Can I retire at age 63 with 987,000?

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 $987,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.3%
1 years$81,506$80,780$80,071$79,380$78,705$76,369
2 years$40,349$39,598$38,870$38,163$37,478$35,144
3 years$26,632$25,878$25,151$24,452$23,778$21,519
4 years$19,775$19,023$18,304$17,616$16,959$14,792
5 years$15,662$14,914$14,204$13,531$12,892$10,823
6 years$12,921$12,178$11,479$10,821$10,201$8,232
7 years$10,963$10,227$9,539$8,896$8,296$6,427
8 years$9,496$8,767$8,090$7,463$6,882$5,113
9 years$8,356$7,633$6,968$6,357$5,796$4,123
10 years$7,444$6,728$6,075$5,480$4,938$3,360
11 years$6,698$5,990$5,348$4,769$4,247$2,761
12 years$6,077$5,376$4,746$4,183$3,680$2,284
13 years$5,552$4,858$4,241$3,693$3,209$1,898
14 years$5,102$4,416$3,810$3,278$2,813$1,585
15 years$4,713$4,034$3,440$2,924$2,477$1,328
16 years$4,373$3,701$3,119$2,618$2,189$1,115
17 years$4,073$3,409$2,838$2,352$1,941$939
18 years$3,806$3,150$2,591$2,120$1,726$792
19 years$3,568$2,919$2,372$1,915$1,538$670
20 years$3,355$2,713$2,177$1,735$1,374$567
21 years$3,161$2,527$2,002$1,574$1,230$480
22 years$2,986$2,359$1,845$1,431$1,102$407
23 years$2,826$2,206$1,704$1,304$989$345
24 years$2,679$2,067$1,576$1,189$889$293
25 years$2,545$1,940$1,459$1,086$800$249
26 years$2,421$1,823$1,354$993$721$212
27 years$2,306$1,716$1,257$909$650$180
28 years$2,200$1,617$1,168$833$586$153
29 years$2,101$1,525$1,087$764$530$130
30 years$2,009$1,440$1,013$701$478$111
31 years$1,923$1,362$944$644$433$95
32 years$1,843$1,288$881$591$391$81
33 years$1,768$1,220$823$544$354$69
34 years$1,697$1,156$769$500$321$58
35 years$1,630$1,097$719$461$290$50
36 years$1,568$1,041$672$424$263$42
37 years$1,508$989$629$391$238$36
38 years$1,452$940$589$360$216$31
39 years$1,400$893$552$332$196$26
40 years$1,349$850$517$306$178$22
41 years$1,302$809$485$283$161$19
42 years$1,257$771$455$261$146$16
43 years$1,214$734$427$241$133$14
44 years$1,173$700$401$222$121$12
45 years$1,134$667$376$205$109$10
46 years$1,097$637$354$190$99$9
47 years$1,061$608$332$175$90$7
48 years$1,027$580$312$162$82$6
49 years$995$554$293$150$74$5
50 years$964$529$276$138$68$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $987,000, adding $2,362 every year, while hoping to spend $33,276 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: 53/41/6 Blend
62$987,000$987,000$987,000$987,000
63$1,090,110$1,037,799$1,022,501$1,146,257
64$1,165,896$1,053,246$1,021,349$1,199,974
65$1,248,297$1,068,335$1,019,044$1,254,533
66$1,337,952$1,083,012$1,015,511$1,313,078
67$1,435,566$1,097,222$1,010,673$1,375,992
68$1,541,912$1,110,904$1,004,448$1,443,696
69$1,657,842$1,123,994$996,753$1,516,655
70$1,784,296$1,136,423$987,498$1,595,382
71$1,922,304$1,148,118$976,589$1,680,443
72$2,073,003$1,159,000$963,929$1,772,461
73$2,237,644$1,168,986$949,415$1,872,125
74$2,417,604$1,177,986$932,941$1,980,195
75$2,614,400$1,185,908$914,395$2,097,508
76$2,829,700$1,192,648$893,658$2,224,988
77$3,065,342$1,198,101$870,609$2,363,657
78$3,323,351$1,202,152$845,118$2,514,638
79$3,605,955$1,204,679$817,051$2,679,174
80$3,915,609$1,205,555$786,269$2,858,633
81$4,255,015$1,204,642$752,623$3,054,527
82$4,627,152$1,201,794$715,961$3,268,523
83$5,035,297$1,196,858$676,122$3,502,459
84$5,483,063$1,189,669$632,937$3,758,365
85$5,974,427$1,180,055$586,232$4,038,477
86$6,513,771$1,167,830$535,824$4,345,266
87$7,105,921$1,152,799$481,520$4,681,454
88$7,756,195$1,134,757$423,121$5,050,045
89$8,470,449$1,113,482$360,417$5,454,353
90$9,255,136$1,088,743$293,192$5,898,032
91$10,117,362$1,060,294$221,217$6,385,116
92$11,064,959$1,027,875$144,254$6,920,050
93$12,106,554$991,209$62,054$7,507,739
94$13,251,649$950,005$0$8,153,593
95$14,510,716$903,954$0$8,865,221
96$15,895,291$852,730$0$9,651,906
97$17,418,084$795,987$0$10,516,946
98$19,093,098$733,360$0$11,468,364
99$20,935,763$664,463$0$12,515,004
100$22,963,076$588,888$0$13,666,619