Can I retire at age 63 with 1,160,000?

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 $1,160,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$95,792$94,938$94,106$93,293$92,500$91,496
2 years$47,422$46,538$45,683$44,853$44,048$43,037
3 years$31,300$30,413$29,560$28,738$27,946$26,959
4 years$23,241$22,357$21,512$20,704$19,931$18,977
5 years$18,407$17,528$16,694$15,902$15,151$14,232
6 years$15,185$14,313$13,491$12,717$11,989$11,105
7 years$12,885$12,020$11,211$10,456$9,750$8,903
8 years$11,161$10,303$9,508$8,771$8,089$7,278
9 years$9,820$8,971$8,189$7,471$6,812$6,037
10 years$8,748$7,908$7,140$6,440$5,804$5,065
11 years$7,872$7,040$6,286$5,605$4,992$4,287
12 years$7,142$6,318$5,578$4,916$4,326$3,655
13 years$6,525$5,710$4,984$4,340$3,772$3,135
14 years$5,997$5,190$4,478$3,853$3,307$2,702
15 years$5,539$4,741$4,043$3,436$2,911$2,338
16 years$5,139$4,350$3,666$3,077$2,573$2,031
17 years$4,787$4,006$3,336$2,764$2,281$1,768
18 years$4,474$3,702$3,045$2,491$2,029$1,544
19 years$4,194$3,431$2,788$2,251$1,808$1,351
20 years$3,942$3,188$2,558$2,039$1,615$1,184
21 years$3,715$2,970$2,353$1,850$1,445$1,040
22 years$3,509$2,772$2,169$1,682$1,295$914
23 years$3,321$2,593$2,002$1,532$1,163$805
24 years$3,149$2,429$1,852$1,397$1,045$709
25 years$2,991$2,280$1,715$1,276$941$626
26 years$2,845$2,143$1,591$1,167$847$552
27 years$2,710$2,016$1,477$1,068$764$488
28 years$2,585$1,900$1,373$979$689$431
29 years$2,469$1,792$1,278$897$622$381
30 years$2,361$1,693$1,190$824$562$337
31 years$2,260$1,600$1,110$756$508$299
32 years$2,166$1,514$1,035$695$460$264
33 years$2,077$1,434$967$639$416$234
34 years$1,994$1,359$903$588$377$208
35 years$1,916$1,289$844$541$341$184
36 years$1,842$1,223$790$499$309$163
37 years$1,773$1,162$739$459$280$145
38 years$1,707$1,104$692$423$254$128
39 years$1,645$1,050$649$390$230$114
40 years$1,586$999$608$360$209$101
41 years$1,530$951$570$332$190$90
42 years$1,477$906$535$307$172$79
43 years$1,426$863$502$283$156$71
44 years$1,378$823$471$261$142$63
45 years$1,332$784$442$241$129$56
46 years$1,289$748$415$223$117$49
47 years$1,247$714$390$206$106$44
48 years$1,207$682$367$190$96$39
49 years$1,169$651$345$176$87$34
50 years$1,133$622$324$163$79$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $1,160,000, adding $4,955 every year, while hoping to spend $30,275 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: 53/41/6 Blend
62$1,160,000$1,160,000$1,160,000$1,160,000
63$1,283,431$1,221,951$1,203,971$1,349,419
64$1,382,129$1,249,614$1,212,092$1,422,308
65$1,489,879$1,277,618$1,219,470$1,497,819
66$1,607,573$1,305,948$1,226,048$1,579,232
67$1,736,192$1,334,586$1,231,768$1,667,107
68$1,876,816$1,363,514$1,236,565$1,762,064
69$2,030,636$1,392,710$1,240,374$1,864,784
70$2,198,960$1,422,153$1,243,126$1,976,020
71$2,383,231$1,451,815$1,244,748$2,096,596
72$2,585,038$1,481,671$1,245,164$2,227,426
73$2,806,127$1,511,689$1,244,293$2,369,511
74$3,048,427$1,541,836$1,242,051$2,523,958
75$3,314,058$1,572,077$1,238,351$2,691,984
76$3,605,355$1,602,373$1,233,099$2,874,932
77$3,924,893$1,632,681$1,226,200$3,074,281
78$4,275,505$1,662,955$1,217,551$3,291,660
79$4,660,314$1,693,146$1,207,045$3,528,864
80$5,082,757$1,723,201$1,194,572$3,787,871
81$5,546,622$1,753,063$1,180,015$4,070,864
82$6,056,083$1,782,668$1,163,250$4,380,244
83$6,615,735$1,811,950$1,144,151$4,718,659
84$7,230,643$1,840,839$1,122,583$5,089,028
85$7,906,384$1,869,256$1,098,405$5,494,568
86$8,649,105$1,897,119$1,071,471$5,938,824
87$9,465,576$1,924,340$1,041,628$6,425,702
88$10,363,256$1,950,824$1,008,714$6,959,508
89$11,350,364$1,976,470$972,561$7,544,989
90$12,435,953$2,001,169$932,994$8,187,375
91$13,630,000$2,024,806$889,829$8,892,433
92$14,943,495$2,047,257$842,874$9,666,516
93$16,388,549$2,068,390$791,928$10,516,628
94$17,978,504$2,088,064$736,780$11,450,489
95$19,728,062$2,106,130$677,213$12,476,607
96$21,653,420$2,122,426$612,996$13,604,361
97$23,772,428$2,136,784$543,890$14,844,087
98$26,104,751$2,149,022$469,645$16,207,178
99$28,672,058$2,158,946$390,001$17,706,191
100$31,498,226$2,166,353$304,684$19,354,967