Can I retire at age 63 with 998,000?

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 $998,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$82,414$81,680$80,964$80,265$79,582$77,943
2 years$40,799$40,039$39,303$38,589$37,896$36,253
3 years$26,929$26,166$25,431$24,724$24,043$22,446
4 years$19,996$19,235$18,508$17,812$17,148$15,609
5 years$15,837$15,080$14,363$13,682$13,035$11,560
6 years$13,065$12,314$11,607$10,941$10,314$8,904
7 years$11,086$10,341$9,646$8,995$8,388$7,043
8 years$9,602$8,865$8,180$7,546$6,959$5,678
9 years$8,449$7,718$7,046$6,428$5,860$4,643
10 years$7,527$6,803$6,143$5,541$4,993$3,839
11 years$6,773$6,056$5,408$4,822$4,294$3,201
12 years$6,145$5,436$4,799$4,230$3,722$2,688
13 years$5,614$4,913$4,288$3,734$3,245$2,269
14 years$5,159$4,465$3,853$3,315$2,845$1,924
15 years$4,766$4,079$3,478$2,956$2,505$1,638
16 years$4,422$3,743$3,154$2,647$2,214$1,399
17 years$4,118$3,447$2,870$2,378$1,963$1,198
18 years$3,849$3,185$2,620$2,143$1,745$1,028
19 years$3,608$2,952$2,398$1,937$1,556$884
20 years$3,392$2,743$2,201$1,754$1,389$761
21 years$3,196$2,555$2,024$1,592$1,243$656
22 years$3,019$2,385$1,866$1,447$1,115$566
23 years$2,857$2,231$1,723$1,318$1,000$489
24 years$2,709$2,090$1,593$1,202$899$423
25 years$2,573$1,961$1,476$1,098$809$366
26 years$2,448$1,843$1,369$1,004$729$317
27 years$2,332$1,735$1,271$919$657$275
28 years$2,224$1,635$1,181$842$593$238
29 years$2,124$1,542$1,099$772$535$207
30 years$2,031$1,456$1,024$709$484$179
31 years$1,945$1,377$955$651$437$156
32 years$1,863$1,303$891$598$396$135
33 years$1,787$1,234$832$550$358$117
34 years$1,716$1,169$777$506$324$102
35 years$1,648$1,109$727$466$294$88
36 years$1,585$1,053$680$429$266$77
37 years$1,525$1,000$636$395$241$67
38 years$1,469$950$596$364$219$58
39 years$1,415$903$558$336$198$50
40 years$1,364$860$523$310$180$44
41 years$1,316$818$491$286$163$38
42 years$1,271$779$460$264$148$33
43 years$1,227$742$432$244$134$29
44 years$1,186$708$405$225$122$25
45 years$1,146$675$381$208$111$22
46 years$1,109$644$357$192$101$19
47 years$1,073$614$336$177$91$16
48 years$1,039$587$316$164$83$14
49 years$1,006$560$297$151$75$12
50 years$974$535$279$140$68$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $998,000, adding $4,585 every year, while hoping to spend $24,489 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: 29/43/28 Blend
62$998,000$998,000$998,000$998,000
63$1,104,525$1,051,631$1,036,162$1,126,904
64$1,191,131$1,077,105$1,044,818$1,170,425
65$1,285,749$1,103,007$1,052,942$1,214,747
66$1,389,172$1,129,330$1,060,492$1,261,908
67$1,502,271$1,156,071$1,067,422$1,312,172
68$1,626,005$1,183,221$1,073,683$1,365,827
69$1,761,431$1,210,772$1,079,225$1,423,193
70$1,909,712$1,238,714$1,083,994$1,484,623
71$2,072,128$1,267,037$1,087,934$1,550,503
72$2,250,092$1,295,729$1,090,986$1,621,263
73$2,445,156$1,324,774$1,093,088$1,697,374
74$2,659,031$1,354,157$1,094,176$1,779,359
75$2,893,603$1,383,861$1,094,181$1,867,790
76$3,150,946$1,413,866$1,093,032$1,963,303
77$3,433,347$1,444,151$1,090,654$2,066,596
78$3,743,325$1,474,691$1,086,967$2,178,442
79$4,083,654$1,505,460$1,081,890$2,299,690
80$4,457,389$1,536,430$1,075,336$2,431,280
81$4,867,898$1,567,570$1,067,214$2,574,247
82$5,318,887$1,598,845$1,057,430$2,729,733
83$5,814,443$1,630,217$1,045,883$2,898,999
84$6,359,066$1,661,648$1,032,470$3,083,435
85$6,957,715$1,693,093$1,017,082$3,284,573
86$7,615,851$1,724,504$999,604$3,504,106
87$8,339,494$1,755,830$979,916$3,743,898
88$9,135,273$1,787,016$957,894$4,006,008
89$10,010,494$1,818,003$933,406$4,292,706
90$10,973,205$1,848,726$906,316$4,606,495
91$12,032,274$1,879,116$876,480$4,950,137
92$13,197,472$1,909,099$843,749$5,326,677
93$14,479,565$1,938,595$807,964$5,739,475
94$15,890,413$1,967,519$768,964$6,192,236
95$17,443,087$1,995,779$726,576$6,689,045
96$19,151,987$2,023,277$680,621$7,234,409
97$21,032,980$2,049,908$630,912$7,833,298
98$23,103,550$2,075,561$577,255$8,491,192
99$25,382,963$2,100,114$519,443$9,214,133
100$27,892,446$2,123,439$457,265$10,008,788