Can I retire at age 63 with 2,320,000?

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 $2,320,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$191,583$189,877$188,212$186,587$185,000$182,010
2 years$94,843$93,077$91,365$89,705$88,095$85,091
3 years$62,601$60,827$59,119$57,475$55,891$52,967
4 years$46,483$44,714$43,024$41,408$39,862$37,039
5 years$36,814$35,056$33,388$31,805$30,303$27,590
6 years$30,371$28,626$26,983$25,435$23,977$21,378
7 years$25,770$24,040$22,423$20,911$19,500$17,014
8 years$22,321$20,607$19,016$17,542$16,177$13,805
9 years$19,640$17,942$16,379$14,942$13,624$11,364
10 years$17,497$15,815$14,279$12,880$11,608$9,458
11 years$15,744$14,079$12,571$11,209$9,983$7,942
12 years$14,284$12,637$11,157$9,832$8,651$6,715
13 years$13,050$11,420$9,968$8,680$7,544$5,711
14 years$11,994$10,380$8,956$7,705$6,613$4,879
15 years$11,078$9,483$8,086$6,872$5,823$4,185
16 years$10,278$8,700$7,331$6,153$5,146$3,602
17 years$9,573$8,013$6,671$5,528$4,563$3,108
18 years$8,947$7,404$6,090$4,982$4,057$2,689
19 years$8,388$6,862$5,575$4,502$3,616$2,330
20 years$7,885$6,376$5,116$4,077$3,230$2,023
21 years$7,431$5,939$4,706$3,700$2,891$1,759
22 years$7,018$5,544$4,337$3,365$2,591$1,531
23 years$6,642$5,185$4,005$3,064$2,326$1,335
24 years$6,298$4,858$3,704$2,795$2,090$1,164
25 years$5,981$4,559$3,430$2,552$1,881$1,017
26 years$5,690$4,285$3,182$2,334$1,694$888
27 years$5,420$4,033$2,954$2,136$1,528$776
28 years$5,171$3,800$2,746$1,957$1,378$679
29 years$4,939$3,585$2,556$1,795$1,245$594
30 years$4,723$3,386$2,381$1,647$1,125$520
31 years$4,521$3,200$2,219$1,513$1,017$456
32 years$4,332$3,028$2,071$1,390$920$399
33 years$4,155$2,868$1,933$1,278$832$350
34 years$3,989$2,718$1,807$1,176$754$307
35 years$3,832$2,578$1,689$1,083$683$269
36 years$3,685$2,447$1,580$997$618$236
37 years$3,546$2,324$1,479$919$561$207
38 years$3,414$2,209$1,385$847$508$181
39 years$3,290$2,100$1,297$781$461$159
40 years$3,172$1,998$1,216$720$418$139
41 years$3,060$1,902$1,140$665$379$122
42 years$2,954$1,811$1,070$613$344$107
43 years$2,853$1,726$1,004$566$312$94
44 years$2,756$1,645$942$523$283$83
45 years$2,665$1,569$885$483$257$73
46 years$2,577$1,497$831$446$234$64
47 years$2,494$1,428$781$412$212$56
48 years$2,414$1,363$734$381$193$49
49 years$2,338$1,302$690$352$175$43
50 years$2,265$1,244$648$325$159$38

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $2,320,000, adding $5,579 every year, while hoping to spend $31,409 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: 63/15/22 Blend
62$2,320,000$2,320,000$2,320,000$2,320,000
63$2,562,395$2,439,435$2,403,475$2,708,837
64$2,790,340$2,525,548$2,450,572$2,894,443
65$3,040,483$2,614,828$2,498,195$3,093,066
66$3,315,055$2,707,397$2,546,327$3,309,286
67$3,616,513$2,803,382$2,594,951$3,544,823
68$3,947,564$2,902,915$2,644,049$3,801,575
69$4,311,191$3,006,133$2,693,600$4,081,629
70$4,710,679$3,113,180$2,743,582$4,387,282
71$5,149,646$3,224,204$2,793,970$4,721,066
72$5,632,080$3,339,360$2,844,738$5,085,767
73$6,162,374$3,458,810$2,895,858$5,484,454
74$6,745,365$3,582,721$2,947,299$5,920,505
75$7,386,386$3,711,268$2,999,027$6,397,642
76$8,091,311$3,844,633$3,051,008$6,919,964
77$8,866,611$3,983,006$3,103,202$7,491,984
78$9,719,415$4,126,584$3,155,570$8,118,676
79$10,657,581$4,275,572$3,208,067$8,805,514
80$11,689,763$4,430,184$3,260,646$9,558,533
81$12,825,499$4,590,643$3,313,258$10,384,376
82$14,075,297$4,757,181$3,365,849$11,290,364
83$15,450,734$4,930,040$3,418,361$12,284,559
84$16,964,568$5,109,471$3,470,736$13,375,845
85$18,630,855$5,295,737$3,522,907$14,574,008
86$20,465,085$5,489,111$3,574,807$15,889,827
87$22,484,324$5,689,877$3,626,363$17,335,181
88$24,707,376$5,898,333$3,677,498$18,923,155
89$27,154,964$6,114,787$3,728,129$20,668,163
90$29,849,921$6,339,561$3,778,172$22,586,090
91$32,817,405$6,572,992$3,827,532$24,694,436
92$36,085,140$6,815,428$3,876,115$27,012,479
93$39,683,676$7,067,236$3,923,816$29,561,464
94$43,646,674$7,328,794$3,970,528$32,364,797
95$48,011,229$7,600,499$4,016,135$35,448,267
96$52,818,216$7,882,765$4,060,516$38,840,288
97$58,112,675$8,176,022$4,103,545$42,572,171
98$63,944,240$8,480,718$4,145,085$46,678,414
99$70,367,603$8,797,324$4,184,996$51,197,028
100$77,443,031$9,126,326$4,223,126$56,169,900