Can I retire at age 63 with 2,540,000?

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 $2,540,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$209,751$207,882$206,060$204,280$202,543$195,825
2 years$103,837$101,903$100,029$98,212$96,449$89,745
3 years$68,537$66,595$64,725$62,925$61,191$54,713
4 years$50,891$48,954$47,103$45,334$43,642$37,439
5 years$40,305$38,381$36,554$34,821$33,176$27,264
6 years$33,251$31,341$29,541$27,847$26,251$20,636
7 years$28,214$26,320$24,549$22,894$21,349$16,029
8 years$24,438$22,561$20,819$19,205$17,711$12,683
9 years$21,503$19,643$17,932$16,359$14,915$10,172
10 years$19,156$17,315$15,633$14,101$12,709$8,244
11 years$17,237$15,414$13,763$12,272$10,930$6,735
12 years$15,639$13,835$12,215$10,765$9,472$5,537
13 years$14,288$12,503$10,913$9,503$8,259$4,575
14 years$13,131$11,365$9,805$8,436$7,240$3,795
15 years$12,129$10,382$8,853$7,524$6,375$3,159
16 years$11,253$9,525$8,026$6,737$5,634$2,637
17 years$10,481$8,772$7,304$6,053$4,996$2,206
18 years$9,796$8,106$6,667$5,455$4,442$1,848
19 years$9,183$7,513$6,104$4,929$3,959$1,551
20 years$8,633$6,981$5,602$4,464$3,536$1,304
21 years$8,135$6,503$5,152$4,051$3,165$1,097
22 years$7,683$6,070$4,749$3,684$2,837$924
23 years$7,272$5,677$4,385$3,355$2,546$778
24 years$6,895$5,319$4,055$3,060$2,289$656
25 years$6,549$4,992$3,756$2,794$2,059$554
26 years$6,229$4,691$3,483$2,555$1,855$467
27 years$5,934$4,415$3,235$2,339$1,673$395
28 years$5,661$4,160$3,007$2,143$1,509$333
29 years$5,407$3,925$2,798$1,965$1,363$281
30 years$5,170$3,707$2,606$1,803$1,231$238
31 years$4,949$3,504$2,430$1,656$1,113$201
32 years$4,743$3,315$2,267$1,522$1,007$170
33 years$4,549$3,140$2,117$1,400$911$144
34 years$4,367$2,976$1,978$1,288$825$121
35 years$4,195$2,822$1,849$1,185$747$103
36 years$4,034$2,679$1,730$1,092$677$87
37 years$3,882$2,544$1,619$1,006$614$73
38 years$3,738$2,418$1,516$927$556$62
39 years$3,602$2,299$1,421$855$505$53
40 years$3,473$2,188$1,331$789$458$44
41 years$3,350$2,082$1,248$728$415$38
42 years$3,234$1,983$1,171$671$377$32
43 years$3,123$1,890$1,099$620$342$27
44 years$3,018$1,801$1,032$572$310$23
45 years$2,918$1,718$969$529$282$19
46 years$2,822$1,639$910$488$256$16
47 years$2,731$1,564$855$451$232$14
48 years$2,643$1,493$803$417$211$12
49 years$2,560$1,425$755$385$192$10
50 years$2,480$1,362$710$356$174$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $2,540,000, adding $5,472 every year, while hoping to spend $38,212 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: 72/22/6 Blend
62$2,540,000$2,540,000$2,540,000$2,540,000
63$2,804,724$2,670,104$2,630,734$3,004,232
64$3,050,149$2,760,282$2,678,207$3,226,710
65$3,319,326$2,853,598$2,725,989$3,464,894
66$3,614,638$2,950,165$2,774,050$3,724,587
67$3,938,710$3,050,102$2,822,359$4,007,895
68$4,294,431$3,153,529$2,870,881$4,317,137
69$4,684,986$3,260,575$2,919,578$4,654,868
70$5,113,882$3,371,371$2,968,412$5,023,897
71$5,584,982$3,486,053$3,017,338$5,427,321
72$6,102,544$3,604,763$3,066,312$5,868,545
73$6,671,256$3,727,648$3,115,286$6,351,321
74$7,296,283$3,854,862$3,164,207$6,879,781
75$7,983,316$3,986,563$3,213,021$7,458,472
76$8,738,626$4,122,916$3,261,668$8,092,405
77$9,569,119$4,264,092$3,310,087$8,787,094
78$10,482,406$4,410,269$3,358,212$9,548,617
79$11,486,870$4,561,631$3,405,971$10,383,663
80$12,591,751$4,718,371$3,453,291$11,299,602
81$13,807,226$4,880,688$3,500,093$12,304,551
82$15,144,510$5,048,789$3,546,293$13,407,452
83$16,615,959$5,222,888$3,591,802$14,618,152
84$18,235,186$5,403,209$3,636,527$15,947,499
85$20,017,194$5,589,985$3,680,369$17,407,443
86$21,978,509$5,783,456$3,723,224$19,011,148
87$24,137,345$5,983,873$3,764,980$20,773,115
88$26,513,769$6,191,498$3,805,521$22,709,319
89$29,129,892$6,406,600$3,844,725$24,837,361
90$32,010,079$6,629,461$3,882,461$27,176,628
91$35,181,176$6,860,374$3,918,593$29,748,481
92$38,672,767$7,099,643$3,952,976$32,576,455
93$42,517,448$7,347,584$3,985,459$35,686,475
94$46,751,138$7,604,526$4,015,882$39,107,109
95$51,413,417$7,870,810$4,044,077$42,869,830
96$56,547,898$8,146,793$4,069,867$47,009,312
97$62,202,642$8,432,844$4,093,066$51,563,764
98$68,430,606$8,729,348$4,113,478$56,575,279
99$75,290,146$9,036,704$4,130,898$62,090,242
100$82,845,567$9,355,329$4,145,109$68,159,755