Can I retire at age 63 with 2,360,000?

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 $2,360,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$194,887$193,151$191,457$189,804$188,190$182,239
2 years$96,479$94,682$92,940$91,252$89,614$83,672
3 years$63,680$61,876$60,139$58,466$56,855$51,109
4 years$47,284$45,485$43,765$42,121$40,549$35,043
5 years$37,449$35,661$33,964$32,353$30,825$25,574
6 years$30,895$29,120$27,448$25,873$24,391$19,398
7 years$26,215$24,455$22,809$21,272$19,836$15,103
8 years$22,706$20,962$19,344$17,844$16,456$11,978
9 years$19,979$18,251$16,661$15,199$13,858$9,631
10 years$17,798$16,088$14,525$13,102$11,808$7,824
11 years$16,015$14,322$12,788$11,403$10,155$6,409
12 years$14,531$12,855$11,349$10,002$8,800$5,282
13 years$13,275$11,617$10,140$8,830$7,674$4,377
14 years$12,200$10,559$9,110$7,838$6,727$3,641
15 years$11,269$9,646$8,226$6,990$5,923$3,039
16 years$10,456$8,850$7,458$6,259$5,235$2,544
17 years$9,738$8,151$6,786$5,624$4,642$2,134
18 years$9,102$7,532$6,195$5,068$4,127$1,794
19 years$8,532$6,980$5,671$4,580$3,679$1,510
20 years$8,021$6,486$5,205$4,148$3,286$1,273
21 years$7,559$6,042$4,787$3,764$2,940$1,074
22 years$7,139$5,640$4,412$3,423$2,636$908
23 years$6,756$5,275$4,074$3,117$2,366$767
24 years$6,406$4,942$3,768$2,843$2,127$649
25 years$6,084$4,638$3,490$2,596$1,914$549
26 years$5,788$4,359$3,236$2,374$1,724$465
27 years$5,514$4,102$3,005$2,173$1,554$394
28 years$5,260$3,866$2,794$1,991$1,402$334
29 years$5,024$3,647$2,600$1,826$1,266$283
30 years$4,804$3,444$2,422$1,675$1,144$240
31 years$4,599$3,256$2,258$1,539$1,034$203
32 years$4,407$3,080$2,106$1,414$936$172
33 years$4,226$2,917$1,967$1,300$847$146
34 years$4,057$2,765$1,838$1,197$767$124
35 years$3,898$2,622$1,718$1,101$694$105
36 years$3,748$2,489$1,607$1,014$629$89
37 years$3,607$2,364$1,504$935$570$76
38 years$3,473$2,247$1,409$862$517$64
39 years$3,346$2,136$1,320$794$469$55
40 years$3,226$2,033$1,237$733$425$46
41 years$3,113$1,935$1,160$676$386$39
42 years$3,005$1,843$1,088$624$350$33
43 years$2,902$1,756$1,021$576$318$28
44 years$2,804$1,674$958$532$288$24
45 years$2,711$1,596$900$491$262$20
46 years$2,622$1,522$845$454$238$17
47 years$2,537$1,453$794$419$216$15
48 years$2,456$1,387$746$387$196$12
49 years$2,378$1,324$701$358$178$11
50 years$2,304$1,265$659$331$162$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $2,360,000, adding $2,543 every year, while hoping to spend $31,786 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: 38/42/20 Blend
62$2,360,000$2,360,000$2,360,000$2,360,000
63$2,603,343$2,478,263$2,441,683$2,686,572
64$2,835,064$2,565,878$2,489,659$2,834,532
65$3,089,355$2,656,721$2,538,178$2,991,141
66$3,368,485$2,750,916$2,587,222$3,159,740
67$3,674,953$2,848,593$2,636,776$3,341,429
68$4,011,511$2,949,887$2,686,821$3,537,416
69$4,381,192$3,054,938$2,737,337$3,749,028
70$4,787,337$3,163,893$2,788,301$3,977,725
71$5,233,625$3,276,904$2,839,688$4,225,109
72$5,724,111$3,394,128$2,891,474$4,492,944
73$6,263,261$3,515,731$2,943,629$4,783,164
74$6,855,996$3,641,884$2,996,123$5,097,902
75$7,507,737$3,772,766$3,048,923$5,439,499
76$8,224,457$3,908,563$3,101,993$5,810,531
77$9,012,737$4,049,468$3,155,296$6,213,831
78$9,879,828$4,195,683$3,208,789$6,652,515
79$10,833,717$4,347,418$3,262,430$7,130,014
80$11,883,206$4,504,892$3,316,172$7,650,098
81$13,037,994$4,668,332$3,369,964$8,216,920
82$14,308,764$4,837,976$3,423,753$8,835,047
83$15,707,292$5,014,071$3,477,483$9,509,507
84$17,246,549$5,196,873$3,531,092$10,245,833
85$18,940,830$5,386,652$3,584,516$11,050,116
86$20,805,883$5,583,687$3,637,686$11,929,061
87$22,859,065$5,788,269$3,690,530$12,890,048
88$25,119,496$6,000,702$3,742,970$13,941,203
89$27,608,250$6,221,301$3,794,924$15,091,472
90$30,348,543$6,450,396$3,846,305$16,350,705
91$33,365,959$6,688,331$3,897,022$17,729,748
92$36,688,691$6,935,463$3,946,976$19,240,545
93$40,347,803$7,192,166$3,996,065$20,896,248
94$44,377,526$7,458,829$4,044,180$22,711,339
95$48,815,579$7,735,857$4,091,206$24,701,769
96$53,703,527$8,023,673$4,137,020$26,885,106
97$59,087,172$8,322,718$4,181,495$29,280,697
98$65,016,983$8,633,451$4,224,496$31,909,852
99$71,548,578$8,956,353$4,265,878$34,796,043
100$78,743,241$9,291,922$4,305,493$37,965,122