Can I retire at age 63 with 1,420,000?

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 $1,420,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.2%
1 years$117,262$116,218$115,199$114,204$113,233$110,811
2 years$58,051$56,969$55,922$54,906$53,920$51,492
3 years$38,316$37,230$36,185$35,179$34,209$31,850
4 years$28,451$27,368$26,333$25,344$24,398$22,127
5 years$22,533$21,457$20,436$19,467$18,547$16,370
6 years$18,589$17,521$16,515$15,568$14,676$12,595
7 years$15,773$14,714$13,724$12,799$11,935$9,951
8 years$13,662$12,613$11,639$10,737$9,902$8,014
9 years$12,021$10,982$10,025$9,145$8,339$6,545
10 years$10,709$9,680$8,740$7,883$7,105$5,405
11 years$9,636$8,617$7,694$6,861$6,110$4,501
12 years$8,743$7,735$6,829$6,018$5,295$3,774
13 years$7,988$6,990$6,101$5,313$4,617$3,182
14 years$7,341$6,354$5,482$4,716$4,048$2,695
15 years$6,781$5,804$4,949$4,206$3,564$2,291
16 years$6,291$5,325$4,487$3,766$3,150$1,954
17 years$5,860$4,904$4,083$3,384$2,793$1,670
18 years$5,476$4,532$3,727$3,049$2,483$1,431
19 years$5,134$4,200$3,412$2,755$2,213$1,229
20 years$4,826$3,903$3,132$2,496$1,977$1,056
21 years$4,548$3,635$2,880$2,265$1,769$909
22 years$4,295$3,393$2,655$2,059$1,586$784
23 years$4,065$3,174$2,451$1,875$1,424$676
24 years$3,855$2,974$2,267$1,711$1,280$584
25 years$3,661$2,791$2,100$1,562$1,151$505
26 years$3,483$2,623$1,947$1,428$1,037$436
27 years$3,318$2,468$1,808$1,307$935$377
28 years$3,165$2,326$1,681$1,198$844$327
29 years$3,023$2,194$1,564$1,098$762$283
30 years$2,891$2,072$1,457$1,008$688$245
31 years$2,767$1,959$1,358$926$622$212
32 years$2,651$1,854$1,267$851$563$184
33 years$2,543$1,755$1,183$782$509$159
34 years$2,441$1,664$1,106$720$461$138
35 years$2,346$1,578$1,034$663$418$120
36 years$2,255$1,498$967$610$379$104
37 years$2,170$1,422$905$562$343$90
38 years$2,090$1,352$848$518$311$78
39 years$2,014$1,285$794$478$282$68
40 years$1,941$1,223$744$441$256$59
41 years$1,873$1,164$698$407$232$51
42 years$1,808$1,109$655$375$211$44
43 years$1,746$1,056$614$347$191$38
44 years$1,687$1,007$577$320$173$33
45 years$1,631$960$541$295$158$29
46 years$1,578$916$509$273$143$25
47 years$1,527$874$478$252$130$22
48 years$1,478$835$449$233$118$19
49 years$1,431$797$422$215$107$16
50 years$1,386$761$397$199$97$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $1,420,000, adding $4,430 every year, while hoping to spend $28,545 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: 54/41/5 Blend
62$1,420,000$1,420,000$1,420,000$1,420,000
63$1,569,410$1,494,150$1,472,140$1,652,265
64$1,699,118$1,536,991$1,491,085$1,751,541
65$1,841,099$1,580,975$1,509,708$1,855,985
66$1,996,576$1,626,128$1,527,968$1,968,945
67$2,166,894$1,672,475$1,545,821$2,091,232
68$2,353,534$1,720,043$1,563,223$2,223,736
69$2,558,128$1,768,859$1,580,125$2,367,438
70$2,782,474$1,818,950$1,596,476$2,523,416
71$3,028,550$1,870,343$1,612,222$2,692,857
72$3,298,538$1,923,065$1,627,307$2,877,067
73$3,594,838$1,977,145$1,641,671$3,077,485
74$3,920,097$2,032,609$1,655,252$3,295,694
75$4,277,227$2,089,487$1,667,983$3,533,435
76$4,669,438$2,147,807$1,679,795$3,792,629
77$5,100,267$2,207,596$1,690,614$4,075,387
78$5,573,609$2,268,882$1,700,364$4,384,036
79$6,093,755$2,331,695$1,708,964$4,721,138
80$6,665,432$2,396,063$1,716,329$5,089,513
81$7,293,849$2,462,013$1,722,369$5,492,268
82$7,984,744$2,529,573$1,726,990$5,932,826
83$8,744,438$2,598,772$1,730,094$6,414,956
84$9,579,896$2,669,638$1,731,578$6,942,808
85$10,498,791$2,742,196$1,731,332$7,520,955
86$11,509,580$2,816,475$1,729,243$8,154,435
87$12,621,575$2,892,501$1,725,192$8,848,795
88$13,845,042$2,970,300$1,719,052$9,610,149
89$15,191,289$3,049,897$1,710,692$10,445,230
90$16,672,776$3,131,317$1,699,976$11,361,457
91$18,303,231$3,214,584$1,686,757$12,367,002
92$20,097,782$3,299,721$1,670,885$13,470,870
93$22,073,098$3,386,749$1,652,202$14,682,981
94$24,247,545$3,475,690$1,630,541$16,014,264
95$26,641,359$3,566,563$1,605,729$17,476,763
96$29,276,839$3,659,387$1,577,583$19,083,745
97$32,178,558$3,754,178$1,545,913$20,849,831
98$35,373,590$3,850,952$1,510,520$22,791,127
99$38,891,769$3,949,721$1,471,195$24,925,384
100$42,765,969$4,050,498$1,427,720$27,272,157