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

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 $1,070,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$88,360$87,573$86,805$86,055$85,323$83,841
2 years$43,742$42,928$42,138$41,373$40,630$39,141
3 years$28,872$28,054$27,266$26,508$25,777$24,329
4 years$21,438$20,622$19,843$19,097$18,385$16,987
5 years$16,979$16,168$15,399$14,669$13,976$12,634
6 years$14,007$13,203$12,445$11,731$11,059$9,773
7 years$11,885$11,088$10,341$9,644$8,994$7,765
8 years$10,295$9,504$8,770$8,090$7,461$6,290
9 years$9,058$8,275$7,554$6,891$6,283$5,168
10 years$8,070$7,294$6,586$5,940$5,354$4,294
11 years$7,261$6,493$5,798$5,170$4,604$3,598
12 years$6,588$5,828$5,146$4,535$3,990$3,037
13 years$6,019$5,267$4,597$4,003$3,479$2,577
14 years$5,531$4,788$4,131$3,554$3,050$2,198
15 years$5,109$4,373$3,729$3,169$2,685$1,881
16 years$4,741$4,013$3,381$2,838$2,373$1,616
17 years$4,415$3,695$3,077$2,550$2,104$1,391
18 years$4,127$3,415$2,809$2,298$1,871$1,201
19 years$3,869$3,165$2,571$2,076$1,668$1,039
20 years$3,637$2,941$2,360$1,880$1,490$900
21 years$3,427$2,739$2,171$1,707$1,333$780
22 years$3,237$2,557$2,000$1,552$1,195$678
23 years$3,063$2,392$1,847$1,413$1,073$589
24 years$2,904$2,241$1,708$1,289$964$513
25 years$2,759$2,103$1,582$1,177$868$447
26 years$2,624$1,976$1,467$1,076$781$389
27 years$2,500$1,860$1,363$985$705$340
28 years$2,385$1,753$1,267$903$636$296
29 years$2,278$1,653$1,179$828$574$259
30 years$2,178$1,561$1,098$760$519$226
31 years$2,085$1,476$1,024$698$469$197
32 years$1,998$1,397$955$641$424$172
33 years$1,916$1,323$892$590$384$151
34 years$1,840$1,254$833$543$348$132
35 years$1,767$1,189$779$499$315$115
36 years$1,699$1,129$729$460$285$101
37 years$1,635$1,072$682$424$259$88
38 years$1,575$1,019$639$391$234$77
39 years$1,517$969$598$360$213$67
40 years$1,463$922$561$332$193$59
41 years$1,411$877$526$306$175$52
42 years$1,362$835$493$283$159$45
43 years$1,316$796$463$261$144$40
44 years$1,271$759$435$241$131$35
45 years$1,229$724$408$223$119$30
46 years$1,189$690$383$206$108$27
47 years$1,150$659$360$190$98$23
48 years$1,113$629$338$176$89$20
49 years$1,078$600$318$162$81$18
50 years$1,045$574$299$150$73$16

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 $3,450 every year, while hoping to spend $26,683 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: 61/29/10 Blend
62$1,070,000$1,070,000$1,070,000$1,070,000
63$1,182,699$1,125,989$1,109,404$1,251,944
64$1,274,943$1,152,772$1,118,178$1,325,556
65$1,375,703$1,179,973$1,126,352$1,402,479
66$1,485,817$1,207,584$1,133,878$1,485,751
67$1,606,212$1,235,597$1,140,704$1,575,986
68$1,737,905$1,264,001$1,146,777$1,673,860
69$1,882,019$1,292,784$1,152,042$1,780,117
70$2,039,788$1,321,933$1,156,438$1,895,577
71$2,212,572$1,351,434$1,159,904$2,021,145
72$2,401,869$1,381,269$1,162,376$2,157,814
73$2,609,328$1,411,419$1,163,784$2,306,681
74$2,836,765$1,441,865$1,164,057$2,468,954
75$3,086,182$1,472,583$1,163,119$2,645,962
76$3,359,782$1,503,549$1,160,893$2,839,171
77$3,659,991$1,534,734$1,157,294$3,050,196
78$3,989,483$1,566,109$1,152,236$3,280,816
79$4,351,202$1,597,641$1,145,629$3,532,991
80$4,748,393$1,629,293$1,137,376$3,808,880
81$5,184,629$1,661,028$1,127,377$4,110,864
82$5,663,845$1,692,803$1,115,528$4,441,566
83$6,190,379$1,724,572$1,101,720$4,803,874
84$6,769,007$1,756,285$1,085,837$5,200,974
85$7,404,992$1,787,889$1,067,759$5,636,374
86$8,104,132$1,819,327$1,047,360$6,113,943
87$8,872,815$1,850,536$1,024,508$6,637,940
88$9,718,079$1,881,448$999,066$7,213,064
89$10,647,677$1,911,994$970,889$7,844,488
90$11,670,152$1,942,094$939,826$8,537,918
91$12,794,917$1,971,665$905,719$9,299,638
92$14,032,342$2,000,620$868,404$10,136,577
93$15,393,853$2,028,863$827,707$11,056,367
94$16,892,039$2,056,291$783,449$12,067,423
95$18,540,774$2,082,795$735,441$13,179,018
96$20,355,340$2,108,259$683,485$14,401,369
97$22,352,579$2,132,558$627,376$15,745,738
98$24,551,047$2,155,559$566,899$17,224,538
99$26,971,193$2,177,120$501,829$18,851,447
100$29,635,545$2,197,090$431,931$20,641,541