Can I retire at age 63 with 989,000?

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 $989,000?

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$81,671$80,943$80,233$79,541$78,864$77,335
2 years$40,431$39,678$38,948$38,241$37,554$36,020
3 years$26,686$25,930$25,202$24,501$23,826$22,334
4 years$19,815$19,061$18,341$17,652$16,993$15,555
5 years$15,694$14,944$14,233$13,558$12,918$11,538
6 years$12,947$12,203$11,502$10,843$10,221$8,902
7 years$10,986$10,248$9,559$8,914$8,313$7,053
8 years$9,515$8,785$8,106$7,478$6,896$5,696
9 years$8,373$7,649$6,982$6,370$5,808$4,667
10 years$7,459$6,742$6,087$5,491$4,948$3,865
11 years$6,712$6,002$5,359$4,779$4,256$3,229
12 years$6,089$5,387$4,756$4,191$3,688$2,716
13 years$5,563$4,868$4,249$3,700$3,216$2,298
14 years$5,113$4,425$3,818$3,285$2,819$1,953
15 years$4,723$4,042$3,447$2,929$2,482$1,666
16 years$4,382$3,709$3,125$2,623$2,194$1,426
17 years$4,081$3,416$2,844$2,357$1,945$1,223
18 years$3,814$3,156$2,596$2,124$1,730$1,052
19 years$3,576$2,925$2,377$1,919$1,542$906
20 years$3,361$2,718$2,181$1,738$1,377$782
21 years$3,168$2,532$2,006$1,577$1,232$676
22 years$2,992$2,363$1,849$1,434$1,104$585
23 years$2,831$2,210$1,707$1,306$991$507
24 years$2,685$2,071$1,579$1,191$891$439
25 years$2,550$1,944$1,462$1,088$802$381
26 years$2,426$1,827$1,356$995$722$331
27 years$2,311$1,719$1,259$911$651$287
28 years$2,204$1,620$1,171$834$588$250
29 years$2,105$1,528$1,090$765$531$217
30 years$2,013$1,443$1,015$702$479$189
31 years$1,927$1,364$946$645$433$164
32 years$1,847$1,291$883$593$392$143
33 years$1,771$1,223$824$545$355$124
34 years$1,700$1,159$770$501$321$108
35 years$1,634$1,099$720$462$291$94
36 years$1,571$1,043$674$425$264$82
37 years$1,511$991$630$392$239$72
38 years$1,455$942$590$361$217$62
39 years$1,402$895$553$333$196$54
40 years$1,352$852$518$307$178$47
41 years$1,304$811$486$283$162$41
42 years$1,259$772$456$261$147$36
43 years$1,216$736$428$241$133$31
44 years$1,175$701$402$223$121$27
45 years$1,136$669$377$206$110$24
46 years$1,099$638$354$190$100$21
47 years$1,063$609$333$176$90$18
48 years$1,029$581$313$162$82$16
49 years$997$555$294$150$75$14
50 years$966$530$276$139$68$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $989,000, adding $4,156 every year, while hoping to spend $46,532 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: 66/20/14 Blend
62$989,000$989,000$989,000$989,000
63$1,094,165$1,041,748$1,026,418$1,162,529
64$1,156,260$1,043,284$1,011,294$1,210,226
65$1,223,129$1,043,336$994,103$1,256,513
66$1,295,211$1,041,781$974,727$1,305,941
67$1,372,985$1,038,491$953,043$1,358,816
68$1,456,980$1,033,328$928,922$1,415,474
69$1,547,778$1,026,147$902,226$1,476,288
70$1,646,016$1,016,792$872,815$1,541,670
71$1,752,395$1,005,101$840,540$1,612,072
72$1,867,688$990,899$805,246$1,687,999
73$1,992,741$974,003$766,772$1,770,005
74$2,128,489$954,217$724,946$1,858,703
75$2,275,956$931,334$679,593$1,954,769
76$2,436,270$905,137$630,527$2,058,954
77$2,610,675$875,394$577,554$2,172,082
78$2,800,534$841,859$520,473$2,295,067
79$3,007,352$804,273$459,072$2,428,917
80$3,232,782$762,363$393,131$2,574,746
81$3,478,644$715,837$322,419$2,733,783
82$3,746,942$664,389$246,696$2,907,388
83$4,039,881$607,694$165,711$3,097,058
84$4,359,888$545,410$79,202$3,304,452
85$4,709,635$477,175$0$3,531,396
86$5,092,066$402,604$0$3,781,869
87$5,510,419$321,295$0$4,068,893
88$5,968,262$232,818$0$4,383,128
89$6,469,522$136,723$0$4,727,337
90$7,018,523$32,533$0$5,104,565
91$7,620,030$0$0$5,518,170
92$8,279,288$0$0$5,989,519
93$9,002,073$0$0$6,514,202
94$9,794,749$0$0$7,089,686
95$10,664,323$0$0$7,721,066
96$11,618,515$0$0$8,413,957
97$12,665,828$0$0$9,174,541
98$13,815,626$0$0$10,009,628
99$15,078,226$0$0$10,926,723
100$16,464,995$0$0$11,934,088