Can I retire at age 63 with 1,190,000?

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 $1,190,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18%
1 years$98,269$97,394$96,540$95,706$94,892$91,818
2 years$48,648$47,742$46,864$46,013$45,187$42,118
3 years$32,110$31,200$30,324$29,481$28,668$25,702
4 years$23,842$22,935$22,068$21,239$20,447$17,605
5 years$18,883$17,982$17,126$16,314$15,543$12,834
6 years$15,578$14,683$13,840$13,046$12,299$9,724
7 years$13,218$12,331$11,501$10,726$10,002$7,562
8 years$11,449$10,570$9,754$8,998$8,298$5,991
9 years$10,074$9,203$8,401$7,664$6,988$4,811
10 years$8,975$8,112$7,324$6,607$5,954$3,904
11 years$8,076$7,222$6,448$5,750$5,121$3,193
12 years$7,327$6,482$5,723$5,043$4,437$2,629
13 years$6,694$5,858$5,113$4,452$3,870$2,175
14 years$6,152$5,324$4,594$3,952$3,392$1,807
15 years$5,682$4,864$4,148$3,525$2,987$1,506
16 years$5,272$4,463$3,760$3,156$2,640$1,259
17 years$4,910$4,110$3,422$2,836$2,340$1,055
18 years$4,589$3,798$3,124$2,556$2,081$885
19 years$4,302$3,520$2,860$2,309$1,855$744
20 years$4,044$3,271$2,624$2,091$1,657$626
21 years$3,811$3,046$2,414$1,898$1,483$528
22 years$3,600$2,844$2,225$1,726$1,329$445
23 years$3,407$2,660$2,054$1,572$1,193$376
24 years$3,230$2,492$1,900$1,433$1,072$317
25 years$3,068$2,339$1,760$1,309$965$268
26 years$2,919$2,198$1,632$1,197$869$227
27 years$2,780$2,069$1,515$1,096$784$192
28 years$2,652$1,949$1,409$1,004$707$162
29 years$2,533$1,839$1,311$921$638$137
30 years$2,422$1,737$1,221$845$577$116
31 years$2,319$1,642$1,138$776$522$98
32 years$2,222$1,553$1,062$713$472$83
33 years$2,131$1,471$992$656$427$70
34 years$2,046$1,394$927$603$387$60
35 years$1,966$1,322$866$555$350$51
36 years$1,890$1,255$810$512$317$43
37 years$1,819$1,192$759$471$288$36
38 years$1,751$1,133$710$434$261$31
39 years$1,687$1,077$666$401$236$26
40 years$1,627$1,025$624$369$214$22
41 years$1,570$976$585$341$195$19
42 years$1,515$929$549$315$176$16
43 years$1,463$885$515$290$160$13
44 years$1,414$844$483$268$145$11
45 years$1,367$805$454$248$132$10
46 years$1,322$768$426$229$120$8
47 years$1,279$733$400$211$109$7
48 years$1,238$699$376$195$99$6
49 years$1,199$668$354$180$90$5
50 years$1,162$638$333$167$82$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $1,190,000, adding $4,643 every year, while hoping to spend $36,538 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: 31/50/19 Blend
62$1,190,000$1,190,000$1,190,000$1,190,000
63$1,316,169$1,253,099$1,234,654$1,349,024
64$1,411,542$1,275,625$1,237,139$1,396,636
65$1,515,419$1,298,030$1,238,482$1,444,214
66$1,628,628$1,320,269$1,238,608$1,494,657
67$1,752,081$1,342,296$1,237,434$1,548,235
68$1,886,782$1,364,057$1,234,877$1,605,247
69$2,033,837$1,385,499$1,230,848$1,666,026
70$2,194,461$1,406,561$1,225,255$1,730,936
71$2,369,994$1,427,180$1,217,998$1,800,384
72$2,561,909$1,447,288$1,208,977$1,874,816
73$2,771,831$1,466,812$1,198,085$1,954,729
74$3,001,545$1,485,674$1,185,209$2,040,670
75$3,253,021$1,503,790$1,170,231$2,133,244
76$3,528,424$1,521,071$1,153,029$2,233,121
77$3,830,142$1,537,422$1,133,474$2,341,041
78$4,160,803$1,552,742$1,111,432$2,457,823
79$4,523,300$1,566,922$1,086,760$2,584,370
80$4,920,823$1,579,846$1,059,312$2,721,683
81$5,356,881$1,591,393$1,028,934$2,870,865
82$5,835,342$1,601,431$995,462$3,033,139
83$6,360,466$1,609,820$958,730$3,209,853
84$6,936,945$1,616,413$918,559$3,402,498
85$7,569,948$1,621,052$874,765$3,612,720
86$8,265,169$1,623,569$827,155$3,842,339
87$9,028,879$1,623,787$775,528$4,093,366
88$9,867,989$1,621,517$719,672$4,368,020
89$10,790,109$1,616,557$659,367$4,668,753
90$11,803,628$1,608,695$594,383$4,998,273
91$12,917,782$1,597,706$524,479$5,359,571
92$14,142,751$1,583,348$449,405$5,755,949
93$15,489,748$1,565,369$368,896$6,191,053
94$16,971,129$1,543,499$282,681$6,668,910
95$18,600,505$1,517,452$190,472$7,193,963
96$20,392,876$1,486,925$91,971$7,771,120
97$22,364,764$1,451,599$0$8,405,796
98$24,534,377$1,411,135$0$9,106,634
99$26,921,775$1,365,172$0$9,897,639
100$29,549,062$1,313,331$0$10,767,497