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%19.5%
1 years$168,461$166,961$165,497$164,068$162,672$156,465
2 years$83,397$81,843$80,338$78,879$77,463$71,283
3 years$55,046$53,486$51,984$50,538$49,146$43,186
4 years$40,873$39,318$37,831$36,410$35,051$29,358
5 years$32,371$30,825$29,359$27,966$26,645$21,234
6 years$26,705$25,171$23,726$22,365$21,084$15,957
7 years$22,660$21,139$19,716$18,387$17,147$12,303
8 years$19,627$18,120$16,721$15,425$14,225$9,660
9 years$17,270$15,777$14,402$13,138$11,979$7,686
10 years$15,385$13,906$12,556$11,326$10,207$6,178
11 years$13,844$12,380$11,054$9,857$8,778$5,005
12 years$12,560$11,112$9,810$8,646$7,607$4,079
13 years$11,475$10,042$8,765$7,633$6,634$3,340
14 years$10,546$9,128$7,875$6,775$5,815$2,746
15 years$9,741$8,338$7,110$6,043$5,120$2,265
16 years$9,038$7,650$6,446$5,410$4,525$1,873
17 years$8,418$7,045$5,866$4,861$4,012$1,551
18 years$7,867$6,510$5,355$4,381$3,567$1,288
19 years$7,376$6,034$4,902$3,959$3,180$1,070
20 years$6,933$5,607$4,499$3,585$2,840$890
21 years$6,534$5,223$4,138$3,254$2,542$742
22 years$6,171$4,875$3,814$2,958$2,278$618
23 years$5,840$4,560$3,522$2,694$2,045$516
24 years$5,538$4,272$3,257$2,457$1,838$430
25 years$5,259$4,009$3,016$2,244$1,654$359
26 years$5,003$3,768$2,798$2,052$1,490$300
27 years$4,766$3,546$2,598$1,878$1,343$251
28 years$4,547$3,341$2,415$1,721$1,212$209
29 years$4,343$3,152$2,247$1,578$1,094$175
30 years$4,153$2,977$2,093$1,448$989$146
31 years$3,975$2,814$1,952$1,330$894$122
32 years$3,809$2,663$1,821$1,222$809$102
33 years$3,653$2,522$1,700$1,124$732$86
34 years$3,507$2,390$1,589$1,034$663$72
35 years$3,370$2,267$1,485$952$600$60
36 years$3,240$2,152$1,389$877$544$50
37 years$3,118$2,044$1,300$808$493$42
38 years$3,002$1,942$1,218$745$447$35
39 years$2,893$1,847$1,141$687$405$29
40 years$2,789$1,757$1,069$633$368$25
41 years$2,691$1,673$1,003$584$333$21
42 years$2,597$1,593$941$539$303$17
43 years$2,508$1,518$883$498$275$14
44 years$2,424$1,447$828$460$249$12
45 years$2,343$1,380$778$424$226$10
46 years$2,266$1,316$731$392$205$8
47 years$2,193$1,256$686$362$187$7
48 years$2,123$1,199$645$335$169$6
49 years$2,056$1,145$606$309$154$5
50 years$1,992$1,094$570$286$140$4

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 $5,697 every year, while hoping to spend $51,451 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: 50/45/5 Blend
62$2,040,000$2,040,000$2,040,000$2,040,000
63$2,253,956$2,145,836$2,114,216$2,363,685
64$2,429,117$2,196,239$2,130,299$2,489,352
65$2,620,419$2,247,387$2,145,196$2,619,802
66$2,829,455$2,299,262$2,158,814$2,760,305
67$3,057,978$2,351,845$2,171,053$2,911,813
68$3,307,917$2,405,111$2,181,809$3,075,371
69$3,581,399$2,459,035$2,190,973$3,252,134
70$3,880,762$2,513,588$2,198,431$3,443,370
71$4,208,582$2,568,737$2,204,062$3,650,479
72$4,567,698$2,624,446$2,207,738$3,874,999
73$4,961,234$2,680,674$2,209,328$4,118,627
74$5,392,631$2,737,378$2,208,692$4,383,231
75$5,865,679$2,794,509$2,205,682$4,670,870
76$6,384,552$2,852,014$2,200,147$4,983,809
77$6,953,848$2,909,835$2,191,923$5,324,548
78$7,578,632$2,967,908$2,180,844$5,695,837
79$8,264,482$3,026,165$2,166,732$6,100,710
80$9,017,542$3,084,530$2,149,401$6,542,507
81$9,844,583$3,142,923$2,128,656$7,024,911
82$10,753,059$3,201,256$2,104,296$7,551,977
83$11,751,187$3,259,433$2,076,106$8,128,176
84$12,848,016$3,317,352$2,043,862$8,758,436
85$14,053,514$3,374,903$2,007,332$9,448,184
86$15,378,666$3,431,967$1,966,271$10,203,405
87$16,835,571$3,488,415$1,920,423$11,030,692
88$18,437,562$3,544,110$1,869,520$11,937,312
89$20,199,326$3,598,904$1,813,281$12,931,275
90$22,137,045$3,652,638$1,751,414$14,021,406
91$24,268,550$3,705,143$1,683,613$15,217,435
92$26,613,484$3,756,237$1,609,556$16,530,084
93$29,193,492$3,805,726$1,528,908$17,971,168
94$32,032,421$3,853,400$1,441,320$19,553,714
95$35,156,550$3,899,038$1,346,426$21,292,075
96$38,594,829$3,942,402$1,243,842$23,202,073
97$42,379,160$3,983,238$1,133,170$25,301,145
98$46,544,695$4,021,277$1,013,991$27,608,511
99$51,130,164$4,056,230$885,870$30,145,353
100$56,178,245$4,087,790$748,352$32,935,019