Can I retire at age 63 with 2,620,000?

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 $2,620,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$216,357$214,430$212,550$210,714$208,922$203,049
2 years$107,108$105,113$103,179$101,305$99,487$93,614
3 years$70,696$68,692$66,764$64,907$63,119$57,430
4 years$52,493$50,496$48,587$46,762$45,017$39,557
5 years$41,575$39,590$37,706$35,918$34,221$29,005
6 years$34,298$32,328$30,472$28,724$27,078$22,110
7 years$29,103$27,149$25,322$23,615$22,022$17,302
8 years$25,208$23,272$21,475$19,810$18,269$13,795
9 years$22,180$20,262$18,497$16,874$15,385$11,153
10 years$19,759$17,860$16,126$14,546$13,109$9,112
11 years$17,780$15,900$14,197$12,659$11,274$7,507
12 years$16,132$14,271$12,599$11,104$9,770$6,225
13 years$14,738$12,897$11,257$9,803$8,520$5,189
14 years$13,544$11,723$10,114$8,702$7,468$4,344
15 years$12,511$10,709$9,132$7,761$6,576$3,649
16 years$11,608$9,825$8,279$6,949$5,812$3,074
17 years$10,811$9,049$7,534$6,243$5,153$2,596
18 years$10,104$8,361$6,877$5,627$4,582$2,197
19 years$9,472$7,749$6,296$5,084$4,084$1,862
20 years$8,905$7,201$5,778$4,605$3,648$1,580
21 years$8,391$6,707$5,315$4,179$3,264$1,343
22 years$7,925$6,261$4,898$3,800$2,926$1,142
23 years$7,501$5,856$4,523$3,460$2,627$973
24 years$7,112$5,487$4,183$3,156$2,361$829
25 years$6,755$5,149$3,874$2,882$2,124$706
26 years$6,426$4,839$3,593$2,635$1,914$602
27 years$6,121$4,554$3,336$2,412$1,725$514
28 years$5,839$4,291$3,102$2,210$1,557$439
29 years$5,577$4,048$2,886$2,027$1,406$375
30 years$5,333$3,823$2,689$1,860$1,270$320
31 years$5,105$3,614$2,506$1,708$1,148$273
32 years$4,892$3,420$2,339$1,570$1,039$234
33 years$4,692$3,239$2,184$1,444$940$200
34 years$4,504$3,070$2,040$1,328$851$171
35 years$4,328$2,911$1,907$1,223$771$146
36 years$4,161$2,763$1,784$1,126$698$125
37 years$4,004$2,625$1,670$1,038$633$107
38 years$3,856$2,494$1,564$956$574$91
39 years$3,715$2,372$1,465$882$520$78
40 years$3,582$2,257$1,373$813$472$67
41 years$3,456$2,148$1,288$750$428$57
42 years$3,336$2,046$1,208$693$389$49
43 years$3,222$1,949$1,134$639$353$42
44 years$3,113$1,858$1,064$590$320$36
45 years$3,009$1,772$999$545$291$30
46 years$2,911$1,690$938$504$264$26
47 years$2,817$1,613$882$465$240$22
48 years$2,726$1,540$828$430$218$19
49 years$2,640$1,470$779$397$198$16
50 years$2,558$1,405$732$367$180$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $2,620,000, adding $5,315 every year, while hoping to spend $25,238 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: 67/8/25 Blend
62$2,620,000$2,620,000$2,620,000$2,620,000
63$2,892,722$2,753,862$2,713,252$3,067,511
64$3,160,927$2,861,949$2,777,293$3,293,762
65$3,455,643$2,974,485$2,842,634$3,537,757
66$3,779,547$3,091,664$2,909,291$3,804,035
67$4,135,589$3,213,684$2,977,280$4,094,795
68$4,527,020$3,340,754$3,046,620$4,412,457
69$4,957,418$3,473,094$3,117,324$4,759,689
70$5,430,730$3,610,930$3,189,409$5,139,426
71$5,951,300$3,754,502$3,262,890$5,554,900
72$6,523,918$3,904,058$3,337,782$6,009,673
73$7,153,858$4,059,858$3,414,099$6,507,663
74$7,846,935$4,222,173$3,491,854$7,053,191
75$8,609,551$4,391,289$3,571,060$7,651,011
76$9,448,765$4,567,502$3,651,730$8,306,363
77$10,372,351$4,751,122$3,733,876$9,025,017
78$11,388,878$4,942,473$3,817,507$9,813,327
79$12,507,784$5,141,895$3,902,634$10,678,296
80$13,739,471$5,349,741$3,989,266$11,627,635
81$15,095,402$5,566,383$4,077,410$12,669,839
82$16,588,204$5,792,207$4,167,075$13,814,269
83$18,231,794$6,027,618$4,258,265$15,071,233
84$20,041,505$6,273,039$4,350,985$16,452,090
85$22,034,233$6,528,913$4,445,238$17,969,354
86$24,228,598$6,795,703$4,541,026$19,636,810
87$26,645,114$7,073,892$4,638,350$21,469,647
88$29,306,389$7,363,986$4,737,208$23,484,599
89$32,237,333$7,666,513$4,837,597$25,700,102
90$35,465,397$7,982,028$4,939,512$28,136,469
91$39,020,829$8,311,109$5,042,947$30,816,081
92$42,936,961$8,654,361$5,147,893$33,763,596
93$47,250,522$9,012,416$5,254,339$37,006,185
94$52,001,987$9,385,936$5,362,271$40,573,782
95$57,235,957$9,775,614$5,471,675$44,499,373
96$63,001,580$10,182,174$5,582,531$48,819,302
97$69,353,014$10,606,373$5,694,818$53,573,615
98$76,349,940$11,049,005$5,808,514$58,806,437
99$84,058,125$11,510,897$5,923,590$64,566,389
100$92,550,040$11,992,917$6,040,017$70,907,045