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%16.6%
1 years$199,841$198,061$196,325$194,629$192,974$187,776
2 years$98,931$97,089$95,303$93,572$91,892$86,693
3 years$65,299$63,449$61,667$59,952$58,300$53,261
4 years$48,486$46,641$44,878$43,192$41,580$36,741
5 years$38,401$36,567$34,827$33,176$31,609$26,982
6 years$31,680$29,860$28,146$26,531$25,011$20,602
7 years$26,881$25,076$23,389$21,813$20,341$16,149
8 years$23,283$21,495$19,836$18,298$16,874$12,899
9 years$20,487$18,715$17,085$15,586$14,211$10,447
10 years$18,251$16,497$14,895$13,435$12,108$8,552
11 years$16,423$14,686$13,113$11,693$10,413$7,059
12 years$14,900$13,181$11,638$10,256$9,024$5,865
13 years$13,613$11,912$10,397$9,055$7,869$4,898
14 years$12,510$10,828$9,342$8,038$6,898$4,109
15 years$11,556$9,891$8,435$7,168$6,074$3,459
16 years$10,722$9,075$7,647$6,418$5,368$2,921
17 years$9,986$8,358$6,959$5,767$4,760$2,472
18 years$9,333$7,723$6,352$5,197$4,232$2,096
19 years$8,749$7,158$5,815$4,696$3,772$1,781
20 years$8,225$6,651$5,337$4,253$3,369$1,515
21 years$7,751$6,195$4,909$3,860$3,015$1,290
22 years$7,320$5,783$4,524$3,510$2,703$1,100
23 years$6,928$5,409$4,177$3,196$2,426$939
24 years$6,569$5,068$3,863$2,915$2,181$802
25 years$6,239$4,756$3,578$2,662$1,962$685
26 years$5,935$4,470$3,319$2,434$1,767$586
27 years$5,654$4,207$3,082$2,228$1,594$501
28 years$5,394$3,964$2,865$2,041$1,438$429
29 years$5,152$3,739$2,666$1,872$1,298$367
30 years$4,926$3,531$2,483$1,718$1,173$314
31 years$4,716$3,338$2,315$1,578$1,061$269
32 years$4,519$3,159$2,160$1,450$959$230
33 years$4,334$2,991$2,017$1,334$868$197
34 years$4,160$2,835$1,884$1,227$786$169
35 years$3,997$2,689$1,762$1,129$712$145
36 years$3,844$2,552$1,648$1,040$645$124
37 years$3,698$2,424$1,543$958$585$107
38 years$3,561$2,304$1,445$883$530$91
39 years$3,432$2,191$1,353$815$481$78
40 years$3,309$2,084$1,269$751$436$67
41 years$3,192$1,984$1,190$693$396$58
42 years$3,081$1,890$1,116$640$359$49
43 years$2,976$1,800$1,047$591$326$42
44 years$2,875$1,716$983$545$296$36
45 years$2,780$1,636$923$504$268$31
46 years$2,689$1,561$867$465$244$27
47 years$2,602$1,490$814$430$221$23
48 years$2,518$1,422$765$397$201$20
49 years$2,439$1,358$719$367$183$17
50 years$2,363$1,297$676$339$166$14

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 $2,739 every year, while hoping to spend $43,104 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: 35/38/27 Blend
62$2,420,000$2,420,000$2,420,000$2,420,000
63$2,669,665$2,541,405$2,503,895$2,741,265
64$2,896,109$2,620,072$2,541,913$2,873,657
65$3,144,205$2,701,148$2,579,761$3,012,318
66$3,416,117$2,784,707$2,617,385$3,161,097
67$3,714,226$2,870,824$2,654,734$3,320,924
68$4,041,158$2,959,574$2,691,747$3,492,829
69$4,399,800$3,051,038$2,728,366$3,677,938
70$4,793,338$3,145,297$2,764,524$3,877,496
71$5,225,276$3,242,434$2,800,153$4,092,867
72$5,699,477$3,342,536$2,835,180$4,325,557
73$6,220,194$3,445,691$2,869,530$4,577,220
74$6,792,116$3,551,992$2,903,121$4,849,678
75$7,420,403$3,661,531$2,935,867$5,144,935
76$8,110,743$3,774,405$2,967,678$5,465,199
77$8,869,403$3,890,714$2,998,458$5,812,899
78$9,703,283$4,010,561$3,028,108$6,190,710
79$10,619,989$4,134,049$3,056,521$6,601,579
80$11,627,898$4,261,288$3,083,585$7,048,747
81$12,736,242$4,392,389$3,109,183$7,535,788
82$13,955,189$4,527,467$3,133,191$8,066,635
83$15,295,944$4,666,638$3,155,478$8,645,620
84$16,770,851$4,810,025$3,175,908$9,277,514
85$18,393,513$4,957,751$3,194,336$9,967,574
86$20,178,915$5,109,945$3,210,610$10,721,588
87$22,143,571$5,266,738$3,224,572$11,545,933
88$24,305,673$5,428,266$3,236,052$12,447,635
89$26,685,268$5,594,667$3,244,877$13,434,431
90$29,304,445$5,766,086$3,250,860$14,514,847
91$32,187,542$5,942,668$3,253,808$15,698,274
92$35,361,378$6,124,565$3,253,517$16,995,061
93$38,855,502$6,311,933$3,249,773$18,416,606
94$42,702,476$6,504,930$3,242,353$19,975,471
95$46,938,178$6,703,721$3,231,021$21,685,494
96$51,602,143$6,908,474$3,215,532$23,561,921
97$56,737,936$7,119,363$3,195,626$25,621,553
98$62,393,558$7,336,565$3,171,032$27,882,900
99$68,621,908$7,560,263$3,141,468$30,366,358
100$75,481,271$7,790,645$3,106,636$33,094,400