Can I retire at age 63 with 1,000,000?

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 $1,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$82,579$81,843$81,126$80,425$79,741$78,582
2 years$40,881$40,119$39,381$38,666$37,972$36,807
3 years$26,983$26,218$25,482$24,774$24,091$22,956
4 years$20,036$19,273$18,545$17,848$17,182$16,085
5 years$15,868$15,111$14,391$13,709$13,061$12,007
6 years$13,091$12,339$11,630$10,963$10,335$9,323
7 years$11,108$10,362$9,665$9,013$8,405$7,437
8 years$9,621$8,882$8,197$7,561$6,973$6,048
9 years$8,466$7,734$7,060$6,440$5,872$4,990
10 years$7,542$6,817$6,155$5,552$5,003$4,164
11 years$6,786$6,069$5,419$4,832$4,303$3,505
12 years$6,157$5,447$4,809$4,238$3,729$2,971
13 years$5,625$4,922$4,296$3,742$3,252$2,533
14 years$5,170$4,474$3,860$3,321$2,850$2,170
15 years$4,775$4,087$3,485$2,962$2,510$1,867
16 years$4,430$3,750$3,160$2,652$2,218$1,611
17 years$4,126$3,454$2,875$2,383$1,967$1,394
18 years$3,857$3,191$2,625$2,148$1,749$1,210
19 years$3,615$2,958$2,403$1,940$1,559$1,051
20 years$3,399$2,748$2,205$1,757$1,392$916
21 years$3,203$2,560$2,029$1,595$1,246$798
22 years$3,025$2,390$1,870$1,450$1,117$697
23 years$2,863$2,235$1,726$1,321$1,002$610
24 years$2,714$2,094$1,596$1,205$901$533
25 years$2,578$1,965$1,479$1,100$811$467
26 years$2,453$1,847$1,371$1,006$730$409
27 years$2,336$1,738$1,273$921$658$359
28 years$2,229$1,638$1,184$844$594$315
29 years$2,129$1,545$1,102$774$537$277
30 years$2,036$1,459$1,026$710$485$243
31 years$1,949$1,380$957$652$438$214
32 years$1,867$1,305$893$599$396$188
33 years$1,791$1,236$833$551$359$165
34 years$1,719$1,172$779$507$325$145
35 years$1,652$1,111$728$467$294$128
36 years$1,588$1,055$681$430$267$112
37 years$1,528$1,002$637$396$242$99
38 years$1,472$952$597$365$219$87
39 years$1,418$905$559$337$199$77
40 years$1,367$861$524$310$180$67
41 years$1,319$820$492$286$163$59
42 years$1,273$781$461$264$148$52
43 years$1,230$744$433$244$135$46
44 years$1,188$709$406$225$122$41
45 years$1,149$676$381$208$111$36
46 years$1,111$645$358$192$101$31
47 years$1,075$616$336$178$91$28
48 years$1,041$588$316$164$83$24
49 years$1,008$561$297$152$75$21
50 years$976$536$279$140$69$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $1,000,000, adding $5,657 every year, while hoping to spend $50,845 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: 63/13/24 Blend
62$1,000,000$1,000,000$1,000,000$1,000,000
63$1,107,835$1,054,835$1,039,335$1,170,311
64$1,166,736$1,052,423$1,020,054$1,210,807
65$1,229,940$1,048,189$998,423$1,248,879
66$1,297,833$1,041,990$974,310$1,289,326
67$1,370,838$1,033,674$947,575$1,332,388
68$1,449,420$1,023,080$918,075$1,378,329
69$1,534,088$1,010,038$885,658$1,427,443
70$1,625,401$994,366$850,164$1,480,054
71$1,723,977$975,874$811,429$1,536,523
72$1,830,489$954,359$769,278$1,597,248
73$1,945,682$929,606$723,532$1,662,671
74$2,070,372$901,386$674,001$1,733,281
75$2,205,456$869,461$620,486$1,809,620
76$2,351,922$833,574$562,782$1,892,287
77$2,510,855$793,456$500,672$1,981,946
78$2,683,449$748,822$433,931$2,079,330
79$2,871,016$699,370$362,324$2,185,253
80$3,075,002$644,782$285,604$2,300,612
81$3,296,996$584,719$203,515$2,426,401
82$3,538,746$518,827$115,789$2,563,720
83$3,802,176$446,727$22,146$2,713,784
84$4,089,404$368,023$0$2,877,937
85$4,402,761$282,294$0$3,077,583
86$4,744,811$189,095$0$3,301,792
87$5,118,380$87,958$0$3,546,782
88$5,526,574$0$0$3,814,644
89$5,972,817$0$0$4,110,774
90$6,460,877$0$0$4,448,483
91$6,994,902$0$0$4,818,068
92$7,579,461$0$0$5,222,700
93$8,219,583$0$0$5,665,870
94$8,920,809$0$0$6,151,422
95$9,689,239$0$0$6,683,591
96$10,531,592$0$0$7,267,041
97$11,455,268$0$0$7,906,906
98$12,468,416$0$0$8,608,845
99$13,580,014$0$0$9,379,087
100$14,799,949$0$0$10,224,497