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%12.5%
1 years$82,249$81,516$80,801$80,104$79,422$78,593
2 years$40,717$39,959$39,224$38,511$37,820$36,985
3 years$26,875$26,114$25,380$24,675$23,995$23,180
4 years$19,956$19,196$18,470$17,777$17,113$16,324
5 years$15,805$15,050$14,334$13,654$13,009$12,249
6 years$13,039$12,290$11,584$10,919$10,294$9,563
7 years$11,063$10,321$9,626$8,977$8,372$7,671
8 years$9,583$8,847$8,164$7,531$6,945$6,274
9 years$8,432$7,703$7,032$6,415$5,849$5,208
10 years$7,511$6,790$6,130$5,530$4,983$4,371
11 years$6,759$6,044$5,397$4,812$4,286$3,703
12 years$6,132$5,425$4,790$4,221$3,714$3,159
13 years$5,603$4,903$4,279$3,727$3,239$2,711
14 years$5,149$4,456$3,845$3,308$2,839$2,338
15 years$4,756$4,071$3,471$2,950$2,500$2,025
16 years$4,413$3,735$3,147$2,642$2,209$1,760
17 years$4,110$3,440$2,864$2,373$1,959$1,534
18 years$3,841$3,179$2,614$2,139$1,742$1,340
19 years$3,601$2,946$2,393$1,933$1,552$1,173
20 years$3,385$2,737$2,197$1,750$1,387$1,029
21 years$3,190$2,550$2,020$1,589$1,241$904
22 years$3,013$2,380$1,862$1,444$1,112$796
23 years$2,851$2,226$1,719$1,315$998$701
24 years$2,704$2,086$1,590$1,200$897$618
25 years$2,568$1,957$1,473$1,096$808$546
26 years$2,443$1,840$1,366$1,002$727$482
27 years$2,327$1,731$1,268$917$656$426
28 years$2,220$1,631$1,179$840$592$377
29 years$2,120$1,539$1,097$770$534$334
30 years$2,027$1,453$1,022$707$483$296
31 years$1,941$1,374$953$649$437$262
32 years$1,860$1,300$889$597$395$232
33 years$1,784$1,231$830$549$357$206
34 years$1,712$1,167$776$505$324$182
35 years$1,645$1,107$725$465$293$162
36 years$1,582$1,050$678$428$266$144
37 years$1,522$998$635$394$241$127
38 years$1,466$948$595$364$218$113
39 years$1,412$902$557$335$198$100
40 years$1,362$858$522$309$179$89
41 years$1,314$817$490$285$163$79
42 years$1,268$778$459$263$148$70
43 years$1,225$741$431$243$134$62
44 years$1,183$706$404$224$122$55
45 years$1,144$674$380$207$110$49
46 years$1,107$643$357$191$100$44
47 years$1,071$613$335$177$91$39
48 years$1,036$585$315$163$83$35
49 years$1,004$559$296$151$75$31
50 years$972$534$278$140$68$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $996,000, adding $2,710 every year, while hoping to spend $22,532 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: 31/43/26 Blend
62$996,000$996,000$996,000$996,000
63$1,100,387$1,047,599$1,032,161$1,125,635
64$1,188,653$1,074,958$1,042,765$1,172,622
65$1,285,167$1,102,902$1,052,968$1,220,986
66$1,390,746$1,131,436$1,062,735$1,272,597
67$1,506,290$1,160,565$1,072,025$1,327,754
68$1,632,791$1,190,292$1,080,798$1,386,787
69$1,771,341$1,220,621$1,089,009$1,450,058
70$1,923,140$1,251,554$1,096,614$1,517,966
71$2,089,514$1,283,094$1,103,563$1,590,952
72$2,271,919$1,315,241$1,109,808$1,669,502
73$2,471,962$1,347,994$1,115,294$1,754,148
74$2,691,411$1,381,355$1,119,965$1,845,481
75$2,932,214$1,415,320$1,123,763$1,944,148
76$3,196,517$1,449,888$1,126,625$2,050,866
77$3,486,683$1,485,054$1,128,489$2,166,423
78$3,805,316$1,520,812$1,129,284$2,291,687
79$4,155,283$1,557,157$1,128,940$2,427,616
80$4,539,745$1,594,081$1,127,382$2,575,266
81$4,962,181$1,631,573$1,124,532$2,735,801
82$5,426,426$1,669,623$1,120,307$2,910,503
83$5,936,705$1,708,218$1,114,620$3,100,786
84$6,497,670$1,747,342$1,107,382$3,308,209
85$7,114,450$1,786,979$1,098,496$3,534,492
86$7,792,693$1,827,110$1,087,865$3,781,527
87$8,538,623$1,867,714$1,075,384$4,051,404
88$9,359,097$1,908,766$1,060,943$4,346,426
89$10,261,669$1,950,239$1,044,429$4,669,130
90$11,254,663$1,992,106$1,025,722$5,022,316
91$12,347,252$2,034,332$1,004,696$5,409,067
92$13,549,540$2,076,882$981,222$5,832,785
93$14,872,662$2,119,718$955,162$6,297,220
94$16,328,886$2,162,797$926,372$6,806,505
95$17,931,730$2,206,072$894,703$7,365,196
96$19,696,089$2,249,492$859,998$7,978,317
97$21,638,375$2,293,002$822,093$8,651,407
98$23,776,673$2,336,542$780,817$9,390,570
99$26,130,909$2,380,049$735,990$10,202,536
100$28,723,042$2,423,451$687,425$11,094,725