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

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 $2,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.5%
1 years$198,190$196,424$194,702$193,021$191,379$184,810
2 years$98,114$96,286$94,516$92,799$91,133$84,581
3 years$64,759$62,924$61,158$59,457$57,819$51,490
4 years$48,086$46,256$44,507$42,835$41,237$35,180
5 years$38,084$36,265$34,539$32,902$31,347$25,579
6 years$31,418$29,613$27,913$26,312$24,804$19,328
7 years$26,659$24,869$23,196$21,632$20,172$14,988
8 years$23,091$21,318$19,672$18,147$16,735$11,838
9 years$20,318$18,561$16,943$15,457$14,093$9,477
10 years$18,100$16,360$14,772$13,324$12,008$7,666
11 years$16,287$14,565$13,005$11,596$10,327$6,250
12 years$14,777$13,072$11,541$10,171$8,950$5,128
13 years$13,500$11,814$10,311$8,980$7,804$4,229
14 years$12,407$10,738$9,265$7,971$6,841$3,501
15 years$11,460$9,810$8,365$7,109$6,023$2,908
16 years$10,633$9,000$7,584$6,365$5,324$2,422
17 years$9,904$8,289$6,901$5,719$4,720$2,021
18 years$9,256$7,659$6,300$5,154$4,197$1,690
19 years$8,677$7,099$5,767$4,657$3,741$1,415
20 years$8,157$6,596$5,293$4,218$3,341$1,187
21 years$7,687$6,144$4,868$3,828$2,990$996
22 years$7,260$5,735$4,487$3,481$2,680$837
23 years$6,871$5,364$4,143$3,170$2,406$703
24 years$6,515$5,026$3,832$2,891$2,163$592
25 years$6,188$4,717$3,549$2,640$1,946$498
26 years$5,886$4,433$3,291$2,414$1,753$419
27 years$5,607$4,172$3,056$2,210$1,580$353
28 years$5,349$3,931$2,841$2,025$1,426$298
29 years$5,109$3,708$2,644$1,857$1,288$251
30 years$4,885$3,502$2,463$1,704$1,163$211
31 years$4,677$3,311$2,296$1,565$1,052$178
32 years$4,481$3,133$2,142$1,438$951$150
33 years$4,298$2,967$2,000$1,323$861$127
34 years$4,126$2,812$1,869$1,217$780$107
35 years$3,964$2,667$1,747$1,120$706$90
36 years$3,812$2,531$1,634$1,032$640$76
37 years$3,668$2,404$1,530$951$580$64
38 years$3,532$2,285$1,433$876$526$54
39 years$3,403$2,173$1,342$808$477$46
40 years$3,281$2,067$1,258$745$432$39
41 years$3,165$1,968$1,180$687$392$32
42 years$3,056$1,874$1,107$634$356$27
43 years$2,951$1,785$1,038$586$323$23
44 years$2,852$1,702$975$541$293$20
45 years$2,757$1,623$915$499$266$16
46 years$2,666$1,548$860$461$242$14
47 years$2,580$1,477$808$426$219$12
48 years$2,498$1,410$759$394$199$10
49 years$2,419$1,347$713$364$181$8
50 years$2,343$1,287$671$336$164$7

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 $5,505 every year, while hoping to spend $57,344 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: 62/11/27 Blend
62$2,400,000$2,400,000$2,400,000$2,400,000
63$2,650,478$2,523,278$2,486,078$2,795,361
64$2,859,814$2,585,905$2,508,348$2,957,008
65$3,088,579$2,649,679$2,529,443$3,126,704
66$3,338,696$2,714,596$2,549,261$3,310,769
67$3,612,280$2,780,648$2,567,698$3,510,618
68$3,911,661$2,847,828$2,584,644$3,727,811
69$4,239,402$2,916,123$2,599,982$3,964,067
70$4,598,329$2,985,521$2,613,589$4,221,279
71$4,991,551$3,056,004$2,625,337$4,501,535
72$5,422,494$3,127,553$2,635,090$4,807,136
73$5,894,930$3,200,145$2,642,707$5,140,616
74$6,413,014$3,273,753$2,648,039$5,504,770
75$6,981,321$3,348,347$2,650,928$5,902,678
76$7,604,893$3,423,892$2,651,211$6,337,733
77$8,289,280$3,500,351$2,648,715$6,813,677
78$9,040,599$3,577,681$2,643,259$7,334,632
79$9,865,585$3,655,832$2,634,653$7,905,142
80$10,771,659$3,734,752$2,622,699$8,530,217
81$11,766,996$3,814,383$2,607,187$9,215,376
82$12,860,602$3,894,660$2,587,899$9,966,705
83$14,062,396$3,975,511$2,564,607$10,790,910
84$15,383,309$4,056,859$2,537,070$11,695,382
85$16,835,381$4,138,620$2,505,036$12,688,269
86$18,431,878$4,220,700$2,468,243$13,778,550
87$20,187,415$4,303,001$2,426,415$14,976,123
88$22,118,095$4,385,411$2,379,263$16,291,898
89$24,241,659$4,467,814$2,326,487$17,737,897
90$26,577,652$4,550,082$2,267,769$19,327,373
91$29,147,613$4,632,076$2,202,779$21,074,934
92$31,975,269$4,713,647$2,131,172$22,996,678
93$35,086,767$4,794,636$2,052,586$25,110,349
94$38,510,912$4,874,868$1,966,643$27,435,505
95$42,279,447$4,954,159$1,872,947$29,993,702
96$46,427,346$5,032,308$1,771,087$32,808,697
97$50,993,146$5,109,102$1,660,628$35,906,675
98$56,019,309$5,184,310$1,541,121$39,316,496
99$61,552,624$5,257,686$1,412,094$43,069,969
100$67,644,646$5,328,967$1,273,054$47,202,151