Can I retire at age 63 with 1,180,000?

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 $1,180,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$97,443$96,575$95,728$94,902$94,095$93,035
2 years$48,239$47,341$46,470$45,626$44,807$43,740
3 years$31,840$30,938$30,069$29,233$28,427$27,386
4 years$23,642$22,743$21,883$21,061$20,275$19,268
5 years$18,725$17,830$16,982$16,177$15,413$14,442
6 years$15,447$14,560$13,724$12,937$12,195$11,263
7 years$13,107$12,227$11,405$10,636$9,918$9,025
8 years$11,353$10,481$9,672$8,922$8,228$7,373
9 years$9,989$9,126$8,331$7,600$6,929$6,112
10 years$8,899$8,044$7,263$6,551$5,904$5,125
11 years$8,008$7,161$6,394$5,701$5,078$4,335
12 years$7,265$6,427$5,675$5,001$4,400$3,694
13 years$6,638$5,808$5,070$4,415$3,837$3,166
14 years$6,100$5,280$4,555$3,919$3,364$2,727
15 years$5,635$4,823$4,113$3,495$2,962$2,358
16 years$5,228$4,425$3,729$3,130$2,617$2,047
17 years$4,869$4,075$3,393$2,812$2,321$1,781
18 years$4,551$3,766$3,097$2,534$2,064$1,554
19 years$4,266$3,490$2,836$2,290$1,839$1,359
20 years$4,010$3,243$2,602$2,074$1,643$1,190
21 years$3,779$3,021$2,394$1,882$1,470$1,044
22 years$3,569$2,820$2,206$1,711$1,318$917
23 years$3,378$2,637$2,037$1,558$1,183$807
24 years$3,203$2,471$1,884$1,421$1,063$711
25 years$3,042$2,319$1,745$1,298$957$626
26 years$2,894$2,179$1,618$1,187$862$552
27 years$2,757$2,051$1,503$1,086$777$488
28 years$2,630$1,933$1,397$995$701$431
29 years$2,512$1,823$1,300$913$633$381
30 years$2,402$1,722$1,211$838$572$336
31 years$2,299$1,628$1,129$769$517$298
32 years$2,203$1,540$1,053$707$468$263
33 years$2,113$1,459$983$650$423$233
34 years$2,029$1,382$919$598$383$206
35 years$1,949$1,311$859$551$347$183
36 years$1,874$1,245$804$507$315$162
37 years$1,803$1,182$752$467$285$143
38 years$1,736$1,123$704$431$258$127
39 years$1,673$1,068$660$397$234$113
40 years$1,613$1,016$619$366$213$100
41 years$1,556$967$580$338$193$88
42 years$1,502$921$544$312$175$78
43 years$1,451$878$511$288$159$70
44 years$1,402$837$479$266$144$62
45 years$1,355$798$450$246$131$55
46 years$1,311$761$423$227$119$48
47 years$1,269$726$397$210$108$43
48 years$1,228$693$373$194$98$38
49 years$1,189$662$351$179$89$34
50 years$1,152$633$330$165$81$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $1,180,000, adding $2,012 every year, while hoping to spend $47,074 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: 66/7/27 Blend
62$1,180,000$1,180,000$1,180,000$1,180,000
63$1,302,435$1,239,895$1,221,605$1,379,050
64$1,385,197$1,250,564$1,212,443$1,441,633
65$1,474,823$1,260,177$1,201,396$1,504,569
66$1,571,964$1,268,635$1,188,351$1,572,332
67$1,677,334$1,275,828$1,173,190$1,645,402
68$1,791,720$1,281,641$1,155,790$1,724,307
69$1,915,988$1,285,954$1,136,022$1,809,632
70$2,051,089$1,288,635$1,113,748$1,902,022
71$2,198,069$1,289,548$1,088,828$2,002,189
72$2,358,081$1,288,545$1,061,113$2,110,918
73$2,532,392$1,285,471$1,030,447$2,229,076
74$2,722,398$1,280,160$996,669$2,357,622
75$2,929,632$1,272,438$959,607$2,497,610
76$3,155,786$1,262,118$919,085$2,650,208
77$3,402,718$1,249,004$874,916$2,816,701
78$3,672,475$1,232,885$826,906$2,998,509
79$3,967,313$1,213,542$774,852$3,197,199
80$4,289,711$1,190,738$718,542$3,414,499
81$4,642,403$1,164,225$657,755$3,652,316
82$5,028,397$1,133,741$592,258$3,912,755
83$5,451,004$1,099,005$521,809$4,198,137
84$5,913,873$1,059,723$446,157$4,511,023
85$6,421,022$1,015,583$365,036$4,854,239
86$6,976,873$966,253$278,172$5,230,901
87$7,586,300$911,385$185,277$5,644,447
88$8,254,668$850,609$86,049$6,098,670
89$8,987,889$783,534$0$6,597,753
90$9,792,472$709,746$0$7,152,026
91$10,675,590$628,808$0$7,787,687
92$11,645,140$540,260$0$8,485,632
93$12,709,825$443,613$0$9,252,153
94$13,879,229$338,353$0$10,094,182
95$15,163,912$223,934$0$11,019,359
96$16,575,506$99,781$0$12,036,101
97$18,126,827$0$0$13,153,683
98$19,831,991$0$0$14,385,000
99$21,706,554$0$0$15,747,172
100$23,767,651$0$0$17,244,975