Can I retire at age 63 with 1,110,000?

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 $1,110,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$91,663$90,846$90,050$89,272$88,513$87,118
2 years$45,378$44,532$43,713$42,919$42,149$40,748
3 years$29,951$29,102$28,285$27,499$26,741$25,376
4 years$22,240$21,393$20,585$19,811$19,072$17,755
5 years$17,614$16,773$15,974$15,217$14,498$13,232
6 years$14,531$13,696$12,910$12,169$11,472$10,258
7 years$12,330$11,502$10,728$10,005$9,330$8,169
8 years$10,680$9,859$9,098$8,393$7,740$6,632
9 years$9,397$8,584$7,836$7,149$6,518$5,462
10 years$8,371$7,567$6,832$6,162$5,554$4,549
11 years$7,533$6,736$6,015$5,363$4,776$3,822
12 years$6,834$6,046$5,338$4,704$4,139$3,234
13 years$6,244$5,464$4,769$4,153$3,609$2,752
14 years$5,738$4,966$4,285$3,687$3,164$2,353
15 years$5,300$4,537$3,869$3,288$2,786$2,020
16 years$4,918$4,163$3,508$2,944$2,462$1,739
17 years$4,580$3,834$3,192$2,645$2,183$1,502
18 years$4,281$3,542$2,914$2,384$1,941$1,300
19 years$4,013$3,283$2,667$2,154$1,730$1,128
20 years$3,773$3,051$2,448$1,951$1,545$980
21 years$3,555$2,842$2,252$1,770$1,383$853
22 years$3,358$2,653$2,075$1,610$1,240$743
23 years$3,178$2,481$1,916$1,466$1,113$648
24 years$3,013$2,324$1,772$1,337$1,000$566
25 years$2,862$2,181$1,641$1,221$900$494
26 years$2,722$2,050$1,522$1,117$811$432
27 years$2,593$1,929$1,414$1,022$731$378
28 years$2,474$1,818$1,314$936$660$331
29 years$2,363$1,715$1,223$859$596$290
30 years$2,259$1,620$1,139$788$538$254
31 years$2,163$1,531$1,062$724$486$223
32 years$2,073$1,449$991$665$440$195
33 years$1,988$1,372$925$612$398$171
34 years$1,908$1,300$864$563$361$150
35 years$1,833$1,233$808$518$327$132
36 years$1,763$1,171$756$477$296$116
37 years$1,696$1,112$708$440$268$101
38 years$1,633$1,057$663$405$243$89
39 years$1,574$1,005$621$374$220$78
40 years$1,518$956$582$345$200$69
41 years$1,464$910$546$318$181$60
42 years$1,413$867$512$293$165$53
43 years$1,365$826$480$271$149$47
44 years$1,319$787$451$250$136$41
45 years$1,275$751$423$231$123$36
46 years$1,233$716$398$213$112$32
47 years$1,193$683$373$197$102$28
48 years$1,155$652$351$182$92$24
49 years$1,119$623$330$168$84$21
50 years$1,084$595$310$156$76$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $1,110,000, adding $4,464 every year, while hoping to spend $58,159 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: 75/6/19 Blend
62$1,110,000$1,110,000$1,110,000$1,110,000
63$1,227,825$1,168,995$1,151,790$1,314,150
64$1,291,182$1,164,395$1,128,494$1,367,355
65$1,359,053$1,157,620$1,102,468$1,418,081
66$1,431,835$1,148,503$1,073,560$1,472,158
67$1,509,968$1,136,865$1,041,610$1,529,906
68$1,593,931$1,122,517$1,006,450$1,591,678
69$1,684,251$1,105,260$967,906$1,657,862
70$1,781,508$1,084,881$925,794$1,728,888
71$1,886,337$1,061,155$879,923$1,805,230
72$1,999,437$1,033,845$830,094$1,887,411
73$2,121,575$1,002,699$776,097$1,976,009
74$2,253,594$967,450$717,715$2,071,661
75$2,396,421$927,815$654,719$2,175,071
76$2,551,074$883,497$586,871$2,287,015
77$2,718,674$834,179$513,921$2,408,350
78$2,900,452$779,527$435,611$2,540,023
79$3,097,763$719,188$351,668$2,683,077
80$3,312,095$652,788$261,809$2,838,664
81$3,545,087$579,934$165,739$3,008,057
82$3,798,542$500,207$63,147$3,192,657
83$4,074,443$413,166$0$3,394,014
84$4,374,972$318,347$0$3,623,230
85$4,702,531$215,258$0$3,887,068
86$5,059,762$103,378$0$4,174,864
87$5,449,574$0$0$4,488,988
88$5,875,168$0$0$4,833,226
89$6,340,071$0$0$5,216,756
90$6,848,160$0$0$5,635,958
91$7,403,709$0$0$6,094,362
92$8,011,421$0$0$6,595,854
93$8,676,474$0$0$7,144,714
94$9,404,571$0$0$7,745,655
95$10,201,991$0$0$8,403,866
96$11,075,650$0$0$9,125,060
97$12,033,164$0$0$9,915,533
98$13,082,920$0$0$10,782,215
99$14,234,155$0$0$11,732,740
100$15,497,045$0$0$12,775,517