Can I retire at age 63 with 2,050,000?

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 $2,050,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$169,287$167,779$166,308$164,872$163,470$159,195
2 years$83,805$82,245$80,732$79,265$77,843$73,565
3 years$55,315$53,748$52,239$50,786$49,387$45,240
4 years$41,073$39,510$38,017$36,589$35,223$31,239
5 years$32,530$30,977$29,502$28,104$26,776$22,966
6 years$26,836$25,295$23,842$22,475$21,187$17,555
7 years$22,771$21,242$19,813$18,478$17,231$13,776
8 years$19,724$18,209$16,803$15,500$14,294$11,016
9 years$17,355$15,854$14,472$13,203$12,038$8,933
10 years$15,460$13,974$12,617$11,381$10,257$7,322
11 years$13,912$12,441$11,108$9,905$8,821$6,051
12 years$12,622$11,166$9,858$8,688$7,644$5,034
13 years$11,532$10,091$8,808$7,670$6,666$4,210
14 years$10,598$9,172$7,914$6,809$5,843$3,537
15 years$9,789$8,379$7,145$6,072$5,145$2,982
16 years$9,082$7,688$6,478$5,437$4,547$2,521
17 years$8,459$7,080$5,895$4,885$4,032$2,137
18 years$7,906$6,542$5,381$4,402$3,585$1,815
19 years$7,412$6,063$4,926$3,978$3,195$1,544
20 years$6,967$5,634$4,521$3,603$2,854$1,315
21 years$6,566$5,248$4,158$3,270$2,554$1,122
22 years$6,201$4,899$3,833$2,973$2,289$958
23 years$5,869$4,582$3,539$2,708$2,055$819
24 years$5,565$4,293$3,273$2,469$1,847$700
25 years$5,285$4,029$3,031$2,255$1,662$600
26 years$5,028$3,786$2,811$2,062$1,497$513
27 years$4,790$3,563$2,611$1,887$1,350$440
28 years$4,569$3,358$2,427$1,729$1,218$377
29 years$4,364$3,168$2,258$1,586$1,100$323
30 years$4,173$2,992$2,104$1,455$994$277
31 years$3,995$2,828$1,961$1,337$898$238
32 years$3,828$2,676$1,830$1,228$813$204
33 years$3,671$2,534$1,708$1,130$736$175
34 years$3,524$2,402$1,596$1,039$666$150
35 years$3,386$2,278$1,492$957$603$129
36 years$3,256$2,162$1,396$881$546$111
37 years$3,133$2,054$1,307$812$495$95
38 years$3,017$1,952$1,224$748$449$82
39 years$2,907$1,856$1,146$690$407$70
40 years$2,803$1,766$1,075$636$369$60
41 years$2,704$1,681$1,008$587$335$52
42 years$2,610$1,601$945$542$304$44
43 years$2,521$1,525$887$500$276$38
44 years$2,436$1,454$833$462$250$33
45 years$2,355$1,386$782$427$227$28
46 years$2,277$1,322$734$394$206$24
47 years$2,204$1,262$690$364$187$21
48 years$2,133$1,205$648$336$170$18
49 years$2,066$1,150$609$311$155$15
50 years$2,002$1,099$573$287$140$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $2,050,000, adding $6,219 every year, while hoping to spend $38,805 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: 76/15/9 Blend
62$2,050,000$2,050,000$2,050,000$2,050,000
63$2,265,515$2,156,865$2,125,090$2,433,898
64$2,455,309$2,221,263$2,154,992$2,609,962
65$2,663,162$2,287,516$2,184,596$2,797,335
66$2,890,874$2,355,674$2,213,849$3,001,612
67$3,140,429$2,425,788$2,242,699$3,224,457
68$3,414,011$2,497,910$2,271,088$3,467,702
69$3,714,027$2,572,094$2,298,955$3,733,365
70$4,043,125$2,648,394$2,326,238$4,023,668
71$4,404,224$2,726,866$2,352,868$4,341,059
72$4,800,540$2,807,567$2,378,773$4,688,231
73$5,235,613$2,890,556$2,403,880$5,068,153
74$5,713,344$2,975,892$2,428,109$5,484,095
75$6,238,030$3,063,636$2,451,376$5,939,657
76$6,814,405$3,153,850$2,473,593$6,438,805
77$7,447,684$3,246,597$2,494,667$6,985,908
78$8,143,610$3,341,943$2,514,501$7,585,779
79$8,908,513$3,439,953$2,532,991$8,243,718
80$9,749,365$3,540,694$2,550,030$8,965,567
81$10,673,848$3,644,236$2,565,504$9,757,759
82$11,690,424$3,750,647$2,579,292$10,627,383
83$12,808,418$3,860,000$2,591,270$11,582,246
84$14,038,104$3,972,367$2,601,304$12,630,952
85$15,390,798$4,087,821$2,609,256$13,782,980
86$16,878,974$4,206,438$2,614,979$15,048,772
87$18,516,369$4,328,294$2,618,322$16,439,835
88$20,318,126$4,453,467$2,619,122$17,968,845
89$22,300,923$4,582,035$2,617,211$19,649,771
90$24,483,142$4,714,079$2,612,412$21,498,002
91$26,885,034$4,849,681$2,604,540$23,530,495
92$29,528,914$4,988,922$2,593,399$25,765,935
93$32,439,371$5,131,887$2,578,785$28,224,910
94$35,643,497$5,278,660$2,560,485$30,930,103
95$39,171,147$5,429,327$2,538,274$33,906,511
96$43,055,215$5,583,975$2,511,917$37,181,677
97$47,331,949$5,742,692$2,481,169$40,785,950
98$52,041,291$5,905,568$2,445,771$44,752,773
99$57,227,253$6,072,690$2,405,455$49,118,994
100$62,938,332$6,244,151$2,359,936$53,925,220