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

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 $2,540,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$209,751$207,882$206,060$204,280$202,543$200,511
2 years$103,837$101,903$100,029$98,212$96,449$94,403
3 years$68,537$66,595$64,725$62,925$61,191$59,194
4 years$50,891$48,954$47,103$45,334$43,642$41,709
5 years$40,305$38,381$36,554$34,821$33,176$31,313
6 years$33,251$31,341$29,541$27,847$26,251$24,460
7 years$28,214$26,320$24,549$22,894$21,349$19,631
8 years$24,438$22,561$20,819$19,205$17,711$16,066
9 years$21,503$19,643$17,932$16,359$14,915$13,342
10 years$19,156$17,315$15,633$14,101$12,709$11,207
11 years$17,237$15,414$13,763$12,272$10,930$9,498
12 years$15,639$13,835$12,215$10,765$9,472$8,109
13 years$14,288$12,503$10,913$9,503$8,259$6,964
14 years$13,131$11,365$9,805$8,436$7,240$6,010
15 years$12,129$10,382$8,853$7,524$6,375$5,208
16 years$11,253$9,525$8,026$6,737$5,634$4,529
17 years$10,481$8,772$7,304$6,053$4,996$3,950
18 years$9,796$8,106$6,667$5,455$4,442$3,453
19 years$9,183$7,513$6,104$4,929$3,959$3,026
20 years$8,633$6,981$5,602$4,464$3,536$2,657
21 years$8,135$6,503$5,152$4,051$3,165$2,336
22 years$7,683$6,070$4,749$3,684$2,837$2,057
23 years$7,272$5,677$4,385$3,355$2,546$1,813
24 years$6,895$5,319$4,055$3,060$2,289$1,601
25 years$6,549$4,992$3,756$2,794$2,059$1,414
26 years$6,229$4,691$3,483$2,555$1,855$1,250
27 years$5,934$4,415$3,235$2,339$1,673$1,106
28 years$5,661$4,160$3,007$2,143$1,509$979
29 years$5,407$3,925$2,798$1,965$1,363$867
30 years$5,170$3,707$2,606$1,803$1,231$769
31 years$4,949$3,504$2,430$1,656$1,113$682
32 years$4,743$3,315$2,267$1,522$1,007$605
33 years$4,549$3,140$2,117$1,400$911$536
34 years$4,367$2,976$1,978$1,288$825$476
35 years$4,195$2,822$1,849$1,185$747$423
36 years$4,034$2,679$1,730$1,092$677$375
37 years$3,882$2,544$1,619$1,006$614$333
38 years$3,738$2,418$1,516$927$556$296
39 years$3,602$2,299$1,421$855$505$263
40 years$3,473$2,188$1,331$789$458$234
41 years$3,350$2,082$1,248$728$415$208
42 years$3,234$1,983$1,171$671$377$185
43 years$3,123$1,890$1,099$620$342$164
44 years$3,018$1,801$1,032$572$310$146
45 years$2,918$1,718$969$529$282$130
46 years$2,822$1,639$910$488$256$115
47 years$2,731$1,564$855$451$232$103
48 years$2,643$1,493$803$417$211$91
49 years$2,560$1,425$755$385$192$81
50 years$2,480$1,362$710$356$174$72

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 $3,749 every year, while hoping to spend $38,025 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: 46/25/29 Blend
62$2,540,000$2,540,000$2,540,000$2,540,000
63$2,802,947$2,668,327$2,628,957$2,908,310
64$3,048,389$2,758,617$2,676,569$3,073,732
65$3,317,592$2,852,056$2,724,501$3,249,154
66$3,612,939$2,948,760$2,772,725$3,438,776
67$3,937,056$3,048,846$2,821,208$3,643,949
68$4,292,834$3,152,437$2,869,916$3,866,162
69$4,683,458$3,259,662$2,918,813$4,107,051
70$5,112,438$3,370,652$2,967,861$4,368,420
71$5,583,638$3,485,546$3,017,016$4,652,250
72$6,101,318$3,604,486$3,066,234$4,960,725
73$6,670,167$3,727,621$3,115,468$5,296,247
74$7,295,355$3,855,105$3,164,667$5,661,461
75$7,982,573$3,987,098$3,213,776$6,059,279
76$8,738,096$4,123,765$3,262,737$6,492,908
77$9,568,833$4,265,281$3,311,490$6,965,877
78$10,482,397$4,411,823$3,359,968$7,482,073
79$11,487,178$4,563,579$3,408,104$8,045,776
80$12,592,417$4,720,741$3,455,822$8,661,702
81$13,808,297$4,883,511$3,503,046$9,335,040
82$15,146,038$5,052,097$3,549,692$10,071,508
83$16,618,001$5,226,717$3,595,674$10,877,405
84$18,237,807$5,407,596$3,640,899$11,759,665
85$20,020,463$5,594,968$3,685,269$12,725,929
86$21,982,506$5,789,078$3,728,681$13,784,613
87$24,142,156$5,990,177$3,771,026$14,944,986
88$26,519,489$6,198,529$3,812,189$16,217,260
89$29,136,627$6,414,407$3,852,048$17,612,685
90$32,017,947$6,638,097$3,890,475$19,143,654
91$35,190,306$6,869,892$3,927,335$20,823,819
92$38,683,302$7,110,102$3,962,485$22,668,221
93$42,529,547$7,359,044$3,995,776$24,693,432
94$46,764,975$7,617,052$4,027,049$26,917,707
95$51,429,186$7,884,471$4,056,139$29,361,160
96$56,565,813$8,161,660$4,082,870$32,045,953
97$62,222,938$8,448,994$4,107,058$34,996,503
98$68,453,543$8,746,860$4,128,509$38,239,710
99$75,316,012$9,055,663$4,147,022$41,805,217
100$82,874,678$9,375,824$4,162,381$45,725,682