Can I retire at age 63 with 1,010,000?

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 $1,010,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.6%
1 years$83,405$82,662$81,937$81,230$80,539$77,435
2 years$41,290$40,521$39,775$39,053$38,352$35,262
3 years$27,253$26,481$25,737$25,021$24,332$21,353
4 years$20,236$19,466$18,730$18,027$17,354$14,509
5 years$16,027$15,262$14,535$13,846$13,192$10,488
6 years$13,222$12,462$11,747$11,073$10,438$7,877
7 years$11,219$10,466$9,762$9,104$8,489$6,070
8 years$9,717$8,971$8,279$7,637$7,043$4,763
9 years$8,550$7,811$7,130$6,505$5,931$3,788
10 years$7,617$6,885$6,216$5,607$5,053$3,043
11 years$6,854$6,129$5,473$4,880$4,346$2,463
12 years$6,219$5,501$4,857$4,280$3,766$2,006
13 years$5,681$4,972$4,339$3,779$3,284$1,642
14 years$5,221$4,519$3,899$3,355$2,879$1,349
15 years$4,823$4,128$3,520$2,992$2,535$1,112
16 years$4,475$3,788$3,192$2,679$2,240$918
17 years$4,168$3,488$2,904$2,407$1,986$760
18 years$3,895$3,223$2,651$2,169$1,766$631
19 years$3,652$2,987$2,427$1,960$1,574$524
20 years$3,433$2,776$2,227$1,775$1,406$435
21 years$3,235$2,586$2,049$1,611$1,258$362
22 years$3,055$2,414$1,888$1,465$1,128$302
23 years$2,891$2,257$1,743$1,334$1,013$251
24 years$2,742$2,115$1,612$1,217$910$210
25 years$2,604$1,985$1,493$1,111$819$175
26 years$2,477$1,865$1,385$1,016$738$146
27 years$2,360$1,756$1,286$930$665$122
28 years$2,251$1,654$1,196$852$600$102
29 years$2,150$1,561$1,113$781$542$85
30 years$2,056$1,474$1,036$717$490$71
31 years$1,968$1,393$966$659$443$59
32 years$1,886$1,318$901$605$400$50
33 years$1,809$1,248$842$557$362$41
34 years$1,736$1,183$786$512$328$35
35 years$1,668$1,122$735$471$297$29
36 years$1,604$1,065$688$434$269$24
37 years$1,544$1,012$644$400$244$20
38 years$1,486$962$603$369$221$17
39 years$1,432$914$565$340$201$14
40 years$1,381$870$529$314$182$12
41 years$1,332$828$496$289$165$10
42 years$1,286$789$466$267$150$8
43 years$1,242$751$437$246$136$7
44 years$1,200$716$410$228$123$6
45 years$1,160$683$385$210$112$5
46 years$1,122$652$362$194$102$4
47 years$1,086$622$340$179$92$3
48 years$1,051$594$319$166$84$3
49 years$1,018$567$300$153$76$2
50 years$986$541$282$142$69$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $1,010,000, adding $3,822 every year, while hoping to spend $53,761 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: 77/7/16 Blend
62$1,010,000$1,010,000$1,010,000$1,010,000
63$1,116,962$1,063,432$1,047,777$1,198,791
64$1,173,691$1,058,339$1,025,677$1,248,239
65$1,234,405$1,051,195$1,001,034$1,295,315
66$1,299,452$1,041,842$973,707$1,345,467
67$1,369,217$1,030,113$943,547$1,398,984
68$1,444,121$1,015,832$910,399$1,456,186
69$1,524,625$998,812$874,101$1,517,423
70$1,611,237$978,853$834,484$1,583,083
71$1,704,512$955,746$791,368$1,653,595
72$1,805,063$929,268$744,569$1,729,429
73$1,913,561$899,184$693,894$1,811,106
74$2,030,744$865,243$639,139$1,899,202
75$2,157,422$827,183$580,092$1,994,349
76$2,294,487$784,722$516,533$2,097,248
77$2,442,918$737,568$448,231$2,208,669
78$2,603,793$685,405$374,944$2,329,464
79$2,778,295$627,906$296,420$2,460,572
80$2,967,728$564,720$212,396$2,603,030
81$3,173,523$495,478$122,598$2,757,980
82$3,397,256$419,790$26,739$2,926,685
83$3,640,661$337,245$0$3,110,534
84$3,905,646$247,407$0$3,323,964
85$4,194,308$149,817$0$3,561,478
86$4,508,958$43,988$0$3,820,431
87$4,852,138$0$0$4,102,941
88$5,226,645$0$0$4,416,780
89$5,635,558$0$0$4,763,185
90$6,082,268$0$0$5,141,643
91$6,570,507$0$0$5,555,322
92$7,104,384$0$0$6,007,708
93$7,688,422$0$0$6,502,637
94$8,327,603$0$0$7,044,336
95$9,027,411$0$0$7,637,460
96$9,793,887$0$0$8,287,132
97$10,633,683$0$0$8,998,996
98$11,554,124$0$0$9,779,267
99$12,563,277$0$0$10,634,791
100$13,670,030$0$0$11,573,106