Can I retire at age 63 with 2,030,000?

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 $2,030,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$167,636$166,142$164,685$163,264$161,875$161,125
2 years$82,988$81,442$79,944$78,492$77,083$76,326
3 years$54,776$53,223$51,729$50,291$48,905$48,164
4 years$40,672$39,125$37,646$36,232$34,879$34,161
5 years$32,213$30,674$29,215$27,829$26,515$25,821
6 years$26,575$25,048$23,610$22,255$20,980$20,311
7 years$22,549$21,035$19,620$18,297$17,063$16,419
8 years$19,531$18,031$16,639$15,349$14,155$13,537
9 years$17,185$15,699$14,331$13,074$11,921$11,328
10 years$15,310$13,838$12,494$11,270$10,157$9,589
11 years$13,776$12,319$11,000$9,808$8,735$8,192
12 years$12,499$11,057$9,762$8,603$7,570$7,051
13 years$11,419$9,992$8,722$7,595$6,601$6,106
14 years$10,494$9,083$7,837$6,742$5,786$5,315
15 years$9,694$8,297$7,075$6,013$5,095$4,646
16 years$8,994$7,613$6,415$5,384$4,503$4,076
17 years$8,377$7,011$5,837$4,837$3,993$3,587
18 years$7,829$6,478$5,329$4,359$3,550$3,165
19 years$7,339$6,004$4,878$3,939$3,164$2,799
20 years$6,899$5,579$4,477$3,568$2,826$2,481
21 years$6,502$5,197$4,118$3,238$2,529$2,203
22 years$6,141$4,851$3,795$2,944$2,267$1,958
23 years$5,812$4,537$3,504$2,681$2,035$1,744
24 years$5,510$4,251$3,241$2,445$1,829$1,554
25 years$5,234$3,989$3,002$2,233$1,646$1,387
26 years$4,979$3,749$2,784$2,042$1,483$1,239
27 years$4,743$3,529$2,585$1,869$1,337$1,107
28 years$4,524$3,325$2,403$1,712$1,206$991
29 years$4,321$3,137$2,236$1,570$1,089$887
30 years$4,132$2,962$2,083$1,441$984$794
31 years$3,956$2,800$1,942$1,324$890$712
32 years$3,790$2,650$1,812$1,216$805$638
33 years$3,635$2,509$1,692$1,119$728$572
34 years$3,490$2,378$1,581$1,029$659$513
35 years$3,353$2,256$1,478$947$597$461
36 years$3,224$2,141$1,383$873$541$414
37 years$3,102$2,034$1,294$804$490$372
38 years$2,987$1,933$1,212$741$445$334
39 years$2,878$1,838$1,135$683$403$300
40 years$2,775$1,748$1,064$630$366$269
41 years$2,677$1,664$998$581$332$242
42 years$2,584$1,585$936$537$301$218
43 years$2,496$1,510$878$495$273$196
44 years$2,412$1,440$824$457$248$176
45 years$2,332$1,373$774$422$225$158
46 years$2,255$1,310$727$390$204$142
47 years$2,182$1,250$683$360$186$128
48 years$2,113$1,193$642$333$169$115
49 years$2,046$1,139$603$308$153$104
50 years$1,982$1,088$567$285$139$93

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $2,030,000, adding $6,107 every year, while hoping to spend $38,963 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: 57/33/10 Blend
62$2,030,000$2,030,000$2,030,000$2,030,000
63$2,243,359$2,135,769$2,104,304$2,365,474
64$2,430,726$2,198,966$2,133,342$2,511,752
65$2,635,898$2,263,953$2,162,047$2,666,194
66$2,860,650$2,330,777$2,190,366$2,833,534
67$3,106,937$2,399,487$2,218,245$3,015,011
68$3,376,913$2,470,130$2,245,624$3,211,989
69$3,672,948$2,542,756$2,272,443$3,425,968
70$3,997,654$2,617,416$2,298,634$3,658,599
71$4,353,906$2,694,161$2,324,130$3,911,699
72$4,744,874$2,773,044$2,348,858$4,187,271
73$5,174,047$2,854,119$2,372,741$4,487,515
74$5,645,269$2,937,441$2,395,697$4,814,859
75$6,162,776$3,023,064$2,417,642$5,171,972
76$6,731,231$3,111,046$2,438,484$5,561,795
77$7,355,773$3,201,445$2,458,131$5,987,566
78$8,042,065$3,294,318$2,476,481$6,452,851
79$8,796,343$3,389,727$2,493,430$6,961,579
80$9,625,478$3,487,731$2,508,868$7,518,075
81$10,537,039$3,588,393$2,522,678$8,127,103
82$11,539,367$3,691,774$2,534,738$8,793,911
83$12,641,651$3,797,939$2,544,919$9,524,280
84$13,854,013$3,906,952$2,553,088$10,324,578
85$15,187,608$4,018,879$2,559,102$11,201,818
86$16,654,725$4,133,785$2,562,813$12,163,728
87$18,268,905$4,251,738$2,564,065$13,218,820
88$20,045,066$4,372,805$2,562,694$14,376,473
89$21,999,646$4,497,056$2,558,528$15,647,018
90$24,150,758$4,624,560$2,551,387$17,041,838
91$26,518,358$4,755,387$2,541,081$18,573,473
92$29,124,437$4,889,607$2,527,414$20,255,740
93$31,993,224$5,027,292$2,510,176$22,103,862
94$35,151,417$5,168,514$2,489,152$24,134,613
95$38,628,435$5,313,344$2,464,111$26,366,472
96$42,456,693$5,461,856$2,434,817$28,819,802
97$46,671,910$5,614,121$2,401,018$31,517,038
98$51,313,446$5,770,214$2,362,452$34,482,904
99$56,424,669$5,930,206$2,318,847$37,744,637
100$62,053,371$6,094,172$2,269,913$41,332,252