Can I retire at age 63 with 996,000?

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 $996,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.7%
1 years$82,249$81,516$80,801$80,104$79,422$76,635
2 years$40,717$39,959$39,224$38,511$37,820$35,041
3 years$26,875$26,114$25,380$24,675$23,995$21,311
4 years$19,956$19,196$18,470$17,777$17,113$14,546
5 years$15,805$15,050$14,334$13,654$13,009$10,565
6 years$13,039$12,290$11,584$10,919$10,294$7,974
7 years$11,063$10,321$9,626$8,977$8,372$6,177
8 years$9,583$8,847$8,164$7,531$6,945$4,873
9 years$8,432$7,703$7,032$6,415$5,849$3,896
10 years$7,511$6,790$6,130$5,530$4,983$3,148
11 years$6,759$6,044$5,397$4,812$4,286$2,563
12 years$6,132$5,425$4,790$4,221$3,714$2,100
13 years$5,603$4,903$4,279$3,727$3,239$1,729
14 years$5,149$4,456$3,845$3,308$2,839$1,430
15 years$4,756$4,071$3,471$2,950$2,500$1,186
16 years$4,413$3,735$3,147$2,642$2,209$986
17 years$4,110$3,440$2,864$2,373$1,959$822
18 years$3,841$3,179$2,614$2,139$1,742$686
19 years$3,601$2,946$2,393$1,933$1,552$574
20 years$3,385$2,737$2,197$1,750$1,387$480
21 years$3,190$2,550$2,020$1,589$1,241$403
22 years$3,013$2,380$1,862$1,444$1,112$338
23 years$2,851$2,226$1,719$1,315$998$283
24 years$2,704$2,086$1,590$1,200$897$238
25 years$2,568$1,957$1,473$1,096$808$200
26 years$2,443$1,840$1,366$1,002$727$168
27 years$2,327$1,731$1,268$917$656$141
28 years$2,220$1,631$1,179$840$592$119
29 years$2,120$1,539$1,097$770$534$100
30 years$2,027$1,453$1,022$707$483$84
31 years$1,941$1,374$953$649$437$71
32 years$1,860$1,300$889$597$395$60
33 years$1,784$1,231$830$549$357$50
34 years$1,712$1,167$776$505$324$42
35 years$1,645$1,107$725$465$293$36
36 years$1,582$1,050$678$428$266$30
37 years$1,522$998$635$394$241$25
38 years$1,466$948$595$364$218$21
39 years$1,412$902$557$335$198$18
40 years$1,362$858$522$309$179$15
41 years$1,314$817$490$285$163$13
42 years$1,268$778$459$263$148$11
43 years$1,225$741$431$243$134$9
44 years$1,183$706$404$224$122$8
45 years$1,144$674$380$207$110$6
46 years$1,107$643$357$191$100$5
47 years$1,071$613$335$177$91$5
48 years$1,036$585$315$163$83$4
49 years$1,004$559$296$151$75$3
50 years$972$534$278$140$68$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $996,000, adding $2,381 every year, while hoping to spend $39,950 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: 63/23/14 Blend
62$996,000$996,000$996,000$996,000
63$1,100,048$1,047,260$1,031,822$1,165,489
64$1,169,746$1,056,069$1,023,882$1,218,461
65$1,245,215$1,063,971$1,014,336$1,271,489
66$1,327,000$1,070,879$1,003,090$1,328,420
67$1,415,703$1,076,701$990,042$1,389,633
68$1,511,984$1,081,339$975,088$1,455,551
69$1,616,570$1,084,688$958,117$1,526,634
70$1,730,260$1,086,637$939,014$1,603,397
71$1,853,934$1,087,070$917,658$1,686,402
72$1,988,559$1,085,860$893,923$1,776,274
73$2,135,199$1,082,874$867,677$1,873,700
74$2,295,027$1,077,973$838,781$1,979,441
75$2,469,331$1,071,005$807,092$2,094,334
76$2,659,531$1,061,812$772,458$2,219,304
77$2,867,189$1,050,227$734,721$2,355,373
78$3,094,024$1,036,070$693,716$2,503,667
79$3,341,930$1,019,152$649,270$2,665,431
80$3,612,989$999,273$601,203$2,842,037
81$3,909,497$976,221$549,327$3,035,000
82$4,233,981$949,771$493,444$3,245,990
83$4,589,222$919,684$433,350$3,476,854
84$4,978,284$885,710$368,828$3,729,625
85$5,404,541$847,582$299,656$4,006,550
86$5,871,707$805,017$225,597$4,310,106
87$6,383,876$757,717$146,409$4,643,027
88$6,945,553$705,367$61,836$5,008,328
89$7,561,703$647,633$0$5,409,338
90$8,237,792$584,163$0$5,853,973
91$8,979,844$514,584$0$6,352,169
92$9,794,492$438,502$0$6,899,191
93$10,689,043$355,502$0$7,500,010
94$11,671,547$265,143$0$8,160,111
95$12,750,871$166,961$0$8,885,535
96$13,936,784$60,467$0$9,682,948
97$15,240,048$0$0$10,559,694
98$16,672,519$0$0$11,537,759
99$18,247,259$0$0$12,629,863
100$19,978,658$0$0$13,830,691