Can I retire at age 63 with 2,440,000?

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 $2,440,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$201,493$199,698$197,947$196,238$194,569$192,058
2 years$99,749$97,891$96,091$94,345$92,652$90,126
3 years$65,839$63,973$62,177$60,448$58,782$56,319
4 years$48,887$47,027$45,249$43,549$41,924$39,543
5 years$38,719$36,870$35,115$33,450$31,870$29,579
6 years$31,942$30,107$28,378$26,750$25,218$23,018
7 years$27,103$25,284$23,582$21,993$20,509$18,402
8 years$23,476$21,673$20,000$18,449$17,014$15,000
9 years$20,656$18,870$17,226$15,715$14,328$12,406
10 years$18,402$16,633$15,018$13,546$12,208$10,376
11 years$16,558$14,807$13,221$11,789$10,500$8,756
12 years$15,023$13,290$11,734$10,341$9,099$7,442
13 years$13,725$12,011$10,483$9,129$7,934$6,362
14 years$12,614$10,917$9,419$8,104$6,955$5,465
15 years$11,651$9,973$8,504$7,227$6,124$4,713
16 years$10,810$9,150$7,710$6,471$5,412$4,079
17 years$10,069$8,427$7,016$5,814$4,799$3,540
18 years$9,410$7,787$6,405$5,240$4,267$3,080
19 years$8,822$7,217$5,863$4,735$3,803$2,685
20 years$8,293$6,706$5,381$4,288$3,397$2,345
21 years$7,815$6,247$4,950$3,892$3,040$2,051
22 years$7,381$5,831$4,562$3,539$2,725$1,797
23 years$6,985$5,454$4,212$3,223$2,446$1,576
24 years$6,623$5,110$3,895$2,939$2,199$1,383
25 years$6,291$4,795$3,608$2,684$1,978$1,215
26 years$5,984$4,507$3,346$2,454$1,782$1,068
27 years$5,701$4,241$3,107$2,247$1,607$940
28 years$5,438$3,997$2,889$2,058$1,450$828
29 years$5,194$3,770$2,688$1,888$1,309$729
30 years$4,967$3,561$2,504$1,732$1,183$642
31 years$4,754$3,366$2,334$1,591$1,069$566
32 years$4,556$3,185$2,178$1,462$967$499
33 years$4,370$3,016$2,033$1,345$875$441
34 years$4,195$2,859$1,900$1,237$793$389
35 years$4,030$2,711$1,776$1,139$718$343
36 years$3,875$2,573$1,662$1,049$650$303
37 years$3,729$2,444$1,555$966$590$267
38 years$3,591$2,323$1,457$891$534$236
39 years$3,460$2,209$1,365$821$485$209
40 years$3,336$2,102$1,279$758$440$184
41 years$3,218$2,000$1,199$699$399$163
42 years$3,106$1,905$1,125$645$362$144
43 years$3,000$1,815$1,056$595$328$127
44 years$2,899$1,730$991$550$298$112
45 years$2,803$1,650$930$508$271$99
46 years$2,711$1,574$874$469$246$88
47 years$2,623$1,502$821$433$223$77
48 years$2,539$1,434$772$400$203$68
49 years$2,459$1,369$725$370$184$61
50 years$2,382$1,308$682$342$167$54

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $2,440,000, adding $3,609 every year, while hoping to spend $59,441 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: 74/21/5 Blend
62$2,440,000$2,440,000$2,440,000$2,440,000
63$2,692,603$2,563,283$2,525,463$2,890,607
64$2,904,003$2,625,639$2,546,821$3,083,696
65$3,134,975$2,689,058$2,566,902$3,287,231
66$3,387,450$2,753,530$2,585,602$3,508,468
67$3,663,559$2,819,041$2,602,808$3,749,135
68$3,965,643$2,885,576$2,618,404$4,011,133
69$4,296,286$2,953,116$2,632,267$4,296,557
70$4,658,327$3,021,639$2,644,268$4,607,713
71$5,054,897$3,091,120$2,654,271$4,947,141
72$5,489,441$3,161,530$2,662,135$5,317,637
73$5,965,757$3,232,837$2,667,708$5,722,282
74$6,488,022$3,305,004$2,670,835$6,164,468
75$7,060,842$3,377,991$2,671,350$6,647,934
76$7,689,288$3,451,752$2,669,079$7,176,795
77$8,378,944$3,526,237$2,663,843$7,755,587
78$9,135,964$3,601,391$2,655,449$8,389,304
79$9,967,125$3,677,151$2,643,699$9,083,450
80$10,879,891$3,753,451$2,628,383$9,844,087
81$11,882,488$3,830,218$2,609,281$10,677,894
82$12,983,974$3,907,371$2,586,165$11,592,231
83$14,194,330$3,984,823$2,558,792$12,595,204
84$15,524,551$4,062,479$2,526,911$13,695,746
85$16,986,751$4,140,236$2,490,257$14,903,699
86$18,594,273$4,217,981$2,448,555$16,229,908
87$20,361,821$4,295,595$2,401,514$17,686,319
88$22,305,594$4,372,946$2,348,832$19,286,100
89$24,443,438$4,449,893$2,290,191$21,043,756
90$26,795,016$4,526,285$2,225,259$22,975,272
91$29,381,993$4,601,959$2,153,691$25,098,262
92$32,228,239$4,676,737$2,075,122$27,432,134
93$35,360,054$4,750,433$1,989,174$29,998,275
94$38,806,418$4,822,842$1,895,449$32,820,252
95$42,599,259$4,893,747$1,793,534$35,924,033
96$46,773,759$4,962,917$1,682,993$39,338,235
97$51,368,684$5,030,101$1,563,375$43,094,393
98$56,426,747$5,095,034$1,434,205$47,227,257
99$61,995,014$5,157,429$1,294,990$51,775,118
100$68,125,346$5,216,984$1,145,212$56,780,176