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

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 $1,960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.7%
1 years$161,855$160,413$159,007$157,634$156,293$150,211
2 years$80,126$78,634$77,188$75,785$74,425$68,371
3 years$52,887$51,388$49,946$48,556$47,218$41,383
4 years$39,270$37,776$36,348$34,982$33,677$28,104
5 years$31,102$29,617$28,207$26,870$25,600$20,305
6 years$25,658$24,184$22,796$21,488$20,257$15,242
7 years$21,771$20,310$18,943$17,666$16,474$11,738
8 years$18,858$17,409$16,065$14,820$13,667$9,205
9 years$16,593$15,158$13,837$12,623$11,510$7,316
10 years$14,782$13,361$12,064$10,881$9,807$5,873
11 years$13,301$11,894$10,621$9,470$8,434$4,751
12 years$12,068$10,676$9,425$8,307$7,309$3,867
13 years$11,025$9,648$8,421$7,333$6,373$3,163
14 years$10,132$8,770$7,566$6,510$5,587$2,596
15 years$9,359$8,011$6,831$5,806$4,919$2,138
16 years$8,684$7,350$6,194$5,198$4,348$1,765
17 years$8,088$6,769$5,636$4,671$3,855$1,460
18 years$7,559$6,255$5,145$4,209$3,428$1,210
19 years$7,086$5,797$4,710$3,803$3,055$1,004
20 years$6,661$5,387$4,323$3,445$2,729$834
21 years$6,278$5,018$3,976$3,126$2,442$694
22 years$5,929$4,684$3,664$2,842$2,189$577
23 years$5,611$4,381$3,383$2,589$1,965$481
24 years$5,320$4,104$3,129$2,361$1,766$401
25 years$5,053$3,852$2,898$2,156$1,589$334
26 years$4,807$3,620$2,688$1,972$1,431$278
27 years$4,579$3,407$2,496$1,805$1,291$232
28 years$4,368$3,210$2,320$1,653$1,165$194
29 years$4,172$3,029$2,159$1,516$1,052$162
30 years$3,990$2,860$2,011$1,392$950$135
31 years$3,819$2,704$1,875$1,278$859$113
32 years$3,660$2,558$1,749$1,174$777$94
33 years$3,510$2,423$1,633$1,080$703$79
34 years$3,370$2,296$1,526$994$637$66
35 years$3,237$2,178$1,427$915$577$55
36 years$3,113$2,067$1,335$843$522$46
37 years$2,995$1,963$1,249$776$474$38
38 years$2,884$1,866$1,170$715$429$32
39 years$2,779$1,774$1,096$660$389$27
40 years$2,680$1,688$1,027$608$353$22
41 years$2,585$1,607$963$561$320$19
42 years$2,495$1,530$904$518$291$16
43 years$2,410$1,458$848$478$264$13
44 years$2,329$1,390$796$442$239$11
45 years$2,251$1,325$747$408$217$9
46 years$2,178$1,264$702$377$197$8
47 years$2,107$1,207$660$348$179$6
48 years$2,040$1,152$620$322$163$5
49 years$1,975$1,100$583$297$148$4
50 years$1,914$1,051$548$275$134$4

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 $4,796 every year, while hoping to spend $50,235 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: 45/44/11 Blend
62$1,960,000$1,960,000$1,960,000$1,960,000
63$2,164,867$2,060,987$2,030,607$2,255,324
64$2,332,234$2,108,526$2,045,183$2,366,075
65$2,514,988$2,156,710$2,058,563$2,480,584
66$2,714,647$2,205,519$2,070,655$2,603,621
67$2,932,880$2,254,928$2,081,360$2,735,993
68$3,171,524$2,304,910$2,090,577$2,878,585
69$3,432,604$2,355,436$2,098,196$3,032,377
70$3,718,349$2,406,471$2,104,104$3,198,445
71$4,031,211$2,457,978$2,108,182$3,377,975
72$4,373,893$2,509,918$2,110,305$3,572,275
73$4,749,371$2,562,245$2,110,341$3,782,784
74$5,160,922$2,614,910$2,108,153$4,011,090
75$5,612,156$2,667,860$2,103,595$4,258,941
76$6,107,047$2,721,036$2,096,517$4,528,265
77$6,649,974$2,774,375$2,086,758$4,821,187
78$7,245,759$2,827,808$2,074,153$5,140,046
79$7,899,716$2,881,260$2,058,527$5,487,423
80$8,617,696$2,934,650$2,039,696$5,866,161
81$9,406,144$2,987,891$2,017,469$6,279,396
82$10,272,161$3,040,888$1,991,644$6,730,583
83$11,223,570$3,093,540$1,962,013$7,223,529
84$12,268,987$3,145,736$1,928,353$7,762,432
85$13,417,906$3,197,360$1,890,435$8,351,921
86$14,680,785$3,248,284$1,848,018$8,997,094
87$16,069,147$3,298,371$1,800,848$9,703,576
88$17,595,686$3,347,478$1,748,663$10,477,564
89$19,274,388$3,395,446$1,691,185$11,325,890
90$21,120,662$3,442,109$1,628,125$12,256,086
91$23,151,484$3,487,287$1,559,183$13,276,454
92$25,385,561$3,530,789$1,484,041$14,396,146
93$27,843,501$3,572,411$1,402,369$15,625,250
94$30,548,012$3,611,933$1,313,822$16,974,887
95$33,524,115$3,649,123$1,218,041$18,457,317
96$36,799,376$3,683,732$1,114,647$20,086,052
97$40,404,172$3,715,494$1,003,247$21,875,989
98$44,371,972$3,744,128$883,430$23,843,548
99$48,739,654$3,769,331$754,766$26,006,832
100$53,547,854$3,790,784$616,806$28,385,791