Can I retire at age 63 with 1,340,000?

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 $1,340,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14%
1 years$110,656$109,670$108,709$107,770$106,853$105,083
2 years$54,780$53,760$52,771$51,813$50,883$49,104
3 years$36,157$35,133$34,146$33,197$32,282$30,551
4 years$26,848$25,826$24,850$23,916$23,024$21,353
5 years$21,263$20,248$19,285$18,370$17,502$15,897
6 years$17,542$16,534$15,585$14,691$13,849$12,311
7 years$14,885$13,885$12,951$12,078$11,263$9,793
8 years$12,893$11,902$10,983$10,132$9,344$7,941
9 years$11,344$10,363$9,460$8,630$7,869$6,533
10 years$10,106$9,135$8,248$7,439$6,705$5,434
11 years$9,093$8,132$7,261$6,474$5,766$4,560
12 years$8,250$7,299$6,444$5,679$4,997$3,853
13 years$7,538$6,596$5,757$5,014$4,357$3,275
14 years$6,927$5,996$5,173$4,451$3,820$2,796
15 years$6,399$5,477$4,670$3,969$3,363$2,397
16 years$5,937$5,025$4,234$3,554$2,972$2,061
17 years$5,529$4,628$3,853$3,193$2,635$1,778
18 years$5,168$4,276$3,517$2,878$2,343$1,536
19 years$4,845$3,963$3,220$2,600$2,089$1,331
20 years$4,554$3,683$2,955$2,355$1,866$1,154
21 years$4,292$3,430$2,718$2,137$1,670$1,003
22 years$4,053$3,202$2,505$1,943$1,496$873
23 years$3,836$2,995$2,313$1,770$1,343$760
24 years$3,637$2,806$2,139$1,614$1,207$662
25 years$3,455$2,633$1,981$1,474$1,086$578
26 years$3,286$2,475$1,838$1,348$979$504
27 years$3,131$2,329$1,706$1,234$882$441
28 years$2,987$2,195$1,586$1,130$796$385
29 years$2,853$2,071$1,476$1,037$719$337
30 years$2,728$1,955$1,375$951$650$295
31 years$2,611$1,849$1,282$874$587$258
32 years$2,502$1,749$1,196$803$531$226
33 years$2,400$1,656$1,117$738$481$198
34 years$2,304$1,570$1,043$679$435$173
35 years$2,213$1,489$976$625$394$152
36 years$2,128$1,413$913$576$357$133
37 years$2,048$1,342$854$531$324$116
38 years$1,972$1,276$800$489$294$102
39 years$1,900$1,213$749$451$266$89
40 years$1,832$1,154$702$416$241$78
41 years$1,767$1,099$659$384$219$69
42 years$1,706$1,046$618$354$199$60
43 years$1,648$997$580$327$180$53
44 years$1,592$950$544$302$164$46
45 years$1,539$906$511$279$149$41
46 years$1,489$864$480$258$135$36
47 years$1,441$825$451$238$123$31
48 years$1,394$788$424$220$111$27
49 years$1,350$752$398$203$101$24
50 years$1,308$718$374$188$92$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $1,340,000, adding $4,796 every year, while hoping to spend $22,290 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: 72/20/8 Blend
62$1,340,000$1,340,000$1,340,000$1,340,000
63$1,481,627$1,410,607$1,389,837$1,586,014
64$1,609,037$1,456,010$1,412,680$1,700,983
65$1,748,695$1,502,891$1,435,542$1,823,584
66$1,901,828$1,551,299$1,458,398$1,957,197
67$2,069,785$1,601,284$1,481,226$2,102,904
68$2,254,055$1,652,898$1,503,998$2,261,892
69$2,456,274$1,706,195$1,526,687$2,435,471
70$2,678,246$1,761,232$1,549,264$2,625,082
71$2,921,961$1,818,066$1,571,698$2,832,310
72$3,189,606$1,876,756$1,593,955$3,058,904
73$3,483,593$1,937,364$1,616,000$3,306,786
74$3,806,580$1,999,955$1,637,796$3,578,075
75$4,161,492$2,064,594$1,659,303$3,875,103
76$4,551,554$2,131,350$1,680,480$4,200,441
77$4,980,320$2,200,292$1,701,283$4,556,918
78$5,451,701$2,271,495$1,721,664$4,947,650
79$5,970,009$2,345,034$1,741,575$5,376,070
80$6,539,996$2,420,986$1,760,963$5,845,961
81$7,166,894$2,499,433$1,779,774$6,361,485
82$7,856,470$2,580,458$1,797,950$6,927,233
83$8,615,077$2,664,147$1,815,428$7,548,258
84$9,449,716$2,750,591$1,832,145$8,230,127
85$10,368,098$2,839,882$1,848,034$8,978,975
86$11,378,723$2,932,114$1,863,021$9,801,557
87$12,490,953$3,027,388$1,877,033$10,705,319
88$13,715,106$3,125,806$1,889,990$11,698,462
89$15,062,550$3,227,474$1,901,808$12,790,020
90$16,545,811$3,332,502$1,912,399$13,989,949
91$18,178,692$3,441,002$1,921,673$15,309,215
92$19,976,401$3,553,093$1,929,531$16,759,904
93$21,955,695$3,668,896$1,935,872$18,355,328
94$24,135,041$3,788,538$1,940,588$20,110,157
95$26,534,786$3,912,147$1,943,569$22,040,553
96$29,177,352$4,039,859$1,944,696$24,164,325
97$32,087,443$4,171,814$1,943,845$26,501,095
98$35,292,285$4,308,155$1,940,886$29,072,483
99$38,821,876$4,449,033$1,935,684$31,902,313
100$42,709,274$4,594,602$1,928,096$35,016,833