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%11.6%
1 years$175,068$173,508$171,987$170,502$169,052$167,916
2 years$86,667$85,053$83,489$81,972$80,501$79,355
3 years$57,204$55,583$54,023$52,520$51,073$49,953
4 years$42,476$40,859$39,315$37,838$36,426$35,340
5 years$33,641$32,034$30,510$29,063$27,690$26,643
6 years$27,753$26,158$24,656$23,242$21,910$20,902
7 years$23,549$21,968$20,490$19,109$17,819$16,850
8 years$20,397$18,830$17,377$16,030$14,783$13,853
9 years$17,947$16,395$14,967$13,654$12,449$11,558
10 years$15,988$14,452$13,048$11,770$10,607$9,755
11 years$14,387$12,865$11,488$10,243$9,123$8,309
12 years$13,053$11,547$10,195$8,985$7,905$7,129
13 years$11,925$10,435$9,108$7,932$6,894$6,154
14 years$10,960$9,486$8,184$7,041$6,043$5,339
15 years$10,123$8,665$7,389$6,280$5,321$4,651
16 years$9,392$7,950$6,699$5,623$4,702$4,067
17 years$8,748$7,322$6,096$5,052$4,170$3,567
18 years$8,176$6,766$5,565$4,553$3,707$3,136
19 years$7,665$6,270$5,094$4,114$3,304$2,764
20 years$7,205$5,827$4,675$3,726$2,952$2,441
21 years$6,790$5,427$4,300$3,381$2,641$2,159
22 years$6,413$5,066$3,964$3,075$2,368$1,913
23 years$6,069$4,738$3,660$2,800$2,125$1,696
24 years$5,755$4,440$3,385$2,554$1,910$1,506
25 years$5,466$4,166$3,135$2,332$1,719$1,339
26 years$5,199$3,916$2,907$2,132$1,548$1,191
27 years$4,953$3,685$2,700$1,952$1,396$1,061
28 years$4,725$3,472$2,510$1,788$1,260$945
29 years$4,513$3,276$2,336$1,640$1,137$843
30 years$4,315$3,094$2,175$1,505$1,028$752
31 years$4,131$2,925$2,028$1,382$929$671
32 years$3,958$2,767$1,892$1,270$840$599
33 years$3,797$2,621$1,767$1,168$761$535
34 years$3,645$2,484$1,651$1,075$689$478
35 years$3,502$2,356$1,543$989$624$427
36 years$3,367$2,236$1,444$911$565$382
37 years$3,240$2,124$1,351$840$512$342
38 years$3,120$2,018$1,266$774$464$306
39 years$3,006$1,919$1,186$714$421$273
40 years$2,898$1,826$1,111$658$382$245
41 years$2,796$1,738$1,042$607$347$219
42 years$2,699$1,655$977$560$314$196
43 years$2,607$1,577$917$517$285$175
44 years$2,519$1,503$861$478$259$157
45 years$2,435$1,434$808$441$235$141
46 years$2,355$1,368$759$407$214$126
47 years$2,279$1,305$713$376$194$113
48 years$2,206$1,246$670$348$176$101
49 years$2,137$1,190$630$321$160$90
50 years$2,070$1,137$592$297$145$81

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 $4,962 every year, while hoping to spend $42,858 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: 51/38/11 Blend
62$2,120,000$2,120,000$2,120,000$2,120,000
63$2,341,358$2,228,998$2,196,138$2,453,701
64$2,534,576$2,292,619$2,224,108$2,594,603
65$2,746,066$2,357,920$2,251,579$2,742,725
66$2,977,646$2,424,939$2,278,488$2,902,762
67$3,231,319$2,493,714$2,304,771$3,075,848
68$3,509,290$2,564,283$2,330,357$3,263,229
69$3,813,988$2,636,683$2,355,174$3,466,278
70$4,148,088$2,710,954$2,379,146$3,686,504
71$4,514,536$2,787,133$2,402,190$3,925,570
72$4,916,576$2,865,261$2,424,221$4,185,306
73$5,357,784$2,945,376$2,445,150$4,467,725
74$5,842,097$3,027,518$2,464,881$4,775,046
75$6,373,850$3,111,725$2,483,314$5,109,710
76$6,957,822$3,198,039$2,500,344$5,474,406
77$7,599,275$3,286,498$2,515,860$5,872,096
78$8,304,006$3,377,142$2,529,747$6,306,040
79$9,078,403$3,470,010$2,541,882$6,779,830
80$9,929,500$3,565,141$2,552,135$7,297,421
81$10,865,051$3,662,574$2,560,373$7,863,169
82$11,893,594$3,762,348$2,566,453$8,481,875
83$13,024,538$3,864,500$2,570,227$9,158,824
84$14,268,248$3,969,069$2,571,537$9,899,839
85$15,636,147$4,076,090$2,570,221$10,711,335
86$17,140,816$4,185,601$2,566,105$11,600,378
87$18,796,119$4,297,635$2,559,010$12,574,756
88$20,617,332$4,412,228$2,548,745$13,643,044
89$22,621,285$4,529,412$2,535,113$14,814,692
90$24,826,522$4,649,219$2,517,906$16,100,113
91$27,253,476$4,771,680$2,496,904$17,510,776
92$29,924,660$4,896,822$2,471,881$19,059,321
93$32,864,883$5,024,674$2,442,596$20,759,675
94$36,101,477$5,155,259$2,408,799$22,627,179
95$39,664,562$5,288,600$2,370,228$24,678,743
96$43,587,324$5,424,719$2,326,608$26,932,993
97$47,906,333$5,563,632$2,277,651$29,410,459
98$52,661,884$5,705,355$2,223,057$32,133,757
99$57,898,377$5,849,899$2,162,511$35,127,813
100$63,664,740$5,997,272$2,095,683$38,420,089