Can I retire at age 63 with 1,740,000?

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 $1,740,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.1%
1 years$143,688$142,408$141,159$139,940$138,750$134,201
2 years$71,132$69,808$68,524$67,279$66,071$61,532
3 years$46,951$45,620$44,339$43,106$41,918$37,531
4 years$34,862$33,536$32,268$31,056$29,897$25,694
5 years$27,611$26,292$25,041$23,854$22,727$18,721
6 years$22,778$21,470$20,237$19,076$17,983$14,177
7 years$19,328$18,030$16,817$15,683$14,625$11,019
8 years$16,741$15,455$14,262$13,156$12,133$8,724
9 years$14,730$13,457$12,284$11,206$10,218$7,001
10 years$13,122$11,861$10,709$9,660$8,706$5,678
11 years$11,808$10,559$9,428$8,407$7,487$4,641
12 years$10,713$9,478$8,367$7,374$6,488$3,818
13 years$9,788$8,565$7,476$6,510$5,658$3,157
14 years$8,995$7,785$6,717$5,779$4,960$2,621
15 years$8,309$7,112$6,065$5,154$4,367$2,183
16 years$7,709$6,525$5,498$4,615$3,860$1,823
17 years$7,180$6,009$5,003$4,146$3,422$1,526
18 years$6,711$5,553$4,567$3,737$3,043$1,280
19 years$6,291$5,146$4,181$3,376$2,712$1,075
20 years$5,914$4,782$3,837$3,058$2,423$904
21 years$5,573$4,455$3,530$2,775$2,168$761
22 years$5,263$4,158$3,253$2,523$1,943$642
23 years$4,981$3,889$3,004$2,298$1,744$541
24 years$4,723$3,644$2,778$2,096$1,568$457
25 years$4,486$3,419$2,573$1,914$1,411$386
26 years$4,267$3,214$2,386$1,750$1,271$326
27 years$4,065$3,025$2,216$1,602$1,146$275
28 years$3,878$2,850$2,060$1,468$1,034$233
29 years$3,704$2,689$1,917$1,346$934$197
30 years$3,542$2,539$1,786$1,235$843$166
31 years$3,391$2,400$1,665$1,135$763$141
32 years$3,249$2,271$1,553$1,043$690$119
33 years$3,116$2,151$1,450$959$624$101
34 years$2,991$2,039$1,355$882$565$85
35 years$2,874$1,934$1,267$812$512$72
36 years$2,764$1,835$1,185$748$464$61
37 years$2,659$1,743$1,109$689$420$52
38 years$2,561$1,656$1,039$635$381$44
39 years$2,467$1,575$973$586$346$37
40 years$2,379$1,499$912$540$313$31
41 years$2,295$1,427$855$498$284$27
42 years$2,215$1,359$802$460$258$22
43 years$2,139$1,294$753$425$234$19
44 years$2,067$1,234$707$392$213$16
45 years$1,999$1,177$664$362$193$14
46 years$1,933$1,122$623$334$175$12
47 years$1,871$1,071$585$309$159$10
48 years$1,811$1,023$550$286$145$8
49 years$1,754$977$517$264$131$7
50 years$1,699$933$486$244$119$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $1,740,000, adding $6,549 every year, while hoping to spend $50,184 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: 25/47/28 Blend
62$1,740,000$1,740,000$1,740,000$1,740,000
63$1,924,235$1,832,015$1,805,045$1,955,318
64$2,067,112$1,868,389$1,812,119$2,018,144
65$2,222,880$1,904,862$1,817,748$2,080,767
66$2,392,801$1,941,388$1,821,830$2,146,871
67$2,578,265$1,977,914$1,824,259$2,216,781
68$2,780,801$2,014,384$1,824,924$2,290,860
69$3,002,090$2,050,737$1,823,707$2,369,506
70$3,243,988$2,086,908$1,820,485$2,453,163
71$3,508,532$2,122,824$1,815,130$2,542,321
72$3,797,971$2,158,411$1,807,505$2,637,521
73$4,114,776$2,193,585$1,797,469$2,739,364
74$4,461,673$2,228,260$1,784,873$2,848,513
75$4,841,659$2,262,341$1,769,562$2,965,704
76$5,258,038$2,295,725$1,751,372$3,091,749
77$5,714,448$2,328,305$1,730,133$3,227,548
78$6,214,894$2,359,964$1,705,664$3,374,095
79$6,763,789$2,390,579$1,677,780$3,532,490
80$7,365,993$2,420,015$1,646,283$3,703,951
81$8,026,859$2,448,130$1,610,969$3,889,822
82$8,752,284$2,474,774$1,571,622$4,091,592
83$9,548,763$2,499,784$1,528,017$4,310,904
84$10,423,450$2,522,987$1,479,919$4,549,578
85$11,384,229$2,544,200$1,427,083$4,809,622
86$12,439,780$2,563,226$1,369,251$5,093,258
87$13,599,671$2,579,857$1,306,153$5,402,941
88$14,874,437$2,593,870$1,237,510$5,741,383
89$16,275,690$2,605,029$1,163,026$6,111,581
90$17,816,217$2,613,083$1,082,395$6,516,845
91$19,510,112$2,617,765$995,295$6,960,835
92$21,372,898$2,618,790$901,392$7,447,589
93$23,421,680$2,615,857$800,335$7,981,571
94$25,675,303$2,608,646$691,758$8,567,708
95$28,154,531$2,596,817$575,279$9,211,443
96$30,882,241$2,580,009$450,499$9,918,787
97$33,883,640$2,557,839$317,001$10,696,373
98$37,186,502$2,529,903$174,351$11,551,529
99$40,821,427$2,495,770$22,093$12,492,342
100$44,822,134$2,454,985$0$13,527,739