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%12.8%
1 years$130,475$129,313$128,179$127,072$125,991$124,520
2 years$64,592$63,389$62,223$61,092$59,996$58,515
3 years$42,633$41,425$40,262$39,142$38,064$36,619
4 years$31,656$30,452$29,301$28,200$27,147$25,751
5 years$25,072$23,875$22,738$21,660$20,637$19,292
6 years$20,684$19,495$18,376$17,322$16,329$15,037
7 years$17,550$16,372$15,271$14,241$13,280$12,042
8 years$15,202$14,034$12,951$11,947$11,017$9,832
9 years$13,376$12,219$11,154$10,176$9,278$8,146
10 years$11,916$10,771$9,725$8,772$7,905$6,826
11 years$10,722$9,588$8,561$7,634$6,799$5,771
12 years$9,728$8,606$7,598$6,696$5,892$4,914
13 years$8,888$7,777$6,788$5,912$5,138$4,209
14 years$8,168$7,069$6,099$5,248$4,504$3,623
15 years$7,545$6,458$5,507$4,680$3,965$3,131
16 years$7,000$5,925$4,993$4,190$3,505$2,715
17 years$6,520$5,457$4,543$3,765$3,107$2,362
18 years$6,093$5,042$4,147$3,393$2,763$2,059
19 years$5,712$4,673$3,797$3,066$2,463$1,799
20 years$5,370$4,343$3,484$2,777$2,200$1,575
21 years$5,060$4,045$3,205$2,520$1,969$1,380
22 years$4,779$3,776$2,954$2,291$1,765$1,212
23 years$4,523$3,531$2,727$2,087$1,584$1,065
24 years$4,289$3,309$2,522$1,903$1,424$937
25 years$4,073$3,105$2,336$1,738$1,281$825
26 years$3,875$2,918$2,167$1,589$1,154$727
27 years$3,692$2,746$2,012$1,455$1,040$642
28 years$3,521$2,588$1,870$1,333$939$566
29 years$3,363$2,441$1,741$1,222$848$500
30 years$3,216$2,306$1,621$1,122$766$442
31 years$3,079$2,180$1,512$1,030$692$390
32 years$2,950$2,062$1,410$947$626$345
33 years$2,830$1,953$1,317$871$567$305
34 years$2,716$1,851$1,230$801$513$270
35 years$2,610$1,756$1,150$737$465$239
36 years$2,509$1,666$1,076$679$421$211
37 years$2,415$1,583$1,007$626$382$187
38 years$2,325$1,504$943$577$346$166
39 years$2,240$1,430$884$532$314$147
40 years$2,160$1,361$828$491$285$130
41 years$2,084$1,295$777$453$258$115
42 years$2,012$1,234$728$418$234$102
43 years$1,943$1,175$684$386$213$90
44 years$1,877$1,120$642$356$193$80
45 years$1,815$1,068$603$329$175$71
46 years$1,755$1,019$566$304$159$63
47 years$1,699$973$532$281$144$56
48 years$1,644$929$500$259$131$49
49 years$1,592$887$470$240$119$44
50 years$1,543$847$441$221$108$39

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 $4,226 every year, while hoping to spend $28,068 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: 54/31/15 Blend
62$1,580,000$1,580,000$1,580,000$1,580,000
63$1,745,519$1,661,779$1,637,289$1,832,610
64$1,893,698$1,713,342$1,662,274$1,944,006
65$2,056,050$1,766,491$1,687,156$2,061,830
66$2,233,992$1,821,274$1,711,900$2,189,444
67$2,429,083$1,877,740$1,736,473$2,327,786
68$2,643,041$1,935,941$1,760,836$2,477,889
69$2,877,758$1,995,928$1,784,950$2,640,890
70$3,135,317$2,057,757$1,808,774$2,818,040
71$3,418,014$2,121,482$1,832,263$3,010,717
72$3,728,378$2,187,160$1,855,370$3,220,436
73$4,069,193$2,254,852$1,878,045$3,448,867
74$4,443,527$2,324,616$1,900,236$3,697,846
75$4,854,761$2,396,516$1,921,888$3,969,398
76$5,306,617$2,470,616$1,942,942$4,265,749
77$5,803,198$2,546,983$1,963,337$4,589,352
78$6,349,022$2,625,683$1,983,006$4,942,909
79$6,949,068$2,706,787$2,001,883$5,329,394
80$7,608,821$2,790,368$2,019,894$5,752,084
81$8,334,324$2,876,498$2,036,963$6,214,588
82$9,132,234$2,965,256$2,053,010$6,720,879
83$10,009,887$3,056,718$2,067,951$7,275,335
84$10,975,364$3,150,966$2,081,697$7,882,779
85$12,037,571$3,248,084$2,094,153$8,548,521
86$13,206,319$3,348,155$2,105,223$9,278,414
87$14,492,418$3,451,269$2,114,802$10,078,902
88$15,907,779$3,557,516$2,122,783$10,957,088
89$17,465,527$3,666,989$2,129,050$11,920,792
90$19,180,122$3,779,783$2,133,485$12,978,635
91$21,067,500$3,895,997$2,135,962$14,140,109
92$23,145,216$4,015,732$2,136,348$15,415,677
93$25,432,618$4,139,093$2,134,505$16,816,863
94$27,951,022$4,266,186$2,130,288$18,356,364
95$30,723,918$4,397,121$2,123,545$20,048,172
96$33,777,189$4,532,011$2,114,115$21,907,701
97$37,139,356$4,670,973$2,101,832$23,951,936
98$40,841,846$4,814,126$2,086,519$26,199,589
99$44,919,290$4,961,594$2,067,992$28,671,280
100$49,409,847$5,113,502$2,046,060$31,389,730