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%18.3%
1 years$199,841$198,061$196,325$194,629$192,974$186,499
2 years$98,931$97,089$95,303$93,572$91,892$85,432
3 years$65,299$63,449$61,667$59,952$58,300$52,058
4 years$48,486$46,641$44,878$43,192$41,580$35,604
5 years$38,401$36,567$34,827$33,176$31,609$25,915
6 years$31,680$29,860$28,146$26,531$25,011$19,603
7 years$26,881$25,076$23,389$21,813$20,341$15,219
8 years$23,283$21,495$19,836$18,298$16,874$12,034
9 years$20,487$18,715$17,085$15,586$14,211$9,647
10 years$18,251$16,497$14,895$13,435$12,108$7,813
11 years$16,423$14,686$13,113$11,693$10,413$6,378
12 years$14,900$13,181$11,638$10,256$9,024$5,240
13 years$13,613$11,912$10,397$9,055$7,869$4,327
14 years$12,510$10,828$9,342$8,038$6,898$3,587
15 years$11,556$9,891$8,435$7,168$6,074$2,984
16 years$10,722$9,075$7,647$6,418$5,368$2,488
17 years$9,986$8,358$6,959$5,767$4,760$2,080
18 years$9,333$7,723$6,352$5,197$4,232$1,742
19 years$8,749$7,158$5,815$4,696$3,772$1,461
20 years$8,225$6,651$5,337$4,253$3,369$1,227
21 years$7,751$6,195$4,909$3,860$3,015$1,031
22 years$7,320$5,783$4,524$3,510$2,703$868
23 years$6,928$5,409$4,177$3,196$2,426$731
24 years$6,569$5,068$3,863$2,915$2,181$616
25 years$6,239$4,756$3,578$2,662$1,962$519
26 years$5,935$4,470$3,319$2,434$1,767$438
27 years$5,654$4,207$3,082$2,228$1,594$369
28 years$5,394$3,964$2,865$2,041$1,438$312
29 years$5,152$3,739$2,666$1,872$1,298$263
30 years$4,926$3,531$2,483$1,718$1,173$222
31 years$4,716$3,338$2,315$1,578$1,061$187
32 years$4,519$3,159$2,160$1,450$959$158
33 years$4,334$2,991$2,017$1,334$868$134
34 years$4,160$2,835$1,884$1,227$786$113
35 years$3,997$2,689$1,762$1,129$712$95
36 years$3,844$2,552$1,648$1,040$645$81
37 years$3,698$2,424$1,543$958$585$68
38 years$3,561$2,304$1,445$883$530$58
39 years$3,432$2,191$1,353$815$481$49
40 years$3,309$2,084$1,269$751$436$41
41 years$3,192$1,984$1,190$693$396$35
42 years$3,081$1,890$1,116$640$359$29
43 years$2,976$1,800$1,047$591$326$25
44 years$2,875$1,716$983$545$296$21
45 years$2,780$1,636$923$504$268$18
46 years$2,689$1,561$867$465$244$15
47 years$2,602$1,490$814$430$221$13
48 years$2,518$1,422$765$397$201$11
49 years$2,439$1,358$719$367$183$9
50 years$2,363$1,297$676$339$166$8

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 $3,840 every year, while hoping to spend $32,249 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: 40/44/16 Blend
62$2,420,000$2,420,000$2,420,000$2,420,000
63$2,670,801$2,542,541$2,505,031$2,764,788
64$2,908,910$2,632,813$2,554,637$2,922,207
65$3,170,225$2,726,427$2,604,824$3,088,975
66$3,457,080$2,823,514$2,655,577$3,268,700
67$3,772,043$2,924,207$2,706,880$3,462,574
68$4,117,947$3,028,649$2,758,716$3,671,906
69$4,497,910$3,136,984$2,811,065$3,898,136
70$4,915,366$3,249,366$2,863,905$4,142,845
71$5,374,101$3,365,953$2,917,213$4,407,770
72$5,878,284$3,486,909$2,970,965$4,694,822
73$6,432,508$3,612,407$3,025,131$5,006,100
74$7,041,835$3,742,626$3,079,684$5,343,912
75$7,711,839$3,877,751$3,134,590$5,710,798
76$8,448,663$4,017,977$3,189,815$6,109,547
77$9,259,075$4,163,507$3,245,323$6,543,232
78$10,150,531$4,314,549$3,301,072$7,015,230
79$11,131,247$4,471,324$3,357,020$7,529,255
80$12,210,276$4,634,060$3,413,121$8,089,397
81$13,397,590$4,802,995$3,469,326$8,700,153
82$14,704,178$4,978,376$3,525,583$9,366,473
83$16,142,150$5,160,462$3,581,836$10,093,804
84$17,724,847$5,349,522$3,638,025$10,888,143
85$19,466,969$5,545,836$3,694,086$11,756,087
86$21,384,714$5,749,697$3,749,952$12,704,901
87$23,495,931$5,961,408$3,805,552$13,742,582
88$25,820,286$6,181,287$3,860,808$14,877,931
89$28,379,450$6,409,665$3,915,640$16,120,642
90$31,197,302$6,646,887$3,969,962$17,481,385
91$34,300,154$6,893,311$4,023,683$18,971,909
92$37,717,000$7,149,314$4,076,707$20,605,153
93$41,479,788$7,415,285$4,128,931$22,395,361
94$45,623,724$7,691,631$4,180,247$24,358,224
95$50,187,601$7,978,778$4,230,543$26,511,019
96$55,214,166$8,277,168$4,279,696$28,872,774
97$60,750,525$8,587,263$4,327,580$31,464,444
98$66,848,585$8,909,546$4,374,060$34,309,111
99$73,565,545$9,244,517$4,418,995$37,432,196
100$80,964,434$9,592,702$4,462,234$40,861,702