Can I retire at age 63 with 2,070,000?

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 $2,070,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.9%
1 years$170,939$169,416$167,930$166,481$165,065$161,074
2 years$84,623$83,047$81,520$80,039$78,602$74,606
3 years$55,855$54,272$52,749$51,282$49,868$45,991
4 years$41,474$39,896$38,387$36,945$35,567$31,838
5 years$32,847$31,279$29,790$28,378$27,037$23,468
6 years$27,098$25,541$24,075$22,694$21,394$17,987
7 years$22,993$21,450$20,006$18,658$17,399$14,156
8 years$19,916$18,386$16,967$15,652$14,434$11,353
9 years$17,524$16,009$14,614$13,332$12,155$9,234
10 years$15,611$14,111$12,741$11,492$10,357$7,592
11 years$14,047$12,562$11,217$10,002$8,907$6,294
12 years$12,745$11,275$9,954$8,773$7,719$5,254
13 years$11,644$10,189$8,894$7,745$6,731$4,409
14 years$10,701$9,262$7,991$6,875$5,900$3,716
15 years$9,885$8,461$7,215$6,131$5,195$3,144
16 years$9,171$7,763$6,541$5,490$4,592$2,668
17 years$8,542$7,149$5,952$4,933$4,071$2,269
18 years$7,983$6,606$5,434$4,445$3,620$1,934
19 years$7,484$6,122$4,974$4,017$3,226$1,652
20 years$7,035$5,689$4,565$3,638$2,882$1,413
21 years$6,630$5,299$4,199$3,302$2,579$1,210
22 years$6,262$4,947$3,870$3,002$2,312$1,037
23 years$5,926$4,627$3,573$2,734$2,075$890
24 years$5,619$4,335$3,305$2,494$1,865$764
25 years$5,337$4,068$3,061$2,277$1,678$657
26 years$5,077$3,823$2,839$2,082$1,512$565
27 years$4,836$3,598$2,636$1,906$1,363$486
28 years$4,614$3,391$2,451$1,746$1,230$418
29 years$4,407$3,199$2,280$1,601$1,111$360
30 years$4,214$3,021$2,124$1,470$1,003$310
31 years$4,034$2,856$1,980$1,350$907$267
32 years$3,865$2,702$1,848$1,240$821$230
33 years$3,707$2,559$1,725$1,141$743$198
34 years$3,559$2,425$1,612$1,050$672$171
35 years$3,419$2,300$1,507$966$609$147
36 years$3,288$2,183$1,410$890$552$127
37 years$3,164$2,074$1,320$820$500$109
38 years$3,046$1,971$1,236$756$453$94
39 years$2,935$1,874$1,158$697$411$81
40 years$2,830$1,783$1,085$643$373$70
41 years$2,730$1,697$1,017$593$338$61
42 years$2,635$1,616$954$547$307$52
43 years$2,545$1,540$896$505$279$45
44 years$2,459$1,468$841$466$253$39
45 years$2,378$1,400$789$431$230$34
46 years$2,300$1,335$741$398$208$29
47 years$2,225$1,274$697$368$189$25
48 years$2,154$1,217$655$340$172$22
49 years$2,086$1,162$615$314$156$19
50 years$2,021$1,110$578$290$142$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $2,070,000, adding $2,725 every year, while hoping to spend $30,383 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: 56/27/17 Blend
62$2,070,000$2,070,000$2,070,000$2,070,000
63$2,283,951$2,174,241$2,142,156$2,401,434
64$2,484,587$2,248,451$2,181,591$2,555,870
65$2,704,669$2,325,280$2,221,328$2,720,506
66$2,946,149$2,404,823$2,261,347$2,899,168
67$3,211,177$2,487,180$2,301,623$3,093,207
68$3,502,120$2,572,454$2,342,130$3,304,108
69$3,821,586$2,660,755$2,382,842$3,533,507
70$4,172,449$2,752,193$2,423,728$3,783,203
71$4,557,873$2,846,885$2,464,757$4,055,178
72$4,981,345$2,944,951$2,505,896$4,351,610
73$5,446,707$3,046,518$2,547,107$4,674,901
74$5,958,189$3,151,715$2,588,353$5,027,691
75$6,520,454$3,260,679$2,629,593$5,412,888
76$7,138,637$3,373,549$2,670,781$5,833,696
77$7,818,398$3,490,473$2,711,872$6,293,637
78$8,565,970$3,611,601$2,752,815$6,796,596
79$9,388,222$3,737,094$2,793,558$7,346,846
80$10,292,723$3,867,113$2,834,045$7,949,093
81$11,287,811$4,001,831$2,874,215$8,608,523
82$12,382,672$4,141,425$2,914,005$9,330,843
83$13,587,429$4,286,080$2,953,349$10,122,341
84$14,913,236$4,435,987$2,992,175$10,989,942
85$16,372,381$4,591,346$3,030,409$11,941,273
86$17,978,406$4,752,364$3,067,970$12,984,737
87$19,746,232$4,919,258$3,104,774$14,129,586
88$21,692,297$5,092,251$3,140,734$15,386,015
89$23,834,717$5,271,577$3,175,755$16,765,252
90$26,193,453$5,457,479$3,209,737$18,279,667
91$28,790,499$5,650,210$3,242,578$19,942,886
92$31,650,092$5,850,032$3,274,165$21,769,922
93$34,798,936$6,057,218$3,304,385$23,777,312
94$38,266,459$6,272,054$3,333,113$25,983,276
95$42,085,088$6,494,834$3,360,222$28,407,885
96$46,290,553$6,725,867$3,385,576$31,073,254
97$50,922,229$6,965,474$3,409,032$34,003,748
98$56,023,501$7,213,987$3,430,440$37,226,208
99$61,642,181$7,471,755$3,449,642$40,770,211
100$67,830,950$7,739,138$3,466,472$44,668,342