Can I retire at age 63 with 2,040,000?

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 $2,040,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$168,461$166,961$165,497$164,068$162,672$160,043
2 years$83,397$81,843$80,338$78,879$77,463$74,822
3 years$55,046$53,486$51,984$50,538$49,146$46,574
4 years$40,873$39,318$37,831$36,410$35,051$32,569
5 years$32,371$30,825$29,359$27,966$26,645$24,260
6 years$26,705$25,171$23,726$22,365$21,084$18,798
7 years$22,660$21,139$19,716$18,387$17,147$14,961
8 years$19,627$18,120$16,721$15,425$14,225$12,139
9 years$17,270$15,777$14,402$13,138$11,979$9,992
10 years$15,385$13,906$12,556$11,326$10,207$8,317
11 years$13,844$12,380$11,054$9,857$8,778$6,983
12 years$12,560$11,112$9,810$8,646$7,607$5,905
13 years$11,475$10,042$8,765$7,633$6,634$5,022
14 years$10,546$9,128$7,875$6,775$5,815$4,291
15 years$9,741$8,338$7,110$6,043$5,120$3,680
16 years$9,038$7,650$6,446$5,410$4,525$3,167
17 years$8,418$7,045$5,866$4,861$4,012$2,733
18 years$7,867$6,510$5,355$4,381$3,567$2,364
19 years$7,376$6,034$4,902$3,959$3,180$2,049
20 years$6,933$5,607$4,499$3,585$2,840$1,779
21 years$6,534$5,223$4,138$3,254$2,542$1,547
22 years$6,171$4,875$3,814$2,958$2,278$1,347
23 years$5,840$4,560$3,522$2,694$2,045$1,174
24 years$5,538$4,272$3,257$2,457$1,838$1,024
25 years$5,259$4,009$3,016$2,244$1,654$894
26 years$5,003$3,768$2,798$2,052$1,490$781
27 years$4,766$3,546$2,598$1,878$1,343$683
28 years$4,547$3,341$2,415$1,721$1,212$597
29 years$4,343$3,152$2,247$1,578$1,094$523
30 years$4,153$2,977$2,093$1,448$989$457
31 years$3,975$2,814$1,952$1,330$894$401
32 years$3,809$2,663$1,821$1,222$809$351
33 years$3,653$2,522$1,700$1,124$732$308
34 years$3,507$2,390$1,589$1,034$663$270
35 years$3,370$2,267$1,485$952$600$236
36 years$3,240$2,152$1,389$877$544$207
37 years$3,118$2,044$1,300$808$493$182
38 years$3,002$1,942$1,218$745$447$159
39 years$2,893$1,847$1,141$687$405$140
40 years$2,789$1,757$1,069$633$368$123
41 years$2,691$1,673$1,003$584$333$108
42 years$2,597$1,593$941$539$303$94
43 years$2,508$1,518$883$498$275$83
44 years$2,424$1,447$828$460$249$73
45 years$2,343$1,380$778$424$226$64
46 years$2,266$1,316$731$392$205$56
47 years$2,193$1,256$686$362$187$49
48 years$2,123$1,199$645$335$169$43
49 years$2,056$1,145$606$309$154$38
50 years$1,992$1,094$570$286$140$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $2,040,000, adding $2,644 every year, while hoping to spend $36,290 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: 31/42/27 Blend
62$2,040,000$2,040,000$2,040,000$2,040,000
63$2,250,807$2,142,687$2,111,067$2,301,862
64$2,441,777$2,209,067$2,143,176$2,407,838
65$2,651,010$2,277,482$2,175,144$2,518,453
66$2,880,330$2,347,996$2,206,928$2,636,807
67$3,131,746$2,420,670$2,238,483$2,763,599
68$3,407,472$2,495,571$2,269,760$2,899,602
69$3,709,945$2,572,765$2,300,707$3,045,663
70$4,041,850$2,652,321$2,331,272$3,202,715
71$4,406,145$2,734,310$2,361,395$3,371,783
72$4,806,086$2,818,806$2,391,016$3,553,996
73$5,245,262$2,905,883$2,420,070$3,750,595
74$5,727,626$2,995,619$2,448,490$3,962,945
75$6,257,533$3,088,093$2,476,204$4,192,549
76$6,839,780$3,183,388$2,503,135$4,441,061
77$7,479,651$3,281,588$2,529,204$4,710,301
78$8,182,969$3,382,779$2,554,325$5,002,273
79$8,956,148$3,487,051$2,578,411$5,319,182
80$9,806,254$3,594,495$2,601,367$5,663,458
81$10,741,073$3,705,207$2,623,094$6,037,773
82$11,769,183$3,819,282$2,643,488$6,445,073
83$12,900,034$3,936,822$2,662,440$6,888,598
84$14,144,040$4,057,929$2,679,834$7,371,921
85$15,512,673$4,182,708$2,695,549$7,898,972
86$17,018,574$4,311,269$2,709,458$8,474,083
87$18,675,670$4,443,722$2,721,426$9,102,024
88$20,499,307$4,580,184$2,731,313$9,788,048
89$22,506,396$4,720,772$2,738,972$10,537,944
90$24,715,566$4,865,608$2,744,245$11,358,086
91$27,147,348$5,014,817$2,746,971$12,255,497
92$29,824,361$5,168,527$2,746,979$13,237,914
93$32,771,531$5,326,870$2,744,088$14,313,860
94$36,016,323$5,489,982$2,738,110$15,492,725
95$39,589,000$5,658,003$2,728,849$16,784,853
96$43,522,908$5,831,075$2,716,095$18,201,644
97$47,854,794$6,009,347$2,699,634$19,755,653
98$52,625,147$6,192,969$2,679,236$21,460,717
99$57,878,585$6,382,098$2,654,663$23,332,079
100$63,664,273$6,576,893$2,625,666$25,386,538