Can I retire at age 63 with 997,000?

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 $997,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$82,331$81,598$80,882$80,184$79,502$77,455
2 years$40,758$39,999$39,263$38,550$37,858$35,809
3 years$26,902$26,140$25,406$24,699$24,019$22,032
4 years$19,976$19,216$18,489$17,795$17,130$15,221
5 years$15,821$15,065$14,348$13,668$13,022$11,196
6 years$13,052$12,302$11,596$10,930$10,304$8,563
7 years$11,075$10,331$9,636$8,986$8,380$6,723
8 years$9,592$8,856$8,172$7,538$6,952$5,380
9 years$8,440$7,710$7,039$6,421$5,855$4,365
10 years$7,519$6,796$6,136$5,535$4,988$3,580
11 years$6,766$6,050$5,402$4,817$4,290$2,960
12 years$6,139$5,431$4,794$4,225$3,718$2,464
13 years$5,608$4,908$4,284$3,730$3,242$2,063
14 years$5,154$4,461$3,849$3,311$2,842$1,734
15 years$4,761$4,075$3,475$2,953$2,502$1,463
16 years$4,417$3,739$3,151$2,644$2,211$1,238
17 years$4,114$3,443$2,867$2,376$1,961$1,050
18 years$3,845$3,182$2,617$2,141$1,744$892
19 years$3,605$2,949$2,396$1,935$1,554$760
20 years$3,388$2,740$2,199$1,752$1,388$648
21 years$3,193$2,552$2,022$1,590$1,242$553
22 years$3,016$2,383$1,864$1,446$1,113$473
23 years$2,854$2,228$1,721$1,317$999$404
24 years$2,706$2,088$1,592$1,201$898$346
25 years$2,570$1,959$1,474$1,097$808$296
26 years$2,445$1,841$1,367$1,003$728$254
27 years$2,329$1,733$1,270$918$657$218
28 years$2,222$1,633$1,180$841$592$187
29 years$2,122$1,541$1,098$771$535$160
30 years$2,029$1,455$1,023$708$483$138
31 years$1,943$1,375$954$650$437$118
32 years$1,862$1,301$890$597$395$101
33 years$1,785$1,232$831$549$358$87
34 years$1,714$1,168$776$505$324$75
35 years$1,647$1,108$726$465$293$64
36 years$1,583$1,052$679$429$266$55
37 years$1,524$999$636$395$241$47
38 years$1,467$949$595$364$218$41
39 years$1,414$903$558$336$198$35
40 years$1,363$859$523$310$180$30
41 years$1,315$817$490$286$163$26
42 years$1,269$778$460$264$148$22
43 years$1,226$742$431$243$134$19
44 years$1,185$707$405$225$122$16
45 years$1,145$674$380$207$111$14
46 years$1,108$643$357$192$100$12
47 years$1,072$614$335$177$91$10
48 years$1,038$586$315$164$83$9
49 years$1,005$560$296$151$75$8
50 years$973$534$279$140$68$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $997,000, adding $6,655 every year, while hoping to spend $33,482 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: 50/38/12 Blend
62$997,000$997,000$997,000$997,000
63$1,105,559$1,052,718$1,037,264$1,156,933
64$1,182,701$1,068,676$1,036,388$1,208,820
65$1,266,590$1,084,295$1,034,360$1,261,100
66$1,357,878$1,099,521$1,031,107$1,317,151
67$1,457,283$1,114,299$1,026,551$1,377,337
68$1,565,596$1,128,570$1,020,610$1,442,060
69$1,683,686$1,142,269$1,013,200$1,511,763
70$1,812,512$1,155,330$1,004,232$1,586,936
71$1,953,126$1,167,679$993,611$1,668,119
72$2,106,688$1,179,238$981,241$1,755,909
73$2,274,475$1,189,926$967,018$1,850,962
74$2,457,893$1,199,654$950,834$1,954,005
75$2,658,490$1,208,329$932,579$2,065,840
76$2,877,969$1,215,850$912,133$2,187,352
77$3,118,207$1,222,112$889,375$2,319,516
78$3,381,269$1,227,001$864,174$2,463,411
79$3,669,432$1,230,397$836,397$2,620,225
80$3,985,200$1,232,173$805,903$2,791,271
81$4,331,334$1,232,192$772,544$2,977,997
82$4,710,872$1,230,312$736,166$3,182,001
83$5,127,162$1,226,378$696,608$3,405,047
84$5,583,890$1,220,228$653,702$3,649,081
85$6,085,118$1,211,690$607,273$3,916,250
86$6,635,319$1,200,582$557,135$4,208,923
87$7,239,420$1,186,709$503,098$4,529,714
88$7,902,849$1,169,867$444,960$4,881,509
89$8,631,586$1,149,836$382,513$5,267,487
90$9,432,218$1,126,388$315,537$5,691,162
91$10,312,001$1,099,278$243,804$6,156,404
92$11,278,928$1,068,246$167,075$6,667,486
93$12,341,809$1,033,020$85,101$7,229,122
94$13,510,344$993,309$0$7,846,509
95$14,795,225$948,806$0$8,525,688
96$16,208,229$899,189$0$9,284,327
97$17,762,331$844,112$0$10,118,530
98$19,471,830$783,214$0$11,036,031
99$21,352,475$716,111$0$12,045,356
100$23,421,625$642,397$0$13,155,906