Can I retire at age 63 with 2,420,000?

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 $2,420,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$199,841$198,061$196,325$194,629$192,974$191,517
2 years$98,931$97,089$95,303$93,572$91,892$90,424
3 years$65,299$63,449$61,667$59,952$58,300$56,865
4 years$48,486$46,641$44,878$43,192$41,580$40,190
5 years$38,401$36,567$34,827$33,176$31,609$30,267
6 years$31,680$29,860$28,146$26,531$25,011$23,719
7 years$26,881$25,076$23,389$21,813$20,341$19,100
8 years$23,283$21,495$19,836$18,298$16,874$15,685
9 years$20,487$18,715$17,085$15,586$14,211$13,072
10 years$18,251$16,497$14,895$13,435$12,108$11,019
11 years$16,423$14,686$13,113$11,693$10,413$9,374
12 years$14,900$13,181$11,638$10,256$9,024$8,033
13 years$13,613$11,912$10,397$9,055$7,869$6,925
14 years$12,510$10,828$9,342$8,038$6,898$6,000
15 years$11,556$9,891$8,435$7,168$6,074$5,221
16 years$10,722$9,075$7,647$6,418$5,368$4,558
17 years$9,986$8,358$6,959$5,767$4,760$3,992
18 years$9,333$7,723$6,352$5,197$4,232$3,506
19 years$8,749$7,158$5,815$4,696$3,772$3,085
20 years$8,225$6,651$5,337$4,253$3,369$2,720
21 years$7,751$6,195$4,909$3,860$3,015$2,403
22 years$7,320$5,783$4,524$3,510$2,703$2,125
23 years$6,928$5,409$4,177$3,196$2,426$1,882
24 years$6,569$5,068$3,863$2,915$2,181$1,669
25 years$6,239$4,756$3,578$2,662$1,962$1,481
26 years$5,935$4,470$3,319$2,434$1,767$1,316
27 years$5,654$4,207$3,082$2,228$1,594$1,170
28 years$5,394$3,964$2,865$2,041$1,438$1,041
29 years$5,152$3,739$2,666$1,872$1,298$926
30 years$4,926$3,531$2,483$1,718$1,173$825
31 years$4,716$3,338$2,315$1,578$1,061$735
32 years$4,519$3,159$2,160$1,450$959$655
33 years$4,334$2,991$2,017$1,334$868$584
34 years$4,160$2,835$1,884$1,227$786$521
35 years$3,997$2,689$1,762$1,129$712$465
36 years$3,844$2,552$1,648$1,040$645$415
37 years$3,698$2,424$1,543$958$585$371
38 years$3,561$2,304$1,445$883$530$331
39 years$3,432$2,191$1,353$815$481$295
40 years$3,309$2,084$1,269$751$436$264
41 years$3,192$1,984$1,190$693$396$236
42 years$3,081$1,890$1,116$640$359$211
43 years$2,976$1,800$1,047$591$326$188
44 years$2,875$1,716$983$545$296$168
45 years$2,780$1,636$923$504$268$150
46 years$2,689$1,561$867$465$244$134
47 years$2,602$1,490$814$430$221$120
48 years$2,518$1,422$765$397$201$107
49 years$2,439$1,358$719$367$183$96
50 years$2,363$1,297$676$339$166$86

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $2,420,000, adding $5,306 every year, while hoping to spend $43,003 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: 37/50/13 Blend
62$2,420,000$2,420,000$2,420,000$2,420,000
63$2,672,313$2,544,053$2,506,543$2,760,367
64$2,899,134$2,622,957$2,544,757$2,902,782
65$3,147,650$2,704,286$2,582,811$3,051,977
66$3,420,027$2,788,113$2,620,652$3,212,187
67$3,718,654$2,874,514$2,658,228$3,384,417
68$4,046,158$2,963,567$2,695,480$3,569,772
69$4,405,437$3,055,352$2,732,349$3,769,468
70$4,799,678$3,149,952$2,768,770$3,984,839
71$5,232,397$3,247,450$2,804,675$4,217,353
72$5,707,461$3,347,936$2,839,992$4,468,625
73$6,229,136$3,451,498$2,874,645$4,740,429
74$6,802,116$3,558,229$2,908,553$5,034,719
75$7,431,574$3,668,225$2,941,632$5,353,643
76$8,123,210$3,781,583$2,973,792$5,699,563
77$8,883,301$3,898,405$3,004,938$6,075,079
78$9,718,765$4,018,794$3,034,971$6,483,054
79$10,637,222$4,142,857$3,063,785$6,926,636
80$11,647,065$4,270,704$3,091,269$7,409,291
81$12,757,546$4,402,449$3,117,306$7,934,834
82$13,978,854$4,538,207$3,141,774$8,507,465
83$15,322,216$4,678,098$3,164,543$9,131,808
84$16,800,003$4,822,246$3,185,476$9,812,952
85$18,425,845$4,970,777$3,204,431$10,556,502
86$20,214,757$5,123,822$3,221,256$11,368,630
87$22,183,288$5,281,515$3,235,793$12,256,132
88$24,349,667$5,443,993$3,247,876$13,226,490
89$26,733,983$5,611,398$3,257,330$14,287,948
90$29,358,370$5,783,877$3,263,971$15,449,581
91$32,247,216$5,961,580$3,267,606$16,721,387
92$35,427,395$6,144,660$3,268,034$18,114,378
93$38,928,517$6,333,276$3,265,040$19,640,681
94$42,783,210$6,527,591$3,258,404$21,313,657
95$47,027,428$6,727,774$3,247,891$23,148,021
96$51,700,787$6,933,996$3,233,257$25,159,984
97$56,846,940$7,146,434$3,214,243$27,367,405
98$62,513,989$7,365,271$3,190,582$29,789,956
99$68,754,941$7,590,694$3,161,991$32,449,310
100$75,628,202$7,822,895$3,128,175$35,369,344