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

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 $1,540,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$127,172$126,039$124,934$123,855$122,802$120,421
2 years$62,956$61,784$60,647$59,546$58,477$56,088
3 years$41,554$40,376$39,243$38,152$37,100$34,777
4 years$30,855$29,681$28,559$27,486$26,460$24,222
5 years$24,437$23,270$22,163$21,112$20,115$17,967
6 years$20,160$19,002$17,911$16,883$15,916$13,861
7 years$17,106$15,958$14,884$13,881$12,944$10,983
8 years$14,817$13,679$12,623$11,644$10,738$8,870
9 years$13,037$11,910$10,872$9,918$9,043$7,266
10 years$11,614$10,498$9,478$8,550$7,705$6,018
11 years$10,451$9,346$8,345$7,441$6,627$5,028
12 years$9,482$8,388$7,406$6,527$5,743$4,230
13 years$8,663$7,580$6,617$5,762$5,008$3,578
14 years$7,961$6,890$5,945$5,115$4,390$3,041
15 years$7,354$6,295$5,368$4,562$3,865$2,594
16 years$6,823$5,775$4,866$4,084$3,416$2,220
17 years$6,355$5,319$4,428$3,670$3,029$1,905
18 years$5,939$4,915$4,042$3,307$2,693$1,638
19 years$5,568$4,555$3,701$2,988$2,400$1,411
20 years$5,234$4,233$3,396$2,707$2,144$1,218
21 years$4,932$3,943$3,124$2,456$1,919$1,053
22 years$4,658$3,680$2,879$2,233$1,720$911
23 years$4,409$3,442$2,658$2,034$1,544$789
24 years$4,180$3,225$2,459$1,855$1,388$684
25 years$3,970$3,026$2,277$1,694$1,249$593
26 years$3,777$2,844$2,112$1,549$1,125$515
27 years$3,598$2,677$1,961$1,418$1,014$447
28 years$3,432$2,522$1,823$1,299$915$389
29 years$3,278$2,380$1,697$1,191$826$338
30 years$3,135$2,247$1,580$1,093$747$294
31 years$3,001$2,124$1,473$1,004$675$256
32 years$2,875$2,010$1,375$923$611$223
33 years$2,758$1,904$1,283$849$553$194
34 years$2,648$1,804$1,199$781$500$169
35 years$2,544$1,711$1,121$719$453$147
36 years$2,446$1,624$1,049$662$411$128
37 years$2,354$1,543$982$610$372$111
38 years$2,266$1,466$919$562$337$97
39 years$2,184$1,394$861$518$306$85
40 years$2,105$1,326$807$478$277$74
41 years$2,031$1,263$757$441$252$64
42 years$1,961$1,202$710$407$228$56
43 years$1,894$1,146$666$376$207$49
44 years$1,830$1,092$625$347$188$42
45 years$1,769$1,041$587$320$171$37
46 years$1,711$993$552$296$155$32
47 years$1,656$948$518$273$141$28
48 years$1,603$905$487$253$128$25
49 years$1,552$864$458$234$116$21
50 years$1,504$826$430$216$106$19

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 $2,485 every year, while hoping to spend $21,983 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: 39/34/27 Blend
62$1,540,000$1,540,000$1,540,000$1,540,000
63$1,699,643$1,618,023$1,594,153$1,752,230
64$1,849,617$1,673,917$1,624,168$1,846,695
65$2,014,152$1,731,812$1,654,451$1,946,556
66$2,194,709$1,791,784$1,684,988$2,054,117
67$2,392,898$1,853,911$1,715,765$2,170,093
68$2,610,495$1,918,274$1,746,764$2,295,270
69$2,849,452$1,984,956$1,777,968$2,430,514
70$3,111,923$2,054,046$1,809,356$2,576,775
71$3,400,278$2,125,633$1,840,908$2,735,099
72$3,717,130$2,199,813$1,872,603$2,906,637
73$4,065,357$2,276,683$1,904,414$3,092,653
74$4,448,128$2,356,345$1,936,317$3,294,539
75$4,868,938$2,438,907$1,968,285$3,513,827
76$5,331,634$2,524,478$2,000,286$3,752,202
77$5,840,456$2,613,173$2,032,291$4,011,519
78$6,400,076$2,705,111$2,064,266$4,293,817
79$7,015,639$2,800,417$2,096,174$4,601,344
80$7,692,816$2,899,219$2,127,978$4,936,571
81$8,437,855$3,001,653$2,159,637$5,302,222
82$9,257,640$3,107,858$2,191,109$5,701,292
83$10,159,756$3,217,979$2,222,347$6,137,080
84$11,152,559$3,332,168$2,253,304$6,613,219
85$12,245,257$3,450,582$2,283,927$7,133,708
86$13,447,999$3,573,385$2,314,164$7,702,950
87$14,771,961$3,700,748$2,343,955$8,325,797
88$16,229,465$3,832,848$2,373,241$9,007,589
89$17,834,083$3,969,870$2,401,957$9,754,206
90$19,600,772$4,112,007$2,430,036$10,572,128
91$21,546,014$4,259,458$2,457,405$11,468,489
92$23,687,967$4,412,431$2,483,988$12,451,147
93$26,046,645$4,571,145$2,509,706$13,528,758
94$28,644,096$4,735,825$2,534,475$14,710,855
95$31,504,619$4,906,706$2,558,205$16,007,941
96$34,654,989$5,084,032$2,580,803$17,431,584
97$38,124,708$5,268,061$2,602,171$18,994,529
98$41,946,288$5,459,056$2,622,204$20,710,812
99$46,155,555$5,657,295$2,640,793$22,595,901
100$50,791,986$5,863,066$2,657,824$24,666,831