Can I retire at age 63 with 1,120,000?

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 $1,120,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.4%
1 years$92,489$91,665$90,861$90,076$89,310$87,329
2 years$45,786$44,934$44,107$43,306$42,529$40,543
3 years$30,221$29,365$28,540$27,747$26,982$25,053
4 years$22,440$21,586$20,770$19,990$19,244$17,387
5 years$17,772$16,924$16,118$15,354$14,629$12,850
6 years$14,662$13,820$13,026$12,279$11,575$9,876
7 years$12,441$11,606$10,825$10,095$9,414$7,794
8 years$10,776$9,948$9,180$8,469$7,810$6,269
9 years$9,482$8,662$7,907$7,213$6,577$5,114
10 years$8,447$7,635$6,893$6,218$5,604$4,218
11 years$7,601$6,797$6,069$5,411$4,819$3,508
12 years$6,896$6,100$5,386$4,747$4,176$2,938
13 years$6,300$5,513$4,812$4,191$3,642$2,474
14 years$5,790$5,011$4,324$3,720$3,193$2,092
15 years$5,348$4,578$3,904$3,317$2,811$1,776
16 years$4,962$4,200$3,539$2,970$2,484$1,512
17 years$4,622$3,868$3,221$2,669$2,203$1,291
18 years$4,319$3,574$2,940$2,405$1,959$1,105
19 years$4,049$3,313$2,691$2,173$1,746$947
20 years$3,807$3,078$2,470$1,968$1,559$813
21 years$3,587$2,867$2,272$1,786$1,395$699
22 years$3,388$2,677$2,094$1,624$1,251$601
23 years$3,206$2,503$1,933$1,479$1,123$518
24 years$3,040$2,345$1,788$1,349$1,009$447
25 years$2,888$2,201$1,656$1,232$908$385
26 years$2,747$2,069$1,536$1,127$818$333
27 years$2,617$1,947$1,426$1,031$737$287
28 years$2,496$1,834$1,326$945$665$248
29 years$2,384$1,731$1,234$866$601$215
30 years$2,280$1,634$1,149$795$543$186
31 years$2,182$1,545$1,071$730$491$160
32 years$2,091$1,462$1,000$671$444$139
33 years$2,006$1,384$933$617$402$120
34 years$1,925$1,312$872$568$364$104
35 years$1,850$1,245$815$523$330$90
36 years$1,779$1,181$763$481$299$78
37 years$1,712$1,122$714$444$271$67
38 years$1,648$1,066$669$409$245$58
39 years$1,588$1,014$626$377$222$51
40 years$1,531$965$587$348$202$44
41 years$1,477$918$551$321$183$38
42 years$1,426$874$516$296$166$33
43 years$1,377$833$485$273$151$28
44 years$1,331$794$455$252$137$25
45 years$1,286$757$427$233$124$21
46 years$1,244$723$401$215$113$19
47 years$1,204$689$377$199$102$16
48 years$1,166$658$354$184$93$14
49 years$1,129$629$333$170$84$12
50 years$1,094$600$313$157$77$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $1,120,000, adding $5,243 every year, while hoping to spend $20,388 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: 54/40/6 Blend
62$1,120,000$1,120,000$1,120,000$1,120,000
63$1,239,648$1,180,288$1,162,928$1,304,637
64$1,344,400$1,216,430$1,180,194$1,385,287
65$1,459,152$1,253,659$1,197,354$1,470,311
66$1,584,905$1,292,007$1,214,385$1,562,346
67$1,722,757$1,331,508$1,231,259$1,662,055
68$1,873,921$1,372,194$1,247,948$1,770,174
69$2,039,729$1,414,100$1,264,423$1,887,508
70$2,221,653$1,457,261$1,280,652$2,014,945
71$2,421,309$1,501,715$1,296,601$2,153,461
72$2,640,481$1,547,497$1,312,236$2,304,131
73$2,881,133$1,594,647$1,327,518$2,468,137
74$3,145,428$1,643,205$1,342,410$2,646,781
75$3,435,749$1,693,209$1,356,868$2,841,496
76$3,754,722$1,744,703$1,370,850$3,053,858
77$4,105,239$1,797,729$1,384,309$3,285,603
78$4,490,486$1,852,330$1,397,195$3,538,644
79$4,913,973$1,908,552$1,409,459$3,815,085
80$5,379,568$1,966,441$1,421,046$4,117,243
81$5,891,531$2,026,043$1,431,898$4,447,671
82$6,454,556$2,087,409$1,441,956$4,809,177
83$7,073,817$2,150,587$1,451,157$5,204,858
84$7,755,009$2,215,630$1,459,434$5,638,122
85$8,504,413$2,282,589$1,466,718$6,112,722
86$9,328,946$2,351,518$1,472,936$6,632,794
87$10,236,229$2,422,473$1,478,009$7,202,891
88$11,234,660$2,495,510$1,481,859$7,828,029
89$12,333,493$2,570,687$1,484,398$8,513,735
90$13,542,923$2,648,065$1,485,539$9,266,095
91$14,874,184$2,727,703$1,485,188$10,091,814
92$16,339,656$2,809,665$1,483,247$10,998,278
93$17,952,977$2,894,015$1,479,612$11,993,626
94$19,729,177$2,980,818$1,474,175$13,086,822
95$21,684,817$3,070,142$1,466,824$14,287,741
96$23,838,145$3,162,056$1,457,439$15,607,266
97$26,209,269$3,256,630$1,445,897$17,057,383
98$28,820,346$3,353,936$1,432,066$18,651,301
99$31,695,792$3,454,050$1,415,811$20,403,571
100$34,862,509$3,557,045$1,396,987$22,330,226