Can I retire at age 63 with 1,030,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $1,030,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.1%
1 years$85,056$84,299$83,560$82,838$82,134$79,760
2 years$42,107$41,323$40,563$39,826$39,111$36,739
3 years$27,793$27,005$26,247$25,517$24,814$22,517
4 years$20,637$19,852$19,101$18,384$17,697$15,494
5 years$16,344$15,564$14,823$14,120$13,453$11,348
6 years$13,484$12,709$11,979$11,292$10,645$8,641
7 years$11,441$10,673$9,955$9,284$8,657$6,755
8 years$9,910$9,149$8,443$7,788$7,182$5,379
9 years$8,720$7,966$7,272$6,634$6,048$4,343
10 years$7,768$7,021$6,339$5,718$5,154$3,544
11 years$6,990$6,251$5,581$4,977$4,432$2,916
12 years$6,342$5,610$4,953$4,365$3,841$2,415
13 years$5,794$5,070$4,425$3,854$3,349$2,010
14 years$5,325$4,609$3,976$3,421$2,936$1,681
15 years$4,918$4,210$3,590$3,051$2,585$1,410
16 years$4,563$3,863$3,255$2,732$2,285$1,186
17 years$4,250$3,557$2,962$2,454$2,026$1,000
18 years$3,972$3,287$2,704$2,212$1,801$845
19 years$3,724$3,046$2,475$1,999$1,605$715
20 years$3,501$2,831$2,272$1,810$1,434$606
21 years$3,299$2,637$2,089$1,643$1,283$514
22 years$3,116$2,461$1,926$1,494$1,150$437
23 years$2,949$2,302$1,778$1,360$1,033$371
24 years$2,796$2,157$1,644$1,241$928$316
25 years$2,655$2,024$1,523$1,133$835$269
26 years$2,526$1,902$1,413$1,036$752$229
27 years$2,407$1,790$1,312$948$678$195
28 years$2,296$1,687$1,219$869$612$166
29 years$2,193$1,592$1,135$797$553$142
30 years$2,097$1,503$1,057$731$499$121
31 years$2,007$1,421$985$672$451$103
32 years$1,923$1,344$919$617$408$88
33 years$1,845$1,273$858$568$370$75
34 years$1,771$1,207$802$522$335$64
35 years$1,701$1,145$750$481$303$55
36 years$1,636$1,086$701$443$275$47
37 years$1,574$1,032$657$408$249$40
38 years$1,516$981$615$376$226$34
39 years$1,461$932$576$347$205$29
40 years$1,408$887$540$320$186$25
41 years$1,359$844$506$295$168$21
42 years$1,311$804$475$272$153$18
43 years$1,266$766$446$251$139$15
44 years$1,224$730$418$232$126$13
45 years$1,183$697$393$214$114$11
46 years$1,144$664$369$198$104$10
47 years$1,107$634$347$183$94$8
48 years$1,072$605$326$169$86$7
49 years$1,038$578$306$156$78$6
50 years$1,006$552$288$144$71$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $1,030,000, adding $3,025 every year, while hoping to spend $48,761 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: 48/35/17 Blend
62$1,030,000$1,030,000$1,030,000$1,030,000
63$1,138,180$1,083,590$1,067,625$1,187,244
64$1,202,393$1,084,805$1,051,509$1,222,774
65$1,271,522$1,084,445$1,033,219$1,256,112
66$1,346,016$1,082,381$1,012,631$1,291,263
67$1,426,369$1,078,478$989,614$1,328,414
68$1,513,125$1,072,589$964,032$1,367,777
69$1,606,880$1,064,562$935,743$1,409,585
70$1,708,289$1,054,234$904,598$1,454,099
71$1,818,074$1,041,430$870,442$1,501,610
72$1,937,026$1,025,969$833,110$1,552,442
73$2,066,017$1,007,656$792,434$1,606,953
74$2,206,005$986,285$748,234$1,665,544
75$2,358,043$961,638$700,325$1,728,659
76$2,523,289$933,485$648,512$1,796,793
77$2,703,020$901,581$592,593$1,870,496
78$2,898,638$865,668$532,354$1,950,376
79$3,111,686$825,472$467,575$2,037,112
80$3,343,862$780,705$398,023$2,131,455
81$3,597,037$731,060$323,457$2,234,238
82$3,873,266$676,213$243,624$2,346,388
83$4,174,814$615,823$158,261$2,468,930
84$4,504,174$549,527$67,092$2,603,002
85$4,864,090$476,944$0$2,749,864
86$5,257,583$397,670$0$2,916,392
87$5,687,980$311,279$0$3,112,000
88$6,158,941$217,319$0$3,326,276
89$6,674,500$115,315$0$3,561,178
90$7,239,098$4,764$0$3,818,870
91$7,857,624$0$0$4,101,744
92$8,535,464$0$0$4,456,681
93$9,278,550$0$0$4,847,909
94$10,093,413$0$0$5,277,047
95$10,987,248$0$0$5,747,898
96$11,967,980$0$0$6,264,652
97$13,044,338$0$0$6,831,926
98$14,225,936$0$0$7,454,802
99$15,523,366$0$0$8,138,881
100$16,948,296$0$0$8,890,332