Can I retire at age 63 with 1,980,000?

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 $1,980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$163,507$162,050$160,629$159,242$157,888$156,369
2 years$80,944$79,436$77,975$76,559$75,185$73,655
3 years$53,427$51,913$50,455$49,052$47,700$46,207
4 years$39,671$38,161$36,718$35,339$34,020$32,574
5 years$31,419$29,919$28,495$27,144$25,862$24,468
6 years$25,920$24,431$23,028$21,707$20,463$19,123
7 years$21,994$20,517$19,137$17,847$16,642$15,356
8 years$19,050$17,587$16,229$14,971$13,806$12,575
9 years$16,762$15,313$13,978$12,752$11,627$10,449
10 years$14,932$13,497$12,187$10,992$9,907$8,782
11 years$13,437$12,016$10,729$9,567$8,520$7,448
12 years$12,191$10,785$9,522$8,391$7,383$6,362
13 years$11,138$9,746$8,507$7,408$6,438$5,467
14 years$10,236$8,859$7,644$6,576$5,644$4,721
15 years$9,455$8,093$6,901$5,865$4,969$4,094
16 years$8,772$7,425$6,257$5,251$4,392$3,563
17 years$8,170$6,838$5,693$4,718$3,894$3,109
18 years$7,636$6,319$5,197$4,252$3,463$2,721
19 years$7,159$5,856$4,758$3,842$3,086$2,386
20 years$6,729$5,442$4,367$3,480$2,757$2,096
21 years$6,342$5,069$4,016$3,158$2,467$1,844
22 years$5,989$4,732$3,702$2,871$2,211$1,625
23 years$5,668$4,425$3,418$2,615$1,985$1,434
24 years$5,375$4,146$3,161$2,385$1,784$1,267
25 years$5,105$3,891$2,928$2,178$1,605$1,120
26 years$4,856$3,657$2,715$1,992$1,446$991
27 years$4,626$3,442$2,521$1,823$1,304$877
28 years$4,413$3,243$2,344$1,670$1,176$777
29 years$4,215$3,059$2,181$1,532$1,062$689
30 years$4,030$2,889$2,032$1,406$960$611
31 years$3,858$2,731$1,894$1,291$868$542
32 years$3,697$2,584$1,767$1,186$785$482
33 years$3,546$2,448$1,650$1,091$710$428
34 years$3,404$2,320$1,542$1,004$643$380
35 years$3,270$2,200$1,441$924$583$338
36 years$3,145$2,088$1,348$851$528$300
37 years$3,026$1,983$1,262$784$478$267
38 years$2,914$1,885$1,182$723$434$237
39 years$2,808$1,792$1,107$666$393$211
40 years$2,707$1,705$1,038$615$357$188
41 years$2,612$1,623$973$567$324$167
42 years$2,521$1,546$913$523$294$148
43 years$2,435$1,473$857$483$267$132
44 years$2,353$1,404$804$446$242$117
45 years$2,274$1,339$755$412$220$105
46 years$2,200$1,277$709$381$199$93
47 years$2,129$1,219$666$352$181$83
48 years$2,060$1,164$626$325$164$74
49 years$1,995$1,111$588$300$149$66
50 years$1,933$1,061$553$278$136$58

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $1,980,000, adding $2,541 every year, while hoping to spend $38,826 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: 49/23/28 Blend
62$1,980,000$1,980,000$1,980,000$1,980,000
63$2,184,581$2,079,641$2,048,951$2,274,125
64$2,366,098$2,140,233$2,076,280$2,397,771
65$2,564,828$2,202,492$2,103,224$2,527,992
66$2,782,486$2,266,460$2,129,728$2,668,721
67$3,020,961$2,332,178$2,155,735$2,820,972
68$3,282,332$2,399,688$2,181,185$2,985,861
69$3,568,890$2,469,033$2,206,015$3,164,617
70$3,883,157$2,540,256$2,230,157$3,358,592
71$4,227,913$2,613,402$2,253,540$3,569,278
72$4,606,216$2,688,514$2,276,090$3,798,317
73$5,021,438$2,765,640$2,297,727$4,047,516
74$5,477,293$2,844,825$2,318,370$4,318,868
75$5,977,871$2,926,115$2,337,929$4,614,568
76$6,527,677$3,009,558$2,356,313$4,937,034
77$7,131,676$3,095,202$2,373,425$5,288,930
78$7,795,335$3,183,095$2,389,162$5,673,190
79$8,524,678$3,273,285$2,403,418$6,093,048
80$9,326,342$3,365,823$2,416,080$6,552,068
81$10,207,639$3,460,758$2,427,028$7,054,175
82$11,176,623$3,558,141$2,436,139$7,603,694
83$12,242,169$3,658,020$2,443,280$8,205,393
84$13,414,055$3,760,448$2,448,315$8,864,524
85$14,703,054$3,865,476$2,451,099$9,586,874
86$16,121,035$3,973,153$2,451,480$10,378,821
87$17,681,076$4,083,533$2,449,300$11,247,394
88$19,397,585$4,196,665$2,444,391$12,200,337
89$21,286,439$4,312,602$2,436,578$13,246,185
90$23,365,130$4,431,394$2,425,678$14,394,343
91$25,652,933$4,553,093$2,411,498$15,655,176
92$28,171,086$4,677,748$2,393,837$17,040,105
93$30,942,990$4,805,410$2,372,483$18,561,718
94$33,994,428$4,936,129$2,347,215$20,233,887
95$37,353,814$5,069,954$2,317,801$22,071,897
96$41,052,454$5,206,932$2,283,999$24,092,596
97$45,124,845$5,347,112$2,245,553$26,314,549
98$49,608,998$5,490,540$2,202,198$28,758,217
99$54,546,800$5,637,260$2,153,655$31,446,147
100$59,984,404$5,787,316$2,099,633$34,403,188