Can I retire at age 63 with 993,000?

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 $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%11.5%
1 years$82,001$81,271$80,558$79,862$79,183$78,684
2 years$40,595$39,839$39,106$38,395$37,706$37,203
3 years$26,794$26,035$25,304$24,600$23,922$23,430
4 years$19,895$19,138$18,415$17,723$17,062$16,585
5 years$15,757$15,005$14,291$13,613$12,970$12,509
6 years$12,999$12,253$11,549$10,886$10,263$9,819
7 years$11,030$10,290$9,597$8,950$8,346$7,920
8 years$9,554$8,820$8,139$7,508$6,924$6,515
9 years$8,406$7,680$7,010$6,395$5,831$5,439
10 years$7,489$6,769$6,112$5,513$4,968$4,593
11 years$6,739$6,026$5,381$4,798$4,273$3,915
12 years$6,114$5,409$4,775$4,208$3,703$3,361
13 years$5,586$4,888$4,266$3,715$3,229$2,903
14 years$5,133$4,443$3,833$3,298$2,831$2,520
15 years$4,742$4,059$3,461$2,941$2,492$2,197
16 years$4,399$3,724$3,138$2,634$2,203$1,922
17 years$4,098$3,429$2,855$2,366$1,953$1,687
18 years$3,830$3,169$2,607$2,132$1,737$1,485
19 years$3,590$2,937$2,386$1,927$1,548$1,309
20 years$3,375$2,729$2,190$1,745$1,383$1,157
21 years$3,180$2,542$2,014$1,584$1,237$1,024
22 years$3,004$2,373$1,857$1,440$1,109$908
23 years$2,843$2,219$1,714$1,312$995$806
24 years$2,695$2,079$1,585$1,196$895$716
25 years$2,560$1,951$1,468$1,092$805$637
26 years$2,435$1,834$1,362$999$725$567
27 years$2,320$1,726$1,265$914$654$506
28 years$2,213$1,626$1,176$838$590$451
29 years$2,114$1,534$1,094$768$533$402
30 years$2,021$1,449$1,019$705$481$359
31 years$1,935$1,370$950$647$435$321
32 years$1,854$1,296$886$595$394$287
33 years$1,778$1,227$828$547$356$256
34 years$1,707$1,163$773$503$323$229
35 years$1,640$1,103$723$463$292$205
36 years$1,577$1,047$676$427$265$183
37 years$1,518$995$633$393$240$164
38 years$1,461$945$593$362$218$147
39 years$1,408$899$555$334$197$132
40 years$1,358$855$521$308$179$118
41 years$1,310$814$488$284$162$106
42 years$1,264$775$458$262$147$95
43 years$1,221$739$430$242$134$85
44 years$1,180$704$403$224$121$76
45 years$1,141$671$379$207$110$68
46 years$1,103$641$356$191$100$61
47 years$1,067$611$334$176$91$55
48 years$1,033$584$314$163$82$49
49 years$1,001$557$295$151$75$44
50 years$970$532$277$139$68$39

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $993,000, adding $3,604 every year, while hoping to spend $26,685 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: 80/8/12 Blend
62$993,000$993,000$993,000$993,000
63$1,098,004$1,045,375$1,029,983$1,183,133
64$1,181,607$1,068,205$1,036,095$1,262,387
65$1,272,844$1,091,260$1,041,517$1,345,509
66$1,372,465$1,114,523$1,046,198$1,435,950
67$1,481,295$1,137,973$1,050,085$1,534,430
68$1,600,244$1,161,591$1,053,120$1,641,742
69$1,730,314$1,185,354$1,055,244$1,758,760
70$1,872,607$1,209,236$1,056,395$1,886,445
71$2,028,336$1,233,212$1,056,508$2,025,859
72$2,198,838$1,257,251$1,055,513$2,178,167
73$2,385,585$1,281,322$1,053,338$2,344,656
74$2,590,198$1,305,390$1,049,908$2,526,743
75$2,814,462$1,329,418$1,045,144$2,725,989
76$3,060,342$1,353,366$1,038,962$2,944,113
77$3,330,006$1,377,189$1,031,275$3,183,010
78$3,625,836$1,400,841$1,021,992$3,444,767
79$3,950,460$1,424,271$1,011,018$3,731,685
80$4,306,772$1,447,425$998,252$4,046,297
81$4,697,958$1,470,245$983,589$4,391,395
82$5,127,531$1,492,667$966,920$4,770,056
83$5,599,356$1,514,625$948,130$5,185,670
84$6,117,696$1,536,047$927,097$5,641,972
85$6,687,243$1,556,856$903,697$6,143,078
86$7,313,169$1,576,969$877,798$6,693,523
87$8,001,170$1,596,298$849,262$7,298,306
88$8,757,521$1,614,748$817,944$7,962,933
89$9,589,138$1,632,220$783,695$8,693,474
90$10,503,637$1,648,607$746,356$9,496,615
91$11,509,413$1,663,793$705,763$10,379,726
92$12,615,711$1,677,657$661,745$11,350,928
93$13,832,720$1,690,069$614,120$12,419,169
94$15,171,666$1,700,890$562,701$13,594,312
95$16,644,916$1,709,975$507,292$14,887,223
96$18,266,099$1,717,165$447,688$16,309,878
97$20,050,230$1,722,294$383,674$17,875,475
98$22,013,853$1,725,186$315,026$19,598,557
99$24,175,198$1,725,653$241,512$21,495,151
100$26,554,352$1,723,494$162,887$23,582,918