Can I retire at age 63 with 1,660,000?

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 $1,660,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.1%
1 years$137,081$135,860$134,669$133,506$132,371$128,031
2 years$67,862$66,598$65,373$64,186$63,034$58,703
3 years$44,792$43,523$42,301$41,124$39,991$35,805
4 years$33,259$31,994$30,784$29,628$28,522$24,513
5 years$26,341$25,083$23,890$22,757$21,682$17,861
6 years$21,731$20,483$19,306$18,199$17,156$13,526
7 years$18,439$17,201$16,044$14,962$13,953$10,512
8 years$15,971$14,745$13,606$12,552$11,575$8,323
9 years$14,053$12,838$11,719$10,691$9,748$6,679
10 years$12,519$11,316$10,217$9,216$8,306$5,416
11 years$11,265$10,074$8,995$8,021$7,143$4,428
12 years$10,221$9,042$7,983$7,035$6,190$3,642
13 years$9,338$8,171$7,132$6,211$5,398$3,012
14 years$8,582$7,427$6,408$5,513$4,732$2,500
15 years$7,927$6,785$5,786$4,917$4,166$2,083
16 years$7,354$6,225$5,246$4,403$3,682$1,740
17 years$6,850$5,733$4,773$3,956$3,265$1,456
18 years$6,402$5,298$4,357$3,565$2,903$1,221
19 years$6,002$4,910$3,989$3,221$2,587$1,026
20 years$5,642$4,562$3,661$2,917$2,311$863
21 years$5,317$4,250$3,367$2,648$2,068$726
22 years$5,021$3,967$3,104$2,407$1,854$612
23 years$4,752$3,710$2,866$2,192$1,664$516
24 years$4,506$3,476$2,650$2,000$1,496$436
25 years$4,280$3,262$2,455$1,826$1,346$368
26 years$4,071$3,066$2,276$1,670$1,212$311
27 years$3,878$2,885$2,114$1,528$1,093$263
28 years$3,700$2,719$1,965$1,400$986$222
29 years$3,534$2,565$1,829$1,284$891$188
30 years$3,379$2,422$1,703$1,179$805$159
31 years$3,235$2,290$1,588$1,082$728$134
32 years$3,099$2,167$1,482$995$658$114
33 years$2,973$2,052$1,383$915$596$96
34 years$2,854$1,945$1,293$842$539$81
35 years$2,742$1,845$1,208$775$488$69
36 years$2,636$1,751$1,131$714$443$58
37 years$2,537$1,663$1,058$657$401$49
38 years$2,443$1,580$991$606$364$42
39 years$2,354$1,503$928$559$330$35
40 years$2,269$1,430$870$515$299$30
41 years$2,189$1,361$816$475$271$25
42 years$2,113$1,296$765$439$246$21
43 years$2,041$1,235$718$405$223$18
44 years$1,972$1,177$674$374$203$15
45 years$1,907$1,123$633$345$184$13
46 years$1,844$1,071$595$319$167$11
47 years$1,785$1,022$559$295$152$9
48 years$1,727$976$525$272$138$8
49 years$1,673$932$493$252$125$7
50 years$1,621$890$464$233$114$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $1,660,000, adding $4,942 every year, while hoping to spend $25,748 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: 41/36/23 Blend
62$1,660,000$1,660,000$1,660,000$1,660,000
63$1,834,418$1,746,438$1,720,708$1,897,030
64$1,994,133$1,804,617$1,750,956$2,000,536
65$2,169,275$1,864,785$1,781,354$2,109,674
66$2,361,393$1,927,011$1,811,881$2,227,292
67$2,572,188$1,991,367$1,842,512$2,354,180
68$2,803,537$2,057,930$1,873,222$2,491,208
69$3,057,507$2,126,778$1,903,984$2,639,334
70$3,336,374$2,197,991$1,934,768$2,799,610
71$3,642,646$2,271,655$1,965,545$2,973,194
72$3,979,085$2,347,855$1,996,280$3,161,358
73$4,348,735$2,426,684$2,026,939$3,365,505
74$4,754,949$2,508,234$2,057,485$3,587,174
75$5,201,420$2,592,604$2,087,876$3,828,063
76$5,692,217$2,679,893$2,118,072$4,090,039
77$6,231,823$2,770,208$2,148,028$4,375,155
78$6,825,178$2,863,657$2,177,696$4,685,673
79$7,477,723$2,960,353$2,207,025$5,024,083
80$8,195,453$3,060,413$2,235,963$5,393,125
81$8,984,974$3,163,958$2,264,452$5,795,817
82$9,853,564$3,271,114$2,292,434$6,235,480
83$10,809,242$3,382,014$2,319,846$6,715,772
84$11,860,844$3,496,792$2,346,620$7,240,720
85$13,018,105$3,615,589$2,372,686$7,814,760
86$14,291,751$3,738,552$2,397,970$8,442,776
87$15,693,601$3,865,833$2,422,394$9,130,146
88$17,236,680$3,997,590$2,445,875$9,882,796
89$18,935,335$4,133,986$2,468,326$10,707,250
90$20,805,380$4,275,192$2,489,656$11,610,695
91$22,864,236$4,421,384$2,509,767$12,601,046
92$25,131,102$4,572,745$2,528,558$13,687,022
93$27,627,132$4,729,467$2,545,922$14,878,228
94$30,375,636$4,891,747$2,561,746$16,185,245
95$33,402,299$5,059,791$2,575,913$17,619,726
96$36,735,424$5,233,812$2,588,297$19,194,511
97$40,406,200$5,414,031$2,598,768$20,923,745
98$44,448,994$5,600,680$2,607,188$22,823,009
99$48,901,676$5,793,998$2,613,413$24,909,470
100$53,805,976$5,994,233$2,617,291$27,202,041