Can I retire at age 63 with 987,000?

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 $987,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.6%
1 years$81,506$80,780$80,071$79,380$78,705$76,896
2 years$40,349$39,598$38,870$38,163$37,478$35,666
3 years$26,632$25,878$25,151$24,452$23,778$22,018
4 years$19,775$19,023$18,304$17,616$16,959$15,266
5 years$15,662$14,914$14,204$13,531$12,892$11,270
6 years$12,921$12,178$11,479$10,821$10,201$8,652
7 years$10,963$10,227$9,539$8,896$8,296$6,821
8 years$9,496$8,767$8,090$7,463$6,882$5,480
9 years$8,356$7,633$6,968$6,357$5,796$4,465
10 years$7,444$6,728$6,075$5,480$4,938$3,678
11 years$6,698$5,990$5,348$4,769$4,247$3,055
12 years$6,077$5,376$4,746$4,183$3,680$2,555
13 years$5,552$4,858$4,241$3,693$3,209$2,148
14 years$5,102$4,416$3,810$3,278$2,813$1,815
15 years$4,713$4,034$3,440$2,924$2,477$1,538
16 years$4,373$3,701$3,119$2,618$2,189$1,308
17 years$4,073$3,409$2,838$2,352$1,941$1,115
18 years$3,806$3,150$2,591$2,120$1,726$953
19 years$3,568$2,919$2,372$1,915$1,538$815
20 years$3,355$2,713$2,177$1,735$1,374$699
21 years$3,161$2,527$2,002$1,574$1,230$600
22 years$2,986$2,359$1,845$1,431$1,102$515
23 years$2,826$2,206$1,704$1,304$989$443
24 years$2,679$2,067$1,576$1,189$889$382
25 years$2,545$1,940$1,459$1,086$800$329
26 years$2,421$1,823$1,354$993$721$283
27 years$2,306$1,716$1,257$909$650$244
28 years$2,200$1,617$1,168$833$586$211
29 years$2,101$1,525$1,087$764$530$182
30 years$2,009$1,440$1,013$701$478$157
31 years$1,923$1,362$944$644$433$136
32 years$1,843$1,288$881$591$391$117
33 years$1,768$1,220$823$544$354$101
34 years$1,697$1,156$769$500$321$87
35 years$1,630$1,097$719$461$290$76
36 years$1,568$1,041$672$424$263$65
37 years$1,508$989$629$391$238$56
38 years$1,452$940$589$360$216$49
39 years$1,400$893$552$332$196$42
40 years$1,349$850$517$306$178$36
41 years$1,302$809$485$283$161$32
42 years$1,257$771$455$261$146$27
43 years$1,214$734$427$241$133$24
44 years$1,173$700$401$222$121$20
45 years$1,134$667$376$205$109$18
46 years$1,097$637$354$190$99$15
47 years$1,061$608$332$175$90$13
48 years$1,027$580$312$162$82$11
49 years$995$554$293$150$74$10
50 years$964$529$276$138$68$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $987,000, adding $3,904 every year, while hoping to spend $59,706 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: 43/46/11 Blend
62$987,000$987,000$987,000$987,000
63$1,091,701$1,039,390$1,024,091$1,135,002
64$1,139,528$1,026,793$994,872$1,153,000
65$1,190,232$1,011,578$962,672$1,166,164
66$1,244,043$993,554$927,330$1,179,093
67$1,301,215$972,517$888,674$1,191,787
68$1,362,021$948,253$846,528$1,204,255
69$1,426,765$920,535$800,704$1,216,509
70$1,495,776$889,121$751,008$1,228,566
71$1,569,415$853,758$697,237$1,240,453
72$1,648,079$814,177$639,178$1,252,202
73$1,732,202$770,090$576,610$1,263,859
74$1,822,261$721,199$509,300$1,275,475
75$1,918,777$667,183$437,007$1,287,117
76$2,022,322$607,705$359,477$1,298,867
77$2,133,526$542,410$276,447$1,310,818
78$2,253,079$470,920$187,640$1,323,087
79$2,381,736$392,839$92,769$1,335,806
80$2,520,330$307,745$0$1,349,133
81$2,669,773$215,194$0$1,364,246
82$2,831,070$114,718$0$1,392,046
83$3,005,321$5,822$0$1,421,918
84$3,193,739$0$0$1,454,182
85$3,397,655$0$0$1,545,905
86$3,618,532$0$0$1,648,550
87$3,857,979$0$0$1,759,932
88$4,117,766$0$0$1,880,886
89$4,399,840$0$0$2,012,333
90$4,706,339$0$0$2,155,284
91$5,039,620$0$0$2,310,855
92$5,402,272$0$0$2,480,268
93$5,797,145$0$0$2,664,874
94$6,227,377$0$0$2,866,156
95$6,696,419$0$0$3,085,746
96$7,208,069$0$0$3,325,443
97$7,766,509$0$0$3,587,225
98$8,376,341$0$0$3,873,270
99$9,042,631$0$0$4,185,976
100$9,770,959$0$0$4,527,984