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%15%
1 years$89,185$88,391$87,616$86,859$86,121$84,347
2 years$44,151$43,329$42,532$41,759$41,010$39,231
3 years$29,142$28,316$27,521$26,756$26,018$24,290
4 years$21,638$20,815$20,028$19,276$18,557$16,892
5 years$17,138$16,319$15,543$14,806$14,106$12,510
6 years$14,138$13,326$12,561$11,840$11,162$9,636
7 years$11,997$11,191$10,438$9,735$9,078$7,622
8 years$10,391$9,593$8,852$8,166$7,531$6,145
9 years$9,143$8,352$7,625$6,956$6,342$5,025
10 years$8,145$7,362$6,647$5,996$5,404$4,154
11 years$7,329$6,554$5,852$5,218$4,647$3,464
12 years$6,650$5,883$5,194$4,577$4,027$2,908
13 years$6,075$5,316$4,640$4,041$3,512$2,455
14 years$5,583$4,832$4,169$3,587$3,078$2,082
15 years$5,157$4,414$3,764$3,199$2,711$1,773
16 years$4,785$4,050$3,413$2,864$2,396$1,514
17 years$4,457$3,730$3,106$2,574$2,124$1,296
18 years$4,165$3,447$2,835$2,319$1,889$1,112
19 years$3,905$3,194$2,595$2,096$1,683$956
20 years$3,671$2,968$2,382$1,898$1,504$823
21 years$3,459$2,765$2,191$1,723$1,346$710
22 years$3,267$2,581$2,019$1,566$1,206$613
23 years$3,092$2,414$1,864$1,426$1,083$530
24 years$2,932$2,262$1,724$1,301$973$458
25 years$2,784$2,122$1,597$1,188$876$396
26 years$2,649$1,995$1,481$1,086$789$343
27 years$2,523$1,877$1,375$994$711$297
28 years$2,407$1,769$1,279$911$642$258
29 years$2,299$1,669$1,190$835$579$224
30 years$2,198$1,576$1,108$767$524$194
31 years$2,104$1,490$1,033$704$473$168
32 years$2,017$1,410$964$647$428$146
33 years$1,934$1,335$900$595$387$127
34 years$1,857$1,265$841$548$351$110
35 years$1,784$1,200$786$504$318$96
36 years$1,715$1,139$736$464$288$83
37 years$1,651$1,082$688$428$261$72
38 years$1,589$1,028$645$394$237$63
39 years$1,531$978$604$364$215$55
40 years$1,477$930$566$335$195$47
41 years$1,424$885$531$309$177$41
42 years$1,375$843$498$285$160$36
43 years$1,328$803$467$264$145$31
44 years$1,283$766$439$243$132$27
45 years$1,241$730$412$225$120$24
46 years$1,200$697$387$208$109$20
47 years$1,161$665$363$192$99$18
48 years$1,124$635$341$177$90$15
49 years$1,088$606$321$164$81$13
50 years$1,054$579$302$151$74$12

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 $2,906 every year, while hoping to spend $47,294 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$1,080,000$1,080,000$1,080,000$1,080,000
63$1,193,158$1,135,918$1,119,178$1,263,562
64$1,264,539$1,141,257$1,106,350$1,316,323
65$1,341,617$1,145,273$1,091,507$1,368,121
66$1,424,921$1,147,851$1,074,532$1,423,402
67$1,515,036$1,148,869$1,055,301$1,482,501
68$1,612,603$1,148,196$1,033,687$1,545,788
69$1,718,327$1,145,697$1,009,554$1,613,671
70$1,832,984$1,141,224$982,762$1,686,604
71$1,957,427$1,134,622$953,163$1,765,085
72$2,092,594$1,125,728$920,604$1,849,667
73$2,239,516$1,114,366$884,921$1,940,959
74$2,399,329$1,100,352$845,948$2,039,636
75$2,573,281$1,083,490$803,508$2,146,442
76$2,762,747$1,063,572$757,417$2,262,201
77$2,969,238$1,040,379$707,482$2,387,821
78$3,194,420$1,013,677$653,502$2,524,308
79$3,440,123$983,219$595,266$2,672,771
80$3,708,364$948,745$532,556$2,834,436
81$4,001,362$909,978$465,141$3,010,657
82$4,321,560$866,626$392,783$3,202,932
83$4,671,648$818,380$315,230$3,412,910
84$5,054,587$764,912$232,222$3,642,418
85$5,473,639$705,877$143,485$3,893,471
86$5,932,395$640,909$48,736$4,168,294
87$6,434,807$569,621$0$4,469,345
88$6,985,230$491,606$0$4,802,130
89$7,588,460$406,431$0$5,169,809
90$8,249,778$313,641$0$5,573,102
91$8,974,999$212,754$0$6,015,678
92$9,770,532$103,261$0$6,501,588
93$10,643,431$0$0$7,035,299
94$11,601,470$0$0$7,627,664
95$12,653,209$0$0$8,321,712
96$13,808,080$0$0$9,083,908
97$15,076,471$0$0$9,921,120
98$16,469,828$0$0$10,840,913
99$18,000,757$0$0$11,851,621
100$19,683,147$0$0$12,962,428