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

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 $2,040,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.1%
1 years$168,461$166,961$165,497$164,068$162,672$157,339
2 years$83,397$81,843$80,338$78,879$77,463$72,141
3 years$55,046$53,486$51,984$50,538$49,146$44,002
4 years$40,873$39,318$37,831$36,410$35,051$30,124
5 years$32,371$30,825$29,359$27,966$26,645$21,949
6 years$26,705$25,171$23,726$22,365$21,084$16,622
7 years$22,660$21,139$19,716$18,387$17,147$12,919
8 years$19,627$18,120$16,721$15,425$14,225$10,228
9 years$17,270$15,777$14,402$13,138$11,979$8,208
10 years$15,385$13,906$12,556$11,326$10,207$6,656
11 years$13,844$12,380$11,054$9,857$8,778$5,441
12 years$12,560$11,112$9,810$8,646$7,607$4,476
13 years$11,475$10,042$8,765$7,633$6,634$3,701
14 years$10,546$9,128$7,875$6,775$5,815$3,073
15 years$9,741$8,338$7,110$6,043$5,120$2,559
16 years$9,038$7,650$6,446$5,410$4,525$2,138
17 years$8,418$7,045$5,866$4,861$4,012$1,790
18 years$7,867$6,510$5,355$4,381$3,567$1,501
19 years$7,376$6,034$4,902$3,959$3,180$1,261
20 years$6,933$5,607$4,499$3,585$2,840$1,060
21 years$6,534$5,223$4,138$3,254$2,542$893
22 years$6,171$4,875$3,814$2,958$2,278$752
23 years$5,840$4,560$3,522$2,694$2,045$634
24 years$5,538$4,272$3,257$2,457$1,838$535
25 years$5,259$4,009$3,016$2,244$1,654$452
26 years$5,003$3,768$2,798$2,052$1,490$382
27 years$4,766$3,546$2,598$1,878$1,343$323
28 years$4,547$3,341$2,415$1,721$1,212$273
29 years$4,343$3,152$2,247$1,578$1,094$231
30 years$4,153$2,977$2,093$1,448$989$195
31 years$3,975$2,814$1,952$1,330$894$165
32 years$3,809$2,663$1,821$1,222$809$140
33 years$3,653$2,522$1,700$1,124$732$118
34 years$3,507$2,390$1,589$1,034$663$100
35 years$3,370$2,267$1,485$952$600$85
36 years$3,240$2,152$1,389$877$544$72
37 years$3,118$2,044$1,300$808$493$61
38 years$3,002$1,942$1,218$745$447$51
39 years$2,893$1,847$1,141$687$405$43
40 years$2,789$1,757$1,069$633$368$37
41 years$2,691$1,673$1,003$584$333$31
42 years$2,597$1,593$941$539$303$26
43 years$2,508$1,518$883$498$275$22
44 years$2,424$1,447$828$460$249$19
45 years$2,343$1,380$778$424$226$16
46 years$2,266$1,316$731$392$205$14
47 years$2,193$1,256$686$362$187$11
48 years$2,123$1,199$645$335$169$10
49 years$2,056$1,145$606$309$154$8
50 years$1,992$1,094$570$286$140$7

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 $5,060 every year, while hoping to spend $54,420 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: 42/30/28 Blend
62$2,040,000$2,040,000$2,040,000$2,040,000
63$2,253,299$2,145,179$2,113,559$2,329,278
64$2,425,233$2,192,391$2,126,461$2,431,671
65$2,612,881$2,240,091$2,137,971$2,536,986
66$2,817,787$2,288,248$2,147,986$2,650,003
67$3,041,653$2,336,824$2,156,395$2,771,467
68$3,286,351$2,385,778$2,163,084$2,902,199
69$3,553,944$2,435,066$2,167,932$3,043,104
70$3,846,701$2,484,640$2,170,813$3,195,181
71$4,167,123$2,534,445$2,171,593$3,359,531
72$4,517,962$2,584,425$2,170,133$3,537,371
73$4,902,248$2,634,516$2,166,287$3,730,041
74$5,323,321$2,684,651$2,159,901$3,939,021
75$5,784,856$2,734,755$2,150,814$4,165,943
76$6,290,901$2,784,748$2,138,857$4,412,605
77$6,845,918$2,834,545$2,123,853$4,680,996
78$7,454,816$2,884,053$2,105,617$4,973,303
79$8,123,006$2,933,170$2,083,954$5,291,946
80$8,856,448$2,981,790$2,058,661$5,639,587
81$9,661,704$3,029,797$2,029,525$6,019,169
82$10,546,007$3,077,066$1,996,323$6,433,934
83$11,517,321$3,123,463$1,958,821$6,887,459
84$12,584,420$3,168,846$1,916,775$7,383,690
85$13,756,973$3,213,061$1,869,928$7,926,980
86$15,045,628$3,255,944$1,818,014$8,522,127
87$16,462,117$3,297,321$1,760,753$9,174,427
88$18,019,365$3,337,002$1,697,850$9,889,718
89$19,731,614$3,374,788$1,629,002$10,674,440
90$21,614,551$3,410,466$1,553,886$11,535,695
91$23,685,463$3,443,806$1,472,169$12,481,314
92$25,963,394$3,474,567$1,383,500$13,519,935
93$28,469,328$3,502,488$1,287,515$14,661,082
94$31,226,383$3,527,293$1,183,831$15,915,260
95$34,260,033$3,548,690$1,072,048$17,294,050
96$37,598,345$3,566,364$951,750$18,810,224
97$41,272,244$3,579,984$822,502$20,477,865
98$45,315,806$3,589,196$683,848$22,312,502
99$49,766,575$3,593,623$535,314$24,331,257
100$54,665,922$3,592,867$376,403$26,553,008