Can I retire at age 63 with 1,040,000?

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 $1,040,000?

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$85,882$85,117$84,371$83,642$82,931$81,963
2 years$42,516$41,724$40,957$40,213$39,491$38,516
3 years$28,062$27,267$26,502$25,765$25,055$24,104
4 years$20,837$20,044$19,286$18,562$17,869$16,950
5 years$16,503$15,715$14,967$14,257$13,584$12,698
6 years$13,615$12,832$12,096$11,402$10,748$9,898
7 years$11,552$10,777$10,052$9,374$8,741$7,926
8 years$10,006$9,238$8,524$7,864$7,252$6,472
9 years$8,804$8,043$7,342$6,698$6,107$5,362
10 years$7,843$7,089$6,401$5,774$5,204$4,493
11 years$7,058$6,311$5,635$5,025$4,475$3,799
12 years$6,403$5,665$5,001$4,408$3,878$3,235
13 years$5,850$5,119$4,468$3,891$3,382$2,771
14 years$5,376$4,653$4,015$3,454$2,964$2,385
15 years$4,966$4,251$3,625$3,081$2,610$2,061
16 years$4,608$3,900$3,286$2,758$2,307$1,787
17 years$4,292$3,592$2,991$2,478$2,045$1,554
18 years$4,011$3,319$2,730$2,233$1,819$1,355
19 years$3,760$3,076$2,499$2,018$1,621$1,184
20 years$3,535$2,858$2,294$1,828$1,448$1,036
21 years$3,331$2,662$2,110$1,659$1,296$909
22 years$3,146$2,485$1,944$1,508$1,161$798
23 years$2,977$2,324$1,795$1,374$1,043$701
24 years$2,823$2,178$1,660$1,253$937$617
25 years$2,681$2,044$1,538$1,144$843$543
26 years$2,551$1,921$1,426$1,046$760$479
27 years$2,430$1,808$1,324$958$685$422
28 years$2,318$1,703$1,231$877$618$373
29 years$2,214$1,607$1,146$805$558$329
30 years$2,117$1,518$1,067$738$504$291
31 years$2,027$1,435$995$678$456$257
32 years$1,942$1,357$928$623$412$227
33 years$1,862$1,286$867$573$373$201
34 years$1,788$1,218$810$527$338$178
35 years$1,718$1,156$757$485$306$157
36 years$1,652$1,097$708$447$277$139
37 years$1,589$1,042$663$412$251$123
38 years$1,530$990$621$380$228$109
39 years$1,475$941$582$350$207$97
40 years$1,422$896$545$323$187$86
41 years$1,372$853$511$298$170$76
42 years$1,324$812$480$275$154$67
43 years$1,279$774$450$254$140$59
44 years$1,236$738$422$234$127$53
45 years$1,195$703$397$216$115$47
46 years$1,155$671$372$200$105$41
47 years$1,118$640$350$185$95$37
48 years$1,082$611$329$171$86$32
49 years$1,048$584$309$158$78$29
50 years$1,015$558$291$146$71$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $1,040,000, adding $4,534 every year, while hoping to spend $31,967 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: 58/36/6 Blend
62$1,040,000$1,040,000$1,040,000$1,040,000
63$1,150,757$1,095,637$1,079,517$1,215,846
64$1,234,121$1,115,310$1,081,668$1,279,742
65$1,324,918$1,134,877$1,082,820$1,345,320
66$1,423,870$1,154,296$1,082,905$1,415,992
67$1,531,776$1,173,528$1,081,853$1,492,248
68$1,649,512$1,192,526$1,079,590$1,574,627
69$1,778,044$1,211,241$1,076,039$1,663,723
70$1,918,436$1,229,623$1,071,117$1,760,191
71$2,071,856$1,247,615$1,064,740$1,864,752
72$2,239,595$1,265,158$1,056,818$1,978,202
73$2,423,070$1,282,186$1,047,257$2,101,418
74$2,623,843$1,298,633$1,035,960$2,235,366
75$2,843,634$1,314,425$1,022,824$2,381,112
76$3,084,336$1,329,484$1,007,740$2,539,830
77$3,348,036$1,343,726$990,597$2,712,814
78$3,637,029$1,357,062$971,276$2,901,492
79$3,953,846$1,369,398$949,654$3,107,436
80$4,301,273$1,380,633$925,601$3,332,383
81$4,682,377$1,390,658$898,983$3,578,243
82$5,100,538$1,399,359$869,658$3,847,126
83$5,559,479$1,406,614$837,478$4,141,355
84$6,063,301$1,412,294$802,288$4,463,493
85$6,616,521$1,416,259$763,928$4,816,364
86$7,224,114$1,418,364$722,227$5,203,084
87$7,891,562$1,418,452$677,010$5,627,087
88$8,624,903$1,416,358$628,092$6,092,157
89$9,430,790$1,411,906$575,280$6,602,469
90$10,316,551$1,404,909$518,372$7,162,624
91$11,290,259$1,395,170$457,158$7,777,695
92$12,360,811$1,382,479$391,417$8,453,275
93$13,538,006$1,366,612$320,922$9,195,529
94$14,832,641$1,347,335$245,431$10,011,254
95$16,256,612$1,324,396$164,695$10,907,944
96$17,823,025$1,297,531$78,451$11,893,861
97$19,546,323$1,266,459$0$12,978,111
98$21,442,416$1,230,883$0$14,171,605
99$23,528,834$1,190,488$0$15,489,957
100$25,824,895$1,144,942$0$16,940,361