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%14.6%
1 years$117,262$116,218$115,199$114,204$113,233$111,083
2 years$58,051$56,969$55,922$54,906$53,920$51,763
3 years$38,316$37,230$36,185$35,179$34,209$32,111
4 years$28,451$27,368$26,333$25,344$24,398$22,376
5 years$22,533$21,457$20,436$19,467$18,547$16,606
6 years$18,589$17,521$16,515$15,568$14,676$12,819
7 years$15,773$14,714$13,724$12,799$11,935$10,162
8 years$13,662$12,613$11,639$10,737$9,902$8,212
9 years$12,021$10,982$10,025$9,145$8,339$6,732
10 years$10,709$9,680$8,740$7,883$7,105$5,579
11 years$9,636$8,617$7,694$6,861$6,110$4,664
12 years$8,743$7,735$6,829$6,018$5,295$3,926
13 years$7,988$6,990$6,101$5,313$4,617$3,323
14 years$7,341$6,354$5,482$4,716$4,048$2,826
15 years$6,781$5,804$4,949$4,206$3,564$2,412
16 years$6,291$5,325$4,487$3,766$3,150$2,066
17 years$5,860$4,904$4,083$3,384$2,793$1,774
18 years$5,476$4,532$3,727$3,049$2,483$1,527
19 years$5,134$4,200$3,412$2,755$2,213$1,316
20 years$4,826$3,903$3,132$2,496$1,977$1,137
21 years$4,548$3,635$2,880$2,265$1,769$983
22 years$4,295$3,393$2,655$2,059$1,586$851
23 years$4,065$3,174$2,451$1,875$1,424$738
24 years$3,855$2,974$2,267$1,711$1,280$640
25 years$3,661$2,791$2,100$1,562$1,151$556
26 years$3,483$2,623$1,947$1,428$1,037$483
27 years$3,318$2,468$1,808$1,307$935$420
28 years$3,165$2,326$1,681$1,198$844$365
29 years$3,023$2,194$1,564$1,098$762$318
30 years$2,891$2,072$1,457$1,008$688$277
31 years$2,767$1,959$1,358$926$622$241
32 years$2,651$1,854$1,267$851$563$210
33 years$2,543$1,755$1,183$782$509$183
34 years$2,441$1,664$1,106$720$461$159
35 years$2,346$1,578$1,034$663$418$139
36 years$2,255$1,498$967$610$379$121
37 years$2,170$1,422$905$562$343$105
38 years$2,090$1,352$848$518$311$92
39 years$2,014$1,285$794$478$282$80
40 years$1,941$1,223$744$441$256$70
41 years$1,873$1,164$698$407$232$61
42 years$1,808$1,109$655$375$211$53
43 years$1,746$1,056$614$347$191$46
44 years$1,687$1,007$577$320$173$40
45 years$1,631$960$541$295$158$35
46 years$1,578$916$509$273$143$31
47 years$1,527$874$478$252$130$27
48 years$1,478$835$449$233$118$23
49 years$1,431$797$422$215$107$20
50 years$1,386$761$397$199$97$18

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 $3,476 every year, while hoping to spend $40,402 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: 30/50/20 Blend
62$1,420,000$1,420,000$1,420,000$1,420,000
63$1,568,425$1,493,165$1,471,155$1,605,553
64$1,685,417$1,523,343$1,477,452$1,664,238
65$1,812,989$1,553,645$1,482,605$1,723,456
66$1,952,175$1,584,036$1,486,534$1,786,309
67$2,104,118$1,614,475$1,489,154$1,853,137
68$2,270,073$1,644,919$1,490,375$1,924,314
69$2,451,422$1,675,322$1,490,105$2,000,253
70$2,649,688$1,705,633$1,488,244$2,081,411
71$2,866,546$1,735,799$1,484,690$2,168,292
72$3,103,840$1,765,760$1,479,334$2,261,454
73$3,363,604$1,795,454$1,472,063$2,361,510
74$3,648,073$1,824,813$1,462,759$2,469,142
75$3,959,712$1,853,764$1,451,297$2,585,099
76$4,301,233$1,882,229$1,437,546$2,710,212
77$4,675,624$1,910,124$1,421,369$2,845,394
78$5,086,177$1,937,359$1,402,624$2,991,659
79$5,536,516$1,963,839$1,381,161$3,150,122
80$6,030,634$1,989,460$1,356,823$3,322,018
81$6,572,927$2,014,112$1,329,445$3,508,709
82$7,168,240$2,037,678$1,298,856$3,711,698
83$7,821,909$2,060,032$1,264,876$3,932,649
84$8,539,811$2,081,040$1,227,316$4,173,393
85$9,328,420$2,100,561$1,185,980$4,435,957
86$10,194,871$2,118,440$1,140,663$4,722,577
87$11,147,021$2,134,516$1,091,148$5,035,721
88$12,193,527$2,148,617$1,037,211$5,378,113
89$13,343,925$2,160,559$978,616$5,752,763
90$14,608,725$2,170,145$915,119$6,162,991
91$15,999,500$2,177,168$846,461$6,612,461
92$17,529,007$2,181,407$772,375$7,105,218
93$19,211,296$2,182,626$692,581$7,645,729
94$21,061,851$2,180,577$606,784$8,238,919
95$23,097,728$2,174,994$514,680$8,890,226
96$25,337,723$2,165,596$415,949$9,605,650
97$27,802,545$2,152,084$310,257$10,391,812
98$30,515,010$2,134,142$197,256$11,256,018
99$33,500,260$2,111,433$76,583$12,206,328
100$36,785,996$2,083,603$0$13,251,636