Can I retire at age 63 with 1,950,000?

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 $1,950,000?

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$161,029$159,595$158,195$156,829$155,496$151,430
2 years$79,717$78,233$76,794$75,399$74,046$69,977
3 years$52,617$51,126$49,691$48,309$46,978$43,033
4 years$39,070$37,583$36,162$34,804$33,505$29,715
5 years$30,943$29,466$28,063$26,733$25,470$21,846
6 years$25,527$24,061$22,679$21,378$20,153$16,698
7 years$21,660$20,206$18,847$17,576$16,390$13,104
8 years$18,761$17,320$15,983$14,744$13,597$10,479
9 years$16,508$15,081$13,767$12,559$11,451$8,497
10 years$14,706$13,293$12,002$10,826$9,757$6,964
11 years$13,233$11,834$10,566$9,422$8,391$5,756
12 years$12,006$10,621$9,377$8,264$7,271$4,788
13 years$10,969$9,599$8,378$7,296$6,341$4,005
14 years$10,081$8,725$7,528$6,477$5,558$3,364
15 years$9,312$7,970$6,797$5,776$4,894$2,836
16 years$8,639$7,313$6,162$5,172$4,325$2,398
17 years$8,047$6,735$5,607$4,647$3,835$2,032
18 years$7,520$6,223$5,119$4,188$3,410$1,726
19 years$7,050$5,768$4,686$3,784$3,039$1,469
20 years$6,627$5,359$4,300$3,427$2,715$1,251
21 years$6,245$4,992$3,956$3,110$2,430$1,067
22 years$5,899$4,660$3,646$2,828$2,178$911
23 years$5,583$4,358$3,366$2,575$1,955$779
24 years$5,293$4,084$3,113$2,349$1,757$666
25 years$5,027$3,832$2,883$2,145$1,581$570
26 years$4,782$3,602$2,674$1,961$1,424$488
27 years$4,556$3,390$2,483$1,795$1,284$418
28 years$4,346$3,194$2,308$1,645$1,159$359
29 years$4,151$3,013$2,148$1,508$1,046$307
30 years$3,969$2,846$2,001$1,384$945$264
31 years$3,800$2,690$1,865$1,271$855$226
32 years$3,641$2,545$1,741$1,169$773$194
33 years$3,492$2,410$1,625$1,075$700$167
34 years$3,352$2,285$1,518$989$633$143
35 years$3,221$2,167$1,420$910$574$123
36 years$3,097$2,057$1,328$838$520$105
37 years$2,980$1,953$1,243$772$471$90
38 years$2,870$1,856$1,164$712$427$78
39 years$2,765$1,765$1,091$656$387$67
40 years$2,666$1,679$1,022$605$351$57
41 years$2,572$1,599$958$559$319$49
42 years$2,483$1,523$899$515$289$42
43 years$2,398$1,451$844$476$262$36
44 years$2,317$1,383$792$439$238$31
45 years$2,240$1,319$744$406$216$27
46 years$2,166$1,258$698$375$196$23
47 years$2,096$1,200$656$346$178$20
48 years$2,029$1,146$617$320$162$17
49 years$1,965$1,094$580$296$147$15
50 years$1,904$1,045$545$273$134$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $1,950,000, adding $4,605 every year, while hoping to spend $34,521 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: 39/41/20 Blend
62$1,950,000$1,950,000$1,950,000$1,950,000
63$2,153,650$2,050,300$2,020,075$2,224,643
64$2,336,592$2,114,035$2,051,017$2,339,836
65$2,537,038$2,179,735$2,081,840$2,460,689
66$2,756,735$2,247,462$2,112,501$2,590,656
67$2,997,610$2,317,276$2,142,958$2,730,583
68$3,261,785$2,389,241$2,173,166$2,881,400
69$3,551,596$2,463,423$2,203,075$3,044,129
70$3,869,617$2,539,888$2,232,636$3,219,895
71$4,218,682$2,618,707$2,261,794$3,409,935
72$4,601,914$2,699,950$2,290,490$3,615,610
73$5,022,753$2,783,691$2,318,665$3,838,417
74$5,484,988$2,870,006$2,346,255$4,080,004
75$5,992,793$2,958,973$2,373,191$4,342,185
76$6,550,767$3,050,672$2,399,402$4,626,956
77$7,163,976$3,145,186$2,424,813$4,936,515
78$7,838,001$3,242,599$2,449,343$5,273,279
79$8,578,989$3,342,999$2,472,909$5,639,912
80$9,393,717$3,446,476$2,495,422$6,039,346
81$10,289,646$3,553,124$2,516,788$6,474,810
82$11,275,000$3,663,037$2,536,911$6,949,858
83$12,358,838$3,776,313$2,555,685$7,468,404
84$13,551,142$3,893,055$2,573,003$8,034,760
85$14,862,909$4,013,366$2,588,749$8,653,674
86$16,306,257$4,137,352$2,602,804$9,330,374
87$17,894,538$4,265,125$2,615,041$10,070,621
88$19,642,463$4,396,798$2,625,326$10,880,758
89$21,566,240$4,532,487$2,633,520$11,767,774
90$23,683,730$4,672,312$2,639,477$12,739,365
91$26,014,613$4,816,398$2,643,042$13,804,011
92$28,580,573$4,964,871$2,644,053$14,971,053
93$31,405,503$5,117,862$2,642,341$16,250,781
94$34,515,732$5,275,505$2,637,728$17,654,531
95$37,940,272$5,437,939$2,630,026$19,194,795
96$41,711,088$5,605,306$2,619,040$20,885,330
97$45,863,405$5,777,753$2,604,565$22,741,296
98$50,436,040$5,955,430$2,586,385$24,779,397
99$55,471,762$6,138,493$2,564,275$27,018,034
100$61,017,702$6,327,099$2,537,998$29,477,482