Can I retire at age 63 with 1,600,000?

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 $1,600,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$132,127$130,950$129,801$128,681$127,586$123,552
2 years$65,409$64,191$63,010$61,866$60,755$56,727
3 years$43,173$41,950$40,772$39,638$38,546$34,650
4 years$32,057$30,837$29,671$28,557$27,491$23,758
5 years$25,389$24,177$23,026$21,934$20,898$17,338
6 years$20,945$19,742$18,609$17,541$16,536$13,152
7 years$17,773$16,579$15,464$14,422$13,448$10,239
8 years$15,394$14,212$13,115$12,098$11,157$8,121
9 years$13,545$12,374$11,296$10,305$9,396$6,529
10 years$12,067$10,907$9,848$8,883$8,005$5,305
11 years$10,858$9,710$8,670$7,731$6,885$4,345
12 years$9,851$8,715$7,694$6,781$5,966$3,581
13 years$9,000$7,876$6,874$5,986$5,203$2,967
14 years$8,271$7,159$6,177$5,314$4,561$2,469
15 years$7,640$6,540$5,577$4,739$4,016$2,061
16 years$7,089$6,000$5,056$4,243$3,549$1,725
17 years$6,602$5,526$4,601$3,813$3,147$1,447
18 years$6,171$5,106$4,200$3,436$2,798$1,216
19 years$5,785$4,732$3,845$3,105$2,494$1,024
20 years$5,438$4,398$3,529$2,812$2,228$863
21 years$5,124$4,096$3,246$2,552$1,993$728
22 years$4,840$3,824$2,991$2,320$1,787$615
23 years$4,581$3,576$2,762$2,113$1,604$520
24 years$4,343$3,351$2,554$1,927$1,442$440
25 years$4,125$3,144$2,366$1,760$1,297$372
26 years$3,924$2,955$2,194$1,609$1,169$315
27 years$3,738$2,781$2,038$1,473$1,054$267
28 years$3,566$2,621$1,894$1,350$951$226
29 years$3,406$2,472$1,763$1,238$858$192
30 years$3,257$2,335$1,642$1,136$776$163
31 years$3,118$2,207$1,531$1,043$701$138
32 years$2,987$2,088$1,428$959$634$117
33 years$2,865$1,978$1,333$882$574$99
34 years$2,751$1,875$1,246$811$520$84
35 years$2,643$1,778$1,165$747$471$71
36 years$2,541$1,688$1,090$688$427$61
37 years$2,445$1,603$1,020$634$387$51
38 years$2,355$1,523$955$584$350$44
39 years$2,269$1,448$895$539$318$37
40 years$2,187$1,378$839$497$288$31
41 years$2,110$1,312$786$458$262$27
42 years$2,037$1,249$738$423$237$23
43 years$1,967$1,190$692$390$215$19
44 years$1,901$1,135$650$361$195$16
45 years$1,838$1,082$610$333$177$14
46 years$1,778$1,032$573$308$161$12
47 years$1,720$985$538$284$146$10
48 years$1,665$940$506$263$133$8
49 years$1,612$898$476$243$121$7
50 years$1,562$858$447$224$110$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $1,600,000, adding $5,507 every year, while hoping to spend $20,370 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: 50/34/16 Blend
62$1,600,000$1,600,000$1,600,000$1,600,000
63$1,768,880$1,684,080$1,659,280$1,849,261
64$1,927,633$1,744,927$1,693,193$1,966,040
65$2,101,895$1,808,072$1,727,559$2,090,313
66$2,293,228$1,873,607$1,762,371$2,224,919
67$2,503,350$1,941,627$1,797,624$2,370,839
68$2,734,156$2,012,231$1,833,308$2,529,150
69$2,987,731$2,085,521$1,869,415$2,701,036
70$3,266,373$2,161,605$1,905,934$2,887,801
71$3,572,614$2,240,595$1,942,854$3,090,878
72$3,909,244$2,322,607$1,980,163$3,311,843
73$4,279,335$2,407,763$2,017,847$3,552,430
74$4,686,273$2,496,189$2,055,890$3,814,547
75$5,133,788$2,588,017$2,094,277$4,100,295
76$5,625,988$2,683,385$2,132,990$4,411,983
77$6,167,403$2,782,434$2,172,009$4,752,154
78$6,763,020$2,885,316$2,211,313$5,123,607
79$7,418,336$2,992,184$2,250,880$5,529,421
80$8,139,408$3,103,202$2,290,686$5,972,989
81$8,932,907$3,218,539$2,330,703$6,458,042
82$9,806,186$3,338,370$2,370,905$6,988,691
83$10,767,347$3,462,880$2,411,260$7,569,458
84$11,825,316$3,592,261$2,451,737$8,205,327
85$12,989,928$3,726,711$2,492,299$8,901,781
86$14,272,021$3,866,440$2,532,912$9,664,861
87$15,683,536$4,011,665$2,573,534$10,501,218
88$17,237,633$4,162,613$2,614,123$11,418,176
89$18,948,811$4,319,520$2,654,636$12,423,802
90$20,833,046$4,482,633$2,695,022$13,526,978
91$22,907,945$4,652,210$2,735,233$14,737,489
92$25,192,905$4,828,518$2,775,214$16,066,111
93$27,709,305$5,011,839$2,814,907$17,524,713
94$30,480,699$5,202,464$2,854,251$19,126,368
95$33,533,044$5,400,699$2,893,183$20,885,477
96$36,894,943$5,606,862$2,931,633$22,817,901
97$40,597,914$5,821,285$2,969,529$24,941,115
98$44,676,688$6,044,314$3,006,795$27,274,367
99$49,169,537$6,276,313$3,043,350$29,838,859
100$54,118,635$6,517,657$3,079,107$32,657,951