Can I retire at age 63 with 2,400,000?

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 $2,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.9%
1 years$198,190$196,424$194,702$193,021$191,379$184,516
2 years$98,114$96,286$94,516$92,799$91,133$84,292
3 years$64,759$62,924$61,158$59,457$57,819$51,216
4 years$48,086$46,256$44,507$42,835$41,237$34,922
5 years$38,084$36,265$34,539$32,902$31,347$25,338
6 years$31,418$29,613$27,913$26,312$24,804$19,104
7 years$26,659$24,869$23,196$21,632$20,172$14,780
8 years$23,091$21,318$19,672$18,147$16,735$11,646
9 years$20,318$18,561$16,943$15,457$14,093$9,301
10 years$18,100$16,360$14,772$13,324$12,008$7,504
11 years$16,287$14,565$13,005$11,596$10,327$6,103
12 years$14,777$13,072$11,541$10,171$8,950$4,994
13 years$13,500$11,814$10,311$8,980$7,804$4,107
14 years$12,407$10,738$9,265$7,971$6,841$3,390
15 years$11,460$9,810$8,365$7,109$6,023$2,808
16 years$10,633$9,000$7,584$6,365$5,324$2,332
17 years$9,904$8,289$6,901$5,719$4,720$1,941
18 years$9,256$7,659$6,300$5,154$4,197$1,618
19 years$8,677$7,099$5,767$4,657$3,741$1,351
20 years$8,157$6,596$5,293$4,218$3,341$1,129
21 years$7,687$6,144$4,868$3,828$2,990$945
22 years$7,260$5,735$4,487$3,481$2,680$791
23 years$6,871$5,364$4,143$3,170$2,406$663
24 years$6,515$5,026$3,832$2,891$2,163$556
25 years$6,188$4,717$3,549$2,640$1,946$466
26 years$5,886$4,433$3,291$2,414$1,753$391
27 years$5,607$4,172$3,056$2,210$1,580$329
28 years$5,349$3,931$2,841$2,025$1,426$276
29 years$5,109$3,708$2,644$1,857$1,288$232
30 years$4,885$3,502$2,463$1,704$1,163$195
31 years$4,677$3,311$2,296$1,565$1,052$164
32 years$4,481$3,133$2,142$1,438$951$138
33 years$4,298$2,967$2,000$1,323$861$116
34 years$4,126$2,812$1,869$1,217$780$97
35 years$3,964$2,667$1,747$1,120$706$82
36 years$3,812$2,531$1,634$1,032$640$69
37 years$3,668$2,404$1,530$951$580$58
38 years$3,532$2,285$1,433$876$526$49
39 years$3,403$2,173$1,342$808$477$41
40 years$3,281$2,067$1,258$745$432$34
41 years$3,165$1,968$1,180$687$392$29
42 years$3,056$1,874$1,107$634$356$24
43 years$2,951$1,785$1,038$586$323$20
44 years$2,852$1,702$975$541$293$17
45 years$2,757$1,623$915$499$266$14
46 years$2,666$1,548$860$461$242$12
47 years$2,580$1,477$808$426$219$10
48 years$2,498$1,410$759$394$199$9
49 years$2,419$1,347$713$364$181$7
50 years$2,343$1,287$671$336$164$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $2,400,000, adding $4,569 every year, while hoping to spend $36,265 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: 63/11/26 Blend
62$2,400,000$2,400,000$2,400,000$2,400,000
63$2,649,513$2,522,313$2,485,113$2,797,906
64$2,881,178$2,607,321$2,529,779$2,983,945
65$3,135,257$2,695,278$2,574,725$3,182,665
66$3,413,998$2,786,292$2,619,923$3,398,929
67$3,719,878$2,880,472$2,665,343$3,634,463
68$4,055,623$2,977,933$2,710,950$3,891,163
69$4,424,238$3,078,794$2,756,708$4,171,120
70$4,829,033$3,183,177$2,802,581$4,476,635
71$5,273,653$3,291,212$2,848,526$4,810,244
72$5,762,115$3,403,030$2,894,500$5,174,737
73$6,298,841$3,518,769$2,940,456$5,573,191
74$6,888,707$3,638,572$2,986,346$6,008,992
75$7,537,081$3,762,589$3,032,115$6,485,872
76$8,249,880$3,890,973$3,077,707$7,007,939
77$9,033,622$4,023,884$3,123,064$7,579,722
78$9,895,485$4,161,488$3,168,121$8,206,207
79$10,843,383$4,303,959$3,212,811$8,892,890
80$11,886,031$4,451,476$3,257,063$9,645,823
81$13,033,032$4,604,225$3,300,801$10,471,675
82$14,294,969$4,762,399$3,343,945$11,377,794
83$15,683,498$4,926,199$3,386,410$12,372,272
84$17,211,467$5,095,835$3,428,107$13,464,030
85$18,893,028$5,271,522$3,468,940$14,662,893
86$20,743,778$5,453,488$3,508,810$15,979,687
87$22,780,899$5,641,964$3,547,611$17,426,342
88$25,023,326$5,837,196$3,585,231$19,016,001
89$27,491,922$6,039,435$3,621,553$20,763,145
90$30,209,676$6,248,945$3,656,453$22,683,733
91$33,201,918$6,465,999$3,689,799$24,795,347
92$36,496,561$6,690,880$3,721,455$27,117,361
93$40,124,361$6,923,884$3,751,274$29,671,123
94$44,119,209$7,165,317$3,779,105$32,480,158
95$48,518,449$7,415,499$3,804,786$35,570,385
96$53,363,233$7,674,761$3,828,149$38,970,368
97$58,698,906$7,943,447$3,849,015$42,711,580
98$64,575,435$8,221,917$3,867,198$46,828,702
99$71,047,881$8,510,542$3,882,501$51,359,953
100$78,176,918$8,809,712$3,894,717$56,347,444