Can I retire at age 63 with 2,340,000?

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 $2,340,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$193,235$191,514$189,834$188,195$186,595$184,416
2 years$95,661$93,879$92,153$90,479$88,855$86,662
3 years$63,140$61,351$59,629$57,970$56,373$54,234
4 years$46,883$45,100$43,395$41,764$40,206$38,137
5 years$37,132$35,359$33,676$32,079$30,564$28,571
6 years$30,633$28,873$27,215$25,654$24,184$22,270
7 years$25,992$24,247$22,616$21,092$19,668$17,834
8 years$22,514$20,785$19,180$17,693$16,317$14,562
9 years$19,810$18,097$16,520$15,071$13,741$12,065
10 years$17,647$15,951$14,402$12,991$11,708$10,109
11 years$15,880$14,201$12,680$11,306$10,069$8,547
12 years$14,408$12,746$11,253$9,917$8,726$7,278
13 years$13,163$11,518$10,054$8,755$7,609$6,234
14 years$12,097$10,470$9,033$7,772$6,670$5,366
15 years$11,174$9,564$8,156$6,931$5,873$4,637
16 years$10,367$8,775$7,394$6,206$5,190$4,021
17 years$9,656$8,082$6,729$5,576$4,602$3,498
18 years$9,024$7,468$6,142$5,025$4,092$3,049
19 years$8,460$6,921$5,623$4,541$3,647$2,664
20 years$7,953$6,431$5,161$4,112$3,258$2,332
21 years$7,495$5,991$4,747$3,732$2,915$2,045
22 years$7,078$5,592$4,375$3,394$2,613$1,795
23 years$6,699$5,230$4,039$3,091$2,346$1,578
24 years$6,352$4,900$3,736$2,819$2,108$1,388
25 years$6,033$4,599$3,460$2,574$1,897$1,222
26 years$5,739$4,322$3,209$2,354$1,709$1,077
27 years$5,467$4,067$2,980$2,154$1,541$950
28 years$5,215$3,833$2,770$1,974$1,390$839
29 years$4,981$3,616$2,578$1,810$1,255$740
30 years$4,763$3,415$2,401$1,661$1,134$654
31 years$4,560$3,228$2,239$1,526$1,026$578
32 years$4,369$3,054$2,089$1,402$928$511
33 years$4,191$2,893$1,950$1,289$840$452
34 years$4,023$2,741$1,822$1,186$760$400
35 years$3,865$2,600$1,704$1,092$688$354
36 years$3,716$2,468$1,594$1,006$624$313
37 years$3,576$2,344$1,492$927$565$277
38 years$3,444$2,228$1,397$854$513$245
39 years$3,318$2,118$1,309$788$465$217
40 years$3,199$2,015$1,227$726$422$192
41 years$3,086$1,918$1,150$670$382$170
42 years$2,979$1,827$1,079$619$347$151
43 years$2,877$1,741$1,012$571$315$134
44 years$2,780$1,659$950$527$286$118
45 years$2,688$1,582$892$487$260$105
46 years$2,600$1,510$838$450$236$93
47 years$2,516$1,441$787$416$214$82
48 years$2,435$1,375$740$384$194$73
49 years$2,358$1,313$695$355$177$65
50 years$2,285$1,254$654$328$160$57

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $2,340,000, adding $5,696 every year, while hoping to spend $34,157 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: 61/23/16 Blend
62$2,340,000$2,340,000$2,340,000$2,340,000
63$2,584,555$2,460,535$2,424,265$2,731,456
64$2,811,837$2,544,759$2,469,136$2,915,309
65$3,061,157$2,631,964$2,514,364$3,111,516
66$3,334,727$2,722,262$2,559,927$3,324,829
67$3,634,982$2,815,767$2,605,798$3,556,908
68$3,964,608$2,912,596$2,651,949$3,809,581
69$4,326,559$3,012,875$2,698,350$4,084,861
70$4,724,092$3,116,730$2,744,969$4,384,962
71$5,160,795$3,224,295$2,791,771$4,712,323
72$5,640,619$3,335,708$2,838,719$5,069,626
73$6,167,917$3,451,114$2,885,771$5,459,827
74$6,747,487$3,570,661$2,932,887$5,886,179
75$7,384,612$3,694,504$2,980,020$6,352,264
76$8,085,114$3,822,806$3,027,122$6,862,026
77$8,855,406$3,955,734$3,074,141$7,419,809
78$9,702,554$4,093,461$3,121,021$8,030,396
79$10,634,344$4,236,171$3,167,705$8,699,054
80$11,659,354$4,384,050$3,214,130$9,431,586
81$12,787,034$4,537,294$3,260,229$10,234,380
82$14,027,798$4,696,109$3,305,934$11,114,474
83$15,393,120$4,860,704$3,351,169$12,079,620
84$16,895,640$5,031,301$3,395,855$13,138,356
85$18,549,289$5,208,128$3,439,910$14,300,088
86$20,369,415$5,391,424$3,483,245$15,575,176
87$22,372,928$5,581,437$3,525,767$16,975,032
88$24,578,464$5,778,424$3,567,377$18,512,229
89$27,006,554$5,982,654$3,607,971$20,200,617
90$29,679,824$6,194,405$3,647,439$22,055,454
91$32,623,203$6,413,968$3,685,665$24,093,550
92$35,864,162$6,641,645$3,722,527$26,333,423
93$39,432,970$6,877,750$3,757,896$28,795,476
94$43,362,983$7,122,610$3,791,635$31,502,187
95$47,690,955$7,376,565$3,823,603$34,478,323
96$52,457,385$7,639,970$3,853,646$37,751,169
97$57,706,903$7,913,193$3,881,608$41,350,788
98$63,488,686$8,196,618$3,907,321$45,310,303
99$69,856,925$8,490,645$3,930,609$49,666,211
100$76,871,335$8,795,690$3,951,288$54,458,722