,316
12 years$6,071$5,371$4,742$4,179$3,677$2,798
13 years$5,546$4,853$4,236$3,689$3,206$2,375
14 years$5,097$4,412$3,806$3,275$2,811$2,025
15 years$4,708$4,030$3,437$2,921$2,475$1,734
16 years$4,368$3,698$3,116$2,615$2,187$1,489
17 years$4,069$3,405$2,835$2,350$1,939$1,282
18 years$3,803$3,147$2,588$2,117$1,724$1,107
19 years$3,565$2,916$2,369$1,913$1,537$957
20 years$3,351$2,710$2,174$1,733$1,373$829
21 years$3,158$2,524$2,000$1,573$1,228$719
22 years$2,983$2,356$1,843$1,430$1,101$625
23 years$2,823$2,204$1,702$1,302$988$543
24 years$2,676$2,065$1,574$1,188$888$473
25 years$2,542$1,938$1,458$1,085$799$412
26 years$2,418$1,821$1,352$992$720$359
27 years$2,304$1,714$1,256$908$649$313
28 years$2,198$1,615$1,167$832$586$273
29 years$2,099$1,524$1,086$763$529$238
30 years$2,007$1,439$1,012$700$478$208
31 years$1,921$1,360$943$643$432$182
32 years$1,841$1,287$880$591$391$159
33 years$1,766$1,219$822$543$354$139
34 years$1,695$1,155$768$500$320$121
35 years$1,629$1,096$718$460$290$106
36 years$1,566$1,040$672$424$263$93
37 years$1,507$988$629$391$238$81
38 years$1,451$939$589$360$216$71
39 years$1,398$893$551$332$196$62
40 years$1,348$849$517$306$178$54
41 years$1,300$808$485$282$161$48
42 years$1,255$770$455$261$146$42
43 years$1,212$734$427$241$133$36
44 years$1,172$699$400$222$120$32
45 years$1,133$667$376$205$109$28
46 years$1,095$636$353$190$99$24
47 years$1,060$607$332$175$90$21
48 years$1,026$579$312$162$82$19
49 years$994$553$293$150$74$16
50 years$963$529$276$138$68$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $986,000, adding $4,733 every year, while hoping to spend $43,118 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: 64/11/25 Blend
62$986,000$986,000$986,000$986,000
63$1,091,454$1,039,196$1,023,913$1,153,861
64$1,156,905$1,044,239$1,012,337$1,201,626
65$1,227,587$1,048,085$998,928$1,248,570
66$1,303,988$1,050,628$983,579$1,298,899
67$1,386,644$1,051,758$966,178$1,352,951
68$1,476,145$1,051,358$946,609$1,411,097
69$1,573,139$1,049,302$924,747$1,473,749
70$1,678,339$1,045,457$900,466$1,541,361
71$1,792,529$1,039,684$873,631$1,614,434
72$1,916,571$1,031,832$844,101$1,693,524
73$2,051,412$1,021,743$811,730$1,779,244
74$2,198,098$1,009,249$776,364$1,872,270
75$2,357,774$994,173$737,843$1,973,349
76$2,531,705$976,325$695,998$2,083,309
77$2,721,280$955,506$650,655$2,203,060
78$2,928,028$931,504$601,630$2,333,611
79$3,153,635$904,096$548,732$2,476,072
80$3,399,952$873,042$491,761$2,631,673
81$3,669,019$838,094$430,508$2,801,770
82$3,963,084$798,985$364,754$2,987,859
83$4,284,617$755,434$294,272$3,191,594
84$4,636,341$707,144$218,824$3,414,798
85$5,021,255$653,800$138,161$3,659,485
86$5,442,657$595,071$52,024$3,927,879
87$5,904,184$530,605$0$4,222,431
88$6,409,837$460,031$0$4,556,494
89$6,964,024$382,957$0$4,937,912
90$7,571,601$298,968$0$5,356,170
91$8,237,914$207,627$0$5,814,987
92$8,968,853$108,472$0$6,318,463
93$9,770,903$1,014$0$6,871,116
94$10,651,209$0$0$7,477,924
95$11,617,643$0$0$8,158,328
96$12,678,874$0$0$8,905,679
97$13,844,451$0$0$9,726,588
98$15,124,895$0$0$10,628,475
99$16,531,797$0$0$11,619,512
100$18,077,924$0$0$12,708,703