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

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 $1,950,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$161,029$159,595$158,195$156,829$155,496$152,794
2 years$79,717$78,233$76,794$75,399$74,046$71,332
3 years$52,617$51,126$49,691$48,309$46,978$44,337
4 years$39,070$37,583$36,162$34,804$33,505$30,958
5 years$30,943$29,466$28,063$26,733$25,470$23,024
6 years$25,527$24,061$22,679$21,378$20,153$17,811
7 years$21,660$20,206$18,847$17,576$16,390$14,152
8 years$18,761$17,320$15,983$14,744$13,597$11,462
9 years$16,508$15,081$13,767$12,559$11,451$9,418
10 years$14,706$13,293$12,002$10,826$9,757$7,825
11 years$13,233$11,834$10,566$9,422$8,391$6,558
12 years$12,006$10,621$9,377$8,264$7,271$5,534
13 years$10,969$9,599$8,378$7,296$6,341$4,697
14 years$10,081$8,725$7,528$6,477$5,558$4,005
15 years$9,312$7,970$6,797$5,776$4,894$3,429
16 years$8,639$7,313$6,162$5,172$4,325$2,944
17 years$8,047$6,735$5,607$4,647$3,835$2,536
18 years$7,520$6,223$5,119$4,188$3,410$2,188
19 years$7,050$5,768$4,686$3,784$3,039$1,893
20 years$6,627$5,359$4,300$3,427$2,715$1,639
21 years$6,245$4,992$3,956$3,110$2,430$1,422
22 years$5,899$4,660$3,646$2,828$2,178$1,235
23 years$5,583$4,358$3,366$2,575$1,955$1,074
24 years$5,293$4,084$3,113$2,349$1,757$935
25 years$5,027$3,832$2,883$2,145$1,581$814
26 years$4,782$3,602$2,674$1,961$1,424$710
27 years$4,556$3,390$2,483$1,795$1,284$619
28 years$4,346$3,194$2,308$1,645$1,159$540
29 years$4,151$3,013$2,148$1,508$1,046$471
30 years$3,969$2,846$2,001$1,384$945$412
31 years$3,800$2,690$1,865$1,271$855$360
32 years$3,641$2,545$1,741$1,169$773$314
33 years$3,492$2,410$1,625$1,075$700$275
34 years$3,352$2,285$1,518$989$633$240
35 years$3,221$2,167$1,420$910$574$210
36 years$3,097$2,057$1,328$838$520$184
37 years$2,980$1,953$1,243$772$471$161
38 years$2,870$1,856$1,164$712$427$141
39 years$2,765$1,765$1,091$656$387$123
40 years$2,666$1,679$1,022$605$351$108
41 years$2,572$1,599$958$559$319$94
42 years$2,483$1,523$899$515$289$82
43 years$2,398$1,451$844$476$262$72
44 years$2,317$1,383$792$439$238$63
45 years$2,240$1,319$744$406$216$55
46 years$2,166$1,258$698$375$196$48
47 years$2,096$1,200$656$346$178$42
48 years$2,029$1,146$617$320$162$37
49 years$1,965$1,094$580$296$147$32
50 years$1,904$1,045$545$273$134$28

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 $3,185 every year, while hoping to spend $35,966 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: 69/20/11 Blend
62$1,950,000$1,950,000$1,950,000$1,950,000
63$2,152,185$2,048,835$2,018,610$2,295,535
64$2,333,441$2,110,961$2,047,966$2,453,214
65$2,531,979$2,174,925$2,077,100$2,621,011
66$2,749,524$2,240,780$2,105,967$2,803,630
67$2,987,977$2,308,579$2,134,518$3,002,522
68$3,249,428$2,378,377$2,162,702$3,219,284
69$3,536,183$2,450,231$2,190,466$3,455,673
70$3,850,780$2,524,199$2,217,752$3,713,624
71$4,196,013$2,600,338$2,244,501$3,995,269
72$4,574,963$2,678,711$2,270,648$4,302,956
73$4,991,021$2,759,379$2,296,126$4,639,268
74$5,447,922$2,842,406$2,320,864$5,007,052
75$5,949,784$2,927,858$2,344,787$5,409,443
76$6,501,141$3,015,802$2,367,816$5,849,894
77$7,106,987$3,106,306$2,389,867$6,332,209
78$7,772,825$3,199,440$2,410,853$6,860,575
79$8,504,718$3,295,277$2,430,681$7,439,609
80$9,309,344$3,393,891$2,449,254$8,074,392
81$10,194,063$3,495,357$2,466,470$8,770,525
82$11,166,980$3,599,753$2,482,219$9,534,176
83$12,237,028$3,707,157$2,496,390$10,372,141
84$13,414,049$3,817,651$2,508,863$11,291,905
85$14,708,884$3,931,318$2,519,511$12,301,718
86$16,133,480$4,048,242$2,528,205$13,410,665
87$17,701,000$4,168,511$2,534,805$14,628,759
88$19,425,947$4,292,213$2,539,166$15,967,029
89$21,324,301$4,419,439$2,541,136$17,437,628
90$23,413,670$4,550,282$2,540,554$19,053,946
91$25,713,454$4,684,836$2,537,253$20,830,737
92$28,245,032$4,823,199$2,531,056$22,784,256
93$31,031,958$4,965,468$2,521,779$24,932,413
94$34,100,187$5,111,746$2,509,228$27,294,944
95$37,478,320$5,262,134$2,493,201$29,893,594
96$41,197,869$5,416,740$2,473,483$32,752,324
97$45,293,560$5,575,668$2,449,854$35,897,535
98$49,803,657$5,739,030$2,422,078$39,358,319
99$54,770,324$5,906,936$2,389,911$43,166,733
100$60,240,021$6,079,501$2,353,098$47,358,100