Can I retire at age 63 with 1,340,000?

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 $1,340,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$110,656$109,670$108,709$107,770$106,853$106,358
2 years$54,780$53,760$52,771$51,813$50,883$50,383
3 years$36,157$35,133$34,146$33,197$32,282$31,793
4 years$26,848$25,826$24,850$23,916$23,024$22,550
5 years$21,263$20,248$19,285$18,370$17,502$17,044
6 years$17,542$16,534$15,585$14,691$13,849$13,407
7 years$14,885$13,885$12,951$12,078$11,263$10,838
8 years$12,893$11,902$10,983$10,132$9,344$8,936
9 years$11,344$10,363$9,460$8,630$7,869$7,477
10 years$10,106$9,135$8,248$7,439$6,705$6,330
11 years$9,093$8,132$7,261$6,474$5,766$5,408
12 years$8,250$7,299$6,444$5,679$4,997$4,654
13 years$7,538$6,596$5,757$5,014$4,357$4,031
14 years$6,927$5,996$5,173$4,451$3,820$3,508
15 years$6,399$5,477$4,670$3,969$3,363$3,067
16 years$5,937$5,025$4,234$3,554$2,972$2,690
17 years$5,529$4,628$3,853$3,193$2,635$2,368
18 years$5,168$4,276$3,517$2,878$2,343$2,089
19 years$4,845$3,963$3,220$2,600$2,089$1,848
20 years$4,554$3,683$2,955$2,355$1,866$1,638
21 years$4,292$3,430$2,718$2,137$1,670$1,454
22 years$4,053$3,202$2,505$1,943$1,496$1,293
23 years$3,836$2,995$2,313$1,770$1,343$1,151
24 years$3,637$2,806$2,139$1,614$1,207$1,026
25 years$3,455$2,633$1,981$1,474$1,086$916
26 years$3,286$2,475$1,838$1,348$979$818
27 years$3,131$2,329$1,706$1,234$882$731
28 years$2,987$2,195$1,586$1,130$796$654
29 years$2,853$2,071$1,476$1,037$719$585
30 years$2,728$1,955$1,375$951$650$524
31 years$2,611$1,849$1,282$874$587$470
32 years$2,502$1,749$1,196$803$531$421
33 years$2,400$1,656$1,117$738$481$378
34 years$2,304$1,570$1,043$679$435$339
35 years$2,213$1,489$976$625$394$304
36 years$2,128$1,413$913$576$357$273
37 years$2,048$1,342$854$531$324$245
38 years$1,972$1,276$800$489$294$220
39 years$1,900$1,213$749$451$266$198
40 years$1,832$1,154$702$416$241$178
41 years$1,767$1,099$659$384$219$160
42 years$1,706$1,046$618$354$199$144
43 years$1,648$997$580$327$180$129
44 years$1,592$950$544$302$164$116
45 years$1,539$906$511$279$149$104
46 years$1,489$864$480$258$135$94
47 years$1,441$825$451$238$123$84
48 years$1,394$788$424$220$111$76
49 years$1,350$752$398$203$101$68
50 years$1,308$718$374$188$92$61

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $1,340,000, adding $6,596 every year, while hoping to spend $39,443 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: 50/28/22 Blend
62$1,340,000$1,340,000$1,340,000$1,340,000
63$1,483,484$1,412,464$1,391,694$1,548,207
64$1,592,832$1,439,707$1,396,348$1,621,035
65$1,712,012$1,466,964$1,399,837$1,695,597
66$1,841,985$1,494,193$1,402,079$1,775,817
67$1,983,808$1,521,349$1,402,990$1,862,247
68$2,138,646$1,548,385$1,402,480$1,955,492
69$2,307,781$1,575,249$1,400,456$2,056,224
70$2,492,625$1,601,886$1,396,821$2,165,182
71$2,694,730$1,628,236$1,391,472$2,283,180
72$2,915,807$1,654,234$1,384,301$2,411,117
73$3,157,740$1,679,813$1,375,196$2,549,987
74$3,422,603$1,704,896$1,364,038$2,700,883
75$3,712,679$1,729,407$1,350,704$2,865,012
76$4,030,483$1,753,259$1,335,063$3,043,706
77$4,378,785$1,776,361$1,316,981$3,238,433
78$4,760,636$1,798,617$1,296,314$3,450,813
79$5,179,394$1,819,924$1,272,914$3,682,634
80$5,638,761$1,840,169$1,246,626$3,935,866
81$6,142,812$1,859,234$1,217,285$4,212,684
82$6,696,037$1,876,994$1,184,722$4,515,485
83$7,303,380$1,893,315$1,148,757$4,846,914
84$7,970,289$1,908,051$1,109,205$5,209,888
85$8,702,765$1,921,052$1,065,870$5,607,624
86$9,507,418$1,932,154$1,018,547$6,043,672
87$10,391,529$1,941,185$967,024$6,521,944
88$11,363,123$1,947,961$911,076$7,046,756
89$12,431,036$1,952,285$850,472$7,622,867
90$13,605,006$1,953,951$784,967$8,255,527
91$14,895,760$1,952,738$714,307$8,950,524
92$16,315,116$1,948,412$638,225$9,714,240
93$17,876,097$1,940,723$556,445$10,553,714
94$19,593,048$1,929,408$468,675$11,476,709
95$21,481,777$1,914,186$374,613$12,491,782
96$23,559,698$1,894,761$273,942$13,608,371
97$25,846,000$1,870,817$166,333$14,836,881
98$28,361,827$1,842,022$51,439$16,188,785
99$31,130,473$1,808,021$0$17,676,735
100$34,177,607$1,768,440$0$19,331,385