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

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 $1,420,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.6%
1 years$117,262$116,218$115,199$114,204$113,233$110,630
2 years$58,051$56,969$55,922$54,906$53,920$51,313
3 years$38,316$37,230$36,185$35,179$34,209$31,678
4 years$28,451$27,368$26,333$25,344$24,398$21,963
5 years$22,533$21,457$20,436$19,467$18,547$16,214
6 years$18,589$17,521$16,515$15,568$14,676$12,448
7 years$15,773$14,714$13,724$12,799$11,935$9,813
8 years$13,662$12,613$11,639$10,737$9,902$7,884
9 years$12,021$10,982$10,025$9,145$8,339$6,424
10 years$10,709$9,680$8,740$7,883$7,105$5,291
11 years$9,636$8,617$7,694$6,861$6,110$4,395
12 years$8,743$7,735$6,829$6,018$5,295$3,676
13 years$7,988$6,990$6,101$5,313$4,617$3,091
14 years$7,341$6,354$5,482$4,716$4,048$2,611
15 years$6,781$5,804$4,949$4,206$3,564$2,213
16 years$6,291$5,325$4,487$3,766$3,150$1,882
17 years$5,860$4,904$4,083$3,384$2,793$1,604
18 years$5,476$4,532$3,727$3,049$2,483$1,371
19 years$5,134$4,200$3,412$2,755$2,213$1,173
20 years$4,826$3,903$3,132$2,496$1,977$1,006
21 years$4,548$3,635$2,880$2,265$1,769$863
22 years$4,295$3,393$2,655$2,059$1,586$742
23 years$4,065$3,174$2,451$1,875$1,424$638
24 years$3,855$2,974$2,267$1,711$1,280$549
25 years$3,661$2,791$2,100$1,562$1,151$473
26 years$3,483$2,623$1,947$1,428$1,037$408
27 years$3,318$2,468$1,808$1,307$935$351
28 years$3,165$2,326$1,681$1,198$844$303
29 years$3,023$2,194$1,564$1,098$762$262
30 years$2,891$2,072$1,457$1,008$688$226
31 years$2,767$1,959$1,358$926$622$195
32 years$2,651$1,854$1,267$851$563$168
33 years$2,543$1,755$1,183$782$509$146
34 years$2,441$1,664$1,106$720$461$126
35 years$2,346$1,578$1,034$663$418$109
36 years$2,255$1,498$967$610$379$94
37 years$2,170$1,422$905$562$343$81
38 years$2,090$1,352$848$518$311$70
39 years$2,014$1,285$794$478$282$61
40 years$1,941$1,223$744$441$256$52
41 years$1,873$1,164$698$407$232$45
42 years$1,808$1,109$655$375$211$39
43 years$1,746$1,056$614$347$191$34
44 years$1,687$1,007$577$320$173$29
45 years$1,631$960$541$295$158$25
46 years$1,578$916$509$273$143$22
47 years$1,527$874$478$252$130$19
48 years$1,478$835$449$233$118$16
49 years$1,431$797$422$215$107$14
50 years$1,386$761$397$199$97$12

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 $4,891 every year, while hoping to spend $42,745 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: 60/10/30 Blend
62$1,420,000$1,420,000$1,420,000$1,420,000
63$1,569,885$1,494,625$1,472,615$1,650,994
64$1,684,533$1,522,381$1,476,467$1,734,753
65$1,809,442$1,550,065$1,479,016$1,821,146
66$1,945,615$1,577,628$1,480,172$1,914,546
67$2,094,152$1,605,016$1,479,843$2,015,646
68$2,256,269$1,632,175$1,477,930$2,125,213
69$2,433,299$1,659,042$1,474,332$2,244,092
70$2,626,713$1,685,553$1,468,940$2,373,214
71$2,838,130$1,711,637$1,461,641$2,513,607
72$3,069,331$1,737,220$1,452,319$2,666,406
73$3,322,279$1,762,219$1,440,847$2,832,861
74$3,599,134$1,786,550$1,427,098$3,014,351
75$3,902,275$1,810,120$1,410,935$3,212,397
76$4,234,320$1,832,830$1,392,214$3,428,677
77$4,598,156$1,854,573$1,370,789$3,665,041
78$4,996,959$1,875,238$1,346,501$3,923,531
79$5,434,228$1,894,704$1,319,188$4,206,395
80$5,913,817$1,912,843$1,288,679$4,516,117
81$6,439,971$1,929,517$1,254,795$4,855,432
82$7,017,366$1,944,581$1,217,348$5,227,361
83$7,651,152$1,957,880$1,176,144$5,635,230
84$8,347,001$1,969,248$1,130,976$6,082,710
85$9,111,163$1,978,508$1,081,631$6,573,849
86$9,950,521$1,985,475$1,027,886$7,113,109
87$10,872,660$1,989,949$969,505$7,705,411
88$11,885,933$1,991,718$906,245$8,356,182
89$12,999,544$1,990,558$837,851$9,071,404
90$14,223,632$1,986,231$764,054$9,857,673
91$15,569,370$1,978,483$684,576$10,722,264
92$17,049,062$1,967,045$599,126$11,673,195
93$18,676,269$1,951,633$507,400$12,719,308
94$20,465,929$1,931,944$409,079$13,870,350
95$22,434,503$1,907,658$303,831$15,137,067
96$24,600,123$1,878,435$191,311$16,531,309
97$26,982,773$1,843,914$71,157$18,066,136
98$29,604,465$1,803,716$0$19,755,948
99$32,489,458$1,757,435$0$21,634,887
100$35,664,478$1,704,645$0$23,727,681