Can I retire at age 63 with 1,510,000?

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 $1,510,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.5%
1 years$124,694$123,584$122,500$121,442$120,410$117,213
2 years$61,730$60,580$59,466$58,386$57,338$54,140
3 years$40,744$39,590$38,478$37,408$36,377$33,278
4 years$30,254$29,103$28,002$26,951$25,945$22,968
5 years$23,961$22,817$21,731$20,701$19,723$16,876
6 years$19,767$18,632$17,562$16,554$15,606$12,893
7 years$16,773$15,647$14,594$13,610$12,692$10,112
8 years$14,528$13,412$12,377$11,417$10,529$8,081
9 years$12,783$11,678$10,660$9,725$8,867$6,549
10 years$11,388$10,293$9,294$8,383$7,555$5,364
11 years$10,247$9,164$8,182$7,296$6,498$4,431
12 years$9,297$8,225$7,261$6,399$5,631$3,684
13 years$8,494$7,433$6,488$5,650$4,910$3,079
14 years$7,806$6,756$5,829$5,015$4,304$2,584
15 years$7,211$6,172$5,263$4,473$3,790$2,177
16 years$6,690$5,663$4,772$4,005$3,349$1,840
17 years$6,231$5,215$4,342$3,598$2,970$1,558
18 years$5,823$4,819$3,964$3,243$2,641$1,322
19 years$5,459$4,466$3,629$2,930$2,354$1,124
20 years$5,132$4,150$3,330$2,654$2,102$957
21 years$4,836$3,866$3,063$2,408$1,881$816
22 years$4,568$3,608$2,823$2,190$1,686$696
23 years$4,323$3,375$2,607$1,994$1,514$594
24 years$4,099$3,162$2,411$1,819$1,361$508
25 years$3,893$2,967$2,233$1,661$1,224$434
26 years$3,703$2,789$2,071$1,519$1,103$372
27 years$3,528$2,625$1,923$1,390$994$318
28 years$3,365$2,473$1,788$1,274$897$273
29 years$3,214$2,333$1,664$1,168$810$233
30 years$3,074$2,204$1,549$1,072$732$200
31 years$2,942$2,083$1,445$985$662$171
32 years$2,819$1,971$1,348$905$599$147
33 years$2,704$1,867$1,258$832$542$126
34 years$2,596$1,769$1,176$766$491$108
35 years$2,494$1,678$1,099$705$444$93
36 years$2,398$1,593$1,028$649$403$80
37 years$2,308$1,513$963$598$365$68
38 years$2,222$1,438$901$551$331$59
39 years$2,141$1,367$844$508$300$50
40 years$2,064$1,301$792$469$272$43
41 years$1,992$1,238$742$433$247$37
42 years$1,922$1,179$696$399$224$32
43 years$1,857$1,123$653$368$203$27
44 years$1,794$1,071$613$340$184$23
45 years$1,734$1,021$576$314$167$20
46 years$1,678$974$541$290$152$17
47 years$1,623$930$508$268$138$15
48 years$1,571$887$477$248$125$13
49 years$1,522$847$449$229$114$11
50 years$1,474$809$422$212$103$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $1,510,000, adding $2,945 every year, while hoping to spend $57,965 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: 55/37/8 Blend
62$1,510,000$1,510,000$1,510,000$1,510,000
63$1,667,058$1,587,028$1,563,623$1,755,423
64$1,775,423$1,603,118$1,554,330$1,831,558
65$1,892,899$1,618,054$1,542,783$1,907,752
66$2,020,354$1,631,717$1,528,845$1,989,307
67$2,158,742$1,643,983$1,512,373$2,076,742
68$2,309,114$1,654,718$1,493,218$2,170,629
69$2,472,624$1,663,780$1,471,221$2,271,600
70$2,650,543$1,671,017$1,446,219$2,380,353
71$2,844,270$1,676,268$1,418,039$2,497,659
72$3,055,344$1,679,364$1,386,501$2,624,370
73$3,285,457$1,680,121$1,351,417$2,761,427
74$3,536,474$1,678,346$1,312,589$2,909,866
75$3,810,445$1,673,836$1,269,812$3,070,836
76$4,109,628$1,666,372$1,222,868$3,245,604
77$4,436,510$1,655,724$1,171,534$3,435,566
78$4,793,826$1,641,646$1,115,572$3,642,268
79$5,184,589$1,623,880$1,054,737$3,867,415
80$5,612,116$1,602,149$988,770$4,112,889
81$6,080,061$1,576,163$917,402$4,380,768
82$6,592,444$1,545,612$840,352$4,673,349
83$7,153,695$1,510,169$757,326$4,993,163
84$7,768,692$1,469,487$668,016$5,343,007
85$8,442,805$1,423,199$572,102$5,725,970
86$9,181,952$1,370,917$469,248$6,145,457
87$9,992,649$1,312,229$359,105$6,605,231
88$10,882,072$1,246,701$241,308$7,109,442
89$11,858,126$1,173,872$115,475$7,662,673
90$12,929,520$1,093,257$0$8,269,978
91$14,105,845$1,004,340$0$8,938,545
92$15,397,666$906,578$0$9,683,547
93$16,816,624$799,396$0$10,501,950
94$18,375,539$682,186$0$11,401,289
95$20,088,538$554,307$0$12,389,876
96$21,971,182$415,081$0$13,476,879
97$24,040,614$263,792$0$14,672,411
98$26,315,722$99,683$0$15,987,628
99$28,817,315$0$0$17,434,830
100$31,568,317$0$0$19,059,361