Can I retire at age 63 with 1,070,000?

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 $1,070,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$88,360$87,573$86,805$86,055$85,323$84,187
2 years$43,742$42,928$42,138$41,373$40,630$39,487
3 years$28,872$28,054$27,266$26,508$25,777$24,664
4 years$21,438$20,622$19,843$19,097$18,385$17,308
5 years$16,979$16,168$15,399$14,669$13,976$12,940
6 years$14,007$13,203$12,445$11,731$11,059$10,064
7 years$11,885$11,088$10,341$9,644$8,994$8,042
8 years$10,295$9,504$8,770$8,090$7,461$6,551
9 years$9,058$8,275$7,554$6,891$6,283$5,415
10 years$8,070$7,294$6,586$5,940$5,354$4,526
11 years$7,261$6,493$5,798$5,170$4,604$3,817
12 years$6,588$5,828$5,146$4,535$3,990$3,242
13 years$6,019$5,267$4,597$4,003$3,479$2,770
14 years$5,531$4,788$4,131$3,554$3,050$2,378
15 years$5,109$4,373$3,729$3,169$2,685$2,049
16 years$4,741$4,013$3,381$2,838$2,373$1,772
17 years$4,415$3,695$3,077$2,550$2,104$1,537
18 years$4,127$3,415$2,809$2,298$1,871$1,336
19 years$3,869$3,165$2,571$2,076$1,668$1,164
20 years$3,637$2,941$2,360$1,880$1,490$1,016
21 years$3,427$2,739$2,171$1,707$1,333$888
22 years$3,237$2,557$2,000$1,552$1,195$777
23 years$3,063$2,392$1,847$1,413$1,073$681
24 years$2,904$2,241$1,708$1,289$964$597
25 years$2,759$2,103$1,582$1,177$868$524
26 years$2,624$1,976$1,467$1,076$781$461
27 years$2,500$1,860$1,363$985$705$405
28 years$2,385$1,753$1,267$903$636$356
29 years$2,278$1,653$1,179$828$574$314
30 years$2,178$1,561$1,098$760$519$276
31 years$2,085$1,476$1,024$698$469$243
32 years$1,998$1,397$955$641$424$214
33 years$1,916$1,323$892$590$384$189
34 years$1,840$1,254$833$543$348$167
35 years$1,767$1,189$779$499$315$147
36 years$1,699$1,129$729$460$285$130
37 years$1,635$1,072$682$424$259$114
38 years$1,575$1,019$639$391$234$101
39 years$1,517$969$598$360$213$89
40 years$1,463$922$561$332$193$79
41 years$1,411$877$526$306$175$69
42 years$1,362$835$493$283$159$61
43 years$1,316$796$463$261$144$54
44 years$1,271$759$435$241$131$48
45 years$1,229$724$408$223$119$42
46 years$1,189$690$383$206$108$37
47 years$1,150$659$360$190$98$33
48 years$1,113$629$338$176$89$29
49 years$1,078$600$318$162$81$26
50 years$1,045$574$299$150$73$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $1,070,000, adding $4,401 every year, while hoping to spend $52,424 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: 60/35/5 Blend
62$1,070,000$1,070,000$1,070,000$1,070,000
63$1,183,680$1,126,970$1,110,385$1,253,432
64$1,248,636$1,126,412$1,091,804$1,300,043
65$1,318,461$1,124,071$1,070,843$1,344,409
66$1,393,596$1,119,802$1,047,369$1,391,453
67$1,474,526$1,113,455$1,021,238$1,441,433
68$1,561,781$1,104,868$992,303$1,494,633
69$1,655,948$1,093,872$960,410$1,551,369
70$1,757,668$1,080,285$925,397$1,611,993
71$1,867,647$1,063,915$887,095$1,676,891
72$1,986,660$1,044,561$845,326$1,746,493
73$2,115,562$1,022,006$799,907$1,821,275
74$2,255,288$996,024$750,643$1,901,763
75$2,406,871$966,372$697,333$1,988,540
76$2,571,443$932,797$639,765$2,082,251
77$2,750,253$895,026$577,720$2,183,610
78$2,944,672$852,776$510,967$2,293,409
79$3,156,209$805,742$439,265$2,412,521
80$3,386,526$753,607$362,363$2,541,914
81$3,637,448$696,030$279,999$2,682,660
82$3,910,988$632,656$191,900$2,835,942
83$4,209,359$563,106$97,778$3,003,071
84$4,534,995$486,980$0$3,185,496
85$4,890,580$403,857$0$3,384,961
86$5,279,064$313,291$0$3,608,671
87$5,703,698$214,811$0$3,853,380
88$6,168,058$107,920$0$4,121,272
89$6,676,085$0$0$4,414,758
90$7,232,115$0$0$4,739,548
91$7,840,925$0$0$5,140,760
92$8,507,774$0$0$5,580,305
93$9,238,454$0$0$6,062,012
94$10,039,345$0$0$6,590,098
95$10,917,472$0$0$7,169,206
96$11,880,573$0$0$7,804,451
97$12,937,169$0$0$8,501,467
98$14,096,649$0$0$9,266,458
99$15,369,352$0$0$10,106,261
100$16,766,668$0$0$11,028,404