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

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 $1,080,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.4%
1 years$89,185$88,391$87,616$86,859$86,121$83,531
2 years$44,151$43,329$42,532$41,759$41,010$38,423
3 years$29,142$28,316$27,521$26,756$26,018$23,515
4 years$21,638$20,815$20,028$19,276$18,557$16,156
5 years$17,138$16,319$15,543$14,806$14,106$11,815
6 years$14,138$13,326$12,561$11,840$11,162$8,982
7 years$11,997$11,191$10,438$9,735$9,078$7,009
8 years$10,391$9,593$8,852$8,166$7,531$5,572
9 years$9,143$8,352$7,625$6,956$6,342$4,491
10 years$8,145$7,362$6,647$5,996$5,404$3,658
11 years$7,329$6,554$5,852$5,218$4,647$3,004
12 years$6,650$5,883$5,194$4,577$4,027$2,482
13 years$6,075$5,316$4,640$4,041$3,512$2,062
14 years$5,583$4,832$4,169$3,587$3,078$1,720
15 years$5,157$4,414$3,764$3,199$2,711$1,440
16 years$4,785$4,050$3,413$2,864$2,396$1,209
17 years$4,457$3,730$3,106$2,574$2,124$1,017
18 years$4,165$3,447$2,835$2,319$1,889$858
19 years$3,905$3,194$2,595$2,096$1,683$724
20 years$3,671$2,968$2,382$1,898$1,504$612
21 years$3,459$2,765$2,191$1,723$1,346$518
22 years$3,267$2,581$2,019$1,566$1,206$439
23 years$3,092$2,414$1,864$1,426$1,083$372
24 years$2,932$2,262$1,724$1,301$973$316
25 years$2,784$2,122$1,597$1,188$876$268
26 years$2,649$1,995$1,481$1,086$789$228
27 years$2,523$1,877$1,375$994$711$194
28 years$2,407$1,769$1,279$911$642$165
29 years$2,299$1,669$1,190$835$579$140
30 years$2,198$1,576$1,108$767$524$119
31 years$2,104$1,490$1,033$704$473$101
32 years$2,017$1,410$964$647$428$86
33 years$1,934$1,335$900$595$387$73
34 years$1,857$1,265$841$548$351$62
35 years$1,784$1,200$786$504$318$53
36 years$1,715$1,139$736$464$288$45
37 years$1,651$1,082$688$428$261$39
38 years$1,589$1,028$645$394$237$33
39 years$1,531$978$604$364$215$28
40 years$1,477$930$566$335$195$24
41 years$1,424$885$531$309$177$20
42 years$1,375$843$498$285$160$17
43 years$1,328$803$467$264$145$15
44 years$1,283$766$439$243$132$13
45 years$1,241$730$412$225$120$11
46 years$1,200$697$387$208$109$9
47 years$1,161$665$363$192$99$8
48 years$1,124$635$341$177$90$7
49 years$1,088$606$321$164$81$6
50 years$1,054$579$302$151$74$5

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 $5,637 every year, while hoping to spend $23,239 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: 35/42/23 Blend
62$1,080,000$1,080,000$1,080,000$1,080,000
63$1,195,975$1,138,735$1,121,995$1,229,323
64$1,293,238$1,169,806$1,134,855$1,285,538
65$1,399,643$1,201,622$1,147,368$1,343,620
66$1,516,098$1,234,193$1,159,496$1,405,821
67$1,643,603$1,267,531$1,171,202$1,472,524
68$1,783,259$1,301,649$1,182,446$1,544,148
69$1,936,278$1,336,556$1,193,184$1,621,155
70$2,103,995$1,372,264$1,203,372$1,704,056
71$2,287,881$1,408,783$1,212,964$1,793,411
72$2,489,556$1,446,124$1,221,909$1,889,837
73$2,710,803$1,484,297$1,230,156$1,994,014
74$2,953,588$1,523,311$1,237,649$2,106,692
75$3,220,075$1,563,174$1,244,331$2,228,695
76$3,512,648$1,603,895$1,250,142$2,360,933
77$3,833,933$1,645,481$1,255,017$2,504,406
78$4,186,824$1,687,940$1,258,890$2,660,217
79$4,574,508$1,731,276$1,261,690$2,829,583
80$5,000,495$1,775,496$1,263,344$3,013,840
81$5,468,653$1,820,603$1,263,774$3,214,466
82$5,983,244$1,866,601$1,262,898$3,433,086
83$6,548,962$1,913,491$1,260,633$3,671,491
84$7,170,979$1,961,275$1,256,887$3,931,655
85$7,854,993$2,009,952$1,251,567$4,215,754
86$8,607,283$2,059,521$1,244,575$4,526,185
87$9,434,766$2,109,977$1,235,809$4,865,590
88$10,345,063$2,161,317$1,225,159$5,236,880
89$11,346,570$2,213,532$1,212,512$5,643,265
90$12,448,540$2,266,615$1,197,751$6,088,282
91$13,661,166$2,320,554$1,180,751$6,575,827
92$14,995,681$2,375,337$1,161,382$7,110,196
93$16,464,460$2,430,948$1,139,508$7,696,125
94$18,081,140$2,487,369$1,114,986$8,338,830
95$19,860,746$2,544,580$1,087,668$9,044,063
96$21,819,835$2,602,558$1,057,398$9,818,162
97$23,976,650$2,661,275$1,024,013$10,668,114
98$26,351,292$2,720,702$987,341$11,601,618
99$28,965,913$2,780,805$947,206$12,627,160
100$31,844,918$2,841,546$903,420$13,754,093