Can I retire at age 63 with 1,170,000?

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 $1,170,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.8%
1 years$96,618$95,757$94,917$94,098$93,297$91,451
2 years$47,830$46,940$46,076$45,239$44,427$42,575
3 years$31,570$30,676$29,814$28,985$28,187$26,386
4 years$23,442$22,550$21,697$20,882$20,103$18,368
5 years$18,566$17,679$16,838$16,040$15,282$13,617
6 years$15,316$14,436$13,608$12,827$12,092$10,500
7 years$12,996$12,124$11,308$10,546$9,834$8,315
8 years$11,257$10,392$9,590$8,847$8,158$6,711
9 years$9,905$9,048$8,260$7,535$6,870$5,495
10 years$8,824$7,976$7,201$6,496$5,854$4,548
11 years$7,940$7,100$6,340$5,653$5,035$3,797
12 years$7,204$6,373$5,626$4,958$4,363$3,192
13 years$6,581$5,759$5,027$4,378$3,805$2,699
14 years$6,048$5,235$4,517$3,886$3,335$2,292
15 years$5,587$4,782$4,078$3,466$2,936$1,954
16 years$5,184$4,388$3,697$3,103$2,595$1,671
17 years$4,828$4,041$3,364$2,788$2,301$1,433
18 years$4,512$3,734$3,071$2,513$2,046$1,231
19 years$4,230$3,461$2,812$2,270$1,824$1,060
20 years$3,976$3,216$2,580$2,056$1,629$914
21 years$3,747$2,995$2,373$1,866$1,458$789
22 years$3,539$2,796$2,187$1,697$1,307$682
23 years$3,350$2,615$2,020$1,545$1,173$591
24 years$3,176$2,450$1,868$1,409$1,054$512
25 years$3,016$2,299$1,730$1,287$949$444
26 years$2,869$2,161$1,605$1,177$855$385
27 years$2,734$2,034$1,490$1,077$770$334
28 years$2,608$1,916$1,385$987$695$290
29 years$2,491$1,808$1,289$905$628$252
30 years$2,382$1,707$1,201$831$567$219
31 years$2,280$1,614$1,119$763$513$190
32 years$2,185$1,527$1,044$701$464$165
33 years$2,095$1,446$975$645$420$144
34 years$2,011$1,371$911$593$380$125
35 years$1,933$1,300$852$546$344$109
36 years$1,858$1,234$797$503$312$95
37 years$1,788$1,172$746$463$283$82
38 years$1,722$1,114$698$427$256$72
39 years$1,659$1,059$654$394$232$62
40 years$1,600$1,008$613$363$211$54
41 years$1,543$959$575$335$191$47
42 years$1,490$914$539$309$174$41
43 years$1,439$870$506$286$157$36
44 years$1,390$830$475$264$143$31
45 years$1,344$791$446$243$130$27
46 years$1,300$755$419$225$118$24
47 years$1,258$720$394$208$107$21
48 years$1,218$688$370$192$97$18
49 years$1,179$657$348$177$88$16
50 years$1,142$627$327$164$80$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $1,170,000, adding $4,009 every year, while hoping to spend $34,779 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: 26/46/28 Blend
62$1,170,000$1,170,000$1,170,000$1,170,000
63$1,293,475$1,231,465$1,213,330$1,315,710
64$1,388,405$1,254,802$1,216,972$1,357,628
65$1,491,852$1,278,118$1,219,571$1,399,338
66$1,604,649$1,301,373$1,221,054$1,443,378
67$1,727,710$1,324,527$1,221,346$1,489,967
68$1,862,044$1,347,537$1,220,369$1,539,352
69$2,008,761$1,370,354$1,218,040$1,591,803
70$2,169,082$1,392,929$1,214,271$1,647,620
71$2,344,351$1,415,205$1,208,972$1,707,136
72$2,536,050$1,437,125$1,202,048$1,770,719
73$2,745,808$1,458,625$1,193,397$1,838,778
74$2,975,420$1,479,638$1,182,916$1,911,763
75$3,226,863$1,500,091$1,170,494$1,990,174
76$3,502,314$1,519,906$1,156,016$2,074,564
77$3,804,170$1,539,001$1,139,363$2,165,545
78$4,135,070$1,557,287$1,120,406$2,263,795
79$4,497,923$1,574,670$1,099,016$2,370,063
80$4,895,931$1,591,049$1,075,052$2,485,177
81$5,332,621$1,606,315$1,048,372$2,610,055
82$5,811,879$1,620,355$1,018,822$2,745,711
83$6,337,983$1,633,045$986,246$2,893,267
84$6,915,649$1,644,256$950,477$3,053,961
85$7,550,070$1,653,849$911,342$3,229,166
86$8,246,966$1,661,676$868,661$3,420,397
87$9,012,639$1,667,581$822,243$3,629,330
88$9,854,031$1,671,396$771,892$3,857,815
89$10,778,793$1,672,944$717,401$4,107,899
90$11,795,348$1,672,037$658,552$4,381,843
91$12,912,982$1,668,475$595,122$4,682,146
92$14,141,921$1,662,046$526,874$5,011,567
93$15,493,435$1,652,523$453,561$5,373,155
94$16,979,937$1,639,669$374,928$5,770,277
95$18,615,107$1,623,229$290,704$6,206,653
96$20,414,015$1,602,935$200,610$6,686,391
97$22,393,268$1,578,502$104,354$7,214,025
98$24,571,161$1,549,627$1,629$7,794,565
99$26,967,852$1,515,992$0$8,433,540
100$29,605,555$1,477,258$0$9,169,319