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%17.7%
1 years$82,331$81,598$80,882$80,184$79,502$77,019
2 years$40,758$39,999$39,263$38,550$37,858$35,378
3 years$26,902$26,140$25,406$24,699$24,019$21,620
4 years$19,976$19,216$18,489$17,795$17,130$14,832
5 years$15,821$15,065$14,348$13,668$13,022$10,829
6 years$13,052$12,302$11,596$10,930$10,304$8,219
7 years$11,075$10,331$9,636$8,986$8,380$6,403
8 years$9,592$8,856$8,172$7,538$6,952$5,081
9 years$8,440$7,710$7,039$6,421$5,855$4,088
10 years$7,519$6,796$6,136$5,535$4,988$3,323
11 years$6,766$6,050$5,402$4,817$4,290$2,724
12 years$6,139$5,431$4,794$4,225$3,718$2,246
13 years$5,608$4,908$4,284$3,730$3,242$1,862
14 years$5,154$4,461$3,849$3,311$2,842$1,551
15 years$4,761$4,075$3,475$2,953$2,502$1,295
16 years$4,417$3,739$3,151$2,644$2,211$1,085
17 years$4,114$3,443$2,867$2,376$1,961$911
18 years$3,845$3,182$2,617$2,141$1,744$766
19 years$3,605$2,949$2,396$1,935$1,554$646
20 years$3,388$2,740$2,199$1,752$1,388$545
21 years$3,193$2,552$2,022$1,590$1,242$460
22 years$3,016$2,383$1,864$1,446$1,113$389
23 years$2,854$2,228$1,721$1,317$999$329
24 years$2,706$2,088$1,592$1,201$898$278
25 years$2,570$1,959$1,474$1,097$808$236
26 years$2,445$1,841$1,367$1,003$728$200
27 years$2,329$1,733$1,270$918$657$169
28 years$2,222$1,633$1,180$841$592$144
29 years$2,122$1,541$1,098$771$535$122
30 years$2,029$1,455$1,023$708$483$103
31 years$1,943$1,375$954$650$437$88
32 years$1,862$1,301$890$597$395$74
33 years$1,785$1,232$831$549$358$63
34 years$1,714$1,168$776$505$324$54
35 years$1,647$1,108$726$465$293$46
36 years$1,583$1,052$679$429$266$39
37 years$1,524$999$636$395$241$33
38 years$1,467$949$595$364$218$28
39 years$1,414$903$558$336$198$24
40 years$1,363$859$523$310$180$20
41 years$1,315$817$490$286$163$17
42 years$1,269$778$460$264$148$15
43 years$1,226$742$431$243$134$12
44 years$1,185$707$405$225$122$10
45 years$1,145$674$380$207$111$9
46 years$1,108$643$357$192$100$8
47 years$1,072$614$335$177$91$6
48 years$1,038$586$315$164$83$5
49 years$1,005$560$296$151$75$5
50 years$973$534$279$140$68$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $997,000, adding $4,033 every year, while hoping to spend $21,382 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: 61/22/17 Blend
62$997,000$997,000$997,000$997,000
63$1,102,854$1,050,013$1,034,560$1,165,122
64$1,192,595$1,078,713$1,046,467$1,236,281
65$1,290,773$1,108,103$1,058,057$1,311,153
66$1,398,225$1,138,194$1,069,296$1,392,362
67$1,515,876$1,168,997$1,080,148$1,480,525
68$1,644,740$1,200,523$1,090,578$1,576,320
69$1,785,937$1,232,782$1,100,546$1,680,495
70$1,940,699$1,265,785$1,110,011$1,793,875
71$2,110,384$1,299,542$1,118,930$1,917,366
72$2,296,486$1,334,063$1,127,257$2,051,967
73$2,500,653$1,369,357$1,134,945$2,198,780
74$2,724,697$1,405,433$1,141,943$2,359,016
75$2,970,616$1,442,299$1,148,198$2,534,012
76$3,240,611$1,479,964$1,153,655$2,725,238
77$3,537,105$1,518,434$1,158,255$2,934,316
78$3,862,770$1,557,718$1,161,936$3,163,032
79$4,220,546$1,597,819$1,164,635$3,413,352
80$4,613,674$1,638,745$1,166,283$3,687,444
81$5,045,725$1,680,499$1,166,808$3,987,698
82$5,520,630$1,723,084$1,166,138$4,316,745
83$6,042,723$1,766,504$1,164,192$4,677,483
84$6,616,777$1,810,760$1,160,890$5,073,109
85$7,248,053$1,855,852$1,156,144$5,507,142
86$7,942,344$1,901,778$1,149,865$5,983,463
87$8,706,036$1,948,538$1,141,957$6,506,345
88$9,546,161$1,996,126$1,132,322$7,080,498
89$10,470,470$2,044,537$1,120,856$7,711,114
90$11,487,503$2,093,764$1,107,450$8,403,912
91$12,606,669$2,143,798$1,091,989$9,165,194
92$13,838,333$2,194,629$1,074,355$10,001,906
93$15,193,920$2,246,242$1,054,423$10,921,702
94$16,686,014$2,298,623$1,032,061$11,933,016
95$18,328,486$2,351,753$1,007,132$13,045,143
96$20,136,615$2,405,613$979,495$14,268,325
97$22,127,239$2,460,178$948,998$15,613,849
98$24,318,914$2,515,422$915,485$17,094,155
99$26,732,082$2,571,317$878,793$18,722,949
100$29,389,271$2,627,828$838,749$20,515,338