Can I retire at age 63 with 1,080,000?

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 $1,080,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.6%
1 years$89,185$88,391$87,616$86,859$86,121$84,141
2 years$44,151$43,329$42,532$41,759$41,010$39,027
3 years$29,142$28,316$27,521$26,756$26,018$24,093
4 years$21,638$20,815$20,028$19,276$18,557$16,704
5 years$17,138$16,319$15,543$14,806$14,106$12,332
6 years$14,138$13,326$12,561$11,840$11,162$9,468
7 years$11,997$11,191$10,438$9,735$9,078$7,463
8 years$10,391$9,593$8,852$8,166$7,531$5,996
9 years$9,143$8,352$7,625$6,956$6,342$4,886
10 years$8,145$7,362$6,647$5,996$5,404$4,024
11 years$7,329$6,554$5,852$5,218$4,647$3,343
12 years$6,650$5,883$5,194$4,577$4,027$2,796
13 years$6,075$5,316$4,640$4,041$3,512$2,351
14 years$5,583$4,832$4,169$3,587$3,078$1,986
15 years$5,157$4,414$3,764$3,199$2,711$1,683
16 years$4,785$4,050$3,413$2,864$2,396$1,431
17 years$4,457$3,730$3,106$2,574$2,124$1,220
18 years$4,165$3,447$2,835$2,319$1,889$1,043
19 years$3,905$3,194$2,595$2,096$1,683$892
20 years$3,671$2,968$2,382$1,898$1,504$765
21 years$3,459$2,765$2,191$1,723$1,346$656
22 years$3,267$2,581$2,019$1,566$1,206$564
23 years$3,092$2,414$1,864$1,426$1,083$485
24 years$2,932$2,262$1,724$1,301$973$418
25 years$2,784$2,122$1,597$1,188$876$360
26 years$2,649$1,995$1,481$1,086$789$310
27 years$2,523$1,877$1,375$994$711$267
28 years$2,407$1,769$1,279$911$642$231
29 years$2,299$1,669$1,190$835$579$199
30 years$2,198$1,576$1,108$767$524$172
31 years$2,104$1,490$1,033$704$473$148
32 years$2,017$1,410$964$647$428$128
33 years$1,934$1,335$900$595$387$111
34 years$1,857$1,265$841$548$351$96
35 years$1,784$1,200$786$504$318$83
36 years$1,715$1,139$736$464$288$71
37 years$1,651$1,082$688$428$261$62
38 years$1,589$1,028$645$394$237$53
39 years$1,531$978$604$364$215$46
40 years$1,477$930$566$335$195$40
41 years$1,424$885$531$309$177$35
42 years$1,375$843$498$285$160$30
43 years$1,328$803$467$264$145$26
44 years$1,283$766$439$243$132$22
45 years$1,241$730$412$225$120$19
46 years$1,200$697$387$208$109$17
47 years$1,161$665$363$192$99$14
48 years$1,124$635$341$177$90$12
49 years$1,088$606$321$164$81$11
50 years$1,054$579$302$151$74$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $1,080,000, adding $3,690 every year, while hoping to spend $32,819 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: 59/19/22 Blend
62$1,080,000$1,080,000$1,080,000$1,080,000
63$1,193,966$1,136,726$1,119,986$1,257,213
64$1,280,832$1,157,507$1,122,587$1,321,400
65$1,375,457$1,178,205$1,124,174$1,387,495
66$1,478,600$1,198,784$1,124,680$1,458,860
67$1,591,093$1,219,200$1,124,033$1,536,013
68$1,713,854$1,239,410$1,122,157$1,619,523
69$1,847,890$1,259,364$1,118,973$1,710,020
70$1,994,314$1,279,012$1,114,397$1,808,196
71$2,154,348$1,298,298$1,108,344$1,914,817
72$2,329,339$1,317,162$1,100,721$2,030,724
73$2,520,770$1,335,540$1,091,432$2,156,848
74$2,730,272$1,353,366$1,080,379$2,294,213
75$2,959,643$1,370,564$1,067,456$2,443,950
76$3,210,863$1,387,058$1,052,552$2,607,307
77$3,486,112$1,402,765$1,035,553$2,785,656
78$3,787,790$1,417,595$1,016,339$2,980,514
79$4,118,541$1,431,454$994,782$3,193,553
80$4,481,277$1,444,240$970,753$3,426,617
81$4,879,206$1,455,846$944,111$3,681,736
82$5,315,860$1,466,157$914,713$3,961,154
83$5,795,130$1,475,051$882,409$4,267,341
84$6,321,302$1,482,398$847,039$4,603,023
85$6,899,100$1,488,060$808,439$4,971,204
86$7,533,722$1,491,889$766,436$5,375,198
87$8,230,900$1,493,730$720,850$5,818,659
88$8,996,946$1,493,417$671,492$6,305,614
89$9,838,812$1,490,772$618,165$6,840,505
90$10,764,161$1,485,610$560,664$7,428,228
91$11,781,431$1,477,731$498,772$8,074,184
92$12,899,922$1,466,924$432,266$8,784,324
93$14,129,878$1,452,967$360,910$9,565,212
94$15,482,585$1,435,622$284,460$10,424,084
95$16,970,479$1,414,638$202,661$11,368,916
96$18,607,262$1,389,750$115,243$12,408,504
97$20,408,029$1,360,674$21,931$13,552,543
98$22,389,413$1,327,112$0$14,811,723
99$24,569,742$1,288,749$0$16,216,053
100$26,969,206$1,245,248$0$17,766,977