Can I retire at age 63 with 1,960,000?

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 $1,960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$161,855$160,413$159,007$157,634$156,293$153,831
2 years$80,126$78,634$77,188$75,785$74,425$71,951
3 years$52,887$51,388$49,946$48,556$47,218$44,809
4 years$39,270$37,776$36,348$34,982$33,677$31,350
5 years$31,102$29,617$28,207$26,870$25,600$23,365
6 years$25,658$24,184$22,796$21,488$20,257$18,114
7 years$21,771$20,310$18,943$17,666$16,474$14,425
8 years$18,858$17,409$16,065$14,820$13,667$11,710
9 years$16,593$15,158$13,837$12,623$11,510$9,645
10 years$14,782$13,361$12,064$10,881$9,807$8,033
11 years$13,301$11,894$10,621$9,470$8,434$6,749
12 years$12,068$10,676$9,425$8,307$7,309$5,711
13 years$11,025$9,648$8,421$7,333$6,373$4,860
14 years$10,132$8,770$7,566$6,510$5,587$4,155
15 years$9,359$8,011$6,831$5,806$4,919$3,566
16 years$8,684$7,350$6,194$5,198$4,348$3,071
17 years$8,088$6,769$5,636$4,671$3,855$2,652
18 years$7,559$6,255$5,145$4,209$3,428$2,296
19 years$7,086$5,797$4,710$3,803$3,055$1,991
20 years$6,661$5,387$4,323$3,445$2,729$1,730
21 years$6,278$5,018$3,976$3,126$2,442$1,506
22 years$5,929$4,684$3,664$2,842$2,189$1,312
23 years$5,611$4,381$3,383$2,589$1,965$1,144
24 years$5,320$4,104$3,129$2,361$1,766$999
25 years$5,053$3,852$2,898$2,156$1,589$873
26 years$4,807$3,620$2,688$1,972$1,431$763
27 years$4,579$3,407$2,496$1,805$1,291$668
28 years$4,368$3,210$2,320$1,653$1,165$584
29 years$4,172$3,029$2,159$1,516$1,052$512
30 years$3,990$2,860$2,011$1,392$950$448
31 years$3,819$2,704$1,875$1,278$859$393
32 years$3,660$2,558$1,749$1,174$777$345
33 years$3,510$2,423$1,633$1,080$703$302
34 years$3,370$2,296$1,526$994$637$265
35 years$3,237$2,178$1,427$915$577$233
36 years$3,113$2,067$1,335$843$522$204
37 years$2,995$1,963$1,249$776$474$179
38 years$2,884$1,866$1,170$715$429$157
39 years$2,779$1,774$1,096$660$389$138
40 years$2,680$1,688$1,027$608$353$121
41 years$2,585$1,607$963$561$320$106
42 years$2,495$1,530$904$518$291$94
43 years$2,410$1,458$848$478$264$82
44 years$2,329$1,390$796$442$239$72
45 years$2,251$1,325$747$408$217$63
46 years$2,178$1,264$702$377$197$56
47 years$2,107$1,207$660$348$179$49
48 years$2,040$1,152$620$322$163$43
49 years$1,975$1,100$583$297$148$38
50 years$1,914$1,051$548$275$134$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $1,960,000, adding $3,797 every year, while hoping to spend $42,339 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: 42/29/29 Blend
62$1,960,000$1,960,000$1,960,000$1,960,000
63$2,163,837$2,059,957$2,029,577$2,236,203
64$2,339,500$2,115,846$2,052,519$2,344,654
65$2,531,661$2,173,055$2,074,811$2,457,774
66$2,741,959$2,231,604$2,096,386$2,579,483
67$2,972,198$2,291,511$2,117,174$2,710,603
68$3,224,364$2,352,797$2,137,101$2,852,035
69$3,500,645$2,415,479$2,156,089$3,004,776
70$3,803,449$2,479,576$2,174,056$3,169,920
71$4,135,429$2,545,104$2,190,916$3,348,676
72$4,499,509$2,612,080$2,206,578$3,542,373
73$4,898,906$2,680,519$2,220,945$3,752,477
74$5,337,166$2,750,436$2,233,918$3,980,604
75$5,818,193$2,821,844$2,245,391$4,228,533
76$6,346,289$2,894,754$2,255,252$4,498,226
77$6,926,192$2,969,179$2,263,384$4,791,844
78$7,563,121$3,045,126$2,269,665$5,111,769
79$8,262,827$3,122,605$2,273,966$5,460,625
80$9,031,643$3,201,620$2,276,152$5,841,307
81$9,876,547$3,282,176$2,276,080$6,257,003
82$10,805,228$3,364,276$2,273,601$6,711,227
83$11,826,154$3,447,918$2,268,560$7,207,851
84$12,948,656$3,533,101$2,260,791$7,751,146
85$14,183,015$3,619,819$2,250,124$8,345,817
86$15,540,558$3,708,065$2,236,378$8,997,048
87$17,033,761$3,797,827$2,219,363$9,710,557
88$18,676,376$3,889,091$2,198,883$10,492,644
89$20,483,551$3,981,841$2,174,730$11,350,252
90$22,471,975$4,076,054$2,146,686$12,291,036
91$24,660,042$4,171,705$2,114,524$13,323,431
92$27,068,012$4,268,765$2,078,007$14,456,737
93$29,718,214$4,367,199$2,036,885$15,701,202
94$32,635,248$4,466,968$1,990,897$17,068,122
95$35,846,221$4,568,028$1,939,770$18,569,949
96$39,381,003$4,670,328$1,883,219$20,220,407
97$43,272,504$4,773,813$1,820,946$22,034,622
98$47,556,989$4,878,419$1,752,637$24,029,266
99$52,274,418$4,984,078$1,677,967$26,222,715
100$57,468,824$5,090,713$1,596,594$28,635,225