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%14.7%
1 years$81,506$80,780$80,071$79,380$78,705$77,179
2 years$40,349$39,598$38,870$38,163$37,478$35,947
3 years$26,632$25,878$25,151$24,452$23,778$22,289
4 years$19,775$19,023$18,304$17,616$16,959$15,524
5 years$15,662$14,914$14,204$13,531$12,892$11,515
6 years$12,921$12,178$11,479$10,821$10,201$8,884
7 years$10,963$10,227$9,539$8,896$8,296$7,039
8 years$9,496$8,767$8,090$7,463$6,882$5,685
9 years$8,356$7,633$6,968$6,357$5,796$4,657
10 years$7,444$6,728$6,075$5,480$4,938$3,857
11 years$6,698$5,990$5,348$4,769$4,247$3,223
12 years$6,077$5,376$4,746$4,183$3,680$2,711
13 years$5,552$4,858$4,241$3,693$3,209$2,293
14 years$5,102$4,416$3,810$3,278$2,813$1,949
15 years$4,713$4,034$3,440$2,924$2,477$1,662
16 years$4,373$3,701$3,119$2,618$2,189$1,423
17 years$4,073$3,409$2,838$2,352$1,941$1,221
18 years$3,806$3,150$2,591$2,120$1,726$1,050
19 years$3,568$2,919$2,372$1,915$1,538$905
20 years$3,355$2,713$2,177$1,735$1,374$781
21 years$3,161$2,527$2,002$1,574$1,230$675
22 years$2,986$2,359$1,845$1,431$1,102$584
23 years$2,826$2,206$1,704$1,304$989$506
24 years$2,679$2,067$1,576$1,189$889$438
25 years$2,545$1,940$1,459$1,086$800$380
26 years$2,421$1,823$1,354$993$721$330
27 years$2,306$1,716$1,257$909$650$287
28 years$2,200$1,617$1,168$833$586$249
29 years$2,101$1,525$1,087$764$530$217
30 years$2,009$1,440$1,013$701$478$188
31 years$1,923$1,362$944$644$433$164
32 years$1,843$1,288$881$591$391$143
33 years$1,768$1,220$823$544$354$124
34 years$1,697$1,156$769$500$321$108
35 years$1,630$1,097$719$461$290$94
36 years$1,568$1,041$672$424$263$82
37 years$1,508$989$629$391$238$71
38 years$1,452$940$589$360$216$62
39 years$1,400$893$552$332$196$54
40 years$1,349$850$517$306$178$47
41 years$1,302$809$485$283$161$41
42 years$1,257$771$455$261$146$36
43 years$1,214$734$427$241$133$31
44 years$1,173$700$401$222$121$27
45 years$1,134$667$376$205$109$24
46 years$1,097$637$354$190$99$21
47 years$1,061$608$332$175$90$18
48 years$1,027$580$312$162$82$16
49 years$995$554$293$150$74$14
50 years$964$529$276$138$68$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $987,000, adding $4,538 every year, while hoping to spend $36,761 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: 46/28/26 Blend
62$987,000$987,000$987,000$987,000
63$1,092,355$1,040,044$1,024,745$1,134,253
64$1,164,662$1,051,893$1,019,961$1,176,138
65$1,243,112$1,063,090$1,013,784$1,217,621
66$1,328,293$1,073,565$1,006,130$1,261,909
67$1,420,851$1,083,242$996,908$1,309,284
68$1,521,499$1,092,042$986,025$1,360,058
69$1,631,017$1,099,877$973,382$1,414,576
70$1,750,268$1,106,658$958,877$1,473,221
71$1,880,198$1,112,288$942,403$1,536,414
72$2,021,850$1,116,662$923,845$1,604,625
73$2,176,372$1,119,671$903,087$1,678,371
74$2,345,027$1,121,199$880,005$1,758,224
75$2,529,203$1,121,122$854,469$1,844,820
76$2,730,433$1,119,309$826,345$1,938,857
77$2,950,401$1,115,618$795,491$2,041,113
78$3,190,962$1,109,903$761,760$2,152,443
79$3,454,158$1,102,006$724,997$2,273,796
80$3,742,238$1,091,761$685,040$2,406,219
81$4,057,678$1,078,989$641,721$2,550,871
82$4,403,206$1,063,504$594,863$2,709,032
83$4,781,825$1,045,107$544,283$2,882,115
84$5,196,841$1,023,588$489,787$3,071,686
85$5,651,899$998,724$431,174$3,279,469
86$6,151,009$970,278$368,235$3,507,374
87$6,698,590$938,000$300,750$3,757,509
88$7,299,511$901,626$228,489$4,032,201
89$7,959,132$860,877$151,214$4,334,023
90$8,683,359$815,456$68,676$4,665,813
91$9,478,698$765,049$0$5,030,709
92$10,352,315$709,326$0$5,437,556
93$11,312,104$647,936$0$5,905,476
94$12,366,764$580,510$0$6,419,696
95$13,525,875$506,656$0$6,984,957
96$14,799,992$425,961$0$7,606,488
97$16,200,746$337,987$0$8,290,056
98$17,740,948$242,274$0$9,042,019
99$19,434,714$138,335$0$9,869,389
100$21,297,596$25,655$0$10,779,897