Can I retire at age 63 with 1,500,000?

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 $1,500,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$123,869$122,765$121,689$120,638$119,612$118,759
2 years$61,321$60,179$59,072$57,999$56,958$56,098
3 years$40,475$39,328$38,224$37,161$36,137$35,296
4 years$30,053$28,910$27,817$26,772$25,773$24,958
5 years$23,802$22,666$21,587$20,564$19,592$18,806
6 years$19,636$18,508$17,446$16,445$15,503$14,745
7 years$16,662$15,543$14,497$13,520$12,608$11,880
8 years$14,432$13,323$12,295$11,342$10,459$9,762
9 years$12,698$11,600$10,590$9,661$8,808$8,140
10 years$11,312$10,225$9,232$8,328$7,505$6,866
11 years$10,179$9,103$8,128$7,247$6,455$5,844
12 years$9,236$8,170$7,213$6,357$5,593$5,012
13 years$8,438$7,384$6,445$5,612$4,878$4,323
14 years$7,754$6,711$5,791$4,982$4,276$3,748
15 years$7,163$6,131$5,228$4,443$3,765$3,263
16 years$6,646$5,625$4,740$3,978$3,327$2,851
17 years$6,190$5,181$4,313$3,574$2,950$2,499
18 years$5,785$4,787$3,937$3,221$2,623$2,196
19 years$5,423$4,437$3,605$2,911$2,338$1,934
20 years$5,098$4,123$3,308$2,636$2,088$1,706
21 years$4,804$3,840$3,043$2,393$1,869$1,508
22 years$4,537$3,585$2,804$2,175$1,675$1,335
23 years$4,294$3,353$2,589$1,981$1,504$1,183
24 years$4,072$3,141$2,395$1,807$1,352$1,050
25 years$3,867$2,948$2,218$1,650$1,216$933
26 years$3,679$2,770$2,057$1,509$1,096$829
27 years$3,505$2,607$1,910$1,381$988$738
28 years$3,343$2,457$1,776$1,265$891$657
29 years$3,193$2,318$1,652$1,160$805$585
30 years$3,053$2,189$1,539$1,065$727$522
31 years$2,923$2,069$1,435$978$657$465
32 years$2,801$1,958$1,339$899$595$415
33 years$2,686$1,854$1,250$827$538$370
34 years$2,579$1,757$1,168$761$487$331
35 years$2,478$1,667$1,092$700$441$295
36 years$2,382$1,582$1,022$645$400$264
37 years$2,292$1,503$956$594$362$236
38 years$2,207$1,428$895$548$329$211
39 years$2,127$1,358$839$505$298$188
40 years$2,051$1,292$786$466$270$168
41 years$1,978$1,230$737$430$245$150
42 years$1,910$1,171$692$397$222$135
43 years$1,844$1,116$649$366$202$120
44 years$1,782$1,064$609$338$183$108
45 years$1,723$1,014$572$312$166$96
46 years$1,666$968$537$288$151$86
47 years$1,613$923$505$266$137$77
48 years$1,561$882$474$246$125$69
49 years$1,512$842$446$227$113$62
50 years$1,465$804$419$210$103$55

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $1,500,000, adding $5,020 every year, while hoping to spend $38,309 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: 78/9/13 Blend
62$1,500,000$1,500,000$1,500,000$1,500,000
63$1,658,178$1,578,678$1,555,428$1,782,869
64$1,786,552$1,615,273$1,566,774$1,902,251
65$1,926,736$1,652,377$1,577,217$2,027,766
66$2,079,894$1,689,974$1,586,685$2,164,354
67$2,247,308$1,728,048$1,595,104$2,313,103
68$2,430,389$1,766,579$1,602,396$2,475,214
69$2,630,692$1,805,543$1,608,478$2,652,010
70$2,849,925$1,844,918$1,613,265$2,844,947
71$3,089,974$1,884,675$1,616,666$3,055,630
72$3,352,912$1,924,786$1,618,586$3,285,828
73$3,641,025$1,965,216$1,618,924$3,537,486
74$3,956,828$2,005,930$1,617,576$3,812,750
75$4,303,092$2,046,888$1,614,433$4,113,984
76$4,682,869$2,088,047$1,609,378$4,443,791
77$5,099,520$2,129,360$1,602,291$4,805,040
78$5,556,748$2,170,775$1,593,045$5,200,893
79$6,058,632$2,212,239$1,581,507$5,634,831
80$6,609,663$2,253,689$1,567,538$6,110,692
81$7,214,790$2,295,061$1,550,992$6,632,705
82$7,879,465$2,336,285$1,531,716$7,205,527
83$8,609,693$2,377,286$1,509,551$7,834,293
84$9,412,090$2,417,981$1,484,329$8,524,659
85$10,293,943$2,458,282$1,455,875$9,282,857
86$11,263,283$2,498,096$1,424,004$10,115,758
87$12,328,956$2,537,320$1,388,526$11,030,928
88$13,500,706$2,575,846$1,349,239$12,036,708
89$14,789,273$2,613,557$1,305,933$13,142,289
90$16,206,485$2,650,328$1,258,388$14,357,798
91$17,765,378$2,686,025$1,206,375$15,694,396
92$19,480,311$2,720,505$1,149,653$17,164,380
93$21,367,107$2,753,614$1,087,971$18,781,304
94$23,443,201$2,785,190$1,021,067$20,560,102
95$25,727,800$2,815,058$948,666$22,517,232
96$28,242,071$2,843,030$870,481$24,670,831
97$31,009,333$2,868,910$786,213$27,040,887
98$34,055,283$2,892,484$695,549$29,649,424
99$37,408,235$2,913,529$598,163$32,520,714
100$41,099,385$2,931,802$493,712$35,681,507