Can I retire at age 63 with 2,060,000?

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 $2,060,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$170,113$168,598$167,119$165,676$164,267$161,347
2 years$84,214$82,646$81,126$79,652$78,223$75,290
3 years$55,585$54,010$52,494$51,034$49,628$46,775
4 years$41,273$39,703$38,202$36,767$35,395$32,643
5 years$32,689$31,128$29,646$28,241$26,907$24,264
6 years$26,967$25,418$23,959$22,584$21,290$18,760
7 years$22,882$21,346$19,910$18,568$17,315$14,898
8 years$19,820$18,298$16,885$15,576$14,364$12,060
9 years$17,439$15,931$14,543$13,267$12,097$9,903
10 years$15,536$14,043$12,679$11,437$10,307$8,223
11 years$13,980$12,501$11,162$9,953$8,864$6,887
12 years$12,684$11,221$9,906$8,730$7,682$5,808
13 years$11,588$10,140$8,851$7,708$6,699$4,927
14 years$10,649$9,217$7,952$6,842$5,872$4,198
15 years$9,837$8,420$7,180$6,102$5,170$3,591
16 years$9,127$7,725$6,510$5,463$4,569$3,082
17 years$8,501$7,115$5,924$4,909$4,052$2,652
18 years$7,945$6,574$5,407$4,424$3,602$2,287
19 years$7,448$6,093$4,950$3,997$3,211$1,977
20 years$7,001$5,662$4,543$3,620$2,868$1,711
21 years$6,598$5,274$4,179$3,286$2,567$1,483
22 years$6,231$4,923$3,851$2,987$2,301$1,287
23 years$5,897$4,604$3,556$2,721$2,065$1,118
24 years$5,592$4,314$3,289$2,481$1,856$973
25 years$5,311$4,048$3,046$2,266$1,670$846
26 years$5,052$3,805$2,825$2,072$1,505$737
27 years$4,813$3,581$2,623$1,897$1,356$642
28 years$4,591$3,374$2,439$1,738$1,224$560
29 years$4,385$3,183$2,269$1,594$1,105$488
30 years$4,193$3,006$2,114$1,462$999$426
31 years$4,014$2,842$1,971$1,343$903$372
32 years$3,846$2,689$1,839$1,234$817$325
33 years$3,689$2,546$1,717$1,135$739$284
34 years$3,542$2,413$1,604$1,044$669$248
35 years$3,403$2,289$1,500$961$606$217
36 years$3,272$2,173$1,403$885$549$189
37 years$3,148$2,064$1,313$816$498$165
38 years$3,032$1,961$1,230$752$451$145
39 years$2,921$1,865$1,152$693$409$126
40 years$2,816$1,774$1,080$640$371$110
41 years$2,717$1,689$1,013$590$337$97
42 years$2,623$1,608$950$545$306$84
43 years$2,533$1,533$891$503$277$74
44 years$2,448$1,461$837$464$252$65
45 years$2,366$1,393$786$429$228$57
46 years$2,289$1,329$738$396$207$49
47 years$2,215$1,268$693$366$188$43
48 years$2,144$1,211$651$338$171$38
49 years$2,076$1,156$612$312$155$33
50 years$2,011$1,104$576$289$141$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $2,060,000, adding $6,342 every year, while hoping to spend $55,592 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: 72/6/22 Blend
62$2,060,000$2,060,000$2,060,000$2,060,000
63$2,276,662$2,167,482$2,135,552$2,427,828
64$2,449,732$2,214,539$2,147,943$2,576,430
65$2,638,592$2,262,039$2,158,887$2,731,913
66$2,844,794$2,309,944$2,168,275$2,900,832
67$3,070,046$2,358,214$2,175,995$3,084,516
68$3,316,228$2,406,805$2,181,929$3,284,426
69$3,585,412$2,455,667$2,185,952$3,502,174
70$3,879,878$2,504,748$2,187,935$3,739,537
71$4,202,134$2,553,989$2,187,740$3,998,470
72$4,554,945$2,603,329$2,185,223$4,281,132
73$4,941,356$2,652,698$2,180,234$4,589,898
74$5,364,717$2,702,023$2,172,614$4,927,388
75$5,828,720$2,751,224$2,162,199$5,296,489
76$6,337,431$2,800,215$2,148,814$5,700,380
77$6,895,327$2,848,904$2,132,277$6,142,568
78$7,507,340$2,897,190$2,112,398$6,626,916
79$8,178,902$2,944,965$2,088,977$7,157,683
80$8,915,996$2,992,115$2,061,804$7,739,561
81$9,725,214$3,038,515$2,030,661$8,377,722
82$10,613,815$3,084,032$1,995,317$9,077,867
83$11,589,798$3,128,522$1,955,534$9,846,278
84$12,661,972$3,171,835$1,911,059$10,689,879
85$13,840,043$3,213,804$1,861,629$11,616,300
86$15,134,703$3,254,257$1,806,970$12,633,953
87$16,557,733$3,293,006$1,746,793$13,752,107
88$18,122,109$3,329,851$1,680,799$14,980,978
89$19,842,130$3,364,579$1,608,671$16,331,826
90$21,733,547$3,396,963$1,530,081$17,817,060
91$23,813,716$3,426,761$1,444,686$19,450,358
92$26,101,757$3,453,715$1,352,125$21,246,793
93$28,618,738$3,477,549$1,252,023$23,222,978
94$31,387,871$3,497,970$1,143,988$25,397,224
95$34,434,732$3,514,669$1,027,609$27,789,711
96$37,787,499$3,527,312$902,458$30,422,679
97$41,477,222$3,535,548$768,088$33,320,640
98$45,538,112$3,539,003$624,032$36,510,610
99$50,007,864$3,537,278$469,802$40,022,362
100$54,928,013$3,529,953$304,888$43,888,710