Can I retire at age 63 with 996,000?

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 $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%13.1%
1 years$82,249$81,516$80,801$80,104$79,422$78,397
2 years$40,717$39,959$39,224$38,511$37,820$36,789
3 years$26,875$26,114$25,380$24,675$23,995$22,989
4 years$19,956$19,196$18,470$17,777$17,113$16,141
5 years$15,805$15,050$14,334$13,654$13,009$12,074
6 years$13,039$12,290$11,584$10,919$10,294$9,396
7 years$11,063$10,321$9,626$8,977$8,372$7,512
8 years$9,583$8,847$8,164$7,531$6,945$6,123
9 years$8,432$7,703$7,032$6,415$5,849$5,064
10 years$7,511$6,790$6,130$5,530$4,983$4,236
11 years$6,759$6,044$5,397$4,812$4,286$3,574
12 years$6,132$5,425$4,790$4,221$3,714$3,038
13 years$5,603$4,903$4,279$3,727$3,239$2,597
14 years$5,149$4,456$3,845$3,308$2,839$2,231
15 years$4,756$4,071$3,471$2,950$2,500$1,924
16 years$4,413$3,735$3,147$2,642$2,209$1,665
17 years$4,110$3,440$2,864$2,373$1,959$1,445
18 years$3,841$3,179$2,614$2,139$1,742$1,257
19 years$3,601$2,946$2,393$1,933$1,552$1,096
20 years$3,385$2,737$2,197$1,750$1,387$957
21 years$3,190$2,550$2,020$1,589$1,241$837
22 years$3,013$2,380$1,862$1,444$1,112$733
23 years$2,851$2,226$1,719$1,315$998$643
24 years$2,704$2,086$1,590$1,200$897$565
25 years$2,568$1,957$1,473$1,096$808$496
26 years$2,443$1,840$1,366$1,002$727$436
27 years$2,327$1,731$1,268$917$656$384
28 years$2,220$1,631$1,179$840$592$338
29 years$2,120$1,539$1,097$770$534$298
30 years$2,027$1,453$1,022$707$483$262
31 years$1,941$1,374$953$649$437$231
32 years$1,860$1,300$889$597$395$204
33 years$1,784$1,231$830$549$357$180
34 years$1,712$1,167$776$505$324$159
35 years$1,645$1,107$725$465$293$140
36 years$1,582$1,050$678$428$266$124
37 years$1,522$998$635$394$241$109
38 years$1,466$948$595$364$218$96
39 years$1,412$902$557$335$198$85
40 years$1,362$858$522$309$179$75
41 years$1,314$817$490$285$163$66
42 years$1,268$778$459$263$148$59
43 years$1,225$741$431$243$134$52
44 years$1,183$706$404$224$122$46
45 years$1,144$674$380$207$110$41
46 years$1,107$643$357$191$100$36
47 years$1,071$613$335$177$91$32
48 years$1,036$585$315$163$83$28
49 years$1,004$559$296$151$75$25
50 years$972$534$278$140$68$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $996,000, adding $3,841 every year, while hoping to spend $49,533 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: 38/43/19 Blend
62$996,000$996,000$996,000$996,000
63$1,101,554$1,048,766$1,033,328$1,137,001
64$1,161,210$1,047,453$1,015,242$1,161,589
65$1,225,290$1,044,415$994,889$1,183,167
66$1,294,195$1,039,516$972,143$1,205,458
67$1,368,361$1,032,611$946,868$1,228,555
68$1,448,270$1,023,545$918,925$1,252,562
69$1,534,450$1,012,156$888,165$1,277,598
70$1,627,483$998,270$854,437$1,303,798
71$1,728,004$981,703$817,580$1,331,315
72$1,836,717$962,263$777,424$1,360,322
73$1,954,390$939,742$733,796$1,391,014
74$2,081,872$913,923$686,512$1,423,612
75$2,220,093$884,575$635,380$1,458,365
76$2,370,077$851,454$580,200$1,495,552
77$2,532,951$814,302$520,763$1,535,486
78$2,709,954$772,844$456,850$1,578,522
79$2,902,448$726,792$388,234$1,625,054
80$3,111,933$675,840$314,675$1,675,525
81$3,340,058$619,665$235,925$1,730,433
82$3,588,640$557,924$151,724$1,790,332
83$3,859,676$490,257$61,802$1,855,843
84$4,155,365$416,282$0$1,927,659
85$4,478,127$335,595$0$2,013,479
86$4,830,626$247,769$0$2,121,062
87$5,215,797$152,356$0$2,238,890
88$5,636,866$48,880$0$2,368,101
89$6,097,390$0$0$2,509,957
90$6,601,283$0$0$2,695,743
91$7,152,854$0$0$2,924,558
92$7,756,851$0$0$3,175,258
93$8,418,499$0$0$3,450,030
94$9,143,554$0$0$3,751,282
95$9,938,355$0$0$4,081,667
96$10,809,884$0$0$4,444,104
97$11,765,830$0$0$4,841,813
98$12,814,662$0$0$5,278,337
99$13,965,711$0$0$5,757,580
100$15,229,250$0$0$6,283,843