Can I retire at age 63 with 982,000?

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 $982,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$81,093$80,370$79,666$78,978$78,306$77,553
2 years$40,145$39,397$38,673$37,970$37,289$36,530
3 years$26,497$25,747$25,024$24,328$23,657$22,917
4 years$19,675$18,926$18,211$17,527$16,873$16,156
5 years$15,583$14,839$14,132$13,462$12,826$12,135
6 years$12,855$12,117$11,421$10,766$10,149$9,484
7 years$10,908$10,176$9,491$8,851$8,254$7,616
8 years$9,448$8,722$8,049$7,425$6,847$6,237
9 years$8,313$7,594$6,933$6,325$5,767$5,182
10 years$7,406$6,694$6,044$5,452$4,913$4,356
11 years$6,664$5,959$5,321$4,745$4,226$3,694
12 years$6,046$5,349$4,722$4,162$3,662$3,155
13 years$5,524$4,834$4,219$3,674$3,193$2,712
14 years$5,077$4,394$3,791$3,262$2,799$2,342
15 years$4,689$4,014$3,423$2,909$2,465$2,031
16 years$4,351$3,683$3,103$2,604$2,178$1,767
17 years$4,052$3,392$2,824$2,340$1,931$1,542
18 years$3,787$3,134$2,578$2,109$1,717$1,349
19 years$3,550$2,904$2,360$1,906$1,531$1,183
20 years$3,338$2,699$2,166$1,726$1,367$1,040
21 years$3,145$2,514$1,992$1,566$1,223$915
22 years$2,971$2,347$1,836$1,424$1,097$806
23 years$2,811$2,195$1,695$1,297$984$711
24 years$2,666$2,056$1,568$1,183$885$628
25 years$2,532$1,930$1,452$1,080$796$555
26 years$2,408$1,814$1,347$988$717$491
27 years$2,294$1,707$1,251$904$647$435
28 years$2,189$1,608$1,163$828$583$386
29 years$2,090$1,517$1,082$760$527$342
30 years$1,999$1,433$1,008$697$476$303
31 years$1,913$1,355$939$640$430$269
32 years$1,834$1,282$877$588$389$239
33 years$1,759$1,214$818$541$352$212
34 years$1,688$1,150$765$498$319$188
35 years$1,622$1,091$715$458$289$167
36 years$1,560$1,036$669$422$262$149
37 years$1,501$984$626$389$237$132
38 years$1,445$935$586$358$215$118
39 years$1,392$889$549$331$195$105
40 years$1,343$846$515$305$177$93
41 years$1,295$805$483$281$161$83
42 years$1,250$767$453$260$146$74
43 years$1,207$731$425$240$132$65
44 years$1,167$696$399$221$120$58
45 years$1,128$664$374$204$109$52
46 years$1,091$633$352$189$99$46
47 years$1,056$605$330$174$90$41
48 years$1,022$577$311$161$82$37
49 years$990$551$292$149$74$33
50 years$959$526$274$138$67$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $982,000, adding $4,372 every year, while hoping to spend $41,784 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: 39/46/15 Blend
62$982,000$982,000$982,000$982,000
63$1,086,674$1,034,628$1,019,407$1,124,010
64$1,153,057$1,040,867$1,009,099$1,157,250
65$1,224,810$1,046,011$997,046$1,188,796
66$1,302,438$1,049,963$983,144$1,222,008
67$1,386,494$1,052,618$967,286$1,257,057
68$1,477,586$1,053,866$949,360$1,294,134
69$1,576,385$1,053,591$929,249$1,333,451
70$1,683,626$1,051,666$906,828$1,375,247
71$1,800,118$1,047,960$881,969$1,419,785
72$1,926,753$1,042,333$854,538$1,467,359
73$2,064,509$1,034,635$824,393$1,518,297
74$2,214,466$1,024,709$791,387$1,572,963
75$2,377,808$1,012,386$755,365$1,631,763
76$2,555,842$997,490$716,167$1,695,146
77$2,750,003$979,833$673,624$1,763,614
78$2,961,872$959,214$627,560$1,837,722
79$3,193,191$935,423$577,790$1,918,088
80$3,445,874$908,236$524,124$2,005,398
81$3,722,031$877,417$466,359$2,100,413
82$4,023,982$842,715$404,287$2,203,978
83$4,354,286$803,866$337,688$2,317,030
84$4,715,756$760,588$266,333$2,440,607
85$5,111,492$712,585$189,984$2,575,863
86$5,544,907$659,545$108,392$2,724,074
87$6,019,759$601,135$21,295$2,886,655
88$6,540,189$537,004$0$3,065,175
89$7,110,755$466,784$0$3,272,838
90$7,736,477$390,082$0$3,504,482
91$8,422,886$306,485$0$3,758,873
92$9,176,074$215,556$0$4,038,418
93$10,002,750$116,834$0$4,345,777
94$10,910,304$9,833$0$4,683,891
95$11,906,878$0$0$5,056,011
96$13,001,439$0$0$5,519,366
97$14,203,868$0$0$6,033,992
98$15,525,047$0$0$6,599,586
99$16,976,967$0$0$7,221,300
100$18,572,836$0$0$7,904,808