Can I retire at age 63 with 2,240,000?

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 $2,240,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$184,977$183,329$181,722$180,153$178,621$176,829
2 years$91,573$89,867$88,215$86,612$85,057$83,253
3 years$60,442$58,729$57,081$55,493$53,964$52,202
4 years$44,880$43,172$41,540$39,980$38,488$36,783
5 years$35,545$33,848$32,237$30,708$29,258$27,614
6 years$29,324$27,639$26,052$24,558$23,151$21,571
7 years$24,882$23,211$21,649$20,190$18,828$17,312
8 years$21,552$19,896$18,360$16,937$15,619$14,168
9 years$18,963$17,323$15,814$14,427$13,154$11,766
10 years$16,893$15,270$13,787$12,436$11,208$9,883
11 years$15,201$13,594$12,138$10,823$9,639$8,376
12 years$13,792$12,201$10,772$9,493$8,353$7,151
13 years$12,600$11,026$9,624$8,381$7,284$6,141
14 years$11,580$10,022$8,647$7,440$6,385$5,300
15 years$10,696$9,156$7,807$6,635$5,622$4,593
16 years$9,924$8,400$7,078$5,941$4,969$3,994
17 years$9,243$7,736$6,441$5,338$4,406$3,483
18 years$8,639$7,149$5,880$4,810$3,917$3,046
19 years$8,099$6,625$5,383$4,347$3,491$2,669
20 years$7,613$6,157$4,940$3,937$3,119$2,343
21 years$7,174$5,735$4,544$3,573$2,791$2,060
22 years$6,776$5,353$4,188$3,249$2,502$1,814
23 years$6,413$5,007$3,867$2,959$2,246$1,599
24 years$6,080$4,691$3,576$2,698$2,018$1,411
25 years$5,775$4,402$3,312$2,464$1,816$1,247
26 years$5,494$4,137$3,072$2,253$1,636$1,102
27 years$5,234$3,894$2,853$2,062$1,475$975
28 years$4,992$3,669$2,652$1,890$1,331$864
29 years$4,768$3,461$2,468$1,733$1,202$765
30 years$4,560$3,269$2,299$1,590$1,086$678
31 years$4,365$3,090$2,143$1,461$982$601
32 years$4,182$2,924$1,999$1,342$888$533
33 years$4,012$2,769$1,867$1,234$804$473
34 years$3,851$2,624$1,744$1,136$728$420
35 years$3,700$2,489$1,631$1,045$659$373
36 years$3,558$2,363$1,526$963$597$331
37 years$3,423$2,244$1,428$887$541$294
38 years$3,296$2,132$1,337$818$491$261
39 years$3,176$2,028$1,253$754$445$232
40 years$3,062$1,929$1,174$695$404$206
41 years$2,954$1,836$1,101$642$366$183
42 years$2,852$1,749$1,033$592$332$163
43 years$2,754$1,666$969$547$302$145
44 years$2,661$1,588$910$505$274$129
45 years$2,573$1,515$854$466$248$114
46 years$2,489$1,445$802$431$226$102
47 years$2,408$1,379$754$398$205$91
48 years$2,331$1,316$708$368$186$80
49 years$2,257$1,257$666$340$169$72
50 years$2,187$1,201$626$314$153$64

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $2,240,000, adding $3,891 every year, while hoping to spend $42,803 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: 69/24/7 Blend
62$2,240,000$2,240,000$2,240,000$2,240,000
63$2,472,494$2,353,774$2,319,054$2,640,054
64$2,679,146$2,423,566$2,351,200$2,821,271
65$2,905,442$2,495,345$2,382,988$3,013,834
66$3,153,341$2,569,160$2,414,362$3,223,310
67$3,424,999$2,645,066$2,445,260$3,451,348
68$3,722,791$2,723,117$2,475,619$3,699,763
69$4,049,335$2,803,369$2,505,371$3,970,553
70$4,407,511$2,885,877$2,534,445$4,265,920
71$4,800,492$2,970,701$2,562,764$4,588,285
72$5,231,775$3,057,898$2,590,250$4,940,317
73$5,705,211$3,147,530$2,616,818$5,324,951
74$6,225,041$3,239,657$2,642,379$5,745,422
75$6,795,937$3,334,342$2,666,841$6,205,293
76$7,423,046$3,431,648$2,690,104$6,708,486
77$8,112,040$3,531,642$2,712,065$7,259,322
78$8,869,163$3,634,388$2,732,615$7,862,559
79$9,701,299$3,739,954$2,751,639$8,523,439
80$10,616,028$3,848,409$2,769,016$9,247,735
81$11,621,704$3,959,821$2,784,618$10,041,808
82$12,727,528$4,074,262$2,798,313$10,912,662
83$13,943,638$4,191,804$2,809,959$11,868,015
84$15,281,206$4,312,519$2,819,409$12,916,368
85$16,752,538$4,436,482$2,826,509$14,067,087
86$18,371,195$4,563,767$2,831,095$15,330,491
87$20,152,116$4,694,451$2,832,996$16,717,946
88$22,111,764$4,828,611$2,832,033$18,241,977
89$24,268,276$4,966,325$2,828,018$19,916,381
90$26,641,637$5,107,672$2,820,754$21,756,361
91$29,253,868$5,252,732$2,810,033$23,778,665
92$32,129,232$5,401,586$2,795,639$26,001,749
93$35,294,465$5,554,314$2,777,344$28,445,945
94$38,779,025$5,711,000$2,754,909$31,133,656
95$42,615,373$5,871,726$2,728,086$34,089,570
96$46,839,276$6,036,576$2,696,612$37,340,884
97$51,490,147$6,205,633$2,660,213$40,917,568
98$56,611,414$6,378,982$2,618,603$44,852,647
99$62,250,933$6,556,707$2,571,481$49,182,507
100$68,461,436$6,738,892$2,518,532$53,947,244