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

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 $1,580,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$130,475$129,313$128,179$127,072$125,991$123,046
2 years$64,592$63,389$62,223$61,092$59,996$57,045
3 years$42,633$41,425$40,262$39,142$38,064$35,200
4 years$31,656$30,452$29,301$28,200$27,147$24,392
5 years$25,072$23,875$22,738$21,660$20,637$17,998
6 years$20,684$19,495$18,376$17,322$16,329$13,810
7 years$17,550$16,372$15,271$14,241$13,280$10,881
8 years$15,202$14,034$12,951$11,947$11,017$8,737
9 years$13,376$12,219$11,154$10,176$9,278$7,114
10 years$11,916$10,771$9,725$8,772$7,905$5,856
11 years$10,722$9,588$8,561$7,634$6,799$4,862
12 years$9,728$8,606$7,598$6,696$5,892$4,063
13 years$8,888$7,777$6,788$5,912$5,138$3,414
14 years$8,168$7,069$6,099$5,248$4,504$2,882
15 years$7,545$6,458$5,507$4,680$3,965$2,441
16 years$7,000$5,925$4,993$4,190$3,505$2,075
17 years$6,520$5,457$4,543$3,765$3,107$1,767
18 years$6,093$5,042$4,147$3,393$2,763$1,509
19 years$5,712$4,673$3,797$3,066$2,463$1,290
20 years$5,370$4,343$3,484$2,777$2,200$1,105
21 years$5,060$4,045$3,205$2,520$1,969$948
22 years$4,779$3,776$2,954$2,291$1,765$814
23 years$4,523$3,531$2,727$2,087$1,584$699
24 years$4,289$3,309$2,522$1,903$1,424$602
25 years$4,073$3,105$2,336$1,738$1,281$518
26 years$3,875$2,918$2,167$1,589$1,154$446
27 years$3,692$2,746$2,012$1,455$1,040$384
28 years$3,521$2,588$1,870$1,333$939$331
29 years$3,363$2,441$1,741$1,222$848$286
30 years$3,216$2,306$1,621$1,122$766$246
31 years$3,079$2,180$1,512$1,030$692$213
32 years$2,950$2,062$1,410$947$626$183
33 years$2,830$1,953$1,317$871$567$158
34 years$2,716$1,851$1,230$801$513$137
35 years$2,610$1,756$1,150$737$465$118
36 years$2,509$1,666$1,076$679$421$102
37 years$2,415$1,583$1,007$626$382$88
38 years$2,325$1,504$943$577$346$76
39 years$2,240$1,430$884$532$314$66
40 years$2,160$1,361$828$491$285$57
41 years$2,084$1,295$777$453$258$49
42 years$2,012$1,234$728$418$234$42
43 years$1,943$1,175$684$386$213$37
44 years$1,877$1,120$642$356$193$32
45 years$1,815$1,068$603$329$175$27
46 years$1,755$1,019$566$304$159$24
47 years$1,699$973$532$281$144$20
48 years$1,644$929$500$259$131$18
49 years$1,592$887$470$240$119$15
50 years$1,543$847$441$221$108$13

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 $5,719 every year, while hoping to spend $21,961 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: 67/18/15 Blend
62$1,580,000$1,580,000$1,580,000$1,580,000
63$1,747,059$1,663,319$1,638,829$1,857,566
64$1,901,893$1,721,455$1,670,364$1,990,157
65$2,071,784$1,781,704$1,702,218$2,131,969
66$2,258,244$1,844,146$1,734,381$2,286,479
67$2,462,940$1,908,865$1,766,838$2,454,931
68$2,687,707$1,975,947$1,799,575$2,638,693
69$2,934,568$2,045,482$1,832,575$2,839,274
70$3,205,748$2,117,565$1,865,821$3,058,333
71$3,503,703$2,192,294$1,899,294$3,297,697
72$3,831,134$2,269,770$1,932,974$3,559,378
73$4,191,020$2,350,099$1,966,839$3,845,591
74$4,586,641$2,433,392$2,000,865$4,158,776
75$5,021,612$2,519,761$2,035,027$4,501,620
76$5,499,915$2,609,328$2,069,299$4,877,080
77$6,025,937$2,702,215$2,103,651$5,288,415
78$6,604,511$2,798,553$2,138,052$5,739,214
79$7,240,964$2,898,475$2,172,470$6,233,428
80$7,941,163$3,002,120$2,206,868$6,775,413
81$8,711,573$3,109,636$2,241,210$7,369,962
82$9,559,318$3,221,173$2,275,455$8,022,357
83$10,492,247$3,336,888$2,309,561$8,738,418
84$11,519,008$3,456,947$2,343,483$9,524,554
85$12,649,129$3,581,521$2,377,172$10,387,825
86$13,893,112$3,710,786$2,410,578$11,336,010
87$15,262,524$3,844,930$2,443,648$12,377,677
88$16,770,114$3,984,144$2,476,323$13,522,266
89$18,429,929$4,128,630$2,508,543$14,780,178
90$20,257,447$4,278,599$2,540,244$16,162,871
91$22,269,723$4,434,267$2,571,359$17,682,967
92$24,485,551$4,595,862$2,601,816$19,354,375
93$26,925,640$4,763,621$2,631,539$21,192,418
94$29,612,808$4,937,791$2,660,448$23,213,979
95$32,572,201$5,118,630$2,688,460$25,437,659
96$35,831,526$5,306,404$2,715,485$27,883,953
97$39,421,318$5,501,394$2,741,429$30,575,443
98$43,375,220$5,703,889$2,766,195$33,537,010
99$47,730,307$5,914,195$2,789,677$36,796,069
100$52,527,434$6,132,626$2,811,766$40,382,827