Can I retire at age 63 with 1,550,000?

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 $1,550,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$127,998$126,857$125,745$124,659$123,599$122,975
2 years$63,365$62,185$61,041$59,932$58,857$58,227
3 years$41,824$40,639$39,498$38,399$37,341$36,725
4 years$31,055$29,874$28,744$27,664$26,632$26,034
5 years$24,596$23,421$22,307$21,249$20,245$19,668
6 years$20,291$19,125$18,027$16,993$16,019$15,463
7 years$17,217$16,061$14,981$13,971$13,028$12,493
8 years$14,913$13,768$12,705$11,720$10,808$10,294
9 years$13,122$11,987$10,943$9,983$9,102$8,609
10 years$11,690$10,566$9,540$8,605$7,755$7,284
11 years$10,519$9,406$8,399$7,489$6,670$6,219
12 years$9,543$8,443$7,454$6,569$5,780$5,349
13 years$8,719$7,630$6,659$5,799$5,040$4,629
14 years$8,013$6,935$5,984$5,148$4,418$4,027
15 years$7,402$6,335$5,402$4,591$3,890$3,518
16 years$6,867$5,813$4,898$4,111$3,438$3,084
17 years$6,396$5,353$4,457$3,694$3,048$2,712
18 years$5,978$4,947$4,069$3,329$2,711$2,392
19 years$5,604$4,584$3,725$3,008$2,416$2,114
20 years$5,268$4,260$3,418$2,724$2,158$1,872
21 years$4,964$3,968$3,144$2,472$1,931$1,661
22 years$4,689$3,704$2,898$2,248$1,731$1,475
23 years$4,437$3,464$2,676$2,047$1,554$1,313
24 years$4,207$3,246$2,475$1,867$1,397$1,169
25 years$3,996$3,046$2,292$1,705$1,257$1,043
26 years$3,801$2,863$2,126$1,559$1,132$930
27 years$3,621$2,694$1,974$1,427$1,021$831
28 years$3,455$2,539$1,835$1,308$921$743
29 years$3,300$2,395$1,708$1,199$832$664
30 years$3,155$2,262$1,591$1,100$751$595
31 years$3,020$2,138$1,483$1,011$679$532
32 years$2,894$2,023$1,383$929$615$477
33 years$2,776$1,916$1,292$854$556$427
34 years$2,665$1,816$1,207$786$504$383
35 years$2,560$1,722$1,128$723$456$344
36 years$2,462$1,635$1,056$666$413$308
37 years$2,369$1,553$988$614$374$277
38 years$2,281$1,476$925$566$340$248
39 years$2,198$1,403$867$522$308$223
40 years$2,119$1,335$813$481$279$200
41 years$2,044$1,271$762$444$253$180
42 years$1,973$1,210$715$410$230$161
43 years$1,906$1,153$671$378$209$145
44 years$1,842$1,099$629$349$189$130
45 years$1,780$1,048$591$323$172$117
46 years$1,722$1,000$555$298$156$105
47 years$1,666$954$522$275$142$94
48 years$1,613$911$490$254$129$85
49 years$1,562$870$461$235$117$76
50 years$1,513$831$433$217$106$69

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $1,550,000, adding $6,938 every year, while hoping to spend $48,019 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: 80/8/12 Blend
62$1,550,000$1,550,000$1,550,000$1,550,000
63$1,715,257$1,633,107$1,609,082$1,848,138
64$1,839,121$1,662,037$1,611,894$1,965,329
65$1,974,010$1,690,775$1,613,191$2,086,964
66$2,120,998$1,719,262$1,612,872$2,219,048
67$2,281,266$1,747,432$1,610,829$2,362,604
68$2,456,115$1,775,216$1,606,952$2,518,760
69$2,646,976$1,802,540$1,601,123$2,688,757
70$2,855,427$1,829,323$1,593,219$2,873,962
71$3,083,200$1,855,480$1,583,112$3,075,883
72$3,332,207$1,880,919$1,570,667$3,296,178
73$3,604,550$1,905,542$1,555,742$3,536,676
74$3,902,545$1,929,244$1,538,190$3,799,390
75$4,228,740$1,951,913$1,517,855$4,086,541
76$4,585,944$1,973,428$1,494,575$4,400,573
77$4,977,247$1,993,663$1,468,180$4,744,179
78$5,406,054$2,012,481$1,438,493$5,120,329
79$5,876,116$2,029,737$1,405,326$5,532,292
80$6,391,561$2,045,275$1,368,486$5,983,673
81$6,956,938$2,058,931$1,327,768$6,478,442
82$7,577,256$2,070,530$1,282,959$7,020,976
83$8,258,035$2,079,884$1,233,836$7,616,095
84$9,005,352$2,086,796$1,180,167$8,269,113
85$9,825,902$2,091,053$1,121,707$8,985,885
86$10,727,062$2,092,433$1,058,202$9,772,864
87$11,716,956$2,090,696$989,386$10,637,159
88$12,804,535$2,085,589$914,980$11,586,607
89$13,999,659$2,076,844$834,693$12,629,840
90$15,313,191$2,064,177$748,222$13,776,376
91$16,757,099$2,047,284$655,250$15,036,700
92$18,344,567$2,025,845$555,445$16,422,368
93$20,090,122$1,999,520$448,461$17,946,115
94$22,009,767$1,967,949$333,937$19,621,975
95$24,121,135$1,930,750$211,496$21,465,416
96$26,443,653$1,887,520$80,743$23,493,481
97$28,998,727$1,837,829$0$25,724,955
98$31,809,939$1,781,225$0$28,188,066
99$34,903,275$1,717,227$0$30,909,621
100$38,307,366$1,645,328$0$33,904,470