Can I retire at age 63 with 992,000?

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 $992,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.8%
1 years$81,918$81,189$80,477$79,782$79,103$76,297
2 years$40,554$39,798$39,066$38,357$37,668$34,871
3 years$26,767$26,009$25,279$24,576$23,898$21,197
4 years$19,875$19,119$18,396$17,705$17,044$14,461
5 years$15,741$14,990$14,276$13,599$12,957$10,498
6 years$12,986$12,240$11,537$10,876$10,252$7,919
7 years$11,019$10,279$9,588$8,941$8,338$6,130
8 years$9,544$8,811$8,131$7,501$6,917$4,833
9 years$8,398$7,672$7,003$6,389$5,825$3,863
10 years$7,481$6,762$6,106$5,507$4,963$3,118
11 years$6,732$6,020$5,375$4,793$4,269$2,538
12 years$6,108$5,403$4,770$4,204$3,699$2,078
13 years$5,580$4,883$4,262$3,712$3,226$1,710
14 years$5,128$4,439$3,829$3,295$2,828$1,413
15 years$4,737$4,055$3,458$2,938$2,490$1,171
16 years$4,395$3,720$3,135$2,631$2,200$973
17 years$4,093$3,426$2,852$2,364$1,951$810
18 years$3,826$3,166$2,604$2,130$1,735$676
19 years$3,587$2,934$2,384$1,925$1,546$565
20 years$3,371$2,726$2,188$1,743$1,381$473
21 years$3,177$2,540$2,012$1,582$1,236$396
22 years$3,001$2,371$1,855$1,439$1,108$332
23 years$2,840$2,217$1,712$1,310$994$278
24 years$2,693$2,077$1,584$1,195$894$233
25 years$2,558$1,950$1,467$1,091$804$196
26 years$2,433$1,832$1,360$998$725$165
27 years$2,318$1,724$1,263$913$653$138
28 years$2,211$1,625$1,174$837$589$116
29 years$2,112$1,533$1,093$767$532$98
30 years$2,019$1,448$1,018$704$481$82
31 years$1,933$1,368$949$647$435$69
32 years$1,852$1,295$885$594$393$58
33 years$1,777$1,226$827$547$356$49
34 years$1,705$1,162$772$503$322$41
35 years$1,639$1,102$722$463$292$35
36 years$1,576$1,046$676$426$264$29
37 years$1,516$994$632$393$240$25
38 years$1,460$944$592$362$217$21
39 years$1,407$898$555$334$197$17
40 years$1,356$854$520$308$179$15
41 years$1,308$813$488$284$162$12
42 years$1,263$775$457$262$147$10
43 years$1,220$738$429$242$134$9
44 years$1,179$703$403$224$121$7
45 years$1,139$671$378$206$110$6
46 years$1,102$640$355$191$100$5
47 years$1,066$611$334$176$91$4
48 years$1,032$583$314$163$82$4
49 years$1,000$557$295$150$75$3
50 years$969$532$277$139$68$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $992,000, adding $2,273 every year, while hoping to spend $46,274 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: 54/35/11 Blend
62$992,000$992,000$992,000$992,000
63$1,095,529$1,042,953$1,027,577$1,151,489
64$1,158,037$1,044,822$1,012,765$1,191,605
65$1,225,371$1,045,232$995,907$1,230,026
66$1,297,973$1,044,063$976,884$1,270,759
67$1,376,330$1,041,186$955,573$1,314,035
68$1,460,978$1,036,466$931,847$1,360,106
69$1,552,504$1,029,759$905,570$1,409,254
70$1,651,554$1,020,912$876,602$1,461,793
71$1,758,840$1,009,764$844,795$1,518,069
72$1,875,141$996,142$809,995$1,578,467
73$2,001,318$979,865$772,043$1,643,413
74$2,138,315$960,741$730,768$1,713,378
75$2,287,170$938,564$685,996$1,788,888
76$2,449,027$913,120$637,543$1,870,521
77$2,625,143$884,178$585,216$1,958,920
78$2,816,903$851,498$528,815$2,054,798
79$3,025,827$814,821$468,131$2,158,942
80$3,253,592$773,878$402,944$2,272,225
81$3,502,042$728,382$333,026$2,395,613
82$3,773,206$678,028$258,138$2,530,176
83$4,069,318$622,497$178,031$2,677,097
84$4,392,838$561,449$92,445$2,837,686
85$4,746,474$494,526$1,108$3,013,392
86$5,133,205$421,349$0$3,205,817
87$5,556,315$341,518$0$3,428,045
88$6,019,417$254,610$0$3,671,600
89$6,526,490$160,179$0$3,938,555
90$7,081,917$57,753$0$4,231,346
91$7,690,525$0$0$4,552,661
92$8,357,627$0$0$4,925,947
93$9,089,078$0$0$5,359,722
94$9,891,324$0$0$5,835,579
95$10,771,467$0$0$6,357,742
96$11,737,328$0$0$6,930,864
97$12,797,523$0$0$7,560,071
98$13,961,542$0$0$8,251,008
99$15,239,839$0$0$9,009,894
100$16,643,930$0$0$9,843,581