Can I retire at age 63 with 997,000?

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 $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%12.2%
1 years$82,331$81,598$80,882$80,184$79,502$78,770
2 years$40,758$39,999$39,263$38,550$37,858$37,121
3 years$26,902$26,140$25,406$24,699$24,019$23,299
4 years$19,976$19,216$18,489$17,795$17,130$16,433
5 years$15,821$15,065$14,348$13,668$13,022$12,350
6 years$13,052$12,302$11,596$10,930$10,304$9,658
7 years$11,075$10,331$9,636$8,986$8,380$7,760
8 years$9,592$8,856$8,172$7,538$6,952$6,358
9 years$8,440$7,710$7,039$6,421$5,855$5,286
10 years$7,519$6,796$6,136$5,535$4,988$4,445
11 years$6,766$6,050$5,402$4,817$4,290$3,772
12 years$6,139$5,431$4,794$4,225$3,718$3,225
13 years$5,608$4,908$4,284$3,730$3,242$2,773
14 years$5,154$4,461$3,849$3,311$2,842$2,396
15 years$4,761$4,075$3,475$2,953$2,502$2,079
16 years$4,417$3,739$3,151$2,644$2,211$1,810
17 years$4,114$3,443$2,867$2,376$1,961$1,581
18 years$3,845$3,182$2,617$2,141$1,744$1,385
19 years$3,605$2,949$2,396$1,935$1,554$1,215
20 years$3,388$2,740$2,199$1,752$1,388$1,068
21 years$3,193$2,552$2,022$1,590$1,242$941
22 years$3,016$2,383$1,864$1,446$1,113$830
23 years$2,854$2,228$1,721$1,317$999$732
24 years$2,706$2,088$1,592$1,201$898$647
25 years$2,570$1,959$1,474$1,097$808$573
26 years$2,445$1,841$1,367$1,003$728$507
27 years$2,329$1,733$1,270$918$657$450
28 years$2,222$1,633$1,180$841$592$399
29 years$2,122$1,541$1,098$771$535$354
30 years$2,029$1,455$1,023$708$483$314
31 years$1,943$1,375$954$650$437$279
32 years$1,862$1,301$890$597$395$248
33 years$1,785$1,232$831$549$358$220
34 years$1,714$1,168$776$505$324$196
35 years$1,647$1,108$726$465$293$174
36 years$1,583$1,052$679$429$266$155
37 years$1,524$999$636$395$241$138
38 years$1,467$949$595$364$218$123
39 years$1,414$903$558$336$198$109
40 years$1,363$859$523$310$180$97
41 years$1,315$817$490$286$163$86
42 years$1,269$778$460$264$148$77
43 years$1,226$742$431$243$134$69
44 years$1,185$707$405$225$122$61
45 years$1,145$674$380$207$111$54
46 years$1,108$643$357$192$100$48
47 years$1,072$614$335$177$91$43
48 years$1,038$586$315$164$83$38
49 years$1,005$560$296$151$75$34
50 years$973$534$279$140$68$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $997,000, adding $2,824 every year, while hoping to spend $33,927 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: 67/13/20 Blend
62$997,000$997,000$997,000$997,000
63$1,101,607$1,048,766$1,033,312$1,169,729
64$1,177,873$1,064,057$1,031,830$1,230,994
65$1,260,781$1,078,961$1,029,162$1,293,782
66$1,350,972$1,093,422$1,025,230$1,361,629
67$1,449,153$1,107,382$1,019,958$1,435,032
68$1,556,101$1,120,778$1,013,260$1,514,540
69$1,672,670$1,133,543$1,005,051$1,600,757
70$1,799,802$1,145,605$995,240$1,694,348
71$1,938,531$1,156,889$983,730$1,796,048
72$2,089,998$1,167,313$970,421$1,906,668
73$2,255,457$1,176,791$955,209$2,027,100
74$2,436,289$1,185,230$937,985$2,158,329
75$2,634,017$1,192,532$918,633$2,301,440
76$2,850,312$1,198,592$897,033$2,457,632
77$3,087,021$1,203,299$873,060$2,628,224
78$3,346,171$1,206,536$846,583$2,814,673
79$3,630,000$1,208,175$817,462$3,018,582
80$3,940,969$1,208,084$785,556$3,241,722
81$4,281,788$1,206,121$750,713$3,486,046
82$4,655,445$1,202,136$712,776$3,753,703
83$5,065,228$1,195,967$671,581$4,047,068
84$5,514,758$1,187,447$626,957$4,368,755
85$6,008,027$1,176,395$578,723$4,721,650
86$6,549,428$1,162,621$526,692$5,108,932
87$7,143,802$1,145,922$470,669$5,534,108
88$7,796,481$1,126,084$410,448$6,001,044
89$8,513,341$1,102,880$345,817$6,514,001
90$9,300,851$1,076,071$276,551$7,077,679
91$10,166,140$1,045,400$202,418$7,697,258
92$11,117,062$1,010,600$123,174$8,378,450
93$12,162,268$971,386$38,566$9,127,552
94$13,311,290$927,454$0$9,951,505
95$14,574,628$878,487$0$10,869,001
96$15,963,854$824,146$0$11,886,939
97$17,491,713$764,075$0$13,006,442
98$19,172,249$697,896$0$14,237,828
99$21,020,936$625,210$0$15,592,466
100$23,054,822$545,596$0$17,082,887