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%13.6%
1 years$193,235$191,514$189,834$188,195$186,595$183,806
2 years$95,661$93,879$92,153$90,479$88,855$86,052
3 years$63,140$61,351$59,629$57,970$56,373$53,643
4 years$46,883$45,100$43,395$41,764$40,206$37,569
5 years$37,132$35,359$33,676$32,079$30,564$28,028
6 years$30,633$28,873$27,215$25,654$24,184$21,753
7 years$25,992$24,247$22,616$21,092$19,668$17,342
8 years$22,514$20,785$19,180$17,693$16,317$14,095
9 years$19,810$18,097$16,520$15,071$13,741$11,623
10 years$17,647$15,951$14,402$12,991$11,708$9,692
11 years$15,880$14,201$12,680$11,306$10,069$8,153
12 years$14,408$12,746$11,253$9,917$8,726$6,908
13 years$13,163$11,518$10,054$8,755$7,609$5,886
14 years$12,097$10,470$9,033$7,772$6,670$5,039
15 years$11,174$9,564$8,156$6,931$5,873$4,331
16 years$10,367$8,775$7,394$6,206$5,190$3,735
17 years$9,656$8,082$6,729$5,576$4,602$3,230
18 years$9,024$7,468$6,142$5,025$4,092$2,800
19 years$8,460$6,921$5,623$4,541$3,647$2,432
20 years$7,953$6,431$5,161$4,112$3,258$2,117
21 years$7,495$5,991$4,747$3,732$2,915$1,844
22 years$7,078$5,592$4,375$3,394$2,613$1,609
23 years$6,699$5,230$4,039$3,091$2,346$1,406
24 years$6,352$4,900$3,736$2,819$2,108$1,229
25 years$6,033$4,599$3,460$2,574$1,897$1,076
26 years$5,739$4,322$3,209$2,354$1,709$942
27 years$5,467$4,067$2,980$2,154$1,541$826
28 years$5,215$3,833$2,770$1,974$1,390$724
29 years$4,981$3,616$2,578$1,810$1,255$635
30 years$4,763$3,415$2,401$1,661$1,134$557
31 years$4,560$3,228$2,239$1,526$1,026$489
32 years$4,369$3,054$2,089$1,402$928$430
33 years$4,191$2,893$1,950$1,289$840$378
34 years$4,023$2,741$1,822$1,186$760$332
35 years$3,865$2,600$1,704$1,092$688$292
36 years$3,716$2,468$1,594$1,006$624$256
37 years$3,576$2,344$1,492$927$565$225
38 years$3,444$2,228$1,397$854$513$198
39 years$3,318$2,118$1,309$788$465$174
40 years$3,199$2,015$1,227$726$422$153
41 years$3,086$1,918$1,150$670$382$135
42 years$2,979$1,827$1,079$619$347$119
43 years$2,877$1,741$1,012$571$315$104
44 years$2,780$1,659$950$527$286$92
45 years$2,688$1,582$892$487$260$81
46 years$2,600$1,510$838$450$236$71
47 years$2,516$1,441$787$416$214$63
48 years$2,435$1,375$740$384$194$55
49 years$2,358$1,313$695$355$177$48
50 years$2,285$1,254$654$328$160$43

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 $3,161 every year, while hoping to spend $44,311 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: 52/27/21 Blend
62$2,340,000$2,340,000$2,340,000$2,340,000
63$2,581,941$2,457,921$2,421,651$2,701,056
64$2,798,152$2,531,212$2,455,629$2,856,782
65$3,034,932$2,606,610$2,489,261$3,021,229
66$3,294,331$2,684,170$2,522,488$3,199,166
67$3,578,609$2,763,951$2,555,248$3,391,891
68$3,890,254$2,846,011$2,587,475$3,600,832
69$4,232,005$2,930,410$2,619,100$3,827,560
70$4,606,880$3,017,211$2,650,051$4,073,808
71$5,018,204$3,106,477$2,680,249$4,341,481
72$5,469,637$3,198,271$2,709,615$4,632,678
73$5,965,214$3,292,659$2,738,060$4,949,710
74$6,509,376$3,389,710$2,765,495$5,295,122
75$7,107,017$3,489,491$2,791,824$5,671,718
76$7,763,529$3,592,072$2,816,947$6,082,586
77$8,484,850$3,697,525$2,840,756$6,531,124
78$9,277,524$3,805,922$2,863,140$7,021,080
79$10,148,758$3,917,339$2,883,981$7,556,580
80$11,106,492$4,031,850$2,903,156$8,142,168
81$12,159,476$4,149,532$2,920,534$8,782,852
82$13,317,349$4,270,465$2,935,978$9,484,147
83$14,590,729$4,394,728$2,949,343$10,252,131
84$15,991,317$4,522,403$2,960,480$11,093,499
85$17,532,003$4,653,573$2,969,227$12,015,625
86$19,226,990$4,788,321$2,975,420$13,026,639
87$21,091,928$4,926,734$2,978,882$14,135,492
88$23,144,059$5,068,899$2,979,428$15,352,051
89$25,402,382$5,214,903$2,976,867$16,687,186
90$27,887,828$5,364,836$2,970,996$18,152,874
91$30,623,463$5,518,790$2,961,601$19,762,312
92$33,634,703$5,676,857$2,948,461$21,530,042
93$36,949,549$5,839,130$2,931,341$23,472,086
94$40,598,860$6,005,704$2,909,997$25,606,100
95$44,616,634$6,176,674$2,884,173$27,951,541
96$49,040,337$6,352,137$2,853,599$30,529,845
97$53,911,251$6,532,191$2,817,994$33,364,637
98$59,274,865$6,716,936$2,777,064$36,481,947
99$65,181,306$6,906,470$2,730,500$39,910,462
100$71,685,805$7,100,893$2,677,978$43,681,790