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%14.3%
1 years$175,068$173,508$171,987$170,502$169,052$166,046
2 years$86,667$85,053$83,489$81,972$80,501$77,483
3 years$57,204$55,583$54,023$52,520$51,073$48,137
4 years$42,476$40,859$39,315$37,838$36,426$33,594
5 years$33,641$32,034$30,510$29,063$27,690$24,971
6 years$27,753$26,158$24,656$23,242$21,910$19,307
7 years$23,549$21,968$20,490$19,109$17,819$15,332
8 years$20,397$18,830$17,377$16,030$14,783$12,411
9 years$17,947$16,395$14,967$13,654$12,449$10,192
10 years$15,988$14,452$13,048$11,770$10,607$8,462
11 years$14,387$12,865$11,488$10,243$9,123$7,088
12 years$13,053$11,547$10,195$8,985$7,905$5,978
13 years$11,925$10,435$9,108$7,932$6,894$5,070
14 years$10,960$9,486$8,184$7,041$6,043$4,320
15 years$10,123$8,665$7,389$6,280$5,321$3,696
16 years$9,392$7,950$6,699$5,623$4,702$3,172
17 years$8,748$7,322$6,096$5,052$4,170$2,729
18 years$8,176$6,766$5,565$4,553$3,707$2,354
19 years$7,665$6,270$5,094$4,114$3,304$2,034
20 years$7,205$5,827$4,675$3,726$2,952$1,761
21 years$6,790$5,427$4,300$3,381$2,641$1,526
22 years$6,413$5,066$3,964$3,075$2,368$1,325
23 years$6,069$4,738$3,660$2,800$2,125$1,151
24 years$5,755$4,440$3,385$2,554$1,910$1,001
25 years$5,466$4,166$3,135$2,332$1,719$871
26 years$5,199$3,916$2,907$2,132$1,548$759
27 years$4,953$3,685$2,700$1,952$1,396$661
28 years$4,725$3,472$2,510$1,788$1,260$576
29 years$4,513$3,276$2,336$1,640$1,137$503
30 years$4,315$3,094$2,175$1,505$1,028$439
31 years$4,131$2,925$2,028$1,382$929$383
32 years$3,958$2,767$1,892$1,270$840$334
33 years$3,797$2,621$1,767$1,168$761$292
34 years$3,645$2,484$1,651$1,075$689$255
35 years$3,502$2,356$1,543$989$624$223
36 years$3,367$2,236$1,444$911$565$195
37 years$3,240$2,124$1,351$840$512$170
38 years$3,120$2,018$1,266$774$464$149
39 years$3,006$1,919$1,186$714$421$130
40 years$2,898$1,826$1,111$658$382$114
41 years$2,796$1,738$1,042$607$347$99
42 years$2,699$1,655$977$560$314$87
43 years$2,607$1,577$917$517$285$76
44 years$2,519$1,503$861$478$259$66
45 years$2,435$1,434$808$441$235$58
46 years$2,355$1,368$759$407$214$51
47 years$2,279$1,305$713$376$194$44
48 years$2,206$1,246$670$348$176$39
49 years$2,137$1,190$630$321$160$34
50 years$2,070$1,137$592$297$145$30

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 $4,365 every year, while hoping to spend $29,490 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: 54/27/19 Blend
62$2,120,000$2,120,000$2,120,000$2,120,000
63$2,340,742$2,228,382$2,195,522$2,454,861
64$2,548,121$2,306,196$2,237,695$2,611,268
65$2,775,664$2,386,834$2,280,293$2,777,952
66$3,025,397$2,470,404$2,323,297$2,958,753
67$3,299,550$2,557,017$2,366,691$3,155,027
68$3,600,583$2,646,790$2,410,454$3,368,267
69$3,931,202$2,739,842$2,454,564$3,600,112
70$4,294,390$2,836,300$2,498,997$3,852,369
71$4,693,433$2,936,293$2,543,729$4,127,025
72$5,131,950$3,039,959$2,588,730$4,426,268
73$5,613,930$3,147,437$2,633,973$4,752,503
74$6,143,764$3,258,875$2,679,425$5,108,383
75$6,726,294$3,374,426$2,725,051$5,496,822
76$7,366,851$3,494,248$2,770,816$5,921,033
77$8,071,312$3,618,508$2,816,680$6,384,550
78$8,846,148$3,747,377$2,862,601$6,891,267
79$9,698,492$3,881,035$2,908,535$7,445,470
80$10,636,201$4,019,669$2,954,434$8,051,877
81$11,667,933$4,163,472$3,000,247$8,715,687
82$12,803,226$4,312,647$3,045,920$9,442,622
83$14,052,593$4,467,404$3,091,396$10,238,986
84$15,427,613$4,627,963$3,136,613$11,111,720
85$16,941,048$4,794,551$3,181,508$12,068,470
86$18,606,957$4,967,406$3,226,010$13,117,658
87$20,440,833$5,146,776$3,270,049$14,268,557
88$22,459,748$5,332,917$3,313,545$15,531,386
89$24,682,511$5,526,099$3,356,418$16,917,397
90$27,129,850$5,726,601$3,398,581$18,438,987
91$29,824,604$5,934,714$3,439,942$20,109,812
92$32,791,940$6,150,741$3,480,406$21,944,916
93$36,059,588$6,374,997$3,519,870$23,960,869
94$39,658,107$6,607,813$3,558,227$26,175,930
95$43,621,169$6,849,531$3,595,362$28,610,209
96$47,985,878$7,100,507$3,631,157$31,285,866
97$52,793,120$7,361,116$3,665,483$34,227,312
98$58,087,951$7,631,743$3,698,210$37,461,441
99$63,920,018$7,912,794$3,729,195$41,017,886
100$70,344,029$8,204,690$3,758,293$44,929,292