Can I retire at age 63 with 2,390,000?

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 $2,390,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18%
1 years$197,364$195,606$193,891$192,217$190,582$184,407
2 years$97,705$95,885$94,122$92,412$90,753$84,591
3 years$64,490$62,662$60,903$59,209$57,578$51,620
4 years$47,885$46,063$44,322$42,657$41,065$35,358
5 years$37,925$36,114$34,396$32,765$31,217$25,776
6 years$31,287$29,490$27,797$26,202$24,701$19,531
7 years$26,548$24,766$23,099$21,542$20,088$15,188
8 years$22,995$21,229$19,590$18,071$16,665$12,032
9 years$20,233$18,483$16,873$15,393$14,035$9,662
10 years$18,025$16,292$14,710$13,269$11,958$7,840
11 years$16,219$14,504$12,951$11,548$10,284$6,413
12 years$14,715$13,018$11,493$10,129$8,912$5,279
13 years$13,444$11,764$10,268$8,942$7,772$4,368
14 years$12,355$10,694$9,226$7,938$6,813$3,629
15 years$11,413$9,769$8,330$7,079$5,998$3,025
16 years$10,589$8,963$7,552$6,339$5,301$2,528
17 years$9,862$8,254$6,872$5,695$4,701$2,118
18 years$9,217$7,627$6,274$5,133$4,180$1,778
19 years$8,641$7,069$5,743$4,638$3,725$1,494
20 years$8,123$6,569$5,271$4,200$3,327$1,258
21 years$7,655$6,119$4,848$3,812$2,978$1,060
22 years$7,230$5,711$4,468$3,466$2,669$894
23 years$6,842$5,342$4,126$3,157$2,396$754
24 years$6,488$5,005$3,816$2,879$2,154$637
25 years$6,162$4,697$3,534$2,629$1,938$538
26 years$5,862$4,414$3,278$2,404$1,746$455
27 years$5,584$4,154$3,044$2,201$1,574$385
28 years$5,327$3,915$2,829$2,016$1,420$326
29 years$5,088$3,693$2,633$1,849$1,282$275
30 years$4,865$3,488$2,453$1,697$1,159$233
31 years$4,657$3,297$2,286$1,558$1,047$197
32 years$4,463$3,120$2,133$1,432$948$167
33 years$4,280$2,954$1,992$1,317$858$142
34 years$4,109$2,800$1,861$1,212$776$120
35 years$3,948$2,656$1,740$1,115$703$102
36 years$3,796$2,521$1,628$1,027$637$86
37 years$3,653$2,394$1,523$947$577$73
38 years$3,517$2,275$1,427$872$524$62
39 years$3,389$2,164$1,337$804$475$52
40 years$3,268$2,058$1,253$742$431$44
41 years$3,152$1,959$1,175$685$391$38
42 years$3,043$1,866$1,102$632$354$32
43 years$2,939$1,778$1,034$583$322$27
44 years$2,840$1,695$971$538$292$23
45 years$2,745$1,616$911$497$265$19
46 years$2,655$1,542$856$459$241$16
47 years$2,569$1,471$804$424$219$14
48 years$2,487$1,405$756$392$198$12
49 years$2,409$1,341$710$362$180$10
50 years$2,333$1,281$668$335$164$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $2,390,000, adding $6,144 every year, while hoping to spend $30,245 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: 47/48/5 Blend
62$2,390,000$2,390,000$2,390,000$2,390,000
63$2,640,118$2,513,448$2,476,403$2,760,498
64$2,877,229$2,604,426$2,527,182$2,934,558
65$3,137,512$2,698,849$2,578,648$3,119,647
66$3,423,299$2,796,853$2,630,793$3,319,785
67$3,737,157$2,898,580$2,683,606$3,536,375
68$4,081,916$3,004,180$2,737,076$3,770,955
69$4,460,693$3,113,806$2,791,190$4,025,218
70$4,876,922$3,227,620$2,845,933$4,301,023
71$5,334,385$3,345,791$2,901,288$4,600,412
72$5,837,249$3,468,492$2,957,239$4,925,632
73$6,390,107$3,595,906$3,013,765$5,279,150
74$6,998,016$3,728,224$3,070,844$5,663,683
75$7,666,550$3,865,643$3,128,453$6,082,215
76$8,401,848$4,008,369$3,186,566$6,538,028
77$9,210,676$4,156,619$3,245,156$7,034,734
78$10,100,487$4,310,616$3,304,191$7,576,305
79$11,079,494$4,470,593$3,363,639$8,167,110
80$12,156,746$4,636,796$3,423,464$8,811,958
81$13,342,213$4,809,477$3,483,628$9,516,137
82$14,646,879$4,988,902$3,544,091$10,285,471
83$16,082,850$5,175,348$3,604,807$11,126,364
84$17,663,463$5,369,102$3,665,730$12,045,867
85$19,403,413$5,570,465$3,726,809$13,051,741
86$21,318,894$5,779,751$3,787,990$14,152,529
87$23,427,749$5,997,286$3,849,215$15,357,633
88$25,749,638$6,223,412$3,910,423$16,677,405
89$28,306,226$6,458,484$3,971,547$18,123,242
90$31,121,385$6,702,873$4,032,517$19,707,692
91$34,221,420$6,956,967$4,093,260$21,444,571
92$37,635,316$7,221,170$4,153,696$23,349,090
93$41,395,014$7,495,903$4,213,740$25,438,001
94$45,535,709$7,781,606$4,273,305$27,729,750
95$50,096,185$8,078,739$4,332,294$30,244,651
96$55,119,179$8,387,779$4,390,608$33,005,076
97$60,651,782$8,709,228$4,448,141$36,035,662
98$66,745,891$9,043,607$4,504,781$39,363,544
99$73,458,689$9,391,461$4,560,408$43,018,609
100$80,853,191$9,753,358$4,614,898$47,033,776