Can I retire at age 63 with 1,230,000?

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 $1,230,000?

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%
1 years$101,572$100,667$99,785$98,923$98,082$94,866
2 years$50,283$49,347$48,439$47,559$46,706$43,497
3 years$33,189$32,249$31,343$30,472$29,632$26,530
4 years$24,644$23,706$22,810$21,953$21,134$18,163
5 years$19,518$18,586$17,701$16,862$16,066$13,234
6 years$16,102$15,177$14,305$13,485$12,712$10,022
7 years$13,663$12,745$11,888$11,087$10,338$7,789
8 years$11,834$10,925$10,082$9,300$8,577$6,167
9 years$10,413$9,512$8,683$7,922$7,223$4,949
10 years$9,276$8,385$7,570$6,829$6,154$4,013
11 years$8,347$7,464$6,665$5,943$5,293$3,281
12 years$7,573$6,700$5,915$5,213$4,587$2,699
13 years$6,919$6,055$5,285$4,602$4,000$2,232
14 years$6,359$5,503$4,748$4,085$3,506$1,853
15 years$5,873$5,027$4,287$3,643$3,087$1,543
16 years$5,449$4,613$3,887$3,262$2,728$1,289
17 years$5,076$4,248$3,537$2,931$2,419$1,079
18 years$4,744$3,925$3,229$2,641$2,151$905
19 years$4,447$3,638$2,956$2,387$1,917$760
20 years$4,180$3,381$2,713$2,162$1,712$639
21 years$3,939$3,149$2,495$1,962$1,532$538
22 years$3,721$2,939$2,300$1,784$1,374$454
23 years$3,521$2,749$2,123$1,625$1,233$382
24 years$3,339$2,576$1,964$1,482$1,108$323
25 years$3,171$2,417$1,819$1,353$997$273
26 years$3,017$2,272$1,687$1,237$898$230
27 years$2,874$2,138$1,566$1,132$810$195
28 years$2,741$2,015$1,456$1,038$731$164
29 years$2,618$1,901$1,355$951$660$139
30 years$2,504$1,795$1,262$873$596$118
31 years$2,397$1,697$1,177$802$539$99
32 years$2,297$1,606$1,098$737$488$84
33 years$2,203$1,520$1,025$678$441$71
34 years$2,115$1,441$958$624$400$60
35 years$2,032$1,367$895$574$362$51
36 years$1,954$1,297$838$529$328$43
37 years$1,880$1,232$784$487$297$37
38 years$1,810$1,171$734$449$269$31
39 years$1,744$1,113$688$414$244$26
40 years$1,682$1,059$645$382$222$22
41 years$1,622$1,008$605$352$201$19
42 years$1,566$960$567$325$182$16
43 years$1,512$915$532$300$166$13
44 years$1,461$872$500$277$150$11
45 years$1,413$832$469$256$136$10
46 years$1,366$793$441$236$124$8
47 years$1,322$757$414$218$112$7
48 years$1,280$723$389$202$102$6
49 years$1,240$690$366$187$93$5
50 years$1,201$659$344$172$84$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $1,230,000, adding $5,569 every year, while hoping to spend $58,088 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: 61/28/11 Blend
62$1,230,000$1,230,000$1,230,000$1,230,000
63$1,361,204$1,296,014$1,276,949$1,440,407
64$1,438,242$1,297,714$1,257,922$1,495,908
65$1,521,191$1,297,550$1,236,310$1,549,317
66$1,610,592$1,295,370$1,211,967$1,606,167
67$1,707,041$1,291,011$1,184,736$1,666,790
68$1,811,190$1,284,302$1,154,456$1,731,559
69$1,923,759$1,275,061$1,120,958$1,800,883
70$2,045,537$1,263,093$1,084,064$1,875,216
71$2,177,391$1,248,193$1,043,589$1,955,060
72$2,320,275$1,230,145$999,340$2,040,971
73$2,475,238$1,208,717$951,113$2,133,562
74$2,643,434$1,183,666$898,697$2,233,515
75$2,826,131$1,154,732$841,870$2,341,580
76$3,024,725$1,121,642$780,401$2,458,589
77$3,240,750$1,084,106$714,048$2,585,462
78$3,475,897$1,041,818$642,558$2,723,216
79$3,732,023$994,451$565,668$2,872,975
80$4,011,173$941,664$483,103$3,035,981
81$4,315,600$883,092$394,573$3,213,609
82$4,647,779$818,352$299,780$3,407,377
83$5,010,438$747,037$198,408$3,618,964
84$5,406,579$668,718$90,131$3,850,224
85$5,839,507$582,941$0$4,103,207
86$6,312,859$489,228$0$4,383,161
87$6,830,640$387,070$0$4,701,087
88$7,397,263$275,934$0$5,049,204
89$8,017,583$155,253$0$5,430,610
90$8,696,948$24,433$0$5,848,724
91$9,441,248$0$0$6,307,320
92$10,256,969$0$0$6,846,662
93$11,151,253$0$0$7,446,297
94$12,131,969$0$0$8,103,985
95$13,207,782$0$0$8,825,550
96$14,388,235$0$0$9,617,405
97$15,683,843$0$0$10,486,617
98$17,106,184$0$0$11,440,968
99$18,668,016$0$0$12,489,031
100$20,383,391$0$0$13,640,250