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%13.6%
1 years$82,414$81,680$80,964$80,265$79,582$78,393
2 years$40,799$40,039$39,303$38,589$37,896$36,701
3 years$26,929$26,166$25,431$24,724$24,043$22,878
4 years$19,996$19,235$18,508$17,812$17,148$16,023
5 years$15,837$15,080$14,363$13,682$13,035$11,954
6 years$13,065$12,314$11,607$10,941$10,314$9,278
7 years$11,086$10,341$9,646$8,995$8,388$7,396
8 years$9,602$8,865$8,180$7,546$6,959$6,012
9 years$8,449$7,718$7,046$6,428$5,860$4,957
10 years$7,527$6,803$6,143$5,541$4,993$4,134
11 years$6,773$6,056$5,408$4,822$4,294$3,477
12 years$6,145$5,436$4,799$4,230$3,722$2,946
13 years$5,614$4,913$4,288$3,734$3,245$2,510
14 years$5,159$4,465$3,853$3,315$2,845$2,149
15 years$4,766$4,079$3,478$2,956$2,505$1,847
16 years$4,422$3,743$3,154$2,647$2,214$1,593
17 years$4,118$3,447$2,870$2,378$1,963$1,378
18 years$3,849$3,185$2,620$2,143$1,745$1,194
19 years$3,608$2,952$2,398$1,937$1,556$1,037
20 years$3,392$2,743$2,201$1,754$1,389$903
21 years$3,196$2,555$2,024$1,592$1,243$787
22 years$3,019$2,385$1,866$1,447$1,115$686
23 years$2,857$2,231$1,723$1,318$1,000$600
24 years$2,709$2,090$1,593$1,202$899$524
25 years$2,573$1,961$1,476$1,098$809$459
26 years$2,448$1,843$1,369$1,004$729$402
27 years$2,332$1,735$1,271$919$657$352
28 years$2,224$1,635$1,181$842$593$309
29 years$2,124$1,542$1,099$772$535$271
30 years$2,031$1,456$1,024$709$484$238
31 years$1,945$1,377$955$651$437$209
32 years$1,863$1,303$891$598$396$183
33 years$1,787$1,234$832$550$358$161
34 years$1,716$1,169$777$506$324$141
35 years$1,648$1,109$727$466$294$124
36 years$1,585$1,053$680$429$266$109
37 years$1,525$1,000$636$395$241$96
38 years$1,469$950$596$364$219$85
39 years$1,415$903$558$336$198$74
40 years$1,364$860$523$310$180$65
41 years$1,316$818$491$286$163$57
42 years$1,271$779$460$264$148$51
43 years$1,227$742$432$244$134$44
44 years$1,186$708$405$225$122$39
45 years$1,146$675$381$208$111$34
46 years$1,109$644$357$192$101$30
47 years$1,073$614$336$177$91$27
48 years$1,039$587$316$164$83$23
49 years$1,006$560$297$151$75$21
50 years$974$535$279$140$68$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $998,000, adding $5,856 every year, while hoping to spend $54,936 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: 63/24/13 Blend
62$998,000$998,000$998,000$998,000
63$1,105,836$1,052,942$1,037,473$1,171,731
64$1,160,180$1,046,085$1,013,777$1,209,733
65$1,218,226$1,037,051$987,446$1,244,368
66$1,280,293$1,025,674$958,334$1,280,836
67$1,346,732$1,011,781$926,287$1,319,316
68$1,417,927$995,187$891,146$1,360,007
69$1,494,299$975,695$852,743$1,403,130
70$1,576,312$953,098$810,904$1,448,930
71$1,664,472$927,176$765,445$1,497,680
72$1,759,336$897,695$716,176$1,549,683
73$1,861,517$864,411$662,896$1,605,275
74$1,971,686$827,062$605,398$1,664,829
75$2,090,582$785,372$543,463$1,728,758
76$2,219,016$739,049$476,863$1,797,522
77$2,357,878$687,785$405,360$1,871,630
78$2,508,148$631,254$328,707$1,951,648
79$2,670,904$569,110$246,643$2,038,200
80$2,847,330$500,989$158,899$2,131,982
81$3,038,726$426,506$65,191$2,233,762
82$3,246,525$345,255$0$2,344,392
83$3,472,302$256,803$0$2,469,646
84$3,717,789$160,699$0$2,615,703
85$3,984,893$56,462$0$2,774,715
86$4,275,709$0$0$2,948,009
87$4,592,546$0$0$3,151,950
88$4,937,942$0$0$3,390,597
89$5,314,694$0$0$3,650,975
90$5,725,875$0$0$3,935,220
91$6,174,874$0$0$4,245,681
92$6,665,417$0$0$4,584,944
93$7,201,607$0$0$4,955,858
94$7,787,962$0$0$5,361,558
95$8,429,458$0$0$5,805,495
96$9,131,570$0$0$6,291,471
97$9,900,330$0$0$6,823,672
98$10,742,381$0$0$7,406,707
99$11,665,035$0$0$8,045,653
100$12,676,348$0$0$8,746,100