Can I retire at age 63 with 988,000?

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 $988,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.3%
1 years$81,588$80,861$80,152$79,460$78,785$75,838
2 years$40,390$39,638$38,909$38,202$37,516$34,582
3 years$26,659$25,904$25,177$24,476$23,802$20,972
4 years$19,795$19,042$18,322$17,634$16,976$14,271
5 years$15,678$14,929$14,219$13,545$12,905$10,332
6 years$12,934$12,191$11,491$10,832$10,211$7,773
7 years$10,975$10,238$9,549$8,905$8,304$6,000
8 years$9,506$8,776$8,098$7,470$6,889$4,717
9 years$8,364$7,641$6,975$6,363$5,802$3,758
10 years$7,451$6,735$6,081$5,485$4,943$3,024
11 years$6,705$5,996$5,354$4,774$4,251$2,453
12 years$6,083$5,382$4,751$4,187$3,684$2,002
13 years$5,558$4,863$4,245$3,697$3,213$1,642
14 years$5,108$4,421$3,814$3,281$2,816$1,352
15 years$4,718$4,038$3,444$2,926$2,480$1,116
16 years$4,377$3,705$3,122$2,620$2,192$924
17 years$4,077$3,412$2,841$2,354$1,943$767
18 years$3,810$3,153$2,593$2,122$1,728$637
19 years$3,572$2,922$2,374$1,917$1,540$531
20 years$3,358$2,715$2,179$1,736$1,376$442
21 years$3,164$2,529$2,004$1,576$1,231$369
22 years$2,989$2,361$1,847$1,433$1,103$308
23 years$2,829$2,208$1,706$1,305$990$257
24 years$2,682$2,069$1,577$1,190$890$215
25 years$2,547$1,942$1,461$1,087$801$180
26 years$2,423$1,825$1,355$994$722$150
27 years$2,308$1,717$1,258$910$651$126
28 years$2,202$1,618$1,170$833$587$105
29 years$2,103$1,527$1,088$764$530$88
30 years$2,011$1,442$1,014$701$479$74
31 years$1,925$1,363$945$644$433$62
32 years$1,845$1,290$882$592$392$52
33 years$1,769$1,221$823$544$354$43
34 years$1,699$1,158$769$501$321$36
35 years$1,632$1,098$719$461$291$30
36 years$1,569$1,042$673$425$263$26
37 years$1,510$990$630$391$239$21
38 years$1,454$941$590$361$216$18
39 years$1,401$894$553$333$196$15
40 years$1,351$851$518$307$178$13
41 years$1,303$810$486$283$161$11
42 years$1,258$771$456$261$147$9
43 years$1,215$735$427$241$133$7
44 years$1,174$701$401$223$121$6
45 years$1,135$668$377$206$110$5
46 years$1,098$637$354$190$100$4
47 years$1,062$608$332$175$90$4
48 years$1,028$581$312$162$82$3
49 years$996$554$294$150$75$3
50 years$965$530$276$138$68$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $988,000, adding $6,831 every year, while hoping to spend $24,073 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: 47/34/19 Blend
62$988,000$988,000$988,000$988,000
63$1,095,822$1,043,458$1,028,144$1,141,121
64$1,181,983$1,068,974$1,036,974$1,198,899
65$1,276,124$1,094,934$1,045,292$1,258,609
66$1,379,037$1,121,333$1,053,057$1,322,910
67$1,491,587$1,148,167$1,060,223$1,392,244
68$1,614,733$1,175,431$1,066,744$1,467,093
69$1,749,526$1,203,117$1,072,570$1,547,991
70$1,897,125$1,231,218$1,077,649$1,635,525
71$2,058,808$1,259,723$1,081,926$1,730,343
72$2,235,980$1,288,624$1,085,345$1,833,157
73$2,430,190$1,317,906$1,087,843$1,944,754
74$2,643,142$1,347,556$1,089,359$2,065,999
75$2,876,715$1,377,559$1,089,825$2,197,846
76$3,132,978$1,407,898$1,089,172$2,341,348
77$3,414,209$1,438,552$1,087,327$2,497,663
78$3,722,919$1,469,501$1,084,212$2,668,068
79$4,061,871$1,500,721$1,079,748$2,853,971
80$4,434,111$1,532,186$1,073,849$3,056,925
81$4,842,995$1,563,867$1,066,427$3,278,638
82$5,292,218$1,595,734$1,057,390$3,520,997
83$5,785,852$1,627,752$1,046,640$3,786,078
84$6,328,381$1,659,885$1,034,076$4,076,173
85$6,924,749$1,692,092$1,019,590$4,393,804
86$7,580,399$1,724,330$1,003,071$4,741,756
87$8,301,328$1,756,551$984,403$5,123,093
88$9,094,146$1,788,705$963,463$5,541,198
89$9,966,133$1,820,735$940,123$5,999,797
90$10,925,311$1,852,584$914,249$6,502,996
91$11,980,518$1,884,185$885,702$7,055,323
92$13,141,492$1,915,471$854,334$7,661,769
93$14,418,962$1,946,368$819,992$8,327,835
94$15,824,751$1,976,795$782,517$9,059,583
95$17,371,885$2,006,667$741,741$9,863,698
96$19,074,716$2,035,893$697,488$10,747,546
97$20,949,060$2,064,374$649,576$11,719,248
98$23,012,341$2,092,005$597,814$12,787,754
99$25,283,761$2,118,675$542,002$13,962,930
100$27,784,477$2,144,262$481,931$15,255,650