Can I retire at age 63 with 2,300,000?

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 $2,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.8%
1 years$189,932$188,240$186,589$184,978$183,405$179,776
2 years$94,026$92,275$90,577$88,932$87,336$83,694
3 years$62,061$60,302$58,610$56,980$55,409$51,870
4 years$46,082$44,329$42,653$41,051$39,518$36,108
5 years$36,497$34,754$33,100$31,531$30,041$26,769
6 years$30,109$28,379$26,750$25,215$23,771$20,641
7 years$25,548$23,833$22,229$20,731$19,332$16,345
8 years$22,129$20,429$18,852$17,391$16,038$13,193
9 years$19,471$17,787$16,237$14,813$13,506$10,802
10 years$17,346$15,679$14,156$12,769$11,508$8,941
11 years$15,608$13,958$12,463$11,113$9,897$7,465
12 years$14,161$12,528$11,060$9,747$8,577$6,276
13 years$12,938$11,321$9,882$8,606$7,479$5,305
14 years$11,890$10,291$8,879$7,639$6,556$4,506
15 years$10,983$9,401$8,016$6,813$5,772$3,841
16 years$10,190$8,625$7,268$6,100$5,102$3,285
17 years$9,491$7,943$6,614$5,481$4,524$2,816
18 years$8,870$7,340$6,037$4,939$4,022$2,420
19 years$8,316$6,803$5,527$4,463$3,585$2,084
20 years$7,817$6,321$5,072$4,042$3,202$1,797
21 years$7,366$5,888$4,666$3,669$2,866$1,552
22 years$6,957$5,496$4,300$3,336$2,569$1,342
23 years$6,585$5,141$3,970$3,038$2,306$1,161
24 years$6,243$4,816$3,672$2,771$2,072$1,006
25 years$5,930$4,520$3,401$2,530$1,865$872
26 years$5,641$4,248$3,154$2,314$1,680$756
27 years$5,374$3,998$2,929$2,118$1,514$656
28 years$5,126$3,767$2,723$1,940$1,367$570
29 years$4,896$3,554$2,534$1,779$1,234$495
30 years$4,682$3,356$2,360$1,633$1,115$430
31 years$4,482$3,173$2,200$1,500$1,008$374
32 years$4,294$3,002$2,053$1,378$912$325
33 years$4,119$2,843$1,917$1,267$825$283
34 years$3,954$2,695$1,791$1,166$747$246
35 years$3,799$2,556$1,674$1,073$677$214
36 years$3,653$2,426$1,566$989$613$186
37 years$3,515$2,304$1,466$911$556$162
38 years$3,385$2,190$1,373$840$504$141
39 years$3,261$2,082$1,286$774$457$123
40 years$3,144$1,981$1,206$714$414$107
41 years$3,034$1,886$1,131$659$376$93
42 years$2,928$1,796$1,060$608$341$81
43 years$2,828$1,711$995$561$310$71
44 years$2,733$1,631$934$518$281$61
45 years$2,642$1,555$877$479$255$54
46 years$2,555$1,484$824$442$232$47
47 years$2,473$1,416$774$408$210$41
48 years$2,393$1,352$727$377$191$35
49 years$2,318$1,291$684$349$173$31
50 years$2,246$1,233$643$322$158$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $2,300,000, adding $4,802 every year, while hoping to spend $55,621 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: 31/46/23 Blend
62$2,300,000$2,300,000$2,300,000$2,300,000
63$2,539,553$2,417,653$2,382,003$2,600,084
64$2,739,407$2,476,938$2,402,620$2,705,834
65$2,957,782$2,537,263$2,422,063$2,814,282
66$3,196,509$2,598,622$2,440,235$2,929,882
67$3,457,602$2,661,004$2,457,032$3,053,294
68$3,743,280$2,724,396$2,472,346$3,185,243
69$4,055,988$2,788,784$2,486,062$3,326,531
70$4,398,415$2,854,150$2,498,061$3,478,040
71$4,773,523$2,920,474$2,508,217$3,640,741
72$5,184,577$2,987,732$2,516,396$3,815,707
73$5,635,169$3,055,896$2,522,461$4,004,120
74$6,129,257$3,124,935$2,526,264$4,207,281
75$6,671,200$3,194,816$2,527,652$4,426,627
76$7,265,799$3,265,498$2,526,465$4,663,741
77$7,918,342$3,336,940$2,522,534$4,920,369
78$8,634,655$3,409,092$2,515,681$5,198,436
79$9,421,154$3,481,902$2,505,720$5,500,064
80$10,284,908$3,555,311$2,492,458$5,827,593
81$11,233,702$3,629,255$2,475,689$6,183,604
82$12,276,115$3,703,664$2,455,200$6,570,944
83$13,421,597$3,778,461$2,430,767$6,992,750
84$14,680,557$3,853,563$2,402,155$7,452,482
85$16,064,464$3,928,878$2,369,118$7,953,956
86$17,585,955$4,004,308$2,331,398$8,501,381
87$19,258,949$4,079,746$2,288,727$9,099,396
88$21,098,785$4,155,077$2,240,822$9,753,119
89$23,122,359$4,230,174$2,187,388$10,468,191
90$25,348,291$4,304,903$2,128,117$11,250,835
91$27,797,092$4,379,119$2,062,684$12,107,911
92$30,491,364$4,452,664$1,990,752$13,046,985
93$33,456,009$4,525,371$1,911,969$14,076,399
94$36,718,465$4,597,058$1,825,963$15,205,350
95$40,308,966$4,667,531$1,732,350$16,443,983
96$44,260,822$4,736,581$1,630,725$17,803,480
97$48,610,737$4,803,985$1,520,666$19,296,174
98$53,399,157$4,869,505$1,401,733$20,935,659
99$58,670,644$4,932,884$1,273,464$22,736,929
100$64,474,304$4,993,849$1,135,379$24,716,511