Can I retire at age 63 with 1,540,000?

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 $1,540,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.2%
1 years$127,172$126,039$124,934$123,855$122,802$120,175
2 years$62,956$61,784$60,647$59,546$58,477$55,843
3 years$41,554$40,376$39,243$38,152$37,100$34,542
4 years$30,855$29,681$28,559$27,486$26,460$23,997
5 years$24,437$23,270$22,163$21,112$20,115$17,753
6 years$20,160$19,002$17,911$16,883$15,916$13,659
7 years$17,106$15,958$14,884$13,881$12,944$10,792
8 years$14,817$13,679$12,623$11,644$10,738$8,691
9 years$13,037$11,910$10,872$9,918$9,043$7,098
10 years$11,614$10,498$9,478$8,550$7,705$5,861
11 years$10,451$9,346$8,345$7,441$6,627$4,881
12 years$9,482$8,388$7,406$6,527$5,743$4,093
13 years$8,663$7,580$6,617$5,762$5,008$3,451
14 years$7,961$6,890$5,945$5,115$4,390$2,923
15 years$7,354$6,295$5,368$4,562$3,865$2,485
16 years$6,823$5,775$4,866$4,084$3,416$2,119
17 years$6,355$5,319$4,428$3,670$3,029$1,811
18 years$5,939$4,915$4,042$3,307$2,693$1,552
19 years$5,568$4,555$3,701$2,988$2,400$1,332
20 years$5,234$4,233$3,396$2,707$2,144$1,146
21 years$4,932$3,943$3,124$2,456$1,919$986
22 years$4,658$3,680$2,879$2,233$1,720$850
23 years$4,409$3,442$2,658$2,034$1,544$733
24 years$4,180$3,225$2,459$1,855$1,388$633
25 years$3,970$3,026$2,277$1,694$1,249$547
26 years$3,777$2,844$2,112$1,549$1,125$473
27 years$3,598$2,677$1,961$1,418$1,014$409
28 years$3,432$2,522$1,823$1,299$915$354
29 years$3,278$2,380$1,697$1,191$826$307
30 years$3,135$2,247$1,580$1,093$747$266
31 years$3,001$2,124$1,473$1,004$675$230
32 years$2,875$2,010$1,375$923$611$199
33 years$2,758$1,904$1,283$849$553$173
34 years$2,648$1,804$1,199$781$500$150
35 years$2,544$1,711$1,121$719$453$130
36 years$2,446$1,624$1,049$662$411$113
37 years$2,354$1,543$982$610$372$98
38 years$2,266$1,466$919$562$337$85
39 years$2,184$1,394$861$518$306$74
40 years$2,105$1,326$807$478$277$64
41 years$2,031$1,263$757$441$252$55
42 years$1,961$1,202$710$407$228$48
43 years$1,894$1,146$666$376$207$42
44 years$1,830$1,092$625$347$188$36
45 years$1,769$1,041$587$320$171$31
46 years$1,711$993$552$296$155$27
47 years$1,656$948$518$273$141$24
48 years$1,603$905$487$253$128$21
49 years$1,552$864$458$234$116$18
50 years$1,504$826$430$216$106$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $1,540,000, adding $4,126 every year, while hoping to spend $28,174 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: 49/28/23 Blend
62$1,540,000$1,540,000$1,540,000$1,540,000
63$1,701,336$1,619,716$1,595,846$1,773,467
64$1,844,895$1,669,105$1,619,330$1,873,519
65$2,002,153$1,719,970$1,642,656$1,978,988
66$2,174,478$1,772,353$1,665,790$2,092,994
67$2,363,375$1,826,299$1,688,694$2,216,356
68$2,570,503$1,881,851$1,711,329$2,349,972
69$2,797,689$1,939,057$1,733,653$2,494,833
70$3,046,945$1,997,963$1,755,623$2,652,030
71$3,320,488$2,058,617$1,777,191$2,822,761
72$3,620,759$2,121,071$1,798,308$3,008,349
73$3,950,448$2,185,375$1,818,923$3,210,248
74$4,312,517$2,251,581$1,838,980$3,430,061
75$4,710,229$2,319,744$1,858,421$3,669,551
76$5,147,179$2,389,919$1,877,185$3,930,663
77$5,627,329$2,462,162$1,895,208$4,215,535
78$6,155,040$2,536,532$1,912,421$4,526,525
79$6,735,121$2,613,088$1,928,754$4,866,230
80$7,372,866$2,691,892$1,944,130$5,237,508
81$8,074,110$2,773,006$1,958,470$5,643,510
82$8,845,281$2,856,496$1,971,690$6,087,706
83$9,693,461$2,942,425$1,983,704$6,573,919
84$10,626,453$3,030,864$1,994,417$7,106,361
85$11,652,855$3,121,880$2,003,734$7,689,670
86$12,782,139$3,215,544$2,011,551$8,328,960
87$14,024,741$3,311,930$2,017,762$9,029,860
88$15,392,162$3,411,112$2,022,255$9,798,577
89$16,897,072$3,513,166$2,024,910$10,641,947
90$18,553,432$3,618,170$2,025,603$11,567,502
91$20,376,627$3,726,204$2,024,205$12,583,541
92$22,383,605$3,837,351$2,020,579$13,699,209
93$24,593,045$3,951,694$2,014,580$14,924,582
94$27,025,527$4,069,318$2,006,060$16,270,762
95$29,703,728$4,190,311$1,994,860$17,749,984
96$32,652,635$4,314,764$1,980,815$19,375,727
97$35,899,784$4,442,767$1,963,752$21,162,845
98$39,475,514$4,574,415$1,943,489$23,127,706
99$43,413,258$4,709,802$1,919,838$25,288,347
100$47,749,856$4,849,028$1,892,598$27,664,641