Can I retire at age 63 with 2,470,000?

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 $2,470,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$203,970$202,153$200,381$198,651$196,961$196,049
2 years$100,975$99,095$97,272$95,505$93,791$92,870
3 years$66,648$64,760$62,942$61,191$59,505$58,604
4 years$49,488$47,605$45,805$44,085$42,439$41,565
5 years$39,195$37,323$35,547$33,861$32,262$31,417
6 years$32,335$30,477$28,727$27,079$25,528$24,714
7 years$27,436$25,595$23,872$22,263$20,761$19,978
8 years$23,765$21,939$20,246$18,676$17,223$16,471
9 years$20,910$19,102$17,438$15,908$14,504$13,783
10 years$18,628$16,838$15,202$13,713$12,358$11,668
11 years$16,762$14,989$13,384$11,934$10,629$9,968
12 years$15,208$13,454$11,878$10,468$9,211$8,579
13 years$13,894$12,158$10,612$9,242$8,032$7,430
14 years$12,769$11,052$9,535$8,204$7,041$6,467
15 years$11,795$10,096$8,609$7,316$6,199$5,653
16 years$10,943$9,263$7,805$6,551$5,479$4,959
17 years$10,192$8,531$7,102$5,886$4,858$4,364
18 years$9,526$7,883$6,484$5,304$4,319$3,851
19 years$8,930$7,306$5,935$4,793$3,850$3,406
20 years$8,395$6,789$5,447$4,341$3,439$3,019
21 years$7,911$6,323$5,010$3,940$3,077$2,680
22 years$7,472$5,903$4,618$3,582$2,758$2,383
23 years$7,071$5,521$4,264$3,262$2,476$2,122
24 years$6,705$5,172$3,943$2,975$2,226$1,891
25 years$6,368$4,854$3,652$2,717$2,003$1,688
26 years$6,058$4,562$3,387$2,485$1,804$1,507
27 years$5,771$4,293$3,145$2,274$1,626$1,347
28 years$5,505$4,046$2,924$2,084$1,468$1,205
29 years$5,258$3,817$2,721$1,911$1,325$1,079
30 years$5,028$3,604$2,535$1,754$1,197$966
31 years$4,813$3,407$2,363$1,611$1,083$866
32 years$4,612$3,224$2,205$1,480$979$776
33 years$4,423$3,053$2,058$1,361$886$696
34 years$4,246$2,894$1,923$1,252$802$625
35 years$4,080$2,745$1,798$1,153$727$561
36 years$3,923$2,605$1,682$1,062$658$503
37 years$3,775$2,474$1,574$978$597$452
38 years$3,635$2,351$1,474$902$541$406
39 years$3,502$2,236$1,381$831$491$365
40 years$3,377$2,127$1,295$767$445$328
41 years$3,258$2,025$1,214$707$404$295
42 years$3,145$1,929$1,139$653$366$265
43 years$3,037$1,838$1,069$603$332$238
44 years$2,935$1,752$1,003$557$302$214
45 years$2,837$1,670$942$514$274$192
46 years$2,744$1,593$885$475$249$173
47 years$2,655$1,521$831$439$226$156
48 years$2,570$1,452$781$405$205$140
49 years$2,489$1,386$734$375$186$126
50 years$2,412$1,324$690$346$169$113

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $2,470,000, adding $5,143 every year, while hoping to spend $52,426 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: 74/13/13 Blend
62$2,470,000$2,470,000$2,470,000$2,470,000
63$2,727,245$2,596,335$2,558,050$2,921,305
64$2,949,643$2,667,775$2,587,964$3,121,694
65$3,192,969$2,740,958$2,617,123$3,334,170
66$3,459,301$2,815,914$2,645,446$3,565,542
67$3,750,930$2,892,674$2,672,848$3,817,670
68$4,070,376$2,971,267$2,699,240$4,092,602
69$4,420,417$3,051,721$2,724,527$4,392,594
70$4,804,111$3,134,066$2,748,610$4,720,130
71$5,224,824$3,218,329$2,771,382$5,077,947
72$5,686,267$3,304,539$2,792,735$5,469,058
73$6,192,525$3,392,720$2,812,550$5,896,783
74$6,748,099$3,482,900$2,830,707$6,364,780
75$7,357,946$3,575,102$2,847,076$6,877,077
76$8,027,525$3,669,351$2,861,522$7,438,112
77$8,762,852$3,765,669$2,873,902$8,052,774
78$9,570,553$3,864,076$2,884,068$8,726,450
79$10,457,926$3,964,593$2,891,862$9,465,074
80$11,433,014$4,067,238$2,897,118$10,275,184
81$12,504,675$4,172,026$2,899,665$11,163,983
82$13,682,669$4,278,972$2,899,320$12,139,408
83$14,977,746$4,388,087$2,895,893$13,210,202
84$16,401,755$4,499,381$2,889,184$14,386,001
85$17,967,745$4,612,862$2,878,983$15,677,421
86$19,690,096$4,728,533$2,865,070$17,096,159
87$21,584,650$4,846,396$2,847,214$18,655,104
88$23,668,863$4,966,448$2,825,174$20,368,458
89$25,961,967$5,088,684$2,798,698$22,251,869
90$28,485,152$5,213,094$2,767,519$24,322,582
91$31,261,767$5,339,665$2,731,360$26,599,597
92$34,317,537$5,468,378$2,689,930$29,103,853
93$37,680,808$5,599,211$2,642,925$31,858,421
94$41,382,814$5,732,136$2,590,027$34,888,724
95$45,457,969$5,867,119$2,530,901$38,222,780
96$49,944,195$6,004,120$2,465,198$41,891,458
97$54,883,275$6,143,094$2,392,554$45,928,779
98$60,321,251$6,283,988$2,312,587$50,372,232
99$66,308,857$6,426,742$2,224,898$55,263,126
100$72,901,997$6,571,288$2,129,068$60,646,984