Can I retire at age 63 with 2,830,000?

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 $2,830,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.4%
1 years$233,699$231,617$229,586$227,604$225,668$221,565
2 years$115,692$113,538$111,450$109,425$107,461$103,342
3 years$76,362$74,198$72,115$70,110$68,178$64,171
4 years$56,701$54,544$52,481$50,510$48,625$44,761
5 years$44,907$42,763$40,728$38,797$36,964$33,254
6 years$37,047$34,919$32,914$31,026$29,248$25,697
7 years$31,435$29,325$27,352$25,508$23,787$20,395
8 years$27,228$25,137$23,196$21,398$19,733$16,500
9 years$23,958$21,886$19,979$18,226$16,618$13,542
10 years$21,343$19,292$17,418$15,711$14,160$11,237
11 years$19,205$17,174$15,335$13,674$12,178$9,405
12 years$17,424$15,415$13,609$11,994$10,553$7,927
13 years$15,919$13,930$12,159$10,589$9,202$6,719
14 years$14,630$12,662$10,925$9,399$8,067$5,722
15 years$13,514$11,567$9,864$8,383$7,103$4,891
16 years$12,538$10,613$8,943$7,506$6,277$4,195
17 years$11,678$9,774$8,138$6,744$5,566$3,607
18 years$10,914$9,032$7,429$6,077$4,949$3,109
19 years$10,232$8,370$6,801$5,492$4,411$2,684
20 years$9,618$7,778$6,241$4,974$3,940$2,322
21 years$9,064$7,245$5,741$4,514$3,526$2,011
22 years$8,561$6,763$5,291$4,104$3,160$1,744
23 years$8,102$6,325$4,885$3,738$2,837$1,514
24 years$7,682$5,926$4,518$3,409$2,550$1,316
25 years$7,296$5,562$4,185$3,113$2,295$1,144
26 years$6,941$5,227$3,881$2,847$2,067$996
27 years$6,612$4,919$3,604$2,606$1,863$867
28 years$6,307$4,635$3,350$2,387$1,681$755
29 years$6,024$4,373$3,118$2,189$1,518$658
30 years$5,761$4,130$2,904$2,009$1,372$574
31 years$5,514$3,904$2,707$1,845$1,240$501
32 years$5,284$3,694$2,526$1,696$1,122$437
33 years$5,068$3,498$2,359$1,559$1,015$381
34 years$4,865$3,316$2,204$1,435$919$333
35 years$4,674$3,145$2,060$1,321$833$290
36 years$4,495$2,985$1,927$1,216$754$253
37 years$4,325$2,835$1,804$1,121$684$221
38 years$4,165$2,694$1,689$1,033$620$193
39 years$4,013$2,562$1,583$953$562$169
40 years$3,869$2,437$1,483$879$510$148
41 years$3,733$2,320$1,391$811$463$129
42 years$3,603$2,210$1,305$748$420$113
43 years$3,480$2,105$1,224$691$381$98
44 years$3,362$2,007$1,149$638$346$86
45 years$3,251$1,914$1,079$589$314$75
46 years$3,144$1,826$1,014$544$285$66
47 years$3,042$1,742$952$503$259$57
48 years$2,945$1,663$895$464$235$50
49 years$2,852$1,588$841$429$213$44
50 years$2,763$1,517$791$397$194$38

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $2,830,000, adding $2,986 every year, while hoping to spend $36,539 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: 39/31/30 Blend
62$2,830,000$2,830,000$2,830,000$2,830,000
63$3,121,740$2,971,750$2,927,885$3,215,635
64$3,401,280$3,078,489$2,987,092$3,391,572
65$3,708,109$3,189,233$3,047,058$3,578,125
66$4,044,971$3,304,140$3,107,769$3,779,174
67$4,414,890$3,423,375$3,169,211$3,996,067
68$4,821,197$3,547,108$3,231,368$4,230,285
69$5,267,560$3,675,518$3,294,220$4,483,459
70$5,758,023$3,808,790$3,357,748$4,757,378
71$6,297,038$3,947,117$3,421,929$5,054,014
72$6,889,510$4,090,700$3,486,738$5,375,532
73$7,540,846$4,239,750$3,552,149$5,724,315
74$8,256,999$4,394,484$3,618,133$6,102,984
75$9,044,529$4,555,130$3,684,657$6,514,424
76$9,910,665$4,721,926$3,751,687$6,961,806
77$10,863,370$4,895,117$3,819,185$7,448,624
78$11,911,418$5,074,962$3,887,112$7,978,717
79$13,064,476$5,261,729$3,955,424$8,556,317
80$14,333,197$5,455,698$4,024,075$9,186,076
81$15,729,315$5,657,159$4,093,014$9,873,118
82$17,265,763$5,866,418$4,162,187$10,623,084
83$18,956,788$6,083,790$4,231,538$11,442,181
84$20,818,090$6,309,605$4,301,004$12,337,246
85$22,866,968$6,544,208$4,370,521$13,315,805
86$25,122,482$6,787,958$4,440,017$14,386,145
87$27,605,636$7,041,229$4,509,418$15,557,391
88$30,339,573$7,304,411$4,578,645$16,839,593
89$33,349,793$7,577,911$4,647,614$18,243,816
90$36,664,396$7,862,153$4,716,233$19,782,248
91$40,314,347$8,157,580$4,784,409$21,468,310
92$44,333,763$8,464,654$4,852,039$23,316,784
93$48,760,241$8,783,857$4,919,017$25,343,953
94$53,635,209$9,115,689$4,985,228$27,567,750
95$59,004,319$9,460,677$5,050,551$30,007,928
96$64,917,875$9,819,366$5,114,860$32,686,246
97$71,431,310$10,192,326$5,178,020$35,626,671
98$78,605,708$10,580,154$5,239,888$38,855,605
99$86,508,378$10,983,470$5,300,313$42,402,132
100$95,213,496$11,402,923$5,359,136$46,298,293