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

Use the below retirement simulation to view the chances of a successful retirement.
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%16.4%
1 years$160,203$158,776$157,384$156,025$154,698$150,653
2 years$79,309$77,832$76,400$75,012$73,666$69,618
3 years$52,347$50,864$49,436$48,061$46,737$42,813
4 years$38,869$37,390$35,977$34,625$33,333$29,563
5 years$30,784$29,314$27,919$26,596$25,339$21,734
6 years$25,396$23,937$22,563$21,269$20,050$16,613
7 years$21,549$20,103$18,750$17,486$16,306$13,037
8 years$18,665$17,232$15,901$14,669$13,527$10,425
9 years$16,423$15,003$13,696$12,494$11,392$8,454
10 years$14,631$13,225$11,940$10,770$9,707$6,929
11 years$13,165$11,773$10,512$9,373$8,348$5,726
12 years$11,945$10,567$9,329$8,222$7,234$4,764
13 years$10,913$9,549$8,335$7,259$6,308$3,984
14 years$10,029$8,680$7,489$6,443$5,530$3,347
15 years$9,264$7,929$6,762$5,746$4,869$2,822
16 years$8,595$7,275$6,130$5,145$4,303$2,386
17 years$8,005$6,700$5,578$4,623$3,816$2,022
18 years$7,482$6,191$5,092$4,166$3,393$1,717
19 years$7,014$5,738$4,662$3,765$3,024$1,461
20 years$6,593$5,332$4,278$3,409$2,701$1,245
21 years$6,213$4,967$3,935$3,094$2,417$1,062
22 years$5,868$4,636$3,627$2,813$2,167$907
23 years$5,554$4,336$3,349$2,562$1,945$775
24 years$5,266$4,063$3,097$2,337$1,748$663
25 years$5,002$3,813$2,869$2,134$1,573$567
26 years$4,758$3,583$2,660$1,951$1,417$486
27 years$4,533$3,372$2,470$1,786$1,277$416
28 years$4,324$3,178$2,297$1,637$1,153$357
29 years$4,130$2,998$2,137$1,501$1,041$306
30 years$3,949$2,831$1,991$1,377$940$262
31 years$3,780$2,676$1,856$1,265$850$225
32 years$3,622$2,532$1,732$1,163$769$193
33 years$3,474$2,398$1,617$1,069$696$166
34 years$3,335$2,273$1,511$984$630$142
35 years$3,204$2,156$1,412$905$571$122
36 years$3,081$2,046$1,321$834$517$105
37 years$2,965$1,943$1,237$768$469$90
38 years$2,855$1,847$1,158$708$425$77
39 years$2,751$1,756$1,085$653$385$66
40 years$2,652$1,671$1,017$602$350$57
41 years$2,559$1,591$954$556$317$49
42 years$2,470$1,515$894$513$288$42
43 years$2,385$1,443$839$473$261$36
44 years$2,305$1,376$788$437$237$31
45 years$2,228$1,312$740$404$215$27
46 years$2,155$1,251$695$373$195$23
47 years$2,086$1,194$653$345$177$20
48 years$2,019$1,140$613$318$161$17
49 years$1,955$1,089$577$294$146$15
50 years$1,894$1,040$542$272$133$12

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 $6,392 every year, while hoping to spend $42,807 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: 53/21/26 Blend
62$1,940,000$1,940,000$1,940,000$1,940,000
63$2,144,473$2,041,653$2,011,583$2,242,308
64$2,317,663$2,096,148$2,033,425$2,365,144
65$2,507,084$2,151,878$2,054,564$2,493,839
66$2,714,346$2,208,859$2,074,931$2,633,026
67$2,941,221$2,267,106$2,094,453$2,783,723
68$3,189,664$2,326,632$2,113,056$2,947,055
69$3,461,823$2,387,451$2,130,657$3,124,259
70$3,760,068$2,449,574$2,147,172$3,316,697
71$4,087,005$2,513,014$2,162,513$3,525,871
72$4,445,507$2,577,779$2,176,584$3,753,436
73$4,838,738$2,643,879$2,189,289$4,001,216
74$5,270,181$2,711,322$2,200,522$4,271,219
75$5,743,676$2,780,112$2,210,176$4,565,659
76$6,263,448$2,850,256$2,218,135$4,886,975
77$6,834,156$2,921,754$2,224,278$5,237,857
78$7,460,929$2,994,609$2,228,481$5,621,265
79$8,149,419$3,068,820$2,230,609$6,040,465
80$8,905,849$3,144,382$2,230,524$6,499,056
81$9,737,079$3,221,290$2,228,080$7,001,001
82$10,650,663$3,299,535$2,223,123$7,550,672
83$11,654,926$3,379,108$2,215,493$8,152,884
84$12,759,038$3,459,993$2,205,021$8,812,944
85$13,973,101$3,542,174$2,191,530$9,536,703
86$15,308,246$3,625,629$2,174,836$10,330,608
87$16,776,738$3,710,336$2,154,744$11,201,764
88$18,392,088$3,796,265$2,131,051$12,158,002
89$20,169,184$3,883,385$2,103,544$13,207,953
90$22,124,428$3,971,659$2,072,000$14,361,130
91$24,275,894$4,061,044$2,036,186$15,628,017
92$26,643,495$4,151,495$1,995,858$17,020,169
93$29,249,172$4,242,958$1,950,759$18,550,321
94$32,117,101$4,335,377$1,900,624$20,232,508
95$35,273,921$4,428,686$1,845,171$22,082,201
96$38,748,985$4,522,816$1,784,107$24,116,448
97$42,574,634$4,617,687$1,717,128$26,354,041
98$46,786,507$4,713,214$1,643,912$28,815,689
99$51,423,873$4,809,303$1,564,125$31,524,218
100$56,530,003$4,905,853$1,477,417$34,504,784