Can I retire at age 63 with 993,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $993,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.2%
1 years$82,001$81,271$80,558$79,862$79,183$77,175
2 years$40,595$39,839$39,106$38,395$37,706$35,696
3 years$26,794$26,035$25,304$24,600$23,922$21,973
4 years$19,895$19,138$18,415$17,723$17,062$15,188
5 years$15,757$15,005$14,291$13,613$12,970$11,178
6 years$12,999$12,253$11,549$10,886$10,263$8,553
7 years$11,030$10,290$9,597$8,950$8,346$6,720
8 years$9,554$8,820$8,139$7,508$6,924$5,380
9 years$8,406$7,680$7,010$6,395$5,831$4,368
10 years$7,489$6,769$6,112$5,513$4,968$3,584
11 years$6,739$6,026$5,381$4,798$4,273$2,966
12 years$6,114$5,409$4,775$4,208$3,703$2,471
13 years$5,586$4,888$4,266$3,715$3,229$2,069
14 years$5,133$4,443$3,833$3,298$2,831$1,741
15 years$4,742$4,059$3,461$2,941$2,492$1,469
16 years$4,399$3,724$3,138$2,634$2,203$1,244
17 years$4,098$3,429$2,855$2,366$1,953$1,056
18 years$3,830$3,169$2,607$2,132$1,737$898
19 years$3,590$2,937$2,386$1,927$1,548$765
20 years$3,375$2,729$2,190$1,745$1,383$653
21 years$3,180$2,542$2,014$1,584$1,237$558
22 years$3,004$2,373$1,857$1,440$1,109$477
23 years$2,843$2,219$1,714$1,312$995$409
24 years$2,695$2,079$1,585$1,196$895$350
25 years$2,560$1,951$1,468$1,092$805$300
26 years$2,435$1,834$1,362$999$725$257
27 years$2,320$1,726$1,265$914$654$221
28 years$2,213$1,626$1,176$838$590$190
29 years$2,114$1,534$1,094$768$533$163
30 years$2,021$1,449$1,019$705$481$140
31 years$1,935$1,370$950$647$435$120
32 years$1,854$1,296$886$595$394$103
33 years$1,778$1,227$828$547$356$89
34 years$1,707$1,163$773$503$323$76
35 years$1,640$1,103$723$463$292$66
36 years$1,577$1,047$676$427$265$56
37 years$1,518$995$633$393$240$49
38 years$1,461$945$593$362$218$42
39 years$1,408$899$555$334$197$36
40 years$1,358$855$521$308$179$31
41 years$1,310$814$488$284$162$27
42 years$1,264$775$458$262$147$23
43 years$1,221$739$430$242$134$20
44 years$1,180$704$403$224$121$17
45 years$1,141$671$379$207$110$15
46 years$1,103$641$356$191$100$13
47 years$1,067$611$334$176$91$11
48 years$1,033$584$314$163$82$9
49 years$1,001$557$295$151$75$8
50 years$970$532$277$139$68$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $993,000, adding $2,553 every year, while hoping to spend $52,072 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: 64/19/17 Blend
62$993,000$993,000$993,000$993,000
63$1,096,919$1,044,290$1,028,899$1,162,334
64$1,153,401$1,040,056$1,007,963$1,202,306
65$1,213,898$1,033,870$984,580$1,239,773
66$1,278,766$1,025,580$958,614$1,279,453
67$1,348,394$1,015,027$929,921$1,321,565
68$1,423,208$1,002,041$898,351$1,366,349
69$1,503,678$986,443$863,748$1,414,072
70$1,590,317$968,043$825,948$1,465,033
71$1,683,692$946,640$784,780$1,519,557
72$1,784,422$922,019$740,064$1,578,011
73$1,893,190$893,955$691,613$1,640,797
74$2,010,746$862,208$639,232$1,708,361
75$2,137,912$826,527$582,716$1,781,198
76$2,275,594$786,642$521,852$1,859,857
77$2,424,788$742,270$456,417$1,944,943
78$2,586,587$693,113$386,179$2,037,129
79$2,762,196$638,852$310,893$2,137,157
80$2,952,938$579,154$230,306$2,245,849
81$3,160,270$513,664$144,153$2,364,117
82$3,385,792$442,009$52,156$2,492,965
83$3,631,267$363,792$0$2,633,509
84$3,898,635$278,596$0$2,795,327
85$4,190,030$185,981$0$2,982,073
86$4,507,799$85,480$0$3,185,839
87$4,854,527$0$0$3,408,350
88$5,233,061$0$0$3,656,400
89$5,646,531$0$0$3,946,930
90$6,098,385$0$0$4,264,497
91$6,592,420$0$0$4,611,777
92$7,132,814$0$0$4,991,718
93$7,724,169$0$0$5,407,564
94$8,371,553$0$0$5,862,886
95$9,080,544$0$0$6,361,619
96$9,857,289$0$0$6,908,096
97$10,708,552$0$0$7,507,088
98$11,641,788$0$0$8,163,849
99$12,665,204$0$0$8,884,168
100$13,787,842$0$0$9,674,418