Can I retire at age 63 with 2,020,000?

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 $2,020,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$166,810$165,324$163,874$162,459$161,078$157,761
2 years$82,579$81,041$79,551$78,105$76,704$73,377
3 years$54,506$52,961$51,474$50,043$48,664$45,431
4 years$40,472$38,932$37,460$36,053$34,708$31,594
5 years$32,054$30,523$29,071$27,692$26,384$23,398
6 years$26,444$24,925$23,493$22,146$20,877$18,022
7 years$22,438$20,932$19,523$18,207$16,978$14,255
8 years$19,435$17,942$16,557$15,274$14,085$11,493
9 years$17,101$15,622$14,261$13,010$11,862$9,398
10 years$15,234$13,770$12,433$11,214$10,107$7,770
11 years$13,708$12,259$10,946$9,760$8,692$6,479
12 years$12,437$11,003$9,714$8,561$7,533$5,440
13 years$11,363$9,943$8,679$7,558$6,569$4,592
14 years$10,443$9,038$7,798$6,709$5,758$3,895
15 years$9,646$8,256$7,040$5,983$5,070$3,316
16 years$8,949$7,575$6,383$5,357$4,481$2,831
17 years$8,335$6,976$5,808$4,814$3,973$2,424
18 years$7,790$6,447$5,302$4,338$3,532$2,080
19 years$7,303$5,975$4,854$3,920$3,149$1,788
20 years$6,865$5,552$4,455$3,550$2,812$1,540
21 years$6,470$5,171$4,098$3,222$2,517$1,328
22 years$6,110$4,827$3,777$2,929$2,256$1,146
23 years$5,783$4,515$3,487$2,668$2,025$990
24 years$5,483$4,230$3,225$2,433$1,820$857
25 years$5,208$3,970$2,987$2,222$1,638$741
26 years$4,954$3,731$2,770$2,032$1,475$642
27 years$4,720$3,511$2,572$1,860$1,330$556
28 years$4,502$3,309$2,391$1,704$1,200$482
29 years$4,300$3,121$2,225$1,563$1,084$418
30 years$4,112$2,948$2,073$1,434$979$363
31 years$3,936$2,787$1,932$1,317$885$315
32 years$3,772$2,637$1,803$1,210$801$273
33 years$3,618$2,497$1,683$1,113$725$237
34 years$3,473$2,367$1,573$1,024$656$206
35 years$3,337$2,245$1,471$943$594$179
36 years$3,208$2,131$1,376$868$538$156
37 years$3,087$2,023$1,288$800$488$135
38 years$2,973$1,923$1,206$737$442$117
39 years$2,864$1,829$1,130$680$401$102
40 years$2,762$1,740$1,059$627$364$89
41 years$2,664$1,656$993$579$330$77
42 years$2,572$1,577$931$534$300$67
43 years$2,484$1,503$874$493$272$58
44 years$2,400$1,432$820$455$247$51
45 years$2,320$1,366$770$420$224$44
46 years$2,244$1,303$723$388$203$38
47 years$2,172$1,244$680$359$185$33
48 years$2,102$1,187$639$331$168$29
49 years$2,036$1,134$600$306$152$25
50 years$1,972$1,083$564$283$138$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $2,020,000, adding $4,234 every year, while hoping to spend $27,097 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: 80/7/13 Blend
62$2,020,000$2,020,000$2,020,000$2,020,000
63$2,230,407$2,123,347$2,092,037$2,402,930
64$2,429,078$2,198,560$2,133,290$2,592,111
65$2,647,105$2,276,551$2,175,016$2,795,737
66$2,886,433$2,357,426$2,217,203$3,018,420
67$3,149,207$2,441,297$2,259,837$3,262,054
68$3,437,788$2,528,282$2,302,902$3,528,729
69$3,754,775$2,618,501$2,346,382$3,820,743
70$4,103,034$2,712,080$2,390,259$4,140,630
71$4,485,722$2,809,150$2,434,511$4,491,179
72$4,906,316$2,909,848$2,479,117$4,875,463
73$5,368,646$3,014,317$2,524,053$5,296,866
74$5,876,934$3,122,704$2,569,295$5,759,117
75$6,435,828$3,235,164$2,614,813$6,266,322
76$7,050,452$3,351,857$2,660,579$6,823,007
77$7,726,451$3,472,950$2,706,561$7,434,154
78$8,470,041$3,598,617$2,752,724$8,105,255
79$9,288,077$3,729,040$2,799,031$8,842,359
80$10,188,105$3,864,408$2,845,443$9,652,129
81$11,178,445$4,004,917$2,891,919$10,541,908
82$12,268,261$4,150,773$2,938,412$11,519,784
83$13,467,651$4,302,188$2,984,877$12,594,669
84$14,787,742$4,459,385$3,031,260$13,776,382
85$16,240,793$4,622,597$3,077,509$15,075,742
86$17,840,313$4,792,063$3,123,565$16,504,666
87$19,601,188$4,968,037$3,169,367$18,076,290
88$21,539,818$5,150,781$3,214,850$19,805,082
89$23,674,278$5,340,566$3,259,946$21,706,987
90$26,024,480$5,537,680$3,304,579$23,799,572
91$28,612,368$5,742,418$3,348,674$26,102,194
92$31,462,123$5,955,090$3,392,148$28,636,183
93$34,600,389$6,176,018$3,434,915$31,425,041
94$38,056,525$6,405,540$3,476,881$34,494,662
95$41,862,885$6,644,005$3,517,951$37,873,583
96$46,055,118$6,891,780$3,558,021$41,593,246
97$50,672,508$7,149,246$3,596,983$45,688,297
98$55,758,346$7,416,801$3,634,723$50,196,914
99$61,360,331$7,694,858$3,671,121$55,161,165
100$67,531,030$7,983,852$3,706,049$60,627,408