Can I retire at age 63 with 1,940,000?

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 $1,940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$160,203$158,776$157,384$156,025$154,698$153,210
2 years$79,309$77,832$76,400$75,012$73,666$72,167
3 years$52,347$50,864$49,436$48,061$46,737$45,273
4 years$38,869$37,390$35,977$34,625$33,333$31,916
5 years$30,784$29,314$27,919$26,596$25,339$23,973
6 years$25,396$23,937$22,563$21,269$20,050$18,737
7 years$21,549$20,103$18,750$17,486$16,306$15,046
8 years$18,665$17,232$15,901$14,669$13,527$12,321
9 years$16,423$15,003$13,696$12,494$11,392$10,238
10 years$14,631$13,225$11,940$10,770$9,707$8,605
11 years$13,165$11,773$10,512$9,373$8,348$7,297
12 years$11,945$10,567$9,329$8,222$7,234$6,234
13 years$10,913$9,549$8,335$7,259$6,308$5,357
14 years$10,029$8,680$7,489$6,443$5,530$4,626
15 years$9,264$7,929$6,762$5,746$4,869$4,012
16 years$8,595$7,275$6,130$5,145$4,303$3,491
17 years$8,005$6,700$5,578$4,623$3,816$3,047
18 years$7,482$6,191$5,092$4,166$3,393$2,666
19 years$7,014$5,738$4,662$3,765$3,024$2,338
20 years$6,593$5,332$4,278$3,409$2,701$2,054
21 years$6,213$4,967$3,935$3,094$2,417$1,807
22 years$5,868$4,636$3,627$2,813$2,167$1,592
23 years$5,554$4,336$3,349$2,562$1,945$1,405
24 years$5,266$4,063$3,097$2,337$1,748$1,241
25 years$5,002$3,813$2,869$2,134$1,573$1,097
26 years$4,758$3,583$2,660$1,951$1,417$971
27 years$4,533$3,372$2,470$1,786$1,277$860
28 years$4,324$3,178$2,297$1,637$1,153$762
29 years$4,130$2,998$2,137$1,501$1,041$675
30 years$3,949$2,831$1,991$1,377$940$599
31 years$3,780$2,676$1,856$1,265$850$531
32 years$3,622$2,532$1,732$1,163$769$472
33 years$3,474$2,398$1,617$1,069$696$419
34 years$3,335$2,273$1,511$984$630$372
35 years$3,204$2,156$1,412$905$571$331
36 years$3,081$2,046$1,321$834$517$294
37 years$2,965$1,943$1,237$768$469$261
38 years$2,855$1,847$1,158$708$425$232
39 years$2,751$1,756$1,085$653$385$207
40 years$2,652$1,671$1,017$602$350$184
41 years$2,559$1,591$954$556$317$163
42 years$2,470$1,515$894$513$288$145
43 years$2,385$1,443$839$473$261$129
44 years$2,305$1,376$788$437$237$115
45 years$2,228$1,312$740$404$215$102
46 years$2,155$1,251$695$373$195$91
47 years$2,086$1,194$653$345$177$81
48 years$2,019$1,140$613$318$161$72
49 years$1,955$1,089$577$294$146$64
50 years$1,894$1,040$542$272$133$57

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $1,940,000, adding $5,214 every year, while hoping to spend $59,103 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: 88/6/6 Blend
62$1,940,000$1,940,000$1,940,000$1,940,000
63$2,143,258$2,040,438$2,010,368$2,331,025
64$2,298,985$2,077,535$2,014,830$2,491,120
65$2,468,616$2,114,468$2,017,461$2,658,296
66$2,653,505$2,151,167$2,018,137$2,840,140
67$2,855,146$2,187,558$2,016,728$3,038,085
68$3,075,180$2,223,557$2,013,097$3,253,712
69$3,315,415$2,259,078$2,007,102$3,488,758
70$3,577,841$2,294,026$1,998,593$3,745,139
71$3,864,648$2,328,301$1,987,414$4,024,963
72$4,178,248$2,361,793$1,973,398$4,330,552
73$4,521,297$2,394,389$1,956,375$4,664,464
74$4,896,718$2,425,963$1,936,162$5,029,514
75$5,307,730$2,456,382$1,912,571$5,428,805
76$5,757,880$2,485,507$1,885,403$5,865,755
77$6,251,071$2,513,184$1,854,452$6,344,127
78$6,791,604$2,539,253$1,819,499$6,868,067
79$7,384,212$2,563,541$1,780,317$7,442,144
80$8,034,112$2,585,865$1,736,668$8,071,388
81$8,747,049$2,606,029$1,688,303$8,761,344
82$9,529,349$2,623,826$1,634,962$9,518,117
83$10,387,981$2,639,032$1,576,373$10,348,437
84$11,330,623$2,651,413$1,512,249$11,259,715
85$12,365,732$2,660,717$1,442,295$12,260,118
86$13,502,622$2,666,678$1,366,197$13,358,645
87$14,751,556$2,669,011$1,283,631$14,565,209
88$16,123,838$2,667,417$1,194,256$15,890,734
89$17,631,924$2,661,574$1,097,718$17,347,256
90$19,289,533$2,651,144$993,645$18,948,036
91$21,111,782$2,635,766$881,648$20,707,687
92$23,115,323$2,615,059$761,323$22,642,311
93$25,318,505$2,588,616$632,246$24,769,647
94$27,741,543$2,556,008$493,976$27,109,247
95$30,406,707$2,516,779$346,052$29,682,650
96$33,338,538$2,470,448$187,991$32,513,595
97$36,564,071$2,416,502$19,291$35,628,238
98$40,113,096$2,354,400$0$39,055,400
99$44,018,435$2,283,569$0$42,837,134
100$48,316,254$2,203,403$0$47,000,133