Can I retire at age 63 with 2,120,000?

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 $2,120,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$175,068$173,508$171,987$170,502$169,052$167,495
2 years$86,667$85,053$83,489$81,972$80,501$78,933
3 years$57,204$55,583$54,023$52,520$51,073$49,542
4 years$42,476$40,859$39,315$37,838$36,426$34,943
5 years$33,641$32,034$30,510$29,063$27,690$26,261
6 years$27,753$26,158$24,656$23,242$21,910$20,536
7 years$23,549$21,968$20,490$19,109$17,819$16,500
8 years$20,397$18,830$17,377$16,030$14,783$13,519
9 years$17,947$16,395$14,967$13,654$12,449$11,240
10 years$15,988$14,452$13,048$11,770$10,607$9,453
11 years$14,387$12,865$11,488$10,243$9,123$8,021
12 years$13,053$11,547$10,195$8,985$7,905$6,857
13 years$11,925$10,435$9,108$7,932$6,894$5,896
14 years$10,960$9,486$8,184$7,041$6,043$5,095
15 years$10,123$8,665$7,389$6,280$5,321$4,421
16 years$9,392$7,950$6,699$5,623$4,702$3,850
17 years$8,748$7,322$6,096$5,052$4,170$3,362
18 years$8,176$6,766$5,565$4,553$3,707$2,944
19 years$7,665$6,270$5,094$4,114$3,304$2,583
20 years$7,205$5,827$4,675$3,726$2,952$2,271
21 years$6,790$5,427$4,300$3,381$2,641$2,000
22 years$6,413$5,066$3,964$3,075$2,368$1,764
23 years$6,069$4,738$3,660$2,800$2,125$1,557
24 years$5,755$4,440$3,385$2,554$1,910$1,377
25 years$5,466$4,166$3,135$2,332$1,719$1,218
26 years$5,199$3,916$2,907$2,132$1,548$1,079
27 years$4,953$3,685$2,700$1,952$1,396$956
28 years$4,725$3,472$2,510$1,788$1,260$848
29 years$4,513$3,276$2,336$1,640$1,137$752
30 years$4,315$3,094$2,175$1,505$1,028$668
31 years$4,131$2,925$2,028$1,382$929$593
32 years$3,958$2,767$1,892$1,270$840$527
33 years$3,797$2,621$1,767$1,168$761$468
34 years$3,645$2,484$1,651$1,075$689$416
35 years$3,502$2,356$1,543$989$624$370
36 years$3,367$2,236$1,444$911$565$329
37 years$3,240$2,124$1,351$840$512$293
38 years$3,120$2,018$1,266$774$464$261
39 years$3,006$1,919$1,186$714$421$232
40 years$2,898$1,826$1,111$658$382$207
41 years$2,796$1,738$1,042$607$347$184
42 years$2,699$1,655$977$560$314$164
43 years$2,607$1,577$917$517$285$146
44 years$2,519$1,503$861$478$259$130
45 years$2,435$1,434$808$441$235$116
46 years$2,355$1,368$759$407$214$103
47 years$2,279$1,305$713$376$194$92
48 years$2,206$1,246$670$348$176$82
49 years$2,137$1,190$630$321$160$73
50 years$2,070$1,137$592$297$145$65

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $2,120,000, adding $5,863 every year, while hoping to spend $22,737 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: 39/34/27 Blend
62$2,120,000$2,120,000$2,120,000$2,120,000
63$2,342,288$2,229,928$2,197,068$2,414,679
64$2,557,009$2,315,002$2,246,477$2,553,073
65$2,792,870$2,403,483$2,296,780$2,700,085
66$3,052,003$2,495,514$2,347,982$2,858,618
67$3,336,756$2,591,243$2,400,089$3,029,735
68$3,649,718$2,690,827$2,453,105$3,214,606
69$3,993,739$2,794,427$2,507,034$3,414,515
70$4,371,961$2,902,214$2,561,880$3,630,873
71$4,787,843$3,014,365$2,617,645$3,865,232
72$5,245,198$3,131,064$2,674,331$4,119,296
73$5,748,227$3,252,505$2,731,940$4,394,940
74$6,301,558$3,378,890$2,790,472$4,694,226
75$6,910,289$3,510,427$2,849,925$5,019,419
76$7,580,039$3,647,339$2,910,298$5,373,011
77$8,316,998$3,789,853$2,971,587$5,757,746
78$9,127,986$3,938,210$3,033,790$6,176,637
79$10,020,518$4,092,660$3,096,900$6,633,003
80$11,002,875$4,253,465$3,160,910$7,130,495
81$12,084,181$4,420,898$3,225,813$7,673,128
82$13,274,489$4,595,243$3,291,600$8,265,323
83$14,584,877$4,776,800$3,358,258$8,911,943
84$16,027,551$4,965,880$3,425,776$9,618,343
85$17,615,960$5,162,807$3,494,139$10,390,415
86$19,364,926$5,367,922$3,563,330$11,234,645
87$21,290,778$5,581,580$3,633,331$12,158,173
88$23,411,512$5,804,152$3,704,123$13,168,861
89$25,746,957$6,036,026$3,775,682$14,275,361
90$28,318,963$6,277,608$3,847,983$15,487,204
91$31,151,606$6,529,320$3,920,999$16,814,880
92$34,271,418$6,791,605$3,994,701$18,269,941
93$37,707,636$7,064,926$4,069,056$19,865,108
94$41,492,474$7,349,767$4,144,029$21,614,391
95$45,661,433$7,646,632$4,219,581$23,533,215
96$50,253,633$7,956,051$4,295,671$25,638,571
97$55,312,182$8,278,576$4,372,254$27,949,171
98$60,884,582$8,614,784$4,449,282$30,485,622
99$67,023,180$8,965,278$4,526,703$33,270,623
100$73,785,658$9,330,690$4,604,462$36,329,174