Can I retire at age 63 with 1,640,000?

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 $1,640,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$135,430$134,223$133,046$131,898$130,776$128,031
2 years$67,044$65,796$64,586$63,412$62,274$59,522
3 years$44,252$42,998$41,791$40,629$39,509$36,835
4 years$32,858$31,608$30,413$29,271$28,178$25,603
5 years$26,024$24,781$23,602$22,483$21,421$18,951
6 years$21,469$20,236$19,074$17,980$16,950$14,589
7 years$18,217$16,994$15,850$14,782$13,784$11,533
8 years$15,779$14,567$13,442$12,400$11,436$9,293
9 years$13,884$12,683$11,578$10,562$9,630$7,595
10 years$12,368$11,180$10,094$9,105$8,206$6,275
11 years$11,129$9,953$8,887$7,924$7,057$5,229
12 years$10,098$8,933$7,887$6,950$6,116$4,387
13 years$9,225$8,073$7,046$6,136$5,333$3,702
14 years$8,478$7,338$6,331$5,447$4,675$3,137
15 years$7,831$6,703$5,716$4,858$4,116$2,669
16 years$7,266$6,150$5,182$4,350$3,638$2,277
17 years$6,767$5,664$4,716$3,908$3,225$1,949
18 years$6,325$5,234$4,305$3,522$2,868$1,671
19 years$5,929$4,851$3,941$3,182$2,556$1,435
20 years$5,574$4,507$3,617$2,882$2,283$1,235
21 years$5,253$4,199$3,327$2,616$2,043$1,064
22 years$4,961$3,919$3,066$2,378$1,832$918
23 years$4,695$3,666$2,831$2,166$1,644$793
24 years$4,452$3,434$2,618$1,976$1,478$685
25 years$4,228$3,223$2,425$1,804$1,330$592
26 years$4,022$3,029$2,249$1,650$1,198$513
27 years$3,832$2,851$2,088$1,510$1,080$444
28 years$3,655$2,686$1,941$1,383$974$384
29 years$3,491$2,534$1,807$1,269$880$333
30 years$3,338$2,393$1,683$1,164$795$289
31 years$3,196$2,262$1,569$1,069$719$250
32 years$3,062$2,141$1,464$983$650$217
33 years$2,937$2,027$1,367$904$588$188
34 years$2,819$1,921$1,277$831$533$163
35 years$2,709$1,822$1,194$765$483$142
36 years$2,605$1,730$1,117$705$437$123
37 years$2,506$1,643$1,045$650$396$107
38 years$2,413$1,561$979$599$359$93
39 years$2,325$1,485$917$552$326$81
40 years$2,242$1,412$860$509$295$70
41 years$2,163$1,345$806$470$268$61
42 years$2,088$1,281$756$434$243$53
43 years$2,017$1,220$710$400$221$46
44 years$1,949$1,163$666$370$200$40
45 years$1,884$1,109$625$341$182$35
46 years$1,822$1,058$587$315$165$30
47 years$1,763$1,010$552$291$150$26
48 years$1,707$964$519$269$136$23
49 years$1,653$920$487$249$124$20
50 years$1,601$879$458$230$112$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $1,640,000, adding $4,732 every year, while hoping to spend $51,008 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: 65/6/29 Blend
62$1,640,000$1,640,000$1,640,000$1,640,000
63$1,812,161$1,725,241$1,699,821$1,915,714
64$1,942,729$1,755,506$1,702,493$2,016,616
65$2,084,906$1,785,544$1,703,545$2,120,798
66$2,239,821$1,815,290$1,702,868$2,233,573
67$2,408,719$1,844,676$1,700,350$2,355,793
68$2,592,968$1,873,624$1,695,872$2,488,398
69$2,794,075$1,902,056$1,689,308$2,632,426
70$3,013,699$1,929,885$1,680,528$2,789,020
71$3,253,665$1,957,018$1,669,394$2,959,441
72$3,515,983$1,983,356$1,655,763$3,145,080
73$3,802,867$2,008,795$1,639,485$3,347,470
74$4,116,753$2,033,219$1,620,401$3,568,303
75$4,460,324$2,056,509$1,598,347$3,809,443
76$4,836,535$2,078,536$1,573,150$4,072,947
77$5,248,639$2,099,162$1,544,628$4,361,083
78$5,700,219$2,118,240$1,512,592$4,676,350
79$6,195,222$2,135,613$1,476,843$5,021,508
80$6,737,992$2,151,116$1,437,175$5,399,596
81$7,333,316$2,164,570$1,393,370$5,813,966
82$7,986,468$2,175,787$1,345,201$6,268,317
83$8,703,253$2,184,566$1,292,431$6,766,722
84$9,490,069$2,190,693$1,234,811$7,313,678
85$10,353,960$2,193,942$1,172,082$7,914,138
86$11,302,690$2,194,071$1,103,972$8,573,567
87$12,344,808$2,190,824$1,030,199$9,297,987
88$13,489,733$2,183,929$950,465$10,094,041
89$14,747,842$2,173,098$864,462$10,969,051
90$16,130,566$2,158,024$771,865$11,931,087
91$17,650,498$2,138,382$672,338$12,989,051
92$19,321,514$2,113,828$565,526$14,152,753
93$21,158,900$2,083,996$451,062$15,433,010
94$23,179,497$2,048,501$328,562$16,841,746
95$25,401,859$2,006,932$197,623$18,392,106
96$27,846,432$1,958,854$57,826$20,098,581
97$30,535,739$1,903,808$0$21,977,146
98$33,494,597$1,841,308$0$24,073,680
99$36,750,352$1,770,838$0$26,400,259
100$40,333,132$1,691,853$0$28,960,515