Can I retire at age 63 with 1,740,000?

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 $1,740,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$143,688$142,408$141,159$139,940$138,750$136,339
2 years$71,132$69,808$68,524$67,279$66,071$63,650
3 years$46,951$45,620$44,339$43,106$41,918$39,563
4 years$34,862$33,536$32,268$31,056$29,897$27,624
5 years$27,611$26,292$25,041$23,854$22,727$20,544
6 years$22,778$21,470$20,237$19,076$17,983$15,893
7 years$19,328$18,030$16,817$15,683$14,625$12,628
8 years$16,741$15,455$14,262$13,156$12,133$10,228
9 years$14,730$13,457$12,284$11,206$10,218$8,404
10 years$13,122$11,861$10,709$9,660$8,706$6,982
11 years$11,808$10,559$9,428$8,407$7,487$5,852
12 years$10,713$9,478$8,367$7,374$6,488$4,938
13 years$9,788$8,565$7,476$6,510$5,658$4,191
14 years$8,995$7,785$6,717$5,779$4,960$3,574
15 years$8,309$7,112$6,065$5,154$4,367$3,059
16 years$7,709$6,525$5,498$4,615$3,860$2,627
17 years$7,180$6,009$5,003$4,146$3,422$2,262
18 years$6,711$5,553$4,567$3,737$3,043$1,953
19 years$6,291$5,146$4,181$3,376$2,712$1,689
20 years$5,914$4,782$3,837$3,058$2,423$1,463
21 years$5,573$4,455$3,530$2,775$2,168$1,269
22 years$5,263$4,158$3,253$2,523$1,943$1,102
23 years$4,981$3,889$3,004$2,298$1,744$958
24 years$4,723$3,644$2,778$2,096$1,568$834
25 years$4,486$3,419$2,573$1,914$1,411$727
26 years$4,267$3,214$2,386$1,750$1,271$633
27 years$4,065$3,025$2,216$1,602$1,146$552
28 years$3,878$2,850$2,060$1,468$1,034$482
29 years$3,704$2,689$1,917$1,346$934$421
30 years$3,542$2,539$1,786$1,235$843$367
31 years$3,391$2,400$1,665$1,135$763$321
32 years$3,249$2,271$1,553$1,043$690$280
33 years$3,116$2,151$1,450$959$624$245
34 years$2,991$2,039$1,355$882$565$214
35 years$2,874$1,934$1,267$812$512$187
36 years$2,764$1,835$1,185$748$464$164
37 years$2,659$1,743$1,109$689$420$143
38 years$2,561$1,656$1,039$635$381$125
39 years$2,467$1,575$973$586$346$110
40 years$2,379$1,499$912$540$313$96
41 years$2,295$1,427$855$498$284$84
42 years$2,215$1,359$802$460$258$74
43 years$2,139$1,294$753$425$234$64
44 years$2,067$1,234$707$392$213$56
45 years$1,999$1,177$664$362$193$49
46 years$1,933$1,122$623$334$175$43
47 years$1,871$1,071$585$309$159$38
48 years$1,811$1,023$550$286$145$33
49 years$1,754$977$517$264$131$29
50 years$1,699$933$486$244$119$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $1,740,000, adding $2,846 every year, while hoping to spend $58,110 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: 75/16/9 Blend
62$1,740,000$1,740,000$1,740,000$1,740,000
63$1,920,416$1,828,196$1,801,226$2,061,352
64$2,054,469$1,855,949$1,799,738$2,182,325
65$2,200,249$1,883,114$1,796,253$2,307,217
66$2,358,889$1,909,601$1,790,642$2,442,433
67$2,531,639$1,935,314$1,782,772$2,588,975
68$2,719,871$1,960,150$1,772,500$2,747,948
69$2,925,098$1,983,998$1,759,679$2,920,571
70$3,148,984$2,006,740$1,744,154$3,108,185
71$3,393,361$2,028,250$1,725,763$3,312,266
72$3,660,244$2,048,394$1,704,336$3,534,445
73$3,951,853$2,067,030$1,679,696$3,776,513
74$4,270,631$2,084,004$1,651,655$4,040,449
75$4,619,269$2,099,154$1,620,019$4,328,431
76$5,000,729$2,112,306$1,584,584$4,642,858
77$5,418,272$2,123,278$1,545,136$4,986,377
78$5,875,489$2,131,872$1,501,452$5,361,901
79$6,376,337$2,137,881$1,453,298$5,772,643
80$6,925,169$2,141,084$1,400,430$6,222,144
81$7,526,783$2,141,244$1,342,591$6,714,304
82$8,186,462$2,138,112$1,279,515$7,253,425
83$8,910,025$2,131,423$1,210,923$7,844,244
84$9,703,881$2,120,896$1,136,521$8,491,985
85$10,575,088$2,106,231$1,056,006$9,202,404
86$11,531,423$2,087,112$969,058$9,981,844
87$12,581,450$2,063,203$875,344$10,837,299
88$13,734,606$2,034,148$774,516$11,776,474
89$15,001,284$1,999,570$666,211$12,807,864
90$16,392,934$1,959,068$550,048$13,940,830
91$17,922,171$1,912,219$425,632$15,185,689
92$19,602,890$1,858,575$292,548$16,553,814
93$21,450,401$1,797,662$150,364$18,057,738
94$23,481,570$1,728,976$0$19,711,277
95$25,714,981$1,651,986$0$21,529,786
96$28,171,106$1,566,130$0$23,545,334
97$30,872,501$1,470,813$0$25,762,009
98$33,844,019$1,365,406$0$28,200,247
99$37,113,040$1,249,242$0$30,882,565
100$40,709,736$1,121,621$0$33,833,781