Can I retire at age 63 with 2,740,000?

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 $2,740,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.5%
1 years$226,267$224,251$222,285$220,366$218,491$213,557
2 years$112,013$109,927$107,905$105,945$104,044$99,098
3 years$73,934$71,839$69,822$67,880$66,010$61,208
4 years$54,898$52,809$50,812$48,904$47,079$42,458
5 years$43,479$41,403$39,433$37,563$35,788$31,362
6 years$35,869$33,809$31,867$30,039$28,318$24,090
7 years$30,436$28,392$26,482$24,697$23,030$19,001
8 years$26,362$24,337$22,459$20,718$19,106$15,275
9 years$23,196$21,190$19,344$17,647$16,090$12,454
10 years$20,664$18,678$16,864$15,212$13,709$10,264
11 years$18,594$16,628$14,847$13,239$11,790$8,532
12 years$16,870$14,924$13,176$11,612$10,217$7,140
13 years$15,413$13,487$11,772$10,252$8,910$6,008
14 years$14,165$12,260$10,577$9,100$7,810$5,078
15 years$13,084$11,199$9,550$8,116$6,877$4,308
16 years$12,139$10,275$8,658$7,267$6,078$3,666
17 years$11,307$9,463$7,879$6,529$5,389$3,127
18 years$10,567$8,744$7,192$5,884$4,792$2,674
19 years$9,906$8,104$6,584$5,317$4,271$2,290
20 years$9,312$7,531$6,043$4,815$3,815$1,964
21 years$8,776$7,015$5,558$4,370$3,414$1,687
22 years$8,288$6,548$5,123$3,974$3,060$1,451
23 years$7,844$6,124$4,730$3,619$2,747$1,249
24 years$7,438$5,738$4,374$3,301$2,469$1,076
25 years$7,064$5,385$4,052$3,014$2,222$927
26 years$6,720$5,061$3,758$2,756$2,001$800
27 years$6,402$4,763$3,489$2,523$1,804$690
28 years$6,107$4,488$3,244$2,311$1,628$596
29 years$5,833$4,234$3,019$2,120$1,470$515
30 years$5,577$3,998$2,812$1,945$1,328$445
31 years$5,339$3,780$2,621$1,787$1,201$384
32 years$5,116$3,576$2,446$1,642$1,086$332
33 years$4,907$3,387$2,284$1,510$983$287
34 years$4,711$3,210$2,134$1,389$890$248
35 years$4,526$3,045$1,995$1,279$806$215
36 years$4,352$2,890$1,866$1,178$730$186
37 years$4,187$2,745$1,747$1,085$662$161
38 years$4,032$2,608$1,636$1,000$600$139
39 years$3,885$2,480$1,532$922$544$120
40 years$3,746$2,360$1,436$851$494$104
41 years$3,614$2,246$1,347$785$448$90
42 years$3,488$2,139$1,263$724$406$78
43 years$3,369$2,038$1,185$669$369$68
44 years$3,256$1,943$1,113$617$335$58
45 years$3,147$1,853$1,045$570$304$51
46 years$3,044$1,768$981$527$276$44
47 years$2,946$1,687$922$487$251$38
48 years$2,851$1,610$866$450$228$33
49 years$2,761$1,538$814$416$207$28
50 years$2,675$1,469$766$384$188$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $2,740,000, adding $4,700 every year, while hoping to spend $28,681 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: 42/28/30 Blend
62$2,740,000$2,740,000$2,740,000$2,740,000
63$3,024,328$2,879,108$2,836,638$3,124,608
64$3,302,293$2,989,668$2,901,149$3,308,093
65$3,607,649$3,104,684$2,966,860$3,503,644
66$3,943,160$3,224,344$3,033,781$3,714,893
67$4,311,871$3,348,845$3,101,920$3,943,310
68$4,717,135$3,478,392$3,171,288$4,190,511
69$5,162,647$3,613,198$3,241,891$4,458,270
70$5,652,480$3,753,487$3,313,736$4,748,540
71$6,191,117$3,899,492$3,386,831$5,063,468
72$6,783,501$4,051,457$3,461,180$5,405,414
73$7,435,076$4,209,637$3,536,787$5,776,973
74$8,151,842$4,374,297$3,613,657$6,181,003
75$8,940,406$4,545,714$3,691,791$6,620,644
76$9,808,052$4,724,178$3,771,191$7,099,351
77$10,762,803$4,909,993$3,851,856$7,620,929
78$11,813,500$5,103,474$3,933,784$8,189,560
79$12,969,884$5,304,951$4,016,973$8,809,851
80$14,242,689$5,514,770$4,101,418$9,486,868
81$15,643,741$5,733,292$4,187,113$10,226,190
82$17,186,072$5,960,892$4,274,051$11,033,957
83$18,884,040$6,197,965$4,362,221$11,916,926
84$20,753,469$6,444,922$4,451,611$12,882,540
85$22,811,792$6,702,192$4,542,209$13,938,988
86$25,078,220$6,970,224$4,633,998$15,095,290
87$27,573,921$7,249,489$4,726,961$16,361,376
88$30,322,223$7,540,475$4,821,076$17,748,179
89$33,348,828$7,843,697$4,916,320$19,267,741
90$36,682,059$8,159,689$5,012,667$20,933,318
91$40,353,127$8,489,011$5,110,090$22,759,513
92$44,396,423$8,832,250$5,208,555$24,762,405
93$48,849,845$9,190,016$5,308,028$26,959,704
94$53,755,152$9,562,951$5,408,470$29,370,915
95$59,158,364$9,951,721$5,509,840$32,017,519
96$65,110,189$10,357,027$5,612,091$34,923,179
97$71,666,507$10,779,600$5,715,175$38,113,957
98$78,888,894$11,220,204$5,819,037$41,618,561
99$86,845,205$11,679,638$5,923,619$45,468,615
100$95,610,214$12,158,739$6,028,858$49,698,952