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

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 $2,420,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$199,841$198,061$196,325$194,629$192,974$187,928
2 years$98,931$97,089$95,303$93,572$91,892$86,843
3 years$65,299$63,449$61,667$59,952$58,300$53,405
4 years$48,486$46,641$44,878$43,192$41,580$36,878
5 years$38,401$36,567$34,827$33,176$31,609$27,111
6 years$31,680$29,860$28,146$26,531$25,011$20,723
7 years$26,881$25,076$23,389$21,813$20,341$16,263
8 years$23,283$21,495$19,836$18,298$16,874$13,005
9 years$20,487$18,715$17,085$15,586$14,211$10,545
10 years$18,251$16,497$14,895$13,435$12,108$8,643
11 years$16,423$14,686$13,113$11,693$10,413$7,143
12 years$14,900$13,181$11,638$10,256$9,024$5,943
13 years$13,613$11,912$10,397$9,055$7,869$4,970
14 years$12,510$10,828$9,342$8,038$6,898$4,175
15 years$11,556$9,891$8,435$7,168$6,074$3,520
16 years$10,722$9,075$7,647$6,418$5,368$2,976
17 years$9,986$8,358$6,959$5,767$4,760$2,522
18 years$9,333$7,723$6,352$5,197$4,232$2,142
19 years$8,749$7,158$5,815$4,696$3,772$1,823
20 years$8,225$6,651$5,337$4,253$3,369$1,553
21 years$7,751$6,195$4,909$3,860$3,015$1,325
22 years$7,320$5,783$4,524$3,510$2,703$1,131
23 years$6,928$5,409$4,177$3,196$2,426$967
24 years$6,569$5,068$3,863$2,915$2,181$827
25 years$6,239$4,756$3,578$2,662$1,962$708
26 years$5,935$4,470$3,319$2,434$1,767$606
27 years$5,654$4,207$3,082$2,228$1,594$519
28 years$5,394$3,964$2,865$2,041$1,438$445
29 years$5,152$3,739$2,666$1,872$1,298$382
30 years$4,926$3,531$2,483$1,718$1,173$327
31 years$4,716$3,338$2,315$1,578$1,061$281
32 years$4,519$3,159$2,160$1,450$959$241
33 years$4,334$2,991$2,017$1,334$868$207
34 years$4,160$2,835$1,884$1,227$786$177
35 years$3,997$2,689$1,762$1,129$712$152
36 years$3,844$2,552$1,648$1,040$645$131
37 years$3,698$2,424$1,543$958$585$112
38 years$3,561$2,304$1,445$883$530$96
39 years$3,432$2,191$1,353$815$481$83
40 years$3,309$2,084$1,269$751$436$71
41 years$3,192$1,984$1,190$693$396$61
42 years$3,081$1,890$1,116$640$359$52
43 years$2,976$1,800$1,047$591$326$45
44 years$2,875$1,716$983$545$296$39
45 years$2,780$1,636$923$504$268$33
46 years$2,689$1,561$867$465$244$29
47 years$2,602$1,490$814$430$221$25
48 years$2,518$1,422$765$397$201$21
49 years$2,439$1,358$719$367$183$18
50 years$2,363$1,297$676$339$166$16

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 $6,611 every year, while hoping to spend $48,876 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: 88/7/5 Blend
62$2,420,000$2,420,000$2,420,000$2,420,000
63$2,673,659$2,545,399$2,507,889$2,908,665
64$2,894,369$2,618,120$2,539,900$3,135,274
65$3,135,953$2,692,766$2,571,345$3,376,814
66$3,400,488$2,769,380$2,602,153$3,640,728
67$3,690,264$2,848,005$2,632,251$3,929,235
68$4,007,798$2,928,685$2,661,559$4,244,777
69$4,355,867$3,011,464$2,689,994$4,590,044
70$4,737,526$3,096,386$2,717,470$4,967,998
71$5,156,140$3,183,496$2,743,892$5,381,903
72$5,615,419$3,272,840$2,769,164$5,835,352
73$6,119,444$3,364,461$2,793,184$6,332,304
74$6,672,714$3,458,407$2,815,842$6,877,118
75$7,280,184$3,554,722$2,837,026$7,474,597
76$7,947,312$3,653,452$2,856,615$8,130,031
77$8,680,110$3,754,644$2,874,484$8,849,249
78$9,485,202$3,858,342$2,890,500$9,638,669
79$10,369,884$3,964,592$2,904,524$10,505,366
80$11,342,196$4,073,441$2,916,409$11,457,129
81$12,410,993$4,184,932$2,926,002$12,502,543
82$13,586,031$4,299,112$2,933,140$13,651,065
83$14,878,061$4,416,023$2,937,655$14,913,114
84$16,298,925$4,535,710$2,939,368$16,300,168
85$17,861,671$4,658,215$2,938,093$17,824,875
86$19,580,675$4,783,581$2,933,633$19,501,170
87$21,471,777$4,911,850$2,925,782$21,344,405
88$23,552,428$5,043,060$2,914,326$23,371,497
89$25,841,858$5,177,252$2,899,037$25,601,085
90$28,361,252$5,314,462$2,879,680$28,053,705
91$31,133,955$5,454,726$2,856,005$30,751,986
92$34,185,689$5,598,079$2,827,752$33,720,862
93$37,544,797$5,744,552$2,794,649$36,987,805
94$41,242,507$5,894,175$2,756,410$40,583,089
95$45,313,230$6,046,977$2,712,737$44,540,071
96$49,794,882$6,202,982$2,663,316$48,895,506
97$54,729,243$6,362,211$2,607,821$53,689,896
98$60,162,350$6,524,684$2,545,907$58,967,869
99$66,144,933$6,690,416$2,477,218$64,778,604
100$72,732,888$6,859,419$2,401,377$71,176,291