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

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 $1,230,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$101,572$100,667$99,785$98,923$98,082$96,896
2 years$50,283$49,347$48,439$47,559$46,706$45,513
3 years$33,189$32,249$31,343$30,472$29,632$28,468
4 years$24,644$23,706$22,810$21,953$21,134$20,009
5 years$19,518$18,586$17,701$16,862$16,066$14,982
6 years$16,102$15,177$14,305$13,485$12,712$11,672
7 years$13,663$12,745$11,888$11,087$10,338$9,342
8 years$11,834$10,925$10,082$9,300$8,577$7,623
9 years$10,413$9,512$8,683$7,922$7,223$6,312
10 years$9,276$8,385$7,570$6,829$6,154$5,286
11 years$8,347$7,464$6,665$5,943$5,293$4,466
12 years$7,573$6,700$5,915$5,213$4,587$3,801
13 years$6,919$6,055$5,285$4,602$4,000$3,253
14 years$6,359$5,503$4,748$4,085$3,506$2,798
15 years$5,873$5,027$4,287$3,643$3,087$2,417
16 years$5,449$4,613$3,887$3,262$2,728$2,094
17 years$5,076$4,248$3,537$2,931$2,419$1,820
18 years$4,744$3,925$3,229$2,641$2,151$1,586
19 years$4,447$3,638$2,956$2,387$1,917$1,385
20 years$4,180$3,381$2,713$2,162$1,712$1,211
21 years$3,939$3,149$2,495$1,962$1,532$1,061
22 years$3,721$2,939$2,300$1,784$1,374$931
23 years$3,521$2,749$2,123$1,625$1,233$817
24 years$3,339$2,576$1,964$1,482$1,108$719
25 years$3,171$2,417$1,819$1,353$997$632
26 years$3,017$2,272$1,687$1,237$898$557
27 years$2,874$2,138$1,566$1,132$810$491
28 years$2,741$2,015$1,456$1,038$731$433
29 years$2,618$1,901$1,355$951$660$382
30 years$2,504$1,795$1,262$873$596$337
31 years$2,397$1,697$1,177$802$539$298
32 years$2,297$1,606$1,098$737$488$263
33 years$2,203$1,520$1,025$678$441$232
34 years$2,115$1,441$958$624$400$205
35 years$2,032$1,367$895$574$362$181
36 years$1,954$1,297$838$529$328$160
37 years$1,880$1,232$784$487$297$142
38 years$1,810$1,171$734$449$269$126
39 years$1,744$1,113$688$414$244$111
40 years$1,682$1,059$645$382$222$98
41 years$1,622$1,008$605$352$201$87
42 years$1,566$960$567$325$182$77
43 years$1,512$915$532$300$166$68
44 years$1,461$872$500$277$150$60
45 years$1,413$832$469$256$136$53
46 years$1,366$793$441$236$124$47
47 years$1,322$757$414$218$112$42
48 years$1,280$723$389$202$102$37
49 years$1,240$690$366$187$93$33
50 years$1,201$659$344$172$84$29

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 $5,901 every year, while hoping to spend $45,700 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: 40/39/21 Blend
62$1,230,000$1,230,000$1,230,000$1,230,000
63$1,361,547$1,296,357$1,277,292$1,407,332
64$1,451,800$1,311,254$1,271,457$1,455,606
65$1,549,728$1,325,349$1,263,894$1,503,001
66$1,656,064$1,338,555$1,254,499$1,553,343
67$1,771,617$1,350,779$1,243,159$1,606,927
68$1,897,275$1,361,920$1,229,758$1,664,080
69$2,034,016$1,371,874$1,214,174$1,725,161
70$2,182,917$1,380,526$1,196,280$1,790,572
71$2,345,160$1,387,758$1,175,941$1,860,757
72$2,522,049$1,393,441$1,153,017$1,936,207
73$2,715,018$1,397,439$1,127,363$2,017,466
74$2,925,644$1,399,608$1,098,825$2,105,140
75$3,155,666$1,399,795$1,067,242$2,199,895
76$3,406,996$1,397,837$1,032,446$2,302,473
77$3,681,739$1,393,561$994,263$2,413,692
78$3,982,214$1,386,783$952,508$2,534,459
79$4,310,973$1,377,308$906,990$2,665,779
80$4,670,826$1,364,930$857,508$2,808,762
81$5,064,868$1,349,430$803,853$2,964,638
82$5,496,508$1,330,575$745,805$3,134,767
83$5,969,498$1,308,119$683,136$3,320,652
84$6,487,972$1,281,802$615,606$3,523,957
85$7,056,482$1,251,348$542,966$3,746,522
86$7,680,043$1,216,463$464,955$3,990,382
87$8,364,176$1,176,839$381,300$4,257,784
88$9,114,966$1,132,147$291,716$4,551,215
89$9,939,111$1,082,042$195,908$4,873,421
90$10,843,994$1,026,155$93,564$5,227,440
91$11,837,744$964,099$0$5,616,627
92$12,929,318$895,464$0$6,048,195
93$14,128,582$819,816$0$6,545,334
94$15,446,407$736,696$0$7,091,661
95$16,894,766$645,619$0$7,692,254
96$18,486,851$546,074$0$8,352,719
97$20,237,197$437,519$0$9,079,240
98$22,161,815$319,382$0$9,878,642
99$24,278,349$191,059$0$10,758,452
100$26,606,233$51,914$0$11,726,977