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%17.2%
1 years$81,506$80,780$80,071$79,380$78,705$76,400
2 years$40,349$39,598$38,870$38,163$37,478$35,175
3 years$26,632$25,878$25,151$24,452$23,778$21,548
4 years$19,775$19,023$18,304$17,616$16,959$14,819
5 years$15,662$14,914$14,204$13,531$12,892$10,849
6 years$12,921$12,178$11,479$10,821$10,201$8,256
7 years$10,963$10,227$9,539$8,896$8,296$6,450
8 years$9,496$8,767$8,090$7,463$6,882$5,134
9 years$8,356$7,633$6,968$6,357$5,796$4,143
10 years$7,444$6,728$6,075$5,480$4,938$3,378
11 years$6,698$5,990$5,348$4,769$4,247$2,778
12 years$6,077$5,376$4,746$4,183$3,680$2,299
13 years$5,552$4,858$4,241$3,693$3,209$1,912
14 years$5,102$4,416$3,810$3,278$2,813$1,598
15 years$4,713$4,034$3,440$2,924$2,477$1,339
16 years$4,373$3,701$3,119$2,618$2,189$1,126
17 years$4,073$3,409$2,838$2,352$1,941$949
18 years$3,806$3,150$2,591$2,120$1,726$801
19 years$3,568$2,919$2,372$1,915$1,538$677
20 years$3,355$2,713$2,177$1,735$1,374$574
21 years$3,161$2,527$2,002$1,574$1,230$486
22 years$2,986$2,359$1,845$1,431$1,102$413
23 years$2,826$2,206$1,704$1,304$989$351
24 years$2,679$2,067$1,576$1,189$889$298
25 years$2,545$1,940$1,459$1,086$800$253
26 years$2,421$1,823$1,354$993$721$216
27 years$2,306$1,716$1,257$909$650$183
28 years$2,200$1,617$1,168$833$586$156
29 years$2,101$1,525$1,087$764$530$133
30 years$2,009$1,440$1,013$701$478$113
31 years$1,923$1,362$944$644$433$97
32 years$1,843$1,288$881$591$391$82
33 years$1,768$1,220$823$544$354$70
34 years$1,697$1,156$769$500$321$60
35 years$1,630$1,097$719$461$290$51
36 years$1,568$1,041$672$424$263$44
37 years$1,508$989$629$391$238$37
38 years$1,452$940$589$360$216$32
39 years$1,400$893$552$332$196$27
40 years$1,349$850$517$306$178$23
41 years$1,302$809$485$283$161$20
42 years$1,257$771$455$261$146$17
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$8
48 years$1,027$580$312$162$82$6
49 years$995$554$293$150$74$6
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 $6,053 every year, while hoping to spend $25,538 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: 46/36/18 Blend
62$987,000$987,000$987,000$987,000
63$1,093,918$1,041,607$1,026,308$1,138,364
64$1,178,325$1,065,473$1,033,517$1,193,865
65$1,270,486$1,089,653$1,040,112$1,251,002
66$1,371,165$1,114,135$1,046,045$1,312,449
67$1,481,202$1,138,906$1,051,265$1,378,619
68$1,601,523$1,163,951$1,055,722$1,449,966
69$1,733,148$1,189,255$1,059,358$1,526,990
70$1,877,200$1,214,799$1,062,117$1,610,243
71$2,034,914$1,240,563$1,063,937$1,700,332
72$2,207,651$1,266,527$1,064,755$1,797,928
73$2,396,910$1,292,666$1,064,504$1,903,769
74$2,604,342$1,318,954$1,063,112$2,018,669
75$2,831,766$1,345,363$1,060,507$2,143,525
76$3,081,182$1,371,862$1,056,610$2,279,327
77$3,354,797$1,398,418$1,051,341$2,427,164
78$3,655,040$1,424,994$1,044,614$2,588,238
79$3,984,587$1,451,551$1,036,341$2,763,875
80$4,346,384$1,478,046$1,026,428$2,955,535
81$4,743,679$1,504,434$1,014,777$3,164,829
82$5,180,047$1,530,665$1,001,285$3,393,531
83$5,659,429$1,556,685$985,846$3,643,599
84$6,186,166$1,582,437$968,346$3,917,191
85$6,765,038$1,607,859$948,669$4,216,685
86$7,401,313$1,632,886$926,691$4,544,704
87$8,100,795$1,657,445$902,283$4,904,138
88$8,869,877$1,681,461$875,310$5,298,177
89$9,715,604$1,704,852$845,633$5,730,332
90$10,645,737$1,727,531$813,102$6,204,479
91$11,668,826$1,749,404$777,565$6,724,888
92$12,794,292$1,770,371$738,860$7,296,266
93$14,032,517$1,790,326$696,819$7,923,806
94$15,394,936$1,809,154$651,265$8,613,228
95$16,894,152$1,826,735$602,014$9,370,841
96$18,544,049$1,842,939$548,876$10,203,599
97$20,359,927$1,857,628$491,648$11,119,168
98$22,358,642$1,870,654$430,121$12,125,998
99$24,558,769$1,881,862$364,076$13,233,406
100$26,980,775$1,891,085$293,284$14,451,662