Can I retire at age 63 with 1,580,000?

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 $1,580,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$130,475$129,313$128,179$127,072$125,991$122,400
2 years$64,592$63,389$62,223$61,092$59,996$56,405
3 years$42,633$41,425$40,262$39,142$38,064$34,587
4 years$31,656$30,452$29,301$28,200$27,147$23,811
5 years$25,072$23,875$22,738$21,660$20,637$17,450
6 years$20,684$19,495$18,376$17,322$16,329$13,294
7 years$17,550$16,372$15,271$14,241$13,280$10,398
8 years$15,202$14,034$12,951$11,947$11,017$8,285
9 years$13,376$12,219$11,154$10,176$9,278$6,694
10 years$11,916$10,771$9,725$8,772$7,905$5,466
11 years$10,722$9,588$8,561$7,634$6,799$4,500
12 years$9,728$8,606$7,598$6,696$5,892$3,729
13 years$8,888$7,777$6,788$5,912$5,138$3,106
14 years$8,168$7,069$6,099$5,248$4,504$2,599
15 years$7,545$6,458$5,507$4,680$3,965$2,181
16 years$7,000$5,925$4,993$4,190$3,505$1,836
17 years$6,520$5,457$4,543$3,765$3,107$1,550
18 years$6,093$5,042$4,147$3,393$2,763$1,310
19 years$5,712$4,673$3,797$3,066$2,463$1,110
20 years$5,370$4,343$3,484$2,777$2,200$941
21 years$5,060$4,045$3,205$2,520$1,969$799
22 years$4,779$3,776$2,954$2,291$1,765$679
23 years$4,523$3,531$2,727$2,087$1,584$578
24 years$4,289$3,309$2,522$1,903$1,424$492
25 years$4,073$3,105$2,336$1,738$1,281$419
26 years$3,875$2,918$2,167$1,589$1,154$357
27 years$3,692$2,746$2,012$1,455$1,040$304
28 years$3,521$2,588$1,870$1,333$939$260
29 years$3,363$2,441$1,741$1,222$848$222
30 years$3,216$2,306$1,621$1,122$766$189
31 years$3,079$2,180$1,512$1,030$692$161
32 years$2,950$2,062$1,410$947$626$138
33 years$2,830$1,953$1,317$871$567$118
34 years$2,716$1,851$1,230$801$513$100
35 years$2,610$1,756$1,150$737$465$86
36 years$2,509$1,666$1,076$679$421$73
37 years$2,415$1,583$1,007$626$382$63
38 years$2,325$1,504$943$577$346$53
39 years$2,240$1,430$884$532$314$46
40 years$2,160$1,361$828$491$285$39
41 years$2,084$1,295$777$453$258$33
42 years$2,012$1,234$728$418$234$29
43 years$1,943$1,175$684$386$213$24
44 years$1,877$1,120$642$356$193$21
45 years$1,815$1,068$603$329$175$18
46 years$1,755$1,019$566$304$159$15
47 years$1,699$973$532$281$144$13
48 years$1,644$929$500$259$131$11
49 years$1,592$887$470$240$119$9
50 years$1,543$847$441$221$108$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $1,580,000, adding $6,305 every year, while hoping to spend $24,463 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: 44/40/16 Blend
62$1,580,000$1,580,000$1,580,000$1,580,000
63$1,747,664$1,663,924$1,639,434$1,816,232
64$1,899,897$1,719,427$1,668,326$1,920,386
65$2,066,838$1,776,831$1,697,367$2,030,278
66$2,249,961$1,836,202$1,726,535$2,148,865
67$2,450,891$1,897,609$1,755,807$2,276,960
68$2,671,416$1,961,126$1,785,160$2,415,456
69$2,913,506$2,026,826$1,814,569$2,565,337
70$3,179,331$2,094,789$1,844,005$2,727,682
71$3,471,284$2,165,094$1,873,440$2,903,680
72$3,791,996$2,237,826$1,902,842$3,094,639
73$4,144,371$2,313,070$1,932,178$3,301,995
74$4,531,604$2,390,918$1,961,413$3,527,331
75$4,957,217$2,471,462$1,990,509$3,772,388
76$5,425,089$2,554,800$2,019,427$4,039,081
77$5,939,494$2,641,031$2,048,125$4,329,517
78$6,505,142$2,730,261$2,076,556$4,646,016
79$7,127,220$2,822,597$2,104,674$4,991,132
80$7,811,445$2,918,153$2,132,429$5,367,674
81$8,564,113$3,017,043$2,159,767$5,778,738
82$9,392,165$3,119,391$2,186,631$6,227,728
83$10,303,246$3,225,320$2,212,963$6,718,395
84$11,305,778$3,334,962$2,238,698$7,254,867
85$12,409,044$3,448,452$2,263,772$7,841,692
86$13,623,271$3,565,931$2,288,112$8,483,875
87$14,959,727$3,687,544$2,311,646$9,186,929
88$16,430,828$3,813,442$2,334,295$9,956,926
89$18,050,255$3,943,784$2,355,977$10,800,551
90$19,833,084$4,078,732$2,376,605$11,725,169
91$21,795,925$4,218,456$2,396,088$12,738,889
92$23,957,081$4,363,133$2,414,329$13,850,646
93$26,336,722$4,512,945$2,431,227$15,070,278
94$28,957,071$4,668,082$2,446,676$16,408,623
95$31,842,616$4,828,742$2,460,564$17,877,621
96$35,020,342$4,995,130$2,472,772$19,490,422
97$38,519,985$5,167,459$2,483,178$21,261,513
98$42,374,309$5,345,950$2,491,650$23,206,853
99$46,619,421$5,530,834$2,498,053$25,344,023
100$51,295,107$5,722,350$2,502,242$27,692,392