Can I retire at age 63 with 992,000?

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 $992,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$81,918$81,189$80,477$79,782$79,103$78,572
2 years$40,554$39,798$39,066$38,357$37,668$37,132
3 years$26,767$26,009$25,279$24,576$23,898$23,374
4 years$19,875$19,119$18,396$17,705$17,044$16,537
5 years$15,741$14,990$14,276$13,599$12,957$12,467
6 years$12,986$12,240$11,537$10,876$10,252$9,780
7 years$11,019$10,279$9,588$8,941$8,338$7,884
8 years$9,544$8,811$8,131$7,501$6,917$6,482
9 years$8,398$7,672$7,003$6,389$5,825$5,408
10 years$7,481$6,762$6,106$5,507$4,963$4,565
11 years$6,732$6,020$5,375$4,793$4,269$3,888
12 years$6,108$5,403$4,770$4,204$3,699$3,336
13 years$5,580$4,883$4,262$3,712$3,226$2,880
14 years$5,128$4,439$3,829$3,295$2,828$2,498
15 years$4,737$4,055$3,458$2,938$2,490$2,177
16 years$4,395$3,720$3,135$2,631$2,200$1,903
17 years$4,093$3,426$2,852$2,364$1,951$1,669
18 years$3,826$3,166$2,604$2,130$1,735$1,468
19 years$3,587$2,934$2,384$1,925$1,546$1,293
20 years$3,371$2,726$2,188$1,743$1,381$1,142
21 years$3,177$2,540$2,012$1,582$1,236$1,010
22 years$3,001$2,371$1,855$1,439$1,108$895
23 years$2,840$2,217$1,712$1,310$994$794
24 years$2,693$2,077$1,584$1,195$894$705
25 years$2,558$1,950$1,467$1,091$804$627
26 years$2,433$1,832$1,360$998$725$557
27 years$2,318$1,724$1,263$913$653$496
28 years$2,211$1,625$1,174$837$589$442
29 years$2,112$1,533$1,093$767$532$394
30 years$2,019$1,448$1,018$704$481$352
31 years$1,933$1,368$949$647$435$314
32 years$1,852$1,295$885$594$393$280
33 years$1,777$1,226$827$547$356$250
34 years$1,705$1,162$772$503$322$224
35 years$1,639$1,102$722$463$292$200
36 years$1,576$1,046$676$426$264$179
37 years$1,516$994$632$393$240$160
38 years$1,460$944$592$362$217$143
39 years$1,407$898$555$334$197$128
40 years$1,356$854$520$308$179$114
41 years$1,308$813$488$284$162$102
42 years$1,263$775$457$262$147$92
43 years$1,220$738$429$242$134$82
44 years$1,179$703$403$224$121$73
45 years$1,139$671$378$206$110$66
46 years$1,102$640$355$191$100$59
47 years$1,066$611$334$176$91$53
48 years$1,032$583$314$163$82$47
49 years$1,000$557$295$150$75$42
50 years$969$532$277$139$68$38

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $992,000, adding $5,792 every year, while hoping to spend $58,857 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: 69/15/16 Blend
62$992,000$992,000$992,000$992,000
63$1,099,158$1,046,582$1,031,206$1,170,482
64$1,148,649$1,035,242$1,003,128$1,207,386
65$1,201,215$1,021,372$972,137$1,240,213
66$1,257,109$1,004,789$938,073$1,274,640
67$1,316,604$985,294$900,769$1,310,817
68$1,380,003$962,679$860,050$1,348,913
69$1,447,635$936,722$815,734$1,389,112
70$1,519,863$907,190$767,629$1,431,622
71$1,597,081$873,835$715,538$1,476,673
72$1,679,725$836,394$659,250$1,524,518
73$1,768,271$794,591$598,548$1,575,441
74$1,863,240$748,132$533,205$1,629,755
75$1,965,206$696,706$462,983$1,687,808
76$2,074,798$639,986$387,634$1,749,986
77$2,192,707$577,624$306,899$1,816,716
78$2,319,690$509,255$220,507$1,888,473
79$2,456,580$434,490$128,176$1,965,782
80$2,604,292$352,920$29,610$2,049,226
81$2,763,830$264,114$0$2,139,451
82$2,936,299$167,614$0$2,250,073
83$3,122,912$62,938$0$2,375,216
84$3,325,004$0$0$2,510,753
85$3,544,041$0$0$2,666,037
86$3,781,637$0$0$2,845,793
87$4,039,565$0$0$3,040,981
88$4,319,775$0$0$3,253,083
89$4,624,414$0$0$3,483,729
90$4,955,844$0$0$3,734,715
91$5,316,661$0$0$4,008,014
92$5,709,724$0$0$4,305,800
93$6,138,178$0$0$4,630,461
94$6,605,486$0$0$4,984,631
95$7,115,457$0$0$5,371,204
96$7,672,286$0$0$5,793,370
97$8,280,590$0$0$6,254,636
98$8,945,451$0$0$6,758,868
99$9,672,465$0$0$7,310,319
100$10,467,795$0$0$7,913,672