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%15.8%
1 years$81,671$80,943$80,233$79,541$78,864$76,989
2 years$40,431$39,678$38,948$38,241$37,554$35,676
3 years$26,686$25,930$25,202$24,501$23,826$22,003
4 years$19,815$19,061$18,341$17,652$16,993$15,240
5 years$15,694$14,944$14,233$13,558$12,918$11,239
6 years$12,947$12,203$11,502$10,843$10,221$8,619
7 years$10,986$10,248$9,559$8,914$8,313$6,787
8 years$9,515$8,785$8,106$7,478$6,896$5,446
9 years$8,373$7,649$6,982$6,370$5,808$4,432
10 years$7,459$6,742$6,087$5,491$4,948$3,646
11 years$6,712$6,002$5,359$4,779$4,256$3,025
12 years$6,089$5,387$4,756$4,191$3,688$2,527
13 years$5,563$4,868$4,249$3,700$3,216$2,122
14 years$5,113$4,425$3,818$3,285$2,819$1,790
15 years$4,723$4,042$3,447$2,929$2,482$1,515
16 years$4,382$3,709$3,125$2,623$2,194$1,287
17 years$4,081$3,416$2,844$2,357$1,945$1,095
18 years$3,814$3,156$2,596$2,124$1,730$934
19 years$3,576$2,925$2,377$1,919$1,542$798
20 years$3,361$2,718$2,181$1,738$1,377$683
21 years$3,168$2,532$2,006$1,577$1,232$586
22 years$2,992$2,363$1,849$1,434$1,104$502
23 years$2,831$2,210$1,707$1,306$991$431
24 years$2,685$2,071$1,579$1,191$891$371
25 years$2,550$1,944$1,462$1,088$802$319
26 years$2,426$1,827$1,356$995$722$274
27 years$2,311$1,719$1,259$911$651$236
28 years$2,204$1,620$1,171$834$588$203
29 years$2,105$1,528$1,090$765$531$175
30 years$2,013$1,443$1,015$702$479$151
31 years$1,927$1,364$946$645$433$130
32 years$1,847$1,291$883$593$392$112
33 years$1,771$1,223$824$545$355$97
34 years$1,700$1,159$770$501$321$84
35 years$1,634$1,099$720$462$291$72
36 years$1,571$1,043$674$425$264$62
37 years$1,511$991$630$392$239$54
38 years$1,455$942$590$361$217$46
39 years$1,402$895$553$333$196$40
40 years$1,352$852$518$307$178$35
41 years$1,304$811$486$283$162$30
42 years$1,259$772$456$261$147$26
43 years$1,216$736$428$241$133$22
44 years$1,175$701$402$223$121$19
45 years$1,136$669$377$206$110$17
46 years$1,099$638$354$190$100$14
47 years$1,063$609$333$176$90$12
48 years$1,029$581$313$162$82$11
49 years$997$555$294$150$75$9
50 years$966$530$276$139$68$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $989,000, adding $4,004 every year, while hoping to spend $28,239 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: 55/26/19 Blend
62$989,000$989,000$989,000$989,000
63$1,094,008$1,041,591$1,026,262$1,148,373
64$1,175,551$1,062,583$1,030,595$1,206,943
65$1,264,465$1,083,657$1,034,128$1,267,346
66$1,361,471$1,104,787$1,036,802$1,332,503
67$1,467,365$1,125,946$1,038,559$1,402,877
68$1,583,022$1,147,103$1,039,336$1,478,978
69$1,709,404$1,168,225$1,039,068$1,561,367
70$1,847,572$1,189,277$1,037,686$1,650,664
71$1,998,694$1,210,220$1,035,117$1,747,552
72$2,164,053$1,231,014$1,031,286$1,852,784
73$2,345,066$1,251,613$1,026,114$1,967,190
74$2,543,292$1,271,971$1,019,518$2,091,685
75$2,760,446$1,292,036$1,011,410$2,227,280
76$2,998,418$1,311,752$1,001,699$2,375,085
77$3,259,290$1,331,062$990,289$2,536,329
78$3,545,355$1,349,901$977,081$2,712,364
79$3,859,137$1,368,202$961,969$2,904,682
80$4,203,418$1,385,893$944,844$3,114,926
81$4,581,261$1,402,897$925,591$3,344,911
82$4,996,041$1,419,129$904,090$3,596,634
83$5,451,474$1,434,504$880,213$3,872,302
84$5,951,655$1,448,925$853,831$4,174,342
85$6,501,095$1,462,294$824,806$4,505,437
86$7,104,763$1,474,501$792,992$4,868,539
87$7,768,131$1,485,435$758,241$5,266,905
88$8,497,232$1,494,973$720,393$5,704,128
89$9,298,709$1,502,986$679,286$6,184,167
90$10,179,882$1,509,337$634,746$6,711,386
91$11,148,814$1,513,879$586,595$7,290,599
92$12,214,391$1,516,456$534,643$7,927,111
93$13,386,402$1,516,905$478,696$8,626,772
94$14,675,630$1,515,049$418,548$9,396,032
95$16,093,961$1,510,703$353,986$10,241,999
96$17,654,485$1,503,668$284,785$11,172,512
97$19,371,630$1,493,735$210,712$12,196,211
98$21,261,290$1,480,681$131,525$13,322,622
99$23,340,978$1,464,271$46,968$14,562,245
100$25,629,992$1,444,255$0$15,926,658