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

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 $1,190,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$98,269$97,394$96,540$95,706$94,892$94,334
2 years$48,648$47,742$46,864$46,013$45,187$44,623
3 years$32,110$31,200$30,324$29,481$28,668$28,117
4 years$23,842$22,935$22,068$21,239$20,447$19,912
5 years$18,883$17,982$17,126$16,314$15,543$15,027
6 years$15,578$14,683$13,840$13,046$12,299$11,802
7 years$13,218$12,331$11,501$10,726$10,002$9,524
8 years$11,449$10,570$9,754$8,998$8,298$7,839
9 years$10,074$9,203$8,401$7,664$6,988$6,549
10 years$8,975$8,112$7,324$6,607$5,954$5,534
11 years$8,076$7,222$6,448$5,750$5,121$4,719
12 years$7,327$6,482$5,723$5,043$4,437$4,054
13 years$6,694$5,858$5,113$4,452$3,870$3,504
14 years$6,152$5,324$4,594$3,952$3,392$3,044
15 years$5,682$4,864$4,148$3,525$2,987$2,655
16 years$5,272$4,463$3,760$3,156$2,640$2,325
17 years$4,910$4,110$3,422$2,836$2,340$2,042
18 years$4,589$3,798$3,124$2,556$2,081$1,798
19 years$4,302$3,520$2,860$2,309$1,855$1,587
20 years$4,044$3,271$2,624$2,091$1,657$1,403
21 years$3,811$3,046$2,414$1,898$1,483$1,243
22 years$3,600$2,844$2,225$1,726$1,329$1,103
23 years$3,407$2,660$2,054$1,572$1,193$980
24 years$3,230$2,492$1,900$1,433$1,072$871
25 years$3,068$2,339$1,760$1,309$965$776
26 years$2,919$2,198$1,632$1,197$869$691
27 years$2,780$2,069$1,515$1,096$784$616
28 years$2,652$1,949$1,409$1,004$707$550
29 years$2,533$1,839$1,311$921$638$491
30 years$2,422$1,737$1,221$845$577$439
31 years$2,319$1,642$1,138$776$522$392
32 years$2,222$1,553$1,062$713$472$351
33 years$2,131$1,471$992$656$427$314
34 years$2,046$1,394$927$603$387$281
35 years$1,966$1,322$866$555$350$252
36 years$1,890$1,255$810$512$317$225
37 years$1,819$1,192$759$471$288$202
38 years$1,751$1,133$710$434$261$181
39 years$1,687$1,077$666$401$236$162
40 years$1,627$1,025$624$369$214$145
41 years$1,570$976$585$341$195$130
42 years$1,515$929$549$315$176$117
43 years$1,463$885$515$290$160$105
44 years$1,414$844$483$268$145$94
45 years$1,367$805$454$248$132$84
46 years$1,322$768$426$229$120$75
47 years$1,279$733$400$211$109$68
48 years$1,238$699$376$195$99$61
49 years$1,199$668$354$180$90$54
50 years$1,162$638$333$167$82$49

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 $3,153 every year, while hoping to spend $49,800 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: 60/33/7 Blend
62$1,190,000$1,190,000$1,190,000$1,190,000
63$1,314,632$1,251,562$1,233,117$1,391,439
64$1,395,738$1,259,902$1,221,440$1,451,591
65$1,483,447$1,266,981$1,207,702$1,511,174
66$1,578,381$1,272,686$1,191,783$1,574,905
67$1,681,223$1,276,894$1,173,554$1,643,183
68$1,792,722$1,279,477$1,152,883$1,716,451
69$1,913,705$1,280,296$1,129,630$1,795,197
70$2,045,079$1,279,207$1,103,648$1,879,961
71$2,187,843$1,276,054$1,074,786$1,971,337
72$2,343,095$1,270,672$1,042,883$2,069,984
73$2,512,043$1,262,888$1,007,773$2,176,628
74$2,696,018$1,252,516$969,279$2,292,073
75$2,896,482$1,239,359$927,221$2,417,204
76$3,115,046$1,223,210$881,405$2,553,001
77$3,353,482$1,203,849$831,633$2,700,544
78$3,613,740$1,181,040$777,696$2,861,028
79$3,897,968$1,154,538$719,375$3,035,772
80$4,208,529$1,124,079$656,443$3,226,230
81$4,548,026$1,089,386$588,661$3,434,011
82$4,919,324$1,050,165$515,780$3,660,889
83$5,325,578$1,006,106$437,542$3,908,824
84$5,770,261$956,878$353,673$4,179,979
85$6,257,197$902,135$263,891$4,476,744
86$6,790,600$841,509$167,900$4,801,753
87$7,375,108$774,609$65,391$5,157,918
88$8,015,829$701,025$0$5,548,451
89$8,718,390$620,322$0$5,980,185
90$9,488,989$532,041$0$6,459,171
91$10,334,450$435,695$0$6,984,865
92$11,262,292$330,773$0$7,562,062
93$12,280,797$216,731$0$8,196,049
94$13,399,086$92,999$0$8,892,659
95$14,627,208$0$0$9,658,329
96$15,976,234$0$0$10,515,054
97$17,458,357$0$0$11,493,509
98$19,087,012$0$0$12,568,802
99$20,876,999$0$0$13,750,718
100$22,844,622$0$0$15,050,036