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%18.1%
1 years$82,249$81,516$80,801$80,104$79,422$76,819
2 years$40,717$39,959$39,224$38,511$37,820$35,222
3 years$26,875$26,114$25,380$24,675$23,995$21,483
4 years$19,956$19,196$18,470$17,777$17,113$14,708
5 years$15,805$15,050$14,334$13,654$13,009$10,716
6 years$13,039$12,290$11,584$10,919$10,294$8,115
7 years$11,063$10,321$9,626$8,977$8,372$6,307
8 years$9,583$8,847$8,164$7,531$6,945$4,994
9 years$8,432$7,703$7,032$6,415$5,849$4,008
10 years$7,511$6,790$6,130$5,530$4,983$3,250
11 years$6,759$6,044$5,397$4,812$4,286$2,657
12 years$6,132$5,425$4,790$4,221$3,714$2,185
13 years$5,603$4,903$4,279$3,727$3,239$1,807
14 years$5,149$4,456$3,845$3,308$2,839$1,500
15 years$4,756$4,071$3,471$2,950$2,500$1,250
16 years$4,413$3,735$3,147$2,642$2,209$1,044
17 years$4,110$3,440$2,864$2,373$1,959$874
18 years$3,841$3,179$2,614$2,139$1,742$733
19 years$3,601$2,946$2,393$1,933$1,552$615
20 years$3,385$2,737$2,197$1,750$1,387$518
21 years$3,190$2,550$2,020$1,589$1,241$436
22 years$3,013$2,380$1,862$1,444$1,112$367
23 years$2,851$2,226$1,719$1,315$998$310
24 years$2,704$2,086$1,590$1,200$897$261
25 years$2,568$1,957$1,473$1,096$808$221
26 years$2,443$1,840$1,366$1,002$727$186
27 years$2,327$1,731$1,268$917$656$158
28 years$2,220$1,631$1,179$840$592$133
29 years$2,120$1,539$1,097$770$534$113
30 years$2,027$1,453$1,022$707$483$95
31 years$1,941$1,374$953$649$437$81
32 years$1,860$1,300$889$597$395$68
33 years$1,784$1,231$830$549$357$58
34 years$1,712$1,167$776$505$324$49
35 years$1,645$1,107$725$465$293$41
36 years$1,582$1,050$678$428$266$35
37 years$1,522$998$635$394$241$30
38 years$1,466$948$595$364$218$25
39 years$1,412$902$557$335$198$21
40 years$1,362$858$522$309$179$18
41 years$1,314$817$490$285$163$15
42 years$1,268$778$459$263$148$13
43 years$1,225$741$431$243$134$11
44 years$1,183$706$404$224$122$9
45 years$1,144$674$380$207$110$8
46 years$1,107$643$357$191$100$7
47 years$1,071$613$335$177$91$6
48 years$1,036$585$315$163$83$5
49 years$1,004$559$296$151$75$4
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 $2,293 every year, while hoping to spend $32,298 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: 35/44/21 Blend
62$996,000$996,000$996,000$996,000
63$1,099,957$1,047,169$1,031,731$1,131,355
64$1,177,788$1,064,116$1,031,929$1,171,600
65$1,262,475$1,080,810$1,031,052$1,211,849
66$1,354,684$1,097,206$1,029,028$1,254,614
67$1,455,146$1,113,253$1,025,785$1,300,139
68$1,564,667$1,128,899$1,021,245$1,348,694
69$1,684,134$1,144,086$1,015,327$1,400,576
70$1,814,522$1,158,753$1,007,948$1,456,116
71$1,956,906$1,172,835$999,017$1,515,679
72$2,112,469$1,186,261$988,442$1,579,668
73$2,282,511$1,198,959$976,125$1,648,530
74$2,468,467$1,210,847$961,965$1,722,759
75$2,671,914$1,221,842$945,854$1,802,902
76$2,894,590$1,231,853$927,681$1,889,562
77$3,138,408$1,240,784$907,329$1,983,409
78$3,405,476$1,248,533$884,674$2,085,181
79$3,698,114$1,254,990$859,590$2,195,695
80$4,018,877$1,260,040$831,942$2,315,855
81$4,370,580$1,263,560$801,590$2,446,658
82$4,756,322$1,265,418$768,386$2,589,208
83$5,179,519$1,265,475$732,179$2,744,725
84$5,643,930$1,263,584$692,807$2,914,555
85$6,153,699$1,259,587$650,104$3,100,189
86$6,713,387$1,253,318$603,893$3,303,272
87$7,328,022$1,244,600$553,993$3,525,621
88$8,003,141$1,233,246$500,213$3,769,243
89$8,744,843$1,219,056$442,352$4,036,357
90$9,559,848$1,201,821$380,202$4,329,412
91$10,455,560$1,181,318$313,545$4,651,113
92$11,440,133$1,157,308$242,155$5,004,448
93$12,522,552$1,129,542$165,793$5,392,714
94$13,712,718$1,097,755$84,213$5,819,555
95$15,021,536$1,061,666$0$6,288,990
96$16,461,022$1,020,977$0$6,806,098
97$18,044,415$975,374$0$7,395,318
98$19,786,302$924,524$0$8,043,233
99$21,702,754$868,075$0$8,755,879
100$23,811,479$805,654$0$9,539,914