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%19.2%
1 years$204,796$202,972$201,192$199,455$197,759$190,439
2 years$101,384$99,496$97,666$95,892$94,171$86,879
3 years$66,918$65,022$63,196$61,439$59,746$52,711
4 years$49,688$47,798$45,991$44,263$42,611$35,888
5 years$39,353$37,474$35,691$33,998$32,392$25,997
6 years$32,465$30,600$28,843$27,189$25,631$19,569
7 years$27,548$25,698$23,969$22,353$20,845$15,114
8 years$23,861$22,028$20,328$18,752$17,293$11,888
9 years$20,995$19,179$17,508$15,972$14,563$9,477
10 years$18,703$16,906$15,264$13,768$12,408$7,632
11 years$16,830$15,050$13,438$11,983$10,672$6,194
12 years$15,270$13,508$11,926$10,510$9,248$5,058
13 years$13,950$12,207$10,655$9,279$8,064$4,151
14 years$12,821$11,096$9,574$8,237$7,069$3,420
15 years$11,842$10,137$8,644$7,346$6,224$2,827
16 years$10,987$9,300$7,837$6,577$5,501$2,342
17 years$10,234$8,565$7,131$5,910$4,878$1,945
18 years$9,564$7,915$6,510$5,326$4,337$1,618
19 years$8,966$7,335$5,959$4,812$3,866$1,347
20 years$8,429$6,816$5,469$4,359$3,453$1,124
21 years$7,943$6,349$5,031$3,956$3,090$938
22 years$7,502$5,927$4,637$3,597$2,770$784
23 years$7,100$5,543$4,281$3,275$2,486$655
24 years$6,732$5,193$3,959$2,987$2,235$548
25 years$6,394$4,874$3,667$2,728$2,011$459
26 years$6,082$4,581$3,401$2,495$1,811$384
27 years$5,794$4,311$3,158$2,283$1,633$322
28 years$5,527$4,062$2,936$2,092$1,474$269
29 years$5,279$3,832$2,732$1,918$1,331$226
30 years$5,048$3,619$2,545$1,761$1,202$189
31 years$4,832$3,421$2,373$1,617$1,087$159
32 years$4,631$3,237$2,214$1,486$983$133
33 years$4,441$3,066$2,067$1,367$890$111
34 years$4,264$2,905$1,931$1,257$806$93
35 years$4,096$2,756$1,805$1,157$730$78
36 years$3,939$2,616$1,689$1,066$661$66
37 years$3,790$2,484$1,581$982$599$55
38 years$3,650$2,361$1,480$905$543$46
39 years$3,517$2,245$1,387$835$493$39
40 years$3,391$2,136$1,300$770$447$33
41 years$3,271$2,033$1,219$710$405$27
42 years$3,157$1,936$1,143$656$368$23
43 years$3,049$1,845$1,073$605$334$19
44 years$2,947$1,759$1,007$559$303$16
45 years$2,849$1,677$946$516$275$14
46 years$2,755$1,600$888$477$250$11
47 years$2,666$1,527$834$440$227$10
48 years$2,581$1,457$784$407$206$8
49 years$2,499$1,392$737$376$187$7
50 years$2,421$1,330$693$348$170$6

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 $2,176 every year, while hoping to spend $33,142 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: 54/26/20 Blend
62$2,480,000$2,480,000$2,480,000$2,480,000
63$2,735,205$2,603,765$2,565,325$2,867,902
64$2,978,933$2,696,086$2,616,000$3,051,389
65$3,246,410$2,791,821$2,667,262$3,247,349
66$3,540,025$2,891,101$2,719,096$3,459,950
67$3,862,406$2,994,063$2,771,485$3,690,791
68$4,216,451$3,100,852$2,824,409$3,941,632
69$4,605,351$3,211,616$2,877,849$4,214,408
70$5,032,622$3,326,510$2,931,782$4,511,250
71$5,502,136$3,445,696$2,986,184$4,834,500
72$6,018,161$3,569,343$3,041,028$5,186,738
73$6,585,397$3,697,624$3,096,286$5,570,804
74$7,209,023$3,830,722$3,151,927$5,989,823
75$7,894,744$3,968,828$3,207,917$6,447,235
76$8,648,845$4,112,139$3,264,220$6,946,826
77$9,478,254$4,260,860$3,320,797$7,492,768
78$10,390,600$4,415,206$3,377,608$8,089,649
79$11,394,290$4,575,400$3,434,607$8,742,526
80$12,498,588$4,741,675$3,491,747$9,456,965
81$13,713,700$4,914,273$3,548,977$10,239,093
82$15,050,872$5,093,447$3,606,241$11,095,662
83$16,522,494$5,279,459$3,663,483$12,034,104
84$18,142,218$5,472,583$3,720,641$13,062,606
85$19,925,090$5,673,104$3,777,647$14,190,185
86$21,887,683$5,881,321$3,834,433$15,426,770
87$24,048,264$6,097,543$3,890,923$16,783,301
88$26,426,957$6,322,092$3,947,039$18,271,826
89$29,045,939$6,555,307$4,002,697$19,905,615
90$31,929,644$6,797,537$4,057,807$21,699,287
91$35,105,000$7,049,148$4,112,276$23,668,947
92$38,601,676$7,310,522$4,166,003$25,832,332
93$42,452,366$7,582,057$4,218,883$28,208,987
94$46,693,096$7,864,166$4,270,804$30,820,438
95$51,363,563$8,157,282$4,321,648$33,690,404
96$56,507,513$8,461,855$4,371,290$36,845,012
97$62,173,150$8,778,356$4,419,598$40,313,050
98$68,413,590$9,107,274$4,466,433$44,126,232
99$75,287,367$9,449,121$4,511,649$48,319,498
100$82,858,979$9,804,430$4,555,091$52,931,345