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%14.7%
1 years$204,796$202,972$201,192$199,455$197,759$193,924
2 years$101,384$99,496$97,666$95,892$94,171$90,323
3 years$66,918$65,022$63,196$61,439$59,746$56,005
4 years$49,688$47,798$45,991$44,263$42,611$39,006
5 years$39,353$37,474$35,691$33,998$32,392$28,933
6 years$32,465$30,600$28,843$27,189$25,631$22,322
7 years$27,548$25,698$23,969$22,353$20,845$17,686
8 years$23,861$22,028$20,328$18,752$17,293$14,284
9 years$20,995$19,179$17,508$15,972$14,563$11,702
10 years$18,703$16,906$15,264$13,768$12,408$9,692
11 years$16,830$15,050$13,438$11,983$10,672$8,097
12 years$15,270$13,508$11,926$10,510$9,248$6,811
13 years$13,950$12,207$10,655$9,279$8,064$5,762
14 years$12,821$11,096$9,574$8,237$7,069$4,897
15 years$11,842$10,137$8,644$7,346$6,224$4,177
16 years$10,987$9,300$7,837$6,577$5,501$3,575
17 years$10,234$8,565$7,131$5,910$4,878$3,067
18 years$9,564$7,915$6,510$5,326$4,337$2,638
19 years$8,966$7,335$5,959$4,812$3,866$2,273
20 years$8,429$6,816$5,469$4,359$3,453$1,961
21 years$7,943$6,349$5,031$3,956$3,090$1,695
22 years$7,502$5,927$4,637$3,597$2,770$1,467
23 years$7,100$5,543$4,281$3,275$2,486$1,270
24 years$6,732$5,193$3,959$2,987$2,235$1,101
25 years$6,394$4,874$3,667$2,728$2,011$955
26 years$6,082$4,581$3,401$2,495$1,811$829
27 years$5,794$4,311$3,158$2,283$1,633$720
28 years$5,527$4,062$2,936$2,092$1,474$626
29 years$5,279$3,832$2,732$1,918$1,331$544
30 years$5,048$3,619$2,545$1,761$1,202$473
31 years$4,832$3,421$2,373$1,617$1,087$412
32 years$4,631$3,237$2,214$1,486$983$358
33 years$4,441$3,066$2,067$1,367$890$312
34 years$4,264$2,905$1,931$1,257$806$272
35 years$4,096$2,756$1,805$1,157$730$236
36 years$3,939$2,616$1,689$1,066$661$206
37 years$3,790$2,484$1,581$982$599$179
38 years$3,650$2,361$1,480$905$543$156
39 years$3,517$2,245$1,387$835$493$136
40 years$3,391$2,136$1,300$770$447$119
41 years$3,271$2,033$1,219$710$405$103
42 years$3,157$1,936$1,143$656$368$90
43 years$3,049$1,845$1,073$605$334$79
44 years$2,947$1,759$1,007$559$303$68
45 years$2,849$1,677$946$516$275$60
46 years$2,755$1,600$888$477$250$52
47 years$2,666$1,527$834$440$227$45
48 years$2,581$1,457$784$407$206$39
49 years$2,499$1,392$737$376$187$34
50 years$2,421$1,330$693$348$170$30

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 $4,025 every year, while hoping to spend $39,459 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: 39/35/26 Blend
62$2,480,000$2,480,000$2,480,000$2,480,000
63$2,737,112$2,605,672$2,567,232$2,822,597
64$2,974,313$2,691,366$2,611,250$2,970,860
65$3,234,386$2,779,936$2,655,420$3,127,109
66$3,519,623$2,871,482$2,699,706$3,295,299
67$3,832,547$2,966,107$2,744,068$3,476,541
68$4,175,937$3,063,917$2,788,465$3,672,060
69$4,552,857$3,165,022$2,832,853$3,883,199
70$4,966,677$3,269,538$2,877,182$4,111,436
71$5,421,114$3,377,581$2,921,404$4,358,400
72$5,920,261$3,489,276$2,965,464$4,625,879
73$6,468,626$3,604,748$3,009,305$4,915,843
74$7,071,175$3,724,131$3,052,867$5,230,458
75$7,733,382$3,847,560$3,096,084$5,572,109
76$8,461,273$3,975,176$3,138,889$5,943,421
77$9,261,490$4,107,127$3,181,210$6,347,282
78$10,141,351$4,243,565$3,222,969$6,786,873
79$11,108,915$4,384,646$3,264,085$7,265,693
80$12,173,065$4,530,535$3,304,472$7,787,597
81$13,343,586$4,681,399$3,344,041$8,356,829
82$14,631,260$4,837,416$3,382,694$8,978,060
83$16,047,965$4,998,766$3,420,331$9,656,436
84$17,606,790$5,165,638$3,456,845$10,397,624
85$19,322,157$5,338,228$3,492,123$11,207,861
86$21,209,954$5,516,738$3,526,046$12,094,020
87$23,287,689$5,701,379$3,558,489$13,063,670
88$25,574,655$5,892,368$3,589,320$14,125,146
89$28,092,108$6,089,932$3,618,400$15,287,629
90$30,863,469$6,294,305$3,645,582$16,561,232
91$33,914,547$6,505,730$3,670,713$17,957,097
92$37,273,779$6,724,459$3,693,631$19,487,493
93$40,972,502$6,950,754$3,714,164$21,165,939
94$45,045,243$7,184,887$3,732,135$23,007,325
95$49,530,050$7,427,140$3,747,354$25,028,059
96$54,468,849$7,677,804$3,759,624$27,246,211
97$59,907,838$7,937,182$3,768,738$29,681,694
98$65,897,923$8,205,590$3,774,476$32,356,442
99$72,495,201$8,483,353$3,776,611$35,294,623
100$79,761,485$8,770,811$3,774,901$38,522,865