Can I retire at age 63 with 2,460,000?

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 $2,460,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.1%
1 years$203,145$201,335$199,570$197,846$196,164$190,495
2 years$100,567$98,694$96,878$95,118$93,411$87,745
3 years$66,378$64,497$62,687$60,943$59,264$53,778
4 years$49,288$47,412$45,620$43,906$42,268$37,004
5 years$39,036$37,172$35,403$33,724$32,131$27,104
6 years$32,204$30,354$28,611$26,970$25,424$20,638
7 years$27,325$25,491$23,776$22,173$20,677$16,132
8 years$23,668$21,850$20,164$18,600$17,153$12,847
9 years$20,825$19,025$17,367$15,843$14,446$10,374
10 years$18,552$16,769$15,141$13,657$12,308$8,465
11 years$16,694$14,929$13,330$11,886$10,586$6,965
12 years$15,146$13,399$11,830$10,426$9,173$5,768
13 years$13,838$12,109$10,569$9,204$7,999$4,801
14 years$12,717$11,007$9,496$8,170$7,012$4,014
15 years$11,747$10,055$8,574$7,287$6,174$3,367
16 years$10,899$9,225$7,774$6,524$5,457$2,833
17 years$10,151$8,496$7,074$5,862$4,838$2,389
18 years$9,487$7,851$6,457$5,283$4,302$2,018
19 years$8,894$7,276$5,911$4,774$3,834$1,708
20 years$8,361$6,761$5,425$4,323$3,425$1,448
21 years$7,879$6,298$4,990$3,924$3,065$1,228
22 years$7,441$5,879$4,599$3,568$2,747$1,043
23 years$7,043$5,498$4,247$3,249$2,466$887
24 years$6,678$5,152$3,927$2,963$2,217$754
25 years$6,342$4,834$3,637$2,706$1,995$642
26 years$6,033$4,544$3,374$2,474$1,797$547
27 years$5,748$4,276$3,133$2,265$1,620$466
28 years$5,483$4,029$2,912$2,075$1,462$397
29 years$5,237$3,801$2,710$1,903$1,320$338
30 years$5,007$3,590$2,524$1,746$1,193$288
31 years$4,793$3,394$2,353$1,604$1,078$246
32 years$4,593$3,211$2,196$1,474$975$210
33 years$4,405$3,041$2,050$1,356$883$179
34 years$4,229$2,882$1,916$1,247$799$153
35 years$4,063$2,734$1,791$1,148$724$130
36 years$3,907$2,595$1,675$1,057$656$111
37 years$3,760$2,464$1,568$974$594$95
38 years$3,620$2,342$1,468$898$539$81
39 years$3,488$2,227$1,376$828$489$69
40 years$3,363$2,119$1,290$764$443$59
41 years$3,245$2,017$1,209$705$402$50
42 years$3,132$1,921$1,134$650$365$43
43 years$3,025$1,830$1,064$600$331$37
44 years$2,923$1,744$999$554$301$31
45 years$2,826$1,664$938$512$273$27
46 years$2,733$1,587$881$473$248$23
47 years$2,645$1,514$828$437$225$20
48 years$2,560$1,446$778$404$204$17
49 years$2,479$1,381$731$373$186$14
50 years$2,402$1,319$687$345$169$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $2,460,000, adding $4,256 every year, while hoping to spend $36,827 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: 60/29/11 Blend
62$2,460,000$2,460,000$2,460,000$2,460,000
63$2,715,310$2,584,930$2,546,800$2,870,910
64$2,953,088$2,672,408$2,592,934$3,063,432
65$3,213,885$2,762,938$2,639,380$3,268,789
66$3,500,010$2,856,631$2,686,108$3,491,890
67$3,814,007$2,953,601$2,733,088$3,734,449
68$4,158,677$3,053,969$2,780,287$3,998,350
69$4,537,105$3,157,857$2,827,671$4,285,669
70$4,952,693$3,265,395$2,875,200$4,598,686
71$5,409,183$3,376,714$2,922,835$4,939,915
72$5,910,702$3,491,956$2,970,532$5,312,121
73$6,461,793$3,611,262$3,018,245$5,718,346
74$7,067,465$3,734,782$3,065,925$6,161,942
75$7,733,232$3,862,672$3,113,519$6,646,596
76$8,465,171$3,995,092$3,160,971$7,176,369
77$9,269,976$4,132,210$3,208,222$7,755,733
78$10,155,025$4,274,200$3,255,209$8,389,610
79$11,128,444$4,421,241$3,301,864$9,083,420
80$12,199,186$4,573,523$3,348,117$9,843,134
81$13,377,116$4,731,238$3,393,892$10,675,325
82$14,673,104$4,894,591$3,439,110$11,587,231
83$16,099,125$5,063,791$3,483,685$12,586,827
84$17,668,376$5,239,057$3,527,528$13,682,894
85$19,395,395$5,420,615$3,570,545$14,885,103
86$21,296,203$5,608,703$3,612,636$16,204,107
87$23,388,451$5,803,565$3,653,695$17,651,642
88$25,691,590$6,005,456$3,693,610$19,240,631
89$28,227,050$6,214,642$3,732,264$20,985,314
90$31,018,448$6,431,398$3,769,534$22,901,374
91$34,091,803$6,656,010$3,805,287$25,006,090
92$37,475,790$6,888,777$3,839,386$27,318,493
93$41,202,001$7,130,008$3,871,687$29,859,554
94$45,305,252$7,380,025$3,902,035$32,652,371
95$49,823,905$7,639,164$3,930,270$35,722,395
96$54,800,232$7,907,772$3,956,223$39,097,661
97$60,280,815$8,186,212$3,979,716$42,809,061
98$66,316,982$8,474,860$4,000,561$46,890,626
99$72,965,296$8,774,110$4,018,561$51,379,852
100$80,288,083$9,084,368$4,033,509$56,318,051