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

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 $2,320,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$191,583$189,877$188,212$186,587$185,000$180,674
2 years$94,843$93,077$91,365$89,705$88,095$83,762
3 years$62,601$60,827$59,119$57,475$55,891$51,686
4 years$46,483$44,714$43,024$41,408$39,862$35,816
5 years$36,814$35,056$33,388$31,805$30,303$26,428
6 years$30,371$28,626$26,983$25,435$23,977$20,278
7 years$25,770$24,040$22,423$20,911$19,500$15,977
8 years$22,321$20,607$19,016$17,542$16,177$12,828
9 years$19,640$17,942$16,379$14,942$13,624$10,446
10 years$17,497$15,815$14,279$12,880$11,608$8,599
11 years$15,744$14,079$12,571$11,209$9,983$7,139
12 years$14,284$12,637$11,157$9,832$8,651$5,966
13 years$13,050$11,420$9,968$8,680$7,544$5,014
14 years$11,994$10,380$8,956$7,705$6,613$4,232
15 years$11,078$9,483$8,086$6,872$5,823$3,585
16 years$10,278$8,700$7,331$6,153$5,146$3,046
17 years$9,573$8,013$6,671$5,528$4,563$2,595
18 years$8,947$7,404$6,090$4,982$4,057$2,215
19 years$8,388$6,862$5,575$4,502$3,616$1,895
20 years$7,885$6,376$5,116$4,077$3,230$1,623
21 years$7,431$5,939$4,706$3,700$2,891$1,392
22 years$7,018$5,544$4,337$3,365$2,591$1,195
23 years$6,642$5,185$4,005$3,064$2,326$1,027
24 years$6,298$4,858$3,704$2,795$2,090$883
25 years$5,981$4,559$3,430$2,552$1,881$760
26 years$5,690$4,285$3,182$2,334$1,694$655
27 years$5,420$4,033$2,954$2,136$1,528$564
28 years$5,171$3,800$2,746$1,957$1,378$486
29 years$4,939$3,585$2,556$1,795$1,245$419
30 years$4,723$3,386$2,381$1,647$1,125$362
31 years$4,521$3,200$2,219$1,513$1,017$312
32 years$4,332$3,028$2,071$1,390$920$269
33 years$4,155$2,868$1,933$1,278$832$232
34 years$3,989$2,718$1,807$1,176$754$201
35 years$3,832$2,578$1,689$1,083$683$173
36 years$3,685$2,447$1,580$997$618$150
37 years$3,546$2,324$1,479$919$561$129
38 years$3,414$2,209$1,385$847$508$112
39 years$3,290$2,100$1,297$781$461$96
40 years$3,172$1,998$1,216$720$418$83
41 years$3,060$1,902$1,140$665$379$72
42 years$2,954$1,811$1,070$613$344$62
43 years$2,853$1,726$1,004$566$312$54
44 years$2,756$1,645$942$523$283$46
45 years$2,665$1,569$885$483$257$40
46 years$2,577$1,497$831$446$234$35
47 years$2,494$1,428$781$412$212$30
48 years$2,414$1,363$734$381$193$26
49 years$2,338$1,302$690$352$175$22
50 years$2,265$1,244$648$325$159$19

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 $4,289 every year, while hoping to spend $40,942 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: 80/15/5 Blend
62$2,320,000$2,320,000$2,320,000$2,320,000
63$2,561,064$2,438,104$2,402,144$2,765,200
64$2,778,731$2,514,009$2,439,054$2,975,294
65$3,017,227$2,592,262$2,475,828$3,199,890
66$3,278,635$2,672,933$2,512,419$3,445,060
67$3,565,246$2,756,097$2,548,775$3,712,833
68$3,879,585$2,841,830$2,584,844$4,005,445
69$4,224,434$2,930,211$2,620,567$4,325,357
70$4,602,855$3,021,319$2,655,884$4,675,279
71$5,018,221$3,115,240$2,690,732$5,058,196
72$5,474,251$3,212,057$2,725,042$5,477,393
73$5,975,037$3,311,860$2,758,744$5,936,491
74$6,525,089$3,414,740$2,791,760$6,439,475
75$7,129,375$3,520,789$2,824,011$6,990,736
76$7,793,368$3,630,105$2,855,412$7,595,111
77$8,523,097$3,742,786$2,885,874$8,257,926
78$9,325,206$3,858,935$2,915,303$8,985,047
79$10,207,011$3,978,656$2,943,600$9,782,939
80$11,176,575$4,102,060$2,970,660$10,658,721
81$12,242,781$4,229,256$2,996,372$11,620,235
82$13,415,415$4,360,360$3,020,621$12,676,122
83$14,705,259$4,495,490$3,043,284$13,835,900
84$16,124,194$4,634,767$3,064,233$15,110,055
85$17,685,309$4,778,318$3,083,332$16,510,140
86$19,403,026$4,926,271$3,100,438$18,048,882
87$21,293,235$5,078,759$3,115,404$19,740,304
88$23,373,445$5,235,918$3,128,070$21,599,854
89$25,662,948$5,397,889$3,138,271$23,644,555
90$28,183,001$5,564,818$3,145,835$25,893,161
91$30,957,025$5,736,852$3,150,580$28,366,334
92$34,010,830$5,914,147$3,152,312$31,086,843
93$37,372,853$6,096,858$3,150,833$34,079,772
94$41,074,429$6,285,149$3,145,931$37,372,761
95$45,150,087$6,479,187$3,137,386$40,996,267
96$49,637,873$6,679,145$3,124,965$44,983,845
97$54,579,711$6,885,198$3,108,427$49,372,473
98$60,021,798$7,097,529$3,087,515$54,202,893
99$66,015,039$7,316,325$3,061,965$59,519,998
100$72,615,528$7,541,780$3,031,495$65,373,258