Can I retire at age 63 with 1,180,000?

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 $1,180,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$97,443$96,575$95,728$94,902$94,095$92,765
2 years$48,239$47,341$46,470$45,626$44,807$43,470
3 years$31,840$30,938$30,069$29,233$28,427$27,125
4 years$23,642$22,743$21,883$21,061$20,275$19,016
5 years$18,725$17,830$16,982$16,177$15,413$14,202
6 years$15,447$14,560$13,724$12,937$12,195$11,034
7 years$13,107$12,227$11,405$10,636$9,918$8,806
8 years$11,353$10,481$9,672$8,922$8,228$7,166
9 years$9,989$9,126$8,331$7,600$6,929$5,916
10 years$8,899$8,044$7,263$6,551$5,904$4,939
11 years$8,008$7,161$6,394$5,701$5,078$4,160
12 years$7,265$6,427$5,675$5,001$4,400$3,529
13 years$6,638$5,808$5,070$4,415$3,837$3,011
14 years$6,100$5,280$4,555$3,919$3,364$2,581
15 years$5,635$4,823$4,113$3,495$2,962$2,222
16 years$5,228$4,425$3,729$3,130$2,617$1,919
17 years$4,869$4,075$3,393$2,812$2,321$1,662
18 years$4,551$3,766$3,097$2,534$2,064$1,443
19 years$4,266$3,490$2,836$2,290$1,839$1,255
20 years$4,010$3,243$2,602$2,074$1,643$1,094
21 years$3,779$3,021$2,394$1,882$1,470$954
22 years$3,569$2,820$2,206$1,711$1,318$834
23 years$3,378$2,637$2,037$1,558$1,183$730
24 years$3,203$2,471$1,884$1,421$1,063$639
25 years$3,042$2,319$1,745$1,298$957$560
26 years$2,894$2,179$1,618$1,187$862$491
27 years$2,757$2,051$1,503$1,086$777$431
28 years$2,630$1,933$1,397$995$701$379
29 years$2,512$1,823$1,300$913$633$333
30 years$2,402$1,722$1,211$838$572$293
31 years$2,299$1,628$1,129$769$517$257
32 years$2,203$1,540$1,053$707$468$226
33 years$2,113$1,459$983$650$423$199
34 years$2,029$1,382$919$598$383$175
35 years$1,949$1,311$859$551$347$154
36 years$1,874$1,245$804$507$315$136
37 years$1,803$1,182$752$467$285$120
38 years$1,736$1,123$704$431$258$105
39 years$1,673$1,068$660$397$234$93
40 years$1,613$1,016$619$366$213$82
41 years$1,556$967$580$338$193$72
42 years$1,502$921$544$312$175$64
43 years$1,451$878$511$288$159$56
44 years$1,402$837$479$266$144$49
45 years$1,355$798$450$246$131$43
46 years$1,311$761$423$227$119$38
47 years$1,269$726$397$210$108$34
48 years$1,228$693$373$194$98$30
49 years$1,189$662$351$179$89$26
50 years$1,152$633$330$165$81$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $1,180,000, adding $2,995 every year, while hoping to spend $43,473 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: 57/16/27 Blend
62$1,180,000$1,180,000$1,180,000$1,180,000
63$1,303,449$1,240,909$1,222,619$1,367,957
64$1,390,146$1,255,459$1,217,322$1,427,081
65$1,484,229$1,269,264$1,210,390$1,486,670
66$1,586,406$1,282,244$1,201,724$1,550,724
67$1,697,454$1,294,308$1,191,216$1,619,687
68$1,818,230$1,305,365$1,178,758$1,694,051
69$1,949,676$1,315,314$1,164,232$1,774,357
70$2,092,827$1,324,050$1,147,519$1,861,207
71$2,248,826$1,331,458$1,128,491$1,955,261
72$2,418,925$1,337,419$1,107,015$2,057,250
73$2,604,508$1,341,804$1,082,952$2,167,984
74$2,807,094$1,344,479$1,056,157$2,288,352
75$3,028,356$1,345,297$1,026,477$2,419,341
76$3,270,138$1,344,107$993,754$2,562,037
77$3,534,468$1,340,744$957,820$2,717,640
78$3,823,579$1,335,035$918,502$2,887,476
79$4,139,930$1,326,798$875,618$3,073,008
80$4,486,229$1,315,837$828,977$3,275,852
81$4,865,457$1,301,946$778,381$3,497,790
82$5,280,898$1,284,905$723,621$3,740,789
83$5,736,167$1,264,483$664,480$4,007,022
84$6,235,247$1,240,434$600,731$4,298,887
85$6,782,525$1,212,497$532,137$4,619,027
86$7,382,830$1,180,397$458,451$4,970,363
87$8,041,483$1,143,841$379,414$5,356,115
88$8,764,345$1,102,521$294,756$5,779,838
89$9,557,873$1,056,108$204,194$6,245,454
90$10,429,176$1,004,258$107,435$6,757,289
91$11,386,089$946,604$4,171$7,320,117
92$12,437,241$882,758$0$7,939,205
93$13,592,138$812,312$0$8,650,907
94$14,861,253$734,832$0$9,434,354
95$16,256,124$649,862$0$10,295,512
96$17,789,460$556,917$0$11,242,285
97$19,475,266$455,487$0$12,283,381
98$21,328,969$345,032$0$13,428,401
99$23,367,568$224,982$0$14,687,924
100$25,609,790$94,736$0$16,073,612