Can I retire at age 63 with 1,520,000?

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 $1,520,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.3%
1 years$125,520$124,402$123,311$122,247$121,207$116,675
2 years$62,139$60,981$59,860$58,772$57,718$53,203
3 years$41,014$39,852$38,733$37,656$36,618$32,264
4 years$30,454$29,295$28,188$27,129$26,117$21,955
5 years$24,120$22,968$21,875$20,838$19,853$15,896
6 years$19,898$18,755$17,678$16,664$15,709$11,959
7 years$16,884$15,751$14,691$13,700$12,776$9,231
8 years$14,624$13,501$12,459$11,493$10,599$7,256
9 years$12,868$11,755$10,731$9,789$8,926$5,781
10 years$11,463$10,362$9,355$8,439$7,605$4,653
11 years$10,315$9,224$8,236$7,344$6,541$3,774
12 years$9,359$8,279$7,310$6,442$5,668$3,080
13 years$8,550$7,482$6,531$5,687$4,943$2,526
14 years$7,858$6,801$5,868$5,048$4,333$2,079
15 years$7,258$6,213$5,298$4,502$3,815$1,717
16 years$6,734$5,700$4,803$4,031$3,372$1,422
17 years$6,272$5,250$4,371$3,622$2,989$1,180
18 years$5,862$4,851$3,990$3,264$2,658$981
19 years$5,495$4,496$3,653$2,950$2,369$816
20 years$5,166$4,178$3,352$2,671$2,116$680
21 years$4,868$3,891$3,083$2,424$1,894$567
22 years$4,598$3,632$2,842$2,204$1,698$474
23 years$4,352$3,397$2,624$2,008$1,524$396
24 years$4,126$3,183$2,427$1,831$1,370$331
25 years$3,919$2,987$2,248$1,672$1,232$277
26 years$3,728$2,807$2,084$1,529$1,110$231
27 years$3,551$2,642$1,936$1,399$1,001$194
28 years$3,388$2,490$1,799$1,282$903$162
29 years$3,236$2,349$1,675$1,176$815$136
30 years$3,094$2,218$1,560$1,079$737$114
31 years$2,962$2,097$1,454$991$666$95
32 years$2,838$1,984$1,357$911$603$80
33 years$2,722$1,879$1,267$838$545$67
34 years$2,613$1,781$1,184$771$494$56
35 years$2,511$1,689$1,107$709$447$47
36 years$2,414$1,603$1,035$653$405$39
37 years$2,323$1,523$969$602$367$33
38 years$2,237$1,447$907$555$333$28
39 years$2,155$1,376$850$512$302$23
40 years$2,078$1,309$797$472$274$19
41 years$2,005$1,246$747$435$248$16
42 years$1,935$1,187$701$402$225$14
43 years$1,869$1,131$658$371$205$11
44 years$1,806$1,078$617$342$186$10
45 years$1,746$1,028$580$316$169$8
46 years$1,689$981$544$292$153$7
47 years$1,634$936$511$270$139$6
48 years$1,582$893$481$249$126$5
49 years$1,532$853$452$231$115$4
50 years$1,484$815$425$213$104$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $1,520,000, adding $6,416 every year, while hoping to spend $58,902 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: 66/27/7 Blend
62$1,520,000$1,520,000$1,520,000$1,520,000
63$1,681,658$1,601,098$1,577,538$1,790,161
64$1,790,516$1,616,881$1,567,714$1,878,839
65$1,908,503$1,631,462$1,555,587$1,968,069
66$2,036,489$1,644,722$1,541,018$2,064,026
67$2,175,428$1,656,531$1,523,860$2,167,357
68$2,326,373$1,666,753$1,503,960$2,278,777
69$2,490,480$1,675,240$1,481,159$2,399,075
70$2,669,019$1,681,837$1,455,289$2,529,119
71$2,863,392$1,686,381$1,426,174$2,669,867
72$3,075,139$1,688,693$1,393,631$2,822,379
73$3,305,953$1,688,590$1,357,468$2,987,819
74$3,557,701$1,685,871$1,317,484$3,167,474
75$3,832,435$1,680,327$1,273,468$3,362,762
76$4,132,415$1,671,735$1,225,200$3,575,248
77$4,460,128$1,659,857$1,172,452$3,806,658
78$4,818,314$1,644,443$1,114,982$4,058,895
79$5,209,988$1,625,226$1,052,539$4,334,059
80$5,638,468$1,601,924$984,861$4,634,467
81$6,107,411$1,574,238$911,674$4,962,671
82$6,620,842$1,541,850$832,689$5,321,489
83$7,183,192$1,504,425$747,609$5,714,029
84$7,799,344$1,461,608$656,120$6,143,717
85$8,474,672$1,413,022$557,895$6,614,334
86$9,215,097$1,358,268$452,593$7,130,048
87$10,027,140$1,296,926$339,858$7,695,457
88$10,917,982$1,228,550$219,317$8,315,632
89$11,895,535$1,152,667$90,583$8,996,164
90$12,968,511$1,068,780$0$9,743,222
91$14,146,510$976,360$0$10,567,102
92$15,440,103$874,851$0$11,479,256
93$16,860,939$763,664$0$12,481,216
94$18,421,847$642,176$0$13,582,137
95$20,136,961$509,729$0$14,792,115
96$22,021,855$365,629$0$16,122,276
97$24,093,681$209,142$0$17,584,891
98$26,371,340$39,493$0$19,193,487
99$28,875,654$0$0$20,962,975
100$31,629,562$0$0$22,952,620