Can I retire at age 63 with 984,000?

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 $984,000?

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$81,258$80,534$79,828$79,139$78,466$76,850
2 years$40,227$39,477$38,751$38,047$37,365$35,744
3 years$26,551$25,799$25,075$24,377$23,706$22,131
4 years$19,715$18,965$18,248$17,562$16,907$15,390
5 years$15,614$14,869$14,161$13,490$12,852$11,398
6 years$12,881$12,141$11,444$10,788$10,170$8,779
7 years$10,930$10,196$9,510$8,869$8,271$6,944
8 years$9,467$8,740$8,065$7,440$6,861$5,599
9 years$8,330$7,610$6,947$6,337$5,778$4,578
10 years$7,421$6,708$6,056$5,463$4,923$3,785
11 years$6,678$5,972$5,332$4,754$4,234$3,156
12 years$6,059$5,360$4,732$4,170$3,669$2,650
13 years$5,535$4,844$4,228$3,682$3,200$2,237
14 years$5,087$4,403$3,799$3,268$2,805$1,897
15 years$4,699$4,022$3,430$2,915$2,470$1,615
16 years$4,359$3,690$3,109$2,610$2,183$1,379
17 years$4,060$3,398$2,829$2,345$1,935$1,181
18 years$3,795$3,140$2,583$2,113$1,721$1,013
19 years$3,558$2,910$2,365$1,909$1,534$871
20 years$3,344$2,704$2,170$1,729$1,370$750
21 years$3,152$2,519$1,996$1,569$1,226$647
22 years$2,977$2,351$1,840$1,427$1,099$558
23 years$2,817$2,199$1,699$1,300$986$482
24 years$2,671$2,061$1,571$1,185$887$417
25 years$2,537$1,934$1,455$1,083$798$361
26 years$2,413$1,817$1,349$990$719$313
27 years$2,299$1,710$1,253$906$648$271
28 years$2,193$1,612$1,165$830$585$235
29 years$2,095$1,520$1,084$761$528$204
30 years$2,003$1,436$1,010$699$477$177
31 years$1,917$1,357$941$642$431$153
32 years$1,837$1,284$878$590$390$133
33 years$1,762$1,216$820$542$353$116
34 years$1,692$1,153$766$499$320$100
35 years$1,625$1,093$716$459$290$87
36 years$1,563$1,038$670$423$262$76
37 years$1,504$986$627$390$238$66
38 years$1,448$937$587$359$216$57
39 years$1,395$891$550$331$195$50
40 years$1,345$847$516$305$177$43
41 years$1,298$807$484$282$161$38
42 years$1,253$768$454$260$146$33
43 years$1,210$732$426$240$132$28
44 years$1,169$698$400$222$120$25
45 years$1,130$665$375$205$109$21
46 years$1,093$635$352$189$99$19
47 years$1,058$606$331$175$90$16
48 years$1,024$578$311$161$82$14
49 years$992$552$292$149$74$12
50 years$961$528$275$138$67$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $984,000, adding $2,193 every year, while hoping to spend $25,850 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: 49/35/16 Blend
62$984,000$984,000$984,000$984,000
63$1,086,630$1,034,478$1,019,226$1,134,942
64$1,169,962$1,057,663$1,025,866$1,191,708
65$1,260,928$1,081,118$1,031,862$1,250,494
66$1,360,278$1,104,829$1,037,165$1,313,788
67$1,468,840$1,128,779$1,041,724$1,382,023
68$1,587,525$1,152,953$1,045,485$1,455,677
69$1,717,335$1,177,329$1,048,391$1,535,273
70$1,859,374$1,201,889$1,050,382$1,621,391
71$2,014,857$1,226,609$1,051,397$1,714,668
72$2,185,123$1,251,463$1,051,369$1,815,807
73$2,371,645$1,276,425$1,050,230$1,925,582
74$2,576,048$1,301,464$1,047,908$2,044,848
75$2,800,118$1,326,550$1,044,326$2,174,545
76$3,045,825$1,351,645$1,039,406$2,315,710
77$3,315,337$1,376,714$1,033,064$2,469,487
78$3,611,042$1,401,714$1,025,213$2,637,137
79$3,935,572$1,426,601$1,015,761$2,820,048
80$4,291,825$1,451,329$1,004,613$3,019,753
81$4,682,992$1,475,845$991,669$3,237,939
82$5,112,591$1,500,095$976,823$3,476,468
83$5,584,494$1,524,019$959,965$3,737,392
84$6,102,970$1,547,553$940,982$4,022,974
85$6,672,719$1,570,629$919,751$4,335,705
86$7,298,921$1,593,175$896,147$4,678,337
87$7,987,281$1,615,111$870,038$5,053,898
88$8,744,086$1,636,353$841,287$5,465,731
89$9,576,261$1,656,813$809,749$5,917,518
90$10,491,438$1,676,395$775,273$6,413,319
91$11,498,021$1,694,995$737,701$6,957,611
92$12,605,275$1,712,505$696,870$7,555,328
93$13,823,403$1,728,808$652,605$8,211,909
94$15,163,651$1,743,781$604,729$8,933,351
95$16,638,408$1,757,290$553,051$9,726,264
96$18,261,324$1,769,196$497,377$10,597,935
97$20,047,440$1,779,347$437,500$11,556,397
98$22,013,328$1,787,585$373,206$12,610,505
99$24,177,251$1,793,740$304,271$13,770,021
100$26,559,328$1,797,631$230,462$15,045,704