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

Use the below retirement simulation to view the chances of a successful retirement.
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 $2,520 every year, while hoping to spend $50,791 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: 38/37/25 Blend
62$1,160,000$1,160,000$1,160,000$1,160,000
63$1,280,919$1,219,439$1,201,459$1,319,956
64$1,357,532$1,225,151$1,187,667$1,354,388
65$1,440,257$1,229,440$1,171,710$1,386,683
66$1,529,663$1,232,183$1,153,463$1,420,588
67$1,626,378$1,233,249$1,132,794$1,456,280
68$1,731,090$1,232,499$1,109,563$1,493,957
69$1,844,555$1,229,785$1,083,627$1,533,843
70$1,967,606$1,224,951$1,054,835$1,576,186
71$2,101,157$1,217,829$1,023,028$1,621,264
72$2,246,216$1,208,243$988,040$1,669,386
73$2,403,889$1,196,006$949,698$1,720,899
74$2,575,394$1,180,919$907,821$1,776,190
75$2,762,071$1,162,771$862,220$1,835,688
76$2,965,395$1,141,340$812,697$1,899,875
77$3,186,988$1,116,388$759,046$1,969,284
78$3,428,636$1,087,667$701,049$2,044,510
79$3,692,305$1,054,910$638,482$2,126,216
80$3,980,157$1,017,837$571,108$2,215,137
81$4,294,573$976,152$498,680$2,312,092
82$4,638,177$929,540$420,943$2,417,990
83$5,013,852$877,669$337,626$2,533,843
84$5,424,778$820,188$248,450$2,660,771
85$5,874,453$756,725$153,120$2,800,021
86$6,366,730$686,887$51,333$2,952,974
87$6,905,851$610,259$0$3,121,164
88$7,496,489$526,403$0$3,321,574
89$8,143,788$434,854$0$3,556,412
90$8,853,415$335,123$0$3,814,153
91$9,631,612$226,692$0$4,097,210
92$10,485,252$109,015$0$4,408,247
93$11,421,906$0$0$4,750,210
94$12,449,915$0$0$5,133,882
95$13,578,464$0$0$5,603,964
96$14,817,673$0$0$6,120,307
97$16,178,689$0$0$6,687,577
98$17,673,791$0$0$7,310,912
99$19,316,507$0$0$7,995,976
100$21,121,740$0$0$8,749,006