Can I retire at age 63 with 1,170,000?

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 $1,170,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.4%
1 years$96,618$95,757$94,917$94,098$93,297$90,492
2 years$47,830$46,940$46,076$45,239$44,427$41,625
3 years$31,570$30,676$29,814$28,985$28,187$25,474
4 years$23,442$22,550$21,697$20,882$20,103$17,502
5 years$18,566$17,679$16,838$16,040$15,282$12,799
6 years$15,316$14,436$13,608$12,827$12,092$9,730
7 years$12,996$12,124$11,308$10,546$9,834$7,593
8 years$11,257$10,392$9,590$8,847$8,158$6,036
9 years$9,905$9,048$8,260$7,535$6,870$4,865
10 years$8,824$7,976$7,201$6,496$5,854$3,962
11 years$7,940$7,100$6,340$5,653$5,035$3,254
12 years$7,204$6,373$5,626$4,958$4,363$2,689
13 years$6,581$5,759$5,027$4,378$3,805$2,234
14 years$6,048$5,235$4,517$3,886$3,335$1,864
15 years$5,587$4,782$4,078$3,466$2,936$1,560
16 years$5,184$4,388$3,697$3,103$2,595$1,310
17 years$4,828$4,041$3,364$2,788$2,301$1,102
18 years$4,512$3,734$3,071$2,513$2,046$929
19 years$4,230$3,461$2,812$2,270$1,824$784
20 years$3,976$3,216$2,580$2,056$1,629$663
21 years$3,747$2,995$2,373$1,866$1,458$561
22 years$3,539$2,796$2,187$1,697$1,307$476
23 years$3,350$2,615$2,020$1,545$1,173$403
24 years$3,176$2,450$1,868$1,409$1,054$342
25 years$3,016$2,299$1,730$1,287$949$291
26 years$2,869$2,161$1,605$1,177$855$247
27 years$2,734$2,034$1,490$1,077$770$210
28 years$2,608$1,916$1,385$987$695$178
29 years$2,491$1,808$1,289$905$628$152
30 years$2,382$1,707$1,201$831$567$129
31 years$2,280$1,614$1,119$763$513$110
32 years$2,185$1,527$1,044$701$464$93
33 years$2,095$1,446$975$645$420$79
34 years$2,011$1,371$911$593$380$68
35 years$1,933$1,300$852$546$344$58
36 years$1,858$1,234$797$503$312$49
37 years$1,788$1,172$746$463$283$42
38 years$1,722$1,114$698$427$256$36
39 years$1,659$1,059$654$394$232$30
40 years$1,600$1,008$613$363$211$26
41 years$1,543$959$575$335$191$22
42 years$1,490$914$539$309$174$19
43 years$1,439$870$506$286$157$16
44 years$1,390$830$475$264$143$14
45 years$1,344$791$446$243$130$12
46 years$1,300$755$419$225$118$10
47 years$1,258$720$394$208$107$8
48 years$1,218$688$370$192$97$7
49 years$1,179$657$348$177$88$6
50 years$1,142$627$327$164$80$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $1,170,000, adding $5,119 every year, while hoping to spend $29,044 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: 45/29/26 Blend
62$1,170,000$1,170,000$1,170,000$1,170,000
63$1,294,620$1,232,610$1,214,475$1,342,953
64$1,395,769$1,262,106$1,224,258$1,407,204
65$1,506,261$1,292,073$1,233,394$1,473,635
66$1,627,020$1,322,504$1,241,833$1,545,114
67$1,759,060$1,353,391$1,249,518$1,622,125
68$1,903,500$1,384,723$1,256,393$1,705,205
69$2,061,571$1,416,488$1,262,396$1,794,945
70$2,234,628$1,448,673$1,267,463$1,891,995
71$2,424,165$1,481,263$1,271,528$1,997,073
72$2,631,825$1,514,240$1,274,519$2,110,970
73$2,859,418$1,547,585$1,276,363$2,234,559
74$3,108,940$1,581,277$1,276,982$2,368,802
75$3,382,585$1,615,293$1,276,294$2,514,757
76$3,682,773$1,649,607$1,274,214$2,673,594
77$4,012,167$1,684,189$1,270,652$2,846,601
78$4,373,703$1,719,010$1,265,514$3,035,199
79$4,770,613$1,754,033$1,258,701$3,240,954
80$5,206,458$1,789,223$1,250,110$3,465,592
81$5,685,160$1,824,539$1,239,632$3,711,018
82$6,211,041$1,859,935$1,227,154$3,979,331
83$6,788,860$1,895,365$1,212,556$4,272,844
84$7,423,862$1,930,776$1,195,715$4,594,109
85$8,121,824$1,966,112$1,176,499$4,945,940
86$8,889,111$2,001,313$1,154,773$5,331,436
87$9,732,735$2,036,312$1,130,393$5,754,018
88$10,660,423$2,071,040$1,103,210$6,217,455
89$11,680,685$2,105,420$1,073,067$6,725,904
90$12,802,901$2,139,372$1,039,801$7,283,945
91$14,037,403$2,172,807$1,003,240$7,896,631
92$15,395,574$2,205,631$963,205$8,569,531
93$16,889,960$2,237,744$919,509$9,308,784
94$18,534,380$2,269,037$871,957$10,121,159
95$20,344,062$2,299,396$820,343$11,014,116
96$22,335,787$2,328,696$764,455$11,995,883
97$24,528,041$2,356,806$704,068$13,075,528
98$26,941,196$2,383,584$638,949$14,263,046
99$29,597,698$2,408,881$568,854$15,569,458
100$32,522,282$2,432,534$493,529$17,006,912