Can I retire at age 63 with 1,200,000?

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 $1,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$99,095$98,212$97,351$96,510$95,690$94,928
2 years$49,057$48,143$47,258$46,399$45,567$44,798
3 years$32,380$31,462$30,579$29,728$28,909$28,159
4 years$24,043$23,128$22,254$21,418$20,618$19,891
5 years$19,042$18,133$17,270$16,451$15,674$14,972
6 years$15,709$14,807$13,956$13,156$12,402$11,727
7 years$13,329$12,435$11,598$10,816$10,086$9,438
8 years$11,546$10,659$9,836$9,073$8,367$7,746
9 years$10,159$9,280$8,472$7,729$7,047$6,452
10 years$9,050$8,180$7,386$6,662$6,004$5,436
11 years$8,143$7,282$6,502$5,798$5,164$4,621
12 years$7,388$6,536$5,771$5,086$4,475$3,957
13 years$6,750$5,907$5,156$4,490$3,902$3,410
14 years$6,204$5,369$4,632$3,986$3,421$2,952
15 years$5,730$4,905$4,182$3,554$3,012$2,567
16 years$5,316$4,500$3,792$3,183$2,662$2,240
17 years$4,952$4,144$3,451$2,860$2,360$1,960
18 years$4,628$3,830$3,150$2,577$2,098$1,720
19 years$4,339$3,549$2,884$2,329$1,870$1,513
20 years$4,078$3,298$2,646$2,109$1,671$1,333
21 years$3,843$3,072$2,434$1,914$1,495$1,176
22 years$3,630$2,868$2,244$1,740$1,340$1,040
23 years$3,435$2,682$2,071$1,585$1,203$920
24 years$3,257$2,513$1,916$1,446$1,081$815
25 years$3,094$2,358$1,774$1,320$973$723
26 years$2,943$2,216$1,646$1,207$876$642
27 years$2,804$2,086$1,528$1,105$790$570
28 years$2,675$1,966$1,421$1,012$713$507
29 years$2,555$1,854$1,322$928$644$451
30 years$2,443$1,751$1,231$852$582$401
31 years$2,338$1,655$1,148$782$526$357
32 years$2,241$1,566$1,071$719$476$318
33 years$2,149$1,483$1,000$661$431$283
34 years$2,063$1,406$934$608$390$253
35 years$1,982$1,333$874$560$353$225
36 years$1,906$1,266$817$516$320$201
37 years$1,834$1,202$765$475$290$179
38 years$1,766$1,142$716$438$263$160
39 years$1,702$1,086$671$404$238$143
40 years$1,641$1,034$629$373$216$127
41 years$1,583$984$590$344$196$114
42 years$1,528$937$553$317$178$101
43 years$1,476$893$519$293$162$91
44 years$1,426$851$487$270$147$81
45 years$1,378$811$458$250$133$72
46 years$1,333$774$430$231$121$64
47 years$1,290$739$404$213$110$58
48 years$1,249$705$379$197$100$51
49 years$1,209$673$357$182$91$46
50 years$1,172$643$335$168$82$41

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $1,200,000, adding $5,523 every year, while hoping to spend $40,301 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: 76/9/15 Blend
62$1,200,000$1,200,000$1,200,000$1,200,000
63$1,328,097$1,264,497$1,245,897$1,424,339
64$1,420,683$1,283,577$1,244,755$1,507,730
65$1,521,362$1,302,242$1,242,223$1,593,537
66$1,630,917$1,320,428$1,238,214$1,686,508
67$1,750,209$1,338,068$1,232,633$1,787,343
68$1,880,187$1,355,090$1,225,382$1,896,814
69$2,021,894$1,371,416$1,216,360$2,015,772
70$2,176,477$1,386,966$1,205,458$2,145,154
71$2,345,201$1,401,650$1,192,564$2,285,992
72$2,529,456$1,415,376$1,177,560$2,439,425
73$2,730,774$1,428,043$1,160,322$2,606,708
74$2,950,841$1,439,546$1,140,721$2,789,221
75$3,191,513$1,449,770$1,118,622$2,988,488
76$3,454,834$1,458,595$1,093,882$3,206,188
77$3,743,054$1,465,893$1,066,354$3,444,169
78$4,058,651$1,471,527$1,035,882$3,704,472
79$4,404,353$1,475,351$1,002,304$3,989,341
80$4,783,167$1,477,213$965,450$4,301,255
81$5,198,400$1,476,947$925,144$4,642,941
82$5,653,700$1,474,380$881,198$5,017,407
83$6,153,079$1,469,326$833,420$5,427,968
84$6,700,960$1,461,590$781,606$5,878,278
85$7,302,213$1,450,963$725,546$6,372,364
86$7,962,203$1,437,225$665,016$6,914,664
87$8,686,840$1,420,141$599,786$7,510,069
88$9,482,633$1,399,464$529,615$8,163,971
89$10,356,754$1,374,930$454,249$8,882,312
90$11,317,103$1,346,261$373,426$9,671,642
91$12,372,381$1,313,162$286,870$10,539,179
92$13,532,178$1,275,321$194,294$11,492,879
93$14,807,055$1,232,406$95,398$12,541,511
94$16,208,649$1,184,069$0$13,694,739
95$17,749,781$1,129,938$0$14,964,840
96$19,444,576$1,069,622$0$16,378,329
97$21,308,595$1,002,706$0$17,932,918
98$23,358,986$928,753$0$19,642,923
99$25,614,640$847,299$0$21,524,124
100$28,096,370$757,854$0$23,593,907