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

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 $1,520,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$125,520$124,402$123,311$122,247$121,207$119,396
2 years$62,139$60,981$59,860$58,772$57,718$55,897
3 years$41,014$39,852$38,733$37,656$36,618$34,845
4 years$30,454$29,295$28,188$27,129$26,117$24,404
5 years$24,120$22,968$21,875$20,838$19,853$18,206
6 years$19,898$18,755$17,678$16,664$15,709$14,130
7 years$16,884$15,751$14,691$13,700$12,776$11,265
8 years$14,624$13,501$12,459$11,493$10,599$9,156
9 years$12,868$11,755$10,731$9,789$8,926$7,550
10 years$11,463$10,362$9,355$8,439$7,605$6,296
11 years$10,315$9,224$8,236$7,344$6,541$5,296
12 years$9,359$8,279$7,310$6,442$5,668$4,487
13 years$8,550$7,482$6,531$5,687$4,943$3,823
14 years$7,858$6,801$5,868$5,048$4,333$3,273
15 years$7,258$6,213$5,298$4,502$3,815$2,814
16 years$6,734$5,700$4,803$4,031$3,372$2,426
17 years$6,272$5,250$4,371$3,622$2,989$2,098
18 years$5,862$4,851$3,990$3,264$2,658$1,819
19 years$5,495$4,496$3,653$2,950$2,369$1,580
20 years$5,166$4,178$3,352$2,671$2,116$1,375
21 years$4,868$3,891$3,083$2,424$1,894$1,198
22 years$4,598$3,632$2,842$2,204$1,698$1,045
23 years$4,352$3,397$2,624$2,008$1,524$913
24 years$4,126$3,183$2,427$1,831$1,370$799
25 years$3,919$2,987$2,248$1,672$1,232$699
26 years$3,728$2,807$2,084$1,529$1,110$612
27 years$3,551$2,642$1,936$1,399$1,001$536
28 years$3,388$2,490$1,799$1,282$903$470
29 years$3,236$2,349$1,675$1,176$815$413
30 years$3,094$2,218$1,560$1,079$737$362
31 years$2,962$2,097$1,454$991$666$318
32 years$2,838$1,984$1,357$911$603$279
33 years$2,722$1,879$1,267$838$545$245
34 years$2,613$1,781$1,184$771$494$215
35 years$2,511$1,689$1,107$709$447$189
36 years$2,414$1,603$1,035$653$405$166
37 years$2,323$1,523$969$602$367$146
38 years$2,237$1,447$907$555$333$129
39 years$2,155$1,376$850$512$302$113
40 years$2,078$1,309$797$472$274$100
41 years$2,005$1,246$747$435$248$88
42 years$1,935$1,187$701$402$225$77
43 years$1,869$1,131$658$371$205$68
44 years$1,806$1,078$617$342$186$60
45 years$1,746$1,028$580$316$169$52
46 years$1,689$981$544$292$153$46
47 years$1,634$936$511$270$139$41
48 years$1,582$893$481$249$126$36
49 years$1,532$853$452$231$115$31
50 years$1,484$815$425$213$104$28

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 $5,376 every year, while hoping to spend $35,482 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: 51/22/27 Blend
62$1,520,000$1,520,000$1,520,000$1,520,000
63$1,680,585$1,600,025$1,576,465$1,753,283
64$1,814,252$1,640,674$1,591,524$1,845,100
65$1,960,364$1,682,125$1,605,899$1,940,881
66$2,120,153$1,724,381$1,619,528$2,044,328
67$2,294,975$1,767,442$1,632,348$2,156,188
68$2,486,324$1,811,308$1,644,293$2,277,279
69$2,695,843$1,855,976$1,655,292$2,408,508
70$2,925,346$1,901,445$1,665,270$2,550,871
71$3,176,825$1,947,710$1,674,150$2,705,465
72$3,452,477$1,994,764$1,681,850$2,873,501
73$3,754,721$2,042,599$1,688,284$3,056,313
74$4,086,223$2,091,207$1,693,362$3,255,371
75$4,449,916$2,140,574$1,696,988$3,472,295
76$4,849,033$2,190,688$1,699,063$3,708,871
77$5,287,135$2,241,532$1,699,482$3,967,067
78$5,768,143$2,293,088$1,698,135$4,249,054
79$6,296,378$2,345,334$1,694,907$4,557,221
80$6,876,600$2,398,246$1,689,677$4,894,205
81$7,514,051$2,451,798$1,682,319$5,262,911
82$8,214,507$2,505,959$1,672,700$5,666,541
83$8,984,332$2,560,695$1,660,680$6,108,625
84$9,830,534$2,615,971$1,646,114$6,593,054
85$10,760,839$2,671,743$1,628,848$7,124,116
86$11,783,753$2,727,967$1,608,724$7,706,537
87$12,908,652$2,784,593$1,585,572$8,345,530
88$14,145,863$2,841,567$1,559,217$9,046,836
89$15,506,767$2,898,830$1,529,477$9,816,788
90$17,003,901$2,956,316$1,496,158$10,662,361
91$18,651,079$3,013,956$1,459,059$11,591,250
92$20,463,521$3,071,672$1,417,971$12,611,930
93$22,457,999$3,129,383$1,372,671$13,733,748
94$24,652,990$3,186,998$1,322,931$14,967,004
95$27,068,856$3,244,421$1,268,509$16,323,051
96$29,728,029$3,301,547$1,209,154$17,814,404
97$32,655,229$3,358,265$1,144,602$19,454,856
98$35,877,695$3,414,452$1,074,579$21,259,611
99$39,425,438$3,469,979$998,796$23,245,426
100$43,331,530$3,524,705$916,953$25,430,773