Can I retire at age 63 with 1,050,000?

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 $1,050,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$86,708$85,936$85,182$84,447$83,728$82,105
2 years$42,925$42,125$41,351$40,599$39,871$38,242
3 years$28,332$27,529$26,757$26,012$25,296$23,712
4 years$21,037$20,237$19,472$18,740$18,041$16,515
5 years$16,662$15,866$15,111$14,394$13,715$12,250
6 years$13,745$12,956$12,212$11,511$10,852$9,451
7 years$11,663$10,880$10,148$9,464$8,825$7,488
8 years$10,102$9,326$8,606$7,939$7,322$6,048
9 years$8,889$8,120$7,413$6,762$6,166$4,954
10 years$7,919$7,158$6,463$5,829$5,254$4,104
11 years$7,125$6,372$5,690$5,073$4,518$3,428
12 years$6,465$5,719$5,049$4,450$3,915$2,884
13 years$5,906$5,168$4,511$3,929$3,414$2,440
14 years$5,428$4,698$4,053$3,487$2,993$2,073
15 years$5,014$4,292$3,660$3,110$2,635$1,769
16 years$4,652$3,938$3,318$2,785$2,329$1,513
17 years$4,333$3,626$3,019$2,502$2,065$1,299
18 years$4,049$3,351$2,756$2,255$1,836$1,117
19 years$3,796$3,106$2,523$2,037$1,637$962
20 years$3,569$2,886$2,316$1,845$1,462$830
21 years$3,363$2,688$2,130$1,675$1,308$718
22 years$3,176$2,509$1,963$1,523$1,173$621
23 years$3,006$2,347$1,813$1,387$1,053$538
24 years$2,850$2,199$1,676$1,265$946$466
25 years$2,707$2,063$1,553$1,155$851$405
26 years$2,575$1,939$1,440$1,056$767$351
27 years$2,453$1,825$1,337$967$691$305
28 years$2,340$1,720$1,243$886$624$265
29 years$2,235$1,622$1,157$812$563$230
30 years$2,137$1,532$1,077$745$509$200
31 years$2,046$1,448$1,004$685$460$174
32 years$1,961$1,371$937$629$416$152
33 years$1,880$1,298$875$579$377$132
34 years$1,805$1,230$818$532$341$115
35 years$1,734$1,167$764$490$309$100
36 years$1,668$1,107$715$451$280$87
37 years$1,605$1,052$669$416$254$76
38 years$1,545$1,000$627$383$230$66
39 years$1,489$951$587$353$209$58
40 years$1,436$904$550$326$189$50
41 years$1,385$861$516$301$172$44
42 years$1,337$820$484$278$156$38
43 years$1,291$781$454$256$141$33
44 years$1,248$745$426$237$128$29
45 years$1,206$710$400$218$116$25
46 years$1,167$677$376$202$106$22
47 years$1,129$646$353$186$96$19
48 years$1,093$617$332$172$87$17
49 years$1,058$589$312$159$79$15
50 years$1,025$563$293$147$72$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $1,050,000, adding $5,912 every year, while hoping to spend $46,591 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: 52/30/18 Blend
62$1,050,000$1,050,000$1,050,000$1,050,000
63$1,163,198$1,107,548$1,091,273$1,217,664
64$1,232,272$1,112,246$1,078,258$1,260,410
65$1,306,830$1,115,612$1,063,246$1,301,517
66$1,387,382$1,117,532$1,046,120$1,345,213
67$1,474,488$1,117,885$1,026,759$1,391,761
68$1,568,766$1,116,541$1,005,035$1,441,448
69$1,670,893$1,113,364$980,816$1,494,596
70$1,781,612$1,108,208$953,962$1,551,559
71$1,901,745$1,100,918$924,328$1,612,731
72$2,032,191$1,091,330$891,761$1,678,549
73$2,173,940$1,079,272$856,101$1,749,497
74$2,328,085$1,064,558$817,183$1,826,109
75$2,495,822$1,046,995$774,831$1,908,981
76$2,678,472$1,026,374$728,865$1,998,768
77$2,877,487$1,002,477$679,092$2,096,199
78$3,094,465$975,072$625,316$2,202,080
79$3,331,164$943,914$567,327$2,317,303
80$3,589,519$908,743$504,909$2,442,854
81$3,871,662$869,283$437,836$2,579,827
82$4,179,938$825,244$365,870$2,729,430
83$4,516,929$776,319$288,764$2,892,999
84$4,885,478$722,181$206,260$3,072,015
85$5,288,716$662,486$118,088$3,268,112
86$5,730,088$596,872$23,968$3,483,099
87$6,213,392$524,953$0$3,718,976
88$6,742,806$446,323$0$3,992,641
89$7,322,932$360,554$0$4,297,716
90$7,958,841$267,191$0$4,632,355
91$8,656,116$165,756$0$4,999,607
92$9,420,904$55,743$0$5,402,835
93$10,259,980$0$0$5,845,753
94$11,180,803$0$0$6,353,381
95$12,191,591$0$0$6,930,912
96$13,301,395$0$0$7,565,130
97$14,520,186$0$0$8,261,748
98$15,858,949$0$0$9,027,057
99$17,329,782$0$0$9,867,990
100$18,946,018$0$0$10,792,183