Can I retire at age 63 with 2,480,000?

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 $2,480,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$204,796$202,972$201,192$199,455$197,759$196,430
2 years$101,384$99,496$97,666$95,892$94,171$92,831
3 years$66,918$65,022$63,196$61,439$59,746$58,436
4 years$49,688$47,798$45,991$44,263$42,611$41,342
5 years$39,353$37,474$35,691$33,998$32,392$31,167
6 years$32,465$30,600$28,843$27,189$25,631$24,451
7 years$27,548$25,698$23,969$22,353$20,845$19,711
8 years$23,861$22,028$20,328$18,752$17,293$16,205
9 years$20,995$19,179$17,508$15,972$14,563$13,521
10 years$18,703$16,906$15,264$13,768$12,408$11,412
11 years$16,830$15,050$13,438$11,983$10,672$9,720
12 years$15,270$13,508$11,926$10,510$9,248$8,340
13 years$13,950$12,207$10,655$9,279$8,064$7,199
14 years$12,821$11,096$9,574$8,237$7,069$6,246
15 years$11,842$10,137$8,644$7,346$6,224$5,441
16 years$10,987$9,300$7,837$6,577$5,501$4,758
17 years$10,234$8,565$7,131$5,910$4,878$4,173
18 years$9,564$7,915$6,510$5,326$4,337$3,669
19 years$8,966$7,335$5,959$4,812$3,866$3,234
20 years$8,429$6,816$5,469$4,359$3,453$2,855
21 years$7,943$6,349$5,031$3,956$3,090$2,526
22 years$7,502$5,927$4,637$3,597$2,770$2,237
23 years$7,100$5,543$4,281$3,275$2,486$1,985
24 years$6,732$5,193$3,959$2,987$2,235$1,762
25 years$6,394$4,874$3,667$2,728$2,011$1,567
26 years$6,082$4,581$3,401$2,495$1,811$1,394
27 years$5,794$4,311$3,158$2,283$1,633$1,241
28 years$5,527$4,062$2,936$2,092$1,474$1,106
29 years$5,279$3,832$2,732$1,918$1,331$986
30 years$5,048$3,619$2,545$1,761$1,202$879
31 years$4,832$3,421$2,373$1,617$1,087$785
32 years$4,631$3,237$2,214$1,486$983$701
33 years$4,441$3,066$2,067$1,367$890$626
34 years$4,264$2,905$1,931$1,257$806$559
35 years$4,096$2,756$1,805$1,157$730$500
36 years$3,939$2,616$1,689$1,066$661$447
37 years$3,790$2,484$1,581$982$599$400
38 years$3,650$2,361$1,480$905$543$357
39 years$3,517$2,245$1,387$835$493$320
40 years$3,391$2,136$1,300$770$447$286
41 years$3,271$2,033$1,219$710$405$256
42 years$3,157$1,936$1,143$656$368$229
43 years$3,049$1,845$1,073$605$334$205
44 years$2,947$1,759$1,007$559$303$184
45 years$2,849$1,677$946$516$275$164
46 years$2,755$1,600$888$477$250$147
47 years$2,666$1,527$834$440$227$132
48 years$2,581$1,457$784$407$206$118
49 years$2,499$1,392$737$376$187$106
50 years$2,421$1,330$693$348$170$95

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $2,480,000, adding $3,573 every year, while hoping to spend $31,848 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: 54/23/23 Blend
62$2,480,000$2,480,000$2,480,000$2,480,000
63$2,736,646$2,605,206$2,566,766$2,866,941
64$2,981,897$2,698,975$2,618,866$3,050,676
65$3,251,097$2,796,271$2,671,645$3,246,971
66$3,546,655$2,897,234$2,725,090$3,459,997
67$3,871,224$3,002,008$2,779,191$3,691,364
68$4,227,727$3,110,745$2,833,932$3,942,846
69$4,619,385$3,223,601$2,889,299$4,216,393
70$5,049,745$3,340,741$2,945,274$4,514,152
71$5,522,717$3,462,335$3,001,838$4,838,486
72$6,042,606$3,588,561$3,058,971$5,191,995
73$6,614,155$3,719,604$3,116,650$5,577,541
74$7,242,592$3,855,657$3,174,850$5,998,276
75$7,933,673$3,996,921$3,233,545$6,457,667
76$8,693,743$4,143,606$3,292,704$6,959,533
77$9,529,792$4,295,929$3,352,297$7,508,081
78$10,449,520$4,454,119$3,412,288$8,107,937
79$11,461,412$4,618,413$3,472,641$8,764,202
80$12,574,818$4,789,057$3,533,316$9,482,487
81$13,800,038$4,966,309$3,594,271$10,268,976
82$15,148,423$5,150,439$3,655,460$11,130,476
83$16,632,476$5,341,725$3,716,832$12,074,485
84$18,265,980$5,540,460$3,778,337$13,109,262
85$20,064,115$5,746,949$3,839,917$14,243,901
86$22,043,614$5,961,508$3,901,512$15,488,420
87$24,222,909$6,184,468$3,963,060$16,853,856
88$26,622,314$6,416,175$4,024,491$18,352,361
89$29,264,212$6,656,989$4,085,733$19,997,327
90$32,173,265$6,907,286$4,146,708$21,803,501
91$35,376,651$7,167,456$4,207,336$23,787,132
92$38,904,316$7,437,908$4,267,529$25,966,117
93$42,789,259$7,719,069$4,327,194$28,360,176
94$47,067,843$8,011,382$4,386,234$30,991,031
95$51,780,136$8,315,313$4,444,546$33,882,613
96$56,970,291$8,631,344$4,502,019$37,061,288
97$62,686,962$8,959,981$4,558,538$40,556,103
98$68,983,763$9,301,752$4,613,981$44,399,061
99$75,919,774$9,657,204$4,668,216$48,625,421
100$83,560,098$10,026,914$4,721,108$53,274,032