Can I retire at age 63 with 2,350,000?

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 $2,350,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$194,061$192,332$190,646$189,000$187,392$183,834
2 years$96,070$94,280$92,546$90,865$89,234$85,664
3 years$63,410$61,613$59,884$58,218$56,614$53,142
4 years$47,084$45,292$43,580$41,943$40,378$37,031
5 years$37,290$35,510$33,820$32,216$30,694$27,482
6 years$30,764$28,996$27,331$25,764$24,287$21,214
7 years$26,103$24,351$22,713$21,182$19,752$16,818
8 years$22,610$20,873$19,262$17,769$16,386$13,590
9 years$19,894$18,174$16,590$15,135$13,800$11,140
10 years$17,723$16,020$14,464$13,047$11,758$9,233
11 years$15,948$14,261$12,734$11,354$10,112$7,718
12 years$14,469$12,800$11,301$9,959$8,763$6,497
13 years$13,219$11,568$10,097$8,793$7,642$5,500
14 years$12,149$10,515$9,072$7,805$6,699$4,677
15 years$11,222$9,605$8,191$6,961$5,898$3,992
16 years$10,411$8,813$7,426$6,233$5,213$3,419
17 years$9,697$8,116$6,757$5,600$4,622$2,936
18 years$9,063$7,500$6,169$5,047$4,110$2,527
19 years$8,496$6,951$5,647$4,560$3,663$2,179
20 years$7,987$6,459$5,183$4,130$3,272$1,882
21 years$7,527$6,016$4,767$3,748$2,928$1,627
22 years$7,109$5,616$4,394$3,408$2,624$1,409
23 years$6,728$5,252$4,057$3,104$2,356$1,221
24 years$6,379$4,921$3,752$2,831$2,117$1,060
25 years$6,059$4,618$3,475$2,585$1,905$920
26 years$5,763$4,340$3,223$2,364$1,716$799
27 years$5,491$4,085$2,993$2,164$1,547$695
28 years$5,238$3,849$2,782$1,982$1,396$604
29 years$5,003$3,631$2,589$1,818$1,261$526
30 years$4,784$3,429$2,411$1,668$1,139$458
31 years$4,579$3,242$2,248$1,532$1,030$399
32 years$4,388$3,067$2,098$1,408$932$347
33 years$4,209$2,905$1,958$1,295$843$302
34 years$4,040$2,753$1,830$1,191$763$263
35 years$3,882$2,611$1,711$1,097$691$230
36 years$3,732$2,479$1,600$1,010$626$200
37 years$3,591$2,354$1,498$931$568$174
38 years$3,458$2,237$1,403$858$515$152
39 years$3,332$2,127$1,314$791$467$133
40 years$3,213$2,024$1,232$730$423$116
41 years$3,100$1,927$1,155$673$384$101
42 years$2,992$1,835$1,084$621$349$88
43 years$2,890$1,748$1,017$573$316$77
44 years$2,792$1,666$954$529$287$67
45 years$2,699$1,589$896$489$261$58
46 years$2,611$1,516$842$452$237$51
47 years$2,526$1,447$791$417$215$44
48 years$2,446$1,381$743$386$195$39
49 years$2,368$1,319$698$356$177$34
50 years$2,294$1,260$657$329$161$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $2,350,000, adding $3,645 every year, while hoping to spend $30,625 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: 79/6/15 Blend
62$2,350,000$2,350,000$2,350,000$2,350,000
63$2,593,460$2,468,910$2,432,485$2,789,970
64$2,825,408$2,557,302$2,481,388$3,008,263
65$3,079,988$2,648,998$2,530,904$3,243,434
66$3,359,477$2,744,129$2,581,019$3,500,602
67$3,666,382$2,842,830$2,631,721$3,781,956
68$4,003,464$2,945,240$2,682,995$4,089,907
69$4,373,767$3,051,506$2,734,825$4,427,111
70$4,780,642$3,161,780$2,787,192$4,796,494
71$5,227,782$3,276,222$2,840,078$5,201,276
72$5,719,255$3,394,996$2,893,460$5,645,007
73$6,259,543$3,518,275$2,947,314$6,131,595
74$6,853,583$3,646,237$3,001,616$6,665,347
75$7,506,816$3,779,070$3,056,338$7,251,006
76$8,225,235$3,916,968$3,111,449$7,893,797
77$9,015,443$4,060,134$3,166,916$8,599,479
78$9,884,717$4,208,779$3,222,706$9,374,391
79$10,841,071$4,363,122$3,278,781$10,225,522
80$11,893,340$4,523,395$3,335,099$11,160,569
81$13,051,254$4,689,834$3,391,618$12,188,013
82$14,325,536$4,862,690$3,448,292$13,317,197
83$15,728,001$5,042,223$3,505,070$14,558,415
84$17,271,668$5,228,702$3,561,900$15,923,011
85$18,970,879$5,422,410$3,618,725$17,423,481
86$20,841,442$5,623,641$3,675,486$19,073,595
87$22,900,771$5,832,702$3,732,117$20,888,523
88$25,168,058$6,049,912$3,788,550$22,884,983
89$27,664,446$6,275,604$3,844,714$25,081,392
90$30,413,238$6,510,127$3,900,530$27,498,046
91$33,440,108$6,753,843$3,955,917$30,157,308
92$36,773,347$7,007,129$4,010,788$33,083,817
93$40,444,130$7,270,380$4,065,051$36,304,725
94$44,486,810$7,544,008$4,118,609$39,849,950
95$48,939,241$7,828,440$4,171,359$43,752,457
96$53,843,135$8,124,125$4,223,191$48,048,573
97$59,244,457$8,431,530$4,273,990$52,778,325
98$65,193,858$8,751,141$4,323,635$57,985,819
99$71,747,152$9,083,467$4,371,997$63,719,660
100$78,965,842$9,429,038$4,418,940$70,033,404