Can I retire at age 63 with 2,520,000?

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 $2,520,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$208,099$206,246$204,437$202,672$200,948$197,701
2 years$103,019$101,101$99,241$97,438$95,690$92,427
3 years$67,997$66,070$64,216$62,430$60,709$57,533
4 years$50,490$48,569$46,733$44,977$43,299$40,232
5 years$39,988$38,079$36,266$34,547$32,915$29,968
6 years$32,989$31,094$29,309$27,627$26,044$23,221
7 years$27,992$26,113$24,356$22,714$21,181$18,481
8 years$24,246$22,383$20,655$19,054$17,572$14,995
9 years$21,333$19,489$17,791$16,230$14,798$12,343
10 years$19,005$17,178$15,510$13,990$12,609$10,274
11 years$17,101$15,293$13,655$12,176$10,844$8,626
12 years$15,516$13,726$12,118$10,680$9,397$7,294
13 years$14,175$12,404$10,827$9,429$8,194$6,203
14 years$13,027$11,275$9,728$8,370$7,183$5,300
15 years$12,033$10,300$8,783$7,464$6,325$4,546
16 years$11,165$9,450$7,963$6,683$5,590$3,912
17 years$10,399$8,703$7,246$6,005$4,956$3,376
18 years$9,719$8,042$6,615$5,412$4,407$2,921
19 years$9,111$7,453$6,056$4,890$3,928$2,531
20 years$8,565$6,926$5,558$4,429$3,508$2,198
21 years$8,071$6,451$5,112$4,019$3,140$1,911
22 years$7,623$6,022$4,711$3,655$2,814$1,664
23 years$7,214$5,632$4,350$3,328$2,526$1,450
24 years$6,840$5,277$4,023$3,036$2,271$1,265
25 years$6,497$4,952$3,726$2,772$2,043$1,104
26 years$6,180$4,654$3,456$2,535$1,840$965
27 years$5,888$4,380$3,209$2,320$1,659$843
28 years$5,617$4,128$2,983$2,126$1,497$738
29 years$5,364$3,894$2,776$1,949$1,352$646
30 years$5,130$3,677$2,586$1,789$1,222$565
31 years$4,910$3,476$2,411$1,643$1,104$495
32 years$4,705$3,289$2,249$1,510$999$434
33 years$4,513$3,115$2,100$1,389$904$380
34 years$4,332$2,952$1,962$1,278$819$333
35 years$4,162$2,800$1,835$1,176$741$292
36 years$4,002$2,658$1,716$1,083$672$256
37 years$3,851$2,524$1,606$998$609$224
38 years$3,708$2,399$1,504$920$552$197
39 years$3,573$2,281$1,409$848$501$173
40 years$3,445$2,170$1,321$782$454$152
41 years$3,324$2,066$1,239$722$412$133
42 years$3,208$1,968$1,162$666$374$117
43 years$3,099$1,875$1,090$615$339$102
44 years$2,994$1,787$1,023$568$308$90
45 years$2,895$1,704$961$524$280$79
46 years$2,800$1,626$903$484$254$69
47 years$2,709$1,551$848$447$230$61
48 years$2,622$1,481$797$414$209$53
49 years$2,540$1,414$749$382$190$47
50 years$2,460$1,351$704$353$173$41

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $2,520,000, adding $6,935 every year, while hoping to spend $50,009 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: 78/7/15 Blend
62$2,520,000$2,520,000$2,520,000$2,520,000
63$2,784,193$2,650,633$2,611,573$2,992,047
64$3,014,972$2,727,305$2,645,852$3,206,672
65$3,267,614$2,806,058$2,679,603$3,434,995
66$3,544,296$2,886,941$2,712,755$3,684,051
67$3,847,417$2,970,003$2,745,235$3,955,893
68$4,179,617$3,055,296$2,776,963$4,252,782
69$4,543,803$3,142,871$2,807,857$4,577,209
70$4,943,179$3,232,780$2,837,829$4,931,917
71$5,381,273$3,325,076$2,866,785$5,319,929
72$5,861,969$3,419,812$2,894,629$5,744,573
73$6,389,549$3,517,041$2,921,258$6,209,516
74$6,968,726$3,616,819$2,946,564$6,718,798
75$7,604,694$3,719,201$2,970,431$7,276,870
76$8,303,173$3,824,242$2,992,740$7,888,633
77$9,070,464$3,931,998$3,013,365$8,559,491
78$9,913,511$4,042,525$3,032,173$9,295,393
79$10,839,962$4,155,882$3,049,023$10,102,896
80$11,858,242$4,272,123$3,063,769$10,989,225
81$12,977,633$4,391,308$3,076,255$11,962,339
82$14,208,362$4,513,492$3,086,321$13,031,007
83$15,561,696$4,638,735$3,093,794$14,204,892
84$17,050,049$4,767,093$3,098,496$15,494,641
85$18,687,098$4,898,624$3,100,239$16,911,985
86$20,487,911$5,033,386$3,098,826$18,469,851
87$22,469,090$5,171,434$3,094,050$20,182,482
88$24,648,930$5,312,827$3,085,693$22,065,573
89$27,047,585$5,457,619$3,073,527$24,136,417
90$29,687,263$5,605,867$3,057,315$26,414,072
91$32,592,434$5,757,625$3,036,806$28,919,536
92$35,790,061$5,912,947$3,011,737$31,675,947
93$39,309,851$6,071,886$2,981,834$34,708,805
94$43,184,540$6,234,492$2,946,809$38,046,206
95$47,450,197$6,400,816$2,906,362$41,719,111
96$52,146,568$6,570,907$2,860,175$45,761,638
97$57,317,446$6,744,810$2,807,920$50,211,386
98$63,011,090$6,922,570$2,749,249$55,109,782
99$69,280,674$7,104,229$2,683,802$60,502,483
100$76,184,793$7,289,826$2,611,200$66,439,797