Can I retire at age 63 with 2,430,000?

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 $2,430,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$200,667$198,880$197,136$195,434$193,772$191,430
2 years$99,340$97,490$95,697$93,958$92,272$89,915
3 years$65,569$63,711$61,922$60,200$58,541$56,243
4 years$48,687$46,834$45,064$43,371$41,752$39,529
5 years$38,560$36,719$34,971$33,313$31,739$29,599
6 years$31,811$29,983$28,262$26,641$25,114$23,059
7 years$26,992$25,180$23,486$21,903$20,425$18,455
8 years$23,380$21,584$19,918$18,374$16,944$15,060
9 years$20,571$18,793$17,155$15,650$14,269$12,471
10 years$18,326$16,565$14,956$13,491$12,158$10,443
11 years$16,490$14,747$13,167$11,741$10,457$8,824
12 years$14,962$13,236$11,686$10,298$9,061$7,509
13 years$13,669$11,961$10,440$9,092$7,902$6,428
14 years$12,562$10,873$9,381$8,071$6,927$5,529
15 years$11,604$9,932$8,469$7,198$6,099$4,775
16 years$10,766$9,113$7,679$6,445$5,390$4,138
17 years$10,027$8,392$6,987$5,791$4,779$3,596
18 years$9,372$7,755$6,379$5,218$4,249$3,133
19 years$8,786$7,187$5,839$4,715$3,788$2,736
20 years$8,259$6,679$5,359$4,271$3,383$2,393
21 years$7,783$6,221$4,929$3,876$3,028$2,096
22 years$7,351$5,807$4,543$3,524$2,714$1,839
23 years$6,957$5,431$4,195$3,209$2,436$1,615
24 years$6,596$5,089$3,879$2,927$2,190$1,420
25 years$6,265$4,775$3,593$2,673$1,970$1,249
26 years$5,960$4,488$3,332$2,444$1,775$1,100
27 years$5,677$4,224$3,094$2,237$1,600$970
28 years$5,416$3,980$2,877$2,050$1,444$855
29 years$5,173$3,755$2,677$1,880$1,304$754
30 years$4,946$3,546$2,494$1,725$1,178$666
31 years$4,735$3,352$2,325$1,584$1,065$588
32 years$4,537$3,172$2,169$1,456$963$519
33 years$4,352$3,004$2,025$1,339$872$459
34 years$4,178$2,847$1,892$1,232$789$406
35 years$4,014$2,700$1,769$1,134$715$359
36 years$3,859$2,563$1,655$1,045$648$317
37 years$3,714$2,434$1,549$962$587$280
38 years$3,576$2,313$1,451$887$532$248
39 years$3,446$2,200$1,359$818$483$219
40 years$3,322$2,093$1,274$754$438$194
41 years$3,205$1,992$1,194$696$397$172
42 years$3,094$1,897$1,120$642$360$152
43 years$2,988$1,808$1,051$593$327$135
44 years$2,887$1,723$987$548$297$119
45 years$2,791$1,643$927$506$270$105
46 years$2,700$1,568$870$467$245$93
47 years$2,612$1,496$818$432$222$83
48 years$2,529$1,428$768$399$202$73
49 years$2,449$1,364$722$369$183$65
50 years$2,373$1,303$679$341$166$57

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $2,430,000, adding $5,747 every year, while hoping to spend $32,896 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: 29/50/21 Blend
62$2,430,000$2,430,000$2,430,000$2,430,000
63$2,683,788$2,554,998$2,517,333$2,743,769
64$2,922,533$2,645,192$2,566,663$2,880,581
65$3,184,528$2,738,703$2,616,542$3,024,249
66$3,472,109$2,835,658$2,666,955$3,178,018
67$3,787,850$2,936,191$2,717,884$3,342,777
68$4,134,587$3,040,441$2,769,310$3,519,501
69$4,515,443$3,148,550$2,821,209$3,709,259
70$4,933,858$3,260,670$2,873,560$3,913,223
71$5,393,624$3,376,955$2,926,337$4,132,682
72$5,898,916$3,497,568$2,979,511$4,369,050
73$6,454,335$3,622,678$3,033,055$4,623,878
74$7,064,949$3,752,461$3,086,934$4,898,872
75$7,736,342$3,887,100$3,141,115$5,195,905
76$8,474,667$4,026,786$3,195,560$5,517,035
77$9,286,701$4,171,717$3,250,229$5,864,524
78$10,179,913$4,322,099$3,305,080$6,240,857
79$11,162,530$4,478,148$3,360,066$6,648,768
80$12,243,618$4,640,087$3,415,138$7,091,259
81$13,433,167$4,808,151$3,470,245$7,571,635
82$14,742,181$4,982,582$3,525,330$8,093,529
83$16,182,788$5,163,633$3,580,333$8,660,935
84$17,768,350$5,351,568$3,635,191$9,278,248
85$19,513,589$5,546,662$3,689,837$9,950,304
86$21,434,727$5,749,201$3,744,199$10,682,421
87$23,549,641$5,959,483$3,798,201$11,480,451
88$25,878,025$6,177,819$3,851,762$12,350,835
89$28,441,584$6,404,532$3,904,796$13,300,661
90$31,264,232$6,639,961$3,957,213$14,337,727
91$34,372,320$6,884,456$4,008,917$15,470,620
92$37,794,886$7,138,383$4,059,805$16,708,789
93$41,563,927$7,402,126$4,109,771$18,062,637
94$45,714,700$7,676,083$4,158,700$19,543,616
95$50,286,055$7,960,667$4,206,473$21,164,334
96$55,320,806$8,256,313$4,252,963$22,938,672
97$60,866,126$8,563,470$4,298,035$24,881,914
98$66,974,001$8,882,611$4,341,550$27,010,889
99$73,701,715$9,214,224$4,383,357$29,344,130
100$81,112,391$9,558,822$4,423,300$31,902,044