Can I retire at age 63 with 1,070,000?

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 $1,070,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$88,360$87,573$86,805$86,055$85,323$82,493
2 years$43,742$42,928$42,138$41,373$40,630$37,806
3 years$28,872$28,054$27,266$26,508$25,777$23,048
4 years$21,438$20,622$19,843$19,097$18,385$15,771
5 years$16,979$16,168$15,399$14,669$13,976$11,485
6 years$14,007$13,203$12,445$11,731$11,059$8,693
7 years$11,885$11,088$10,341$9,644$8,994$6,752
8 years$10,295$9,504$8,770$8,090$7,461$5,343
9 years$9,058$8,275$7,554$6,891$6,283$4,285
10 years$8,070$7,294$6,586$5,940$5,354$3,473
11 years$7,261$6,493$5,798$5,170$4,604$2,837
12 years$6,588$5,828$5,146$4,535$3,990$2,332
13 years$6,019$5,267$4,597$4,003$3,479$1,927
14 years$5,531$4,788$4,131$3,554$3,050$1,599
15 years$5,109$4,373$3,729$3,169$2,685$1,331
16 years$4,741$4,013$3,381$2,838$2,373$1,111
17 years$4,415$3,695$3,077$2,550$2,104$929
18 years$4,127$3,415$2,809$2,298$1,871$779
19 years$3,869$3,165$2,571$2,076$1,668$654
20 years$3,637$2,941$2,360$1,880$1,490$549
21 years$3,427$2,739$2,171$1,707$1,333$462
22 years$3,237$2,557$2,000$1,552$1,195$389
23 years$3,063$2,392$1,847$1,413$1,073$328
24 years$2,904$2,241$1,708$1,289$964$276
25 years$2,759$2,103$1,582$1,177$868$233
26 years$2,624$1,976$1,467$1,076$781$197
27 years$2,500$1,860$1,363$985$705$166
28 years$2,385$1,753$1,267$903$636$140
29 years$2,278$1,653$1,179$828$574$119
30 years$2,178$1,561$1,098$760$519$100
31 years$2,085$1,476$1,024$698$469$85
32 years$1,998$1,397$955$641$424$72
33 years$1,916$1,323$892$590$384$61
34 years$1,840$1,254$833$543$348$51
35 years$1,767$1,189$779$499$315$43
36 years$1,699$1,129$729$460$285$37
37 years$1,635$1,072$682$424$259$31
38 years$1,575$1,019$639$391$234$26
39 years$1,517$969$598$360$213$22
40 years$1,463$922$561$332$193$19
41 years$1,411$877$526$306$175$16
42 years$1,362$835$493$283$159$13
43 years$1,316$796$463$261$144$11
44 years$1,271$759$435$241$131$10
45 years$1,229$724$408$223$119$8
46 years$1,189$690$383$206$108$7
47 years$1,150$659$360$190$98$6
48 years$1,113$629$338$176$89$5
49 years$1,078$600$318$162$81$4
50 years$1,045$574$299$150$73$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $1,070,000, adding $4,396 every year, while hoping to spend $32,145 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: 75/6/19 Blend
62$1,070,000$1,070,000$1,070,000$1,070,000
63$1,183,674$1,126,964$1,110,379$1,266,889
64$1,270,207$1,147,984$1,113,375$1,343,643
65$1,364,489$1,168,956$1,115,394$1,423,376
66$1,467,276$1,189,844$1,116,369$1,509,931
67$1,579,401$1,210,609$1,116,230$1,603,980
68$1,701,781$1,231,209$1,114,904$1,706,265
69$1,835,423$1,251,600$1,112,315$1,817,600
70$1,981,439$1,271,731$1,108,380$1,938,884
71$2,141,051$1,291,551$1,103,016$2,071,109
72$2,315,605$1,311,003$1,096,134$2,215,366
73$2,506,583$1,330,028$1,087,640$2,372,857
74$2,715,616$1,348,561$1,077,437$2,544,908
75$2,944,501$1,366,533$1,065,424$2,732,979
76$3,195,217$1,383,870$1,051,493$2,938,682
77$3,469,943$1,400,494$1,035,531$3,163,789
78$3,771,079$1,416,319$1,017,423$3,410,256
79$4,101,267$1,431,258$997,045$3,680,239
80$4,463,419$1,445,212$974,269$3,976,110
81$4,860,741$1,458,081$948,961$4,300,489
82$5,296,765$1,469,755$920,979$4,656,259
83$5,775,380$1,480,118$890,177$5,046,600
84$6,300,872$1,489,047$856,401$5,475,015
85$6,877,961$1,496,410$819,490$5,945,366
86$7,511,846$1,502,067$779,276$6,461,909
87$8,208,256$1,505,870$735,583$7,029,335
88$8,973,501$1,507,661$688,229$7,652,813
89$9,814,534$1,507,271$637,020$8,338,040
90$10,739,012$1,504,524$581,756$9,091,298
91$11,755,374$1,499,228$522,227$9,919,505
92$12,872,916$1,491,184$458,216$10,830,291
93$14,101,880$1,480,179$389,492$11,832,063
94$15,453,550$1,465,985$315,819$12,934,085
95$16,940,358$1,448,365$236,945$14,146,569
96$18,576,003$1,427,063$152,611$15,480,771
97$20,375,578$1,401,812$62,545$16,949,093
98$22,355,710$1,372,324$0$18,565,208
99$24,534,724$1,338,299$0$20,350,986
100$26,932,808$1,299,418$0$22,330,202