Can I retire at age 63 with 1,420,000?

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 $1,420,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$117,262$116,218$115,199$114,204$113,233$111,911
2 years$58,051$56,969$55,922$54,906$53,920$52,590
3 years$38,316$37,230$36,185$35,179$34,209$32,911
4 years$28,451$27,368$26,333$25,344$24,398$23,143
5 years$22,533$21,457$20,436$19,467$18,547$17,338
6 years$18,589$17,521$16,515$15,568$14,676$13,515
7 years$15,773$14,714$13,724$12,799$11,935$10,822
8 years$13,662$12,613$11,639$10,737$9,902$8,837
9 years$12,021$10,982$10,025$9,145$8,339$7,321
10 years$10,709$9,680$8,740$7,883$7,105$6,135
11 years$9,636$8,617$7,694$6,861$6,110$5,187
12 years$8,743$7,735$6,829$6,018$5,295$4,417
13 years$7,988$6,990$6,101$5,313$4,617$3,783
14 years$7,341$6,354$5,482$4,716$4,048$3,256
15 years$6,781$5,804$4,949$4,206$3,564$2,814
16 years$6,291$5,325$4,487$3,766$3,150$2,440
17 years$5,860$4,904$4,083$3,384$2,793$2,122
18 years$5,476$4,532$3,727$3,049$2,483$1,850
19 years$5,134$4,200$3,412$2,755$2,213$1,617
20 years$4,826$3,903$3,132$2,496$1,977$1,415
21 years$4,548$3,635$2,880$2,265$1,769$1,241
22 years$4,295$3,393$2,655$2,059$1,586$1,089
23 years$4,065$3,174$2,451$1,875$1,424$957
24 years$3,855$2,974$2,267$1,711$1,280$842
25 years$3,661$2,791$2,100$1,562$1,151$742
26 years$3,483$2,623$1,947$1,428$1,037$654
27 years$3,318$2,468$1,808$1,307$935$577
28 years$3,165$2,326$1,681$1,198$844$509
29 years$3,023$2,194$1,564$1,098$762$449
30 years$2,891$2,072$1,457$1,008$688$397
31 years$2,767$1,959$1,358$926$622$351
32 years$2,651$1,854$1,267$851$563$310
33 years$2,543$1,755$1,183$782$509$274
34 years$2,441$1,664$1,106$720$461$243
35 years$2,346$1,578$1,034$663$418$215
36 years$2,255$1,498$967$610$379$190
37 years$2,170$1,422$905$562$343$168
38 years$2,090$1,352$848$518$311$149
39 years$2,014$1,285$794$478$282$132
40 years$1,941$1,223$744$441$256$117
41 years$1,873$1,164$698$407$232$103
42 years$1,808$1,109$655$375$211$92
43 years$1,746$1,056$614$347$191$81
44 years$1,687$1,007$577$320$173$72
45 years$1,631$960$541$295$158$64
46 years$1,578$916$509$273$143$56
47 years$1,527$874$478$252$130$50
48 years$1,478$835$449$233$118$44
49 years$1,431$797$422$215$107$39
50 years$1,386$761$397$199$97$35

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $1,420,000, adding $5,584 every year, while hoping to spend $24,188 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: 41/50/9 Blend
62$1,420,000$1,420,000$1,420,000$1,420,000
63$1,570,600$1,495,340$1,473,330$1,630,577
64$1,705,065$1,542,876$1,496,951$1,720,644
65$1,852,435$1,591,930$1,520,552$1,815,209
66$2,014,001$1,642,552$1,544,108$1,917,008
67$2,191,184$1,694,792$1,567,590$2,026,707
68$2,385,550$1,748,701$1,590,969$2,145,037
69$2,598,823$1,804,335$1,614,214$2,272,804
70$2,832,903$1,861,748$1,637,291$2,410,891
71$3,089,884$1,920,998$1,660,164$2,560,272
72$3,372,069$1,982,143$1,682,796$2,722,014
73$3,681,997$2,045,246$1,705,148$2,897,295
74$4,022,467$2,110,370$1,727,176$3,087,407
75$4,396,560$2,177,578$1,748,838$3,293,772
76$4,807,669$2,246,940$1,770,084$3,517,955
77$5,259,536$2,318,525$1,790,866$3,761,677
78$5,756,279$2,392,403$1,811,131$4,026,835
79$6,302,439$2,468,651$1,830,824$4,315,511
80$6,903,017$2,547,343$1,849,885$4,630,000
81$7,563,522$2,628,560$1,868,253$4,972,829
82$8,290,024$2,712,383$1,885,863$5,346,776
83$9,089,214$2,798,897$1,902,646$5,754,901
84$9,968,459$2,888,188$1,918,531$6,200,574
85$10,935,880$2,980,347$1,933,439$6,687,503
86$12,000,423$3,075,467$1,947,293$7,219,772
87$13,171,945$3,173,645$1,960,006$7,801,876
88$14,461,309$3,274,978$1,971,491$8,438,769
89$15,880,480$3,379,570$1,981,655$9,135,902
90$17,442,648$3,487,527$1,990,398$9,899,279
91$19,162,340$3,598,959$1,997,619$10,735,513
92$21,055,568$3,713,977$2,003,209$11,651,888
93$23,139,974$3,832,699$2,007,054$12,656,426
94$25,434,996$3,955,246$2,009,035$13,757,961
95$27,962,054$4,081,743$2,009,027$14,966,226
96$30,744,753$4,212,317$2,006,898$16,291,940
97$33,809,099$4,347,102$2,002,511$17,746,912
98$37,183,753$4,486,236$1,995,721$19,344,148
99$40,900,295$4,629,861$1,986,376$21,097,980
100$44,993,524$4,778,122$1,974,318$23,024,190