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%11%
1 years$97,443$96,575$95,728$94,902$94,095$93,698
2 years$48,239$47,341$46,470$45,626$44,807$44,407
3 years$31,840$30,938$30,069$29,233$28,427$28,036
4 years$23,642$22,743$21,883$21,061$20,275$19,895
5 years$18,725$17,830$16,982$16,177$15,413$15,045
6 years$15,447$14,560$13,724$12,937$12,195$11,841
7 years$13,107$12,227$11,405$10,636$9,918$9,577
8 years$11,353$10,481$9,672$8,922$8,228$7,901
9 years$9,989$9,126$8,331$7,600$6,929$6,615
10 years$8,899$8,044$7,263$6,551$5,904$5,603
11 years$8,008$7,161$6,394$5,701$5,078$4,790
12 years$7,265$6,427$5,675$5,001$4,400$4,125
13 years$6,638$5,808$5,070$4,415$3,837$3,575
14 years$6,100$5,280$4,555$3,919$3,364$3,113
15 years$5,635$4,823$4,113$3,495$2,962$2,723
16 years$5,228$4,425$3,729$3,130$2,617$2,391
17 years$4,869$4,075$3,393$2,812$2,321$2,106
18 years$4,551$3,766$3,097$2,534$2,064$1,859
19 years$4,266$3,490$2,836$2,290$1,839$1,646
20 years$4,010$3,243$2,602$2,074$1,643$1,459
21 years$3,779$3,021$2,394$1,882$1,470$1,297
22 years$3,569$2,820$2,206$1,711$1,318$1,154
23 years$3,378$2,637$2,037$1,558$1,183$1,028
24 years$3,203$2,471$1,884$1,421$1,063$917
25 years$3,042$2,319$1,745$1,298$957$819
26 years$2,894$2,179$1,618$1,187$862$732
27 years$2,757$2,051$1,503$1,086$777$655
28 years$2,630$1,933$1,397$995$701$586
29 years$2,512$1,823$1,300$913$633$525
30 years$2,402$1,722$1,211$838$572$471
31 years$2,299$1,628$1,129$769$517$422
32 years$2,203$1,540$1,053$707$468$379
33 years$2,113$1,459$983$650$423$340
34 years$2,029$1,382$919$598$383$305
35 years$1,949$1,311$859$551$347$274
36 years$1,874$1,245$804$507$315$246
37 years$1,803$1,182$752$467$285$222
38 years$1,736$1,123$704$431$258$199
39 years$1,673$1,068$660$397$234$179
40 years$1,613$1,016$619$366$213$161
41 years$1,556$967$580$338$193$145
42 years$1,502$921$544$312$175$130
43 years$1,451$878$511$288$159$117
44 years$1,402$837$479$266$144$106
45 years$1,355$798$450$246$131$95
46 years$1,311$761$423$227$119$85
47 years$1,269$726$397$210$108$77
48 years$1,228$693$373$194$98$69
49 years$1,189$662$351$179$89$62
50 years$1,152$633$330$165$81$56

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 $5,594 every year, while hoping to spend $42,377 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: 34/38/28 Blend
62$1,180,000$1,180,000$1,180,000$1,180,000
63$1,306,130$1,243,590$1,225,300$1,339,316
64$1,394,267$1,259,437$1,221,259$1,380,675
65$1,489,973$1,274,641$1,215,662$1,421,064
66$1,593,976$1,289,124$1,208,413$1,463,799
67$1,707,076$1,302,806$1,199,409$1,509,118
68$1,830,154$1,315,599$1,188,545$1,557,287
69$1,964,177$1,327,411$1,175,709$1,608,598
70$2,110,213$1,338,144$1,160,785$1,663,378
71$2,269,433$1,347,692$1,143,650$1,721,989
72$2,443,130$1,355,943$1,124,176$1,784,834
73$2,632,723$1,362,778$1,102,230$1,852,358
74$2,839,777$1,368,070$1,077,671$1,925,058
75$3,066,013$1,371,685$1,050,352$2,003,481
76$3,313,328$1,373,479$1,020,121$2,088,237
77$3,583,809$1,373,300$986,816$2,180,001
78$3,879,752$1,370,988$950,270$2,279,521
79$4,203,690$1,366,369$910,307$2,387,625
80$4,558,408$1,359,262$866,743$2,505,233
81$4,946,974$1,349,474$819,387$2,633,362
82$5,372,767$1,336,801$768,039$2,773,138
83$5,839,509$1,321,024$712,488$2,925,808
84$6,351,299$1,301,914$652,516$3,092,754
85$6,912,650$1,279,226$587,894$3,275,502
86$7,528,535$1,252,703$518,383$3,475,745
87$8,204,430$1,222,069$443,733$3,695,352
88$8,946,368$1,187,037$363,684$3,936,394
89$9,760,993$1,147,298$277,964$4,201,159
90$10,655,627$1,102,528$186,288$4,492,178
91$11,638,332$1,052,383$88,360$4,812,250
92$12,717,992$996,499$0$5,164,469
93$13,904,392$934,493$0$5,557,079
94$15,208,314$865,957$0$6,017,521
95$16,641,634$790,461$0$6,523,647
96$18,217,439$707,552$0$7,080,178
97$19,950,144$616,748$0$7,692,323
98$21,855,632$517,542$0$8,365,830
99$23,951,403$409,399$0$9,107,041
100$26,256,738$291,750$0$9,922,954