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

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 $2,120,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.4%
1 years$175,068$173,508$171,987$170,502$169,052$163,969
2 years$86,667$85,053$83,489$81,972$80,501$75,423
3 years$57,204$55,583$54,023$52,520$51,073$46,159
4 years$42,476$40,859$39,315$37,838$36,426$31,713
5 years$33,641$32,034$30,510$29,063$27,690$23,192
6 years$27,753$26,158$24,656$23,242$21,910$17,631
7 years$23,549$21,968$20,490$19,109$17,819$13,758
8 years$20,397$18,830$17,377$16,030$14,783$10,937
9 years$17,947$16,395$14,967$13,654$12,449$8,815
10 years$15,988$14,452$13,048$11,770$10,607$7,180
11 years$14,387$12,865$11,488$10,243$9,123$5,896
12 years$13,053$11,547$10,195$8,985$7,905$4,873
13 years$11,925$10,435$9,108$7,932$6,894$4,048
14 years$10,960$9,486$8,184$7,041$6,043$3,377
15 years$10,123$8,665$7,389$6,280$5,321$2,827
16 years$9,392$7,950$6,699$5,623$4,702$2,373
17 years$8,748$7,322$6,096$5,052$4,170$1,997
18 years$8,176$6,766$5,565$4,553$3,707$1,683
19 years$7,665$6,270$5,094$4,114$3,304$1,421
20 years$7,205$5,827$4,675$3,726$2,952$1,202
21 years$6,790$5,427$4,300$3,381$2,641$1,017
22 years$6,413$5,066$3,964$3,075$2,368$862
23 years$6,069$4,738$3,660$2,800$2,125$731
24 years$5,755$4,440$3,385$2,554$1,910$620
25 years$5,466$4,166$3,135$2,332$1,719$527
26 years$5,199$3,916$2,907$2,132$1,548$447
27 years$4,953$3,685$2,700$1,952$1,396$380
28 years$4,725$3,472$2,510$1,788$1,260$323
29 years$4,513$3,276$2,336$1,640$1,137$275
30 years$4,315$3,094$2,175$1,505$1,028$234
31 years$4,131$2,925$2,028$1,382$929$199
32 years$3,958$2,767$1,892$1,270$840$169
33 years$3,797$2,621$1,767$1,168$761$144
34 years$3,645$2,484$1,651$1,075$689$123
35 years$3,502$2,356$1,543$989$624$104
36 years$3,367$2,236$1,444$911$565$89
37 years$3,240$2,124$1,351$840$512$76
38 years$3,120$2,018$1,266$774$464$64
39 years$3,006$1,919$1,186$714$421$55
40 years$2,898$1,826$1,111$658$382$47
41 years$2,796$1,738$1,042$607$347$40
42 years$2,699$1,655$977$560$314$34
43 years$2,607$1,577$917$517$285$29
44 years$2,519$1,503$861$478$259$25
45 years$2,435$1,434$808$441$235$21
46 years$2,355$1,368$759$407$214$18
47 years$2,279$1,305$713$376$194$15
48 years$2,206$1,246$670$348$176$13
49 years$2,137$1,190$630$321$160$11
50 years$2,070$1,137$592$297$145$9

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 $2,513 every year, while hoping to spend $59,353 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: 44/49/7 Blend
62$2,120,000$2,120,000$2,120,000$2,120,000
63$2,338,832$2,226,472$2,193,612$2,436,994
64$2,514,242$2,272,418$2,203,947$2,551,094
65$2,705,554$2,318,626$2,212,639$2,668,380
66$2,914,328$2,365,047$2,219,570$2,794,118
67$3,142,281$2,411,625$2,224,617$2,929,106
68$3,391,302$2,458,303$2,227,649$3,074,218
69$3,663,470$2,505,015$2,228,531$3,230,423
70$3,961,077$2,551,694$2,227,120$3,398,783
71$4,286,644$2,598,264$2,223,266$3,580,473
72$4,642,947$2,644,644$2,216,810$3,776,786
73$5,033,043$2,690,747$2,207,589$3,989,148
74$5,460,300$2,736,480$2,195,429$4,219,131
75$5,928,424$2,781,741$2,180,150$4,468,467
76$6,441,498$2,826,422$2,161,560$4,739,068
77$7,004,020$2,870,406$2,139,462$5,033,039
78$7,620,943$2,913,568$2,113,646$5,352,702
79$8,297,720$2,955,774$2,083,894$5,700,619
80$9,040,361$2,996,881$2,049,978$6,079,612
81$9,855,485$3,036,734$2,011,659$6,492,794
82$10,750,380$3,075,170$1,968,686$6,943,599
83$11,733,078$3,112,013$1,920,796$7,435,810
84$12,812,426$3,147,075$1,867,716$7,973,602
85$13,998,168$3,180,157$1,809,160$8,561,576
86$15,301,040$3,211,043$1,744,826$9,204,806
87$16,732,870$3,239,508$1,674,401$9,908,889
88$18,306,687$3,265,308$1,597,557$10,679,992
89$20,036,845$3,288,185$1,513,952$11,524,920
90$21,939,161$3,307,863$1,423,226$12,451,174
91$24,031,057$3,324,050$1,325,006$13,467,024
92$26,331,730$3,336,434$1,218,900$14,581,591
93$28,862,332$3,344,684$1,104,498$15,804,932
94$31,646,165$3,348,449$981,374$17,148,133
95$34,708,905$3,347,355$849,082$18,623,420
96$38,078,842$3,341,004$707,155$20,244,274
97$41,787,146$3,328,975$555,106$22,025,556
98$45,868,161$3,310,821$392,429$23,983,652
99$50,359,730$3,286,067$218,591$26,136,631
100$55,303,549$3,254,211$33,040$28,504,411