Can I retire at age 63 with 2,720,000?

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 $2,720,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$224,615$222,614$220,662$218,757$216,897$212,344
2 years$111,196$109,125$107,118$105,172$103,284$98,719
3 years$73,394$71,314$69,312$67,384$65,528$61,092
4 years$54,497$52,423$50,442$48,547$46,735$42,463
5 years$43,162$41,101$39,145$37,289$35,527$31,432
6 years$35,607$33,562$31,635$29,820$28,111$24,196
7 years$30,213$28,185$26,289$24,517$22,862$19,128
8 years$26,170$24,160$22,295$20,566$18,966$15,413
9 years$23,027$21,035$19,203$17,518$15,972$12,596
10 years$20,513$18,542$16,741$15,101$13,609$10,407
11 years$18,458$16,507$14,739$13,142$11,704$8,673
12 years$16,747$14,815$13,080$11,527$10,143$7,277
13 years$15,300$13,389$11,686$10,177$8,845$6,139
14 years$14,061$12,170$10,500$9,034$7,753$5,203
15 years$12,988$11,118$9,480$8,057$6,827$4,426
16 years$12,051$10,200$8,595$7,214$6,033$3,777
17 years$11,224$9,394$7,821$6,482$5,350$3,232
18 years$10,490$8,680$7,140$5,841$4,757$2,771
19 years$9,834$8,045$6,536$5,278$4,240$2,381
20 years$9,244$7,476$5,999$4,780$3,787$2,048
21 years$8,712$6,963$5,518$4,338$3,389$1,765
22 years$8,228$6,500$5,085$3,945$3,038$1,522
23 years$7,787$6,079$4,695$3,592$2,727$1,314
24 years$7,383$5,696$4,342$3,277$2,451$1,136
25 years$7,013$5,345$4,022$2,992$2,205$982
26 years$6,671$5,024$3,730$2,736$1,987$850
27 years$6,355$4,728$3,464$2,504$1,791$736
28 years$6,062$4,455$3,220$2,295$1,616$637
29 years$5,790$4,203$2,997$2,104$1,459$552
30 years$5,537$3,969$2,791$1,931$1,319$479
31 years$5,300$3,752$2,602$1,774$1,192$415
32 years$5,079$3,550$2,428$1,630$1,078$360
33 years$4,871$3,362$2,267$1,499$976$312
34 years$4,676$3,187$2,118$1,379$884$271
35 years$4,493$3,023$1,980$1,270$800$235
36 years$4,320$2,869$1,852$1,169$725$204
37 years$4,157$2,725$1,734$1,077$657$177
38 years$4,003$2,589$1,624$993$596$154
39 years$3,857$2,462$1,521$916$540$134
40 years$3,719$2,343$1,426$844$490$116
41 years$3,588$2,230$1,337$779$445$101
42 years$3,463$2,124$1,254$719$403$88
43 years$3,345$2,024$1,177$664$366$76
44 years$3,232$1,929$1,105$613$332$66
45 years$3,124$1,839$1,037$566$302$57
46 years$3,022$1,755$974$523$274$50
47 years$2,924$1,674$915$483$249$43
48 years$2,831$1,599$860$446$226$38
49 years$2,741$1,526$808$412$205$33
50 years$2,656$1,458$760$381$186$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $2,720,000, adding $2,050 every year, while hoping to spend $23,208 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: 52/18/30 Blend
62$2,720,000$2,720,000$2,720,000$2,720,000
63$2,999,555$2,855,395$2,813,235$3,130,112
64$3,280,816$2,970,616$2,882,785$3,336,534
65$3,589,988$3,090,705$2,953,887$3,558,478
66$3,929,894$3,215,876$3,026,569$3,799,485
67$4,303,642$3,346,353$3,100,858$4,061,387
68$4,714,659$3,482,370$3,176,782$4,346,201
69$5,166,719$3,624,171$3,254,369$4,656,143
70$5,663,981$3,772,012$3,333,647$4,993,655
71$6,211,027$3,926,160$3,414,644$5,361,421
72$6,812,904$4,086,895$3,497,388$5,762,395
73$7,475,177$4,254,509$3,581,907$6,199,829
74$8,203,973$4,429,308$3,668,229$6,677,302
75$9,006,046$4,611,612$3,756,382$7,198,753
76$9,888,836$4,801,754$3,846,394$7,768,516
77$10,860,542$5,000,085$3,938,293$8,391,366
78$11,930,197$5,206,969$4,032,106$9,072,556
79$13,107,758$5,422,791$4,127,862$9,817,872
80$14,404,190$5,647,949$4,225,586$10,633,682
81$15,831,581$5,882,862$4,325,307$11,527,001
82$17,403,248$6,127,968$4,427,051$12,505,551
83$19,133,866$6,383,725$4,530,843$13,577,835
84$21,039,605$6,650,612$4,636,711$14,753,218
85$23,138,283$6,929,130$4,744,679$16,042,013
86$25,449,534$7,219,804$4,854,772$17,455,579
87$27,994,993$7,523,181$4,967,014$19,006,424
88$30,798,502$7,839,837$5,081,428$20,708,327
89$33,886,332$8,170,371$5,198,039$22,576,461
90$37,287,431$8,515,413$5,316,867$24,627,541
91$41,033,701$8,875,619$5,437,933$26,879,980
92$45,160,292$9,251,679$5,561,258$29,354,056
93$49,705,943$9,644,312$5,686,861$32,072,109
94$54,713,338$10,054,272$5,814,759$35,058,747
95$60,229,514$10,482,348$5,944,970$38,341,080
96$66,306,307$10,929,365$6,077,509$41,948,971
97$73,000,834$11,396,187$6,212,389$45,915,318
98$80,376,038$11,883,719$6,349,623$50,276,366
99$88,501,280$12,392,908$6,489,221$55,072,043
100$97,452,994$12,924,743$6,631,193$60,346,338