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%15.2%
1 years$233,699$231,617$229,586$227,604$225,668$220,841
2 years$115,692$113,538$111,450$109,425$107,461$102,621
3 years$76,362$74,198$72,115$70,110$68,178$63,476
4 years$56,701$54,544$52,481$50,510$48,625$44,098
5 years$44,907$42,763$40,728$38,797$36,964$32,625
6 years$37,047$34,919$32,914$31,026$29,248$25,101
7 years$31,435$29,325$27,352$25,508$23,787$19,832
8 years$27,228$25,137$23,196$21,398$19,733$15,971
9 years$23,958$21,886$19,979$18,226$16,618$13,045
10 years$21,343$19,292$17,418$15,711$14,160$10,771
11 years$19,205$17,174$15,335$13,674$12,178$8,970
12 years$17,424$15,415$13,609$11,994$10,553$7,521
13 years$15,919$13,930$12,159$10,589$9,202$6,342
14 years$14,630$12,662$10,925$9,399$8,067$5,371
15 years$13,514$11,567$9,864$8,383$7,103$4,566
16 years$12,538$10,613$8,943$7,506$6,277$3,894
17 years$11,678$9,774$8,138$6,744$5,566$3,329
18 years$10,914$9,032$7,429$6,077$4,949$2,852
19 years$10,232$8,370$6,801$5,492$4,411$2,449
20 years$9,618$7,778$6,241$4,974$3,940$2,105
21 years$9,064$7,245$5,741$4,514$3,526$1,812
22 years$8,561$6,763$5,291$4,104$3,160$1,562
23 years$8,102$6,325$4,885$3,738$2,837$1,348
24 years$7,682$5,926$4,518$3,409$2,550$1,164
25 years$7,296$5,562$4,185$3,113$2,295$1,006
26 years$6,941$5,227$3,881$2,847$2,067$869
27 years$6,612$4,919$3,604$2,606$1,863$752
28 years$6,307$4,635$3,350$2,387$1,681$651
29 years$6,024$4,373$3,118$2,189$1,518$564
30 years$5,761$4,130$2,904$2,009$1,372$488
31 years$5,514$3,904$2,707$1,845$1,240$423
32 years$5,284$3,694$2,526$1,696$1,122$367
33 years$5,068$3,498$2,359$1,559$1,015$318
34 years$4,865$3,316$2,204$1,435$919$275
35 years$4,674$3,145$2,060$1,321$833$239
36 years$4,495$2,985$1,927$1,216$754$207
37 years$4,325$2,835$1,804$1,121$684$180
38 years$4,165$2,694$1,689$1,033$620$156
39 years$4,013$2,562$1,583$953$562$135
40 years$3,869$2,437$1,483$879$510$117
41 years$3,733$2,320$1,391$811$463$102
42 years$3,603$2,210$1,305$748$420$88
43 years$3,480$2,105$1,224$691$381$77
44 years$3,362$2,007$1,149$638$346$67
45 years$3,251$1,914$1,079$589$314$58
46 years$3,144$1,826$1,014$544$285$50
47 years$3,042$1,742$952$503$259$43
48 years$2,945$1,663$895$464$235$38
49 years$2,852$1,588$841$429$213$33
50 years$2,763$1,517$791$397$194$28

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 $6,945 every year, while hoping to spend $30,689 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: 45/38/17 Blend
62$2,830,000$2,830,000$2,830,000$2,830,000
63$3,125,824$2,975,834$2,931,969$3,250,952
64$3,412,005$3,088,997$2,997,537$3,452,294
65$3,726,348$3,206,676$3,064,273$3,666,884
66$4,071,693$3,329,061$3,132,184$3,898,931
67$4,451,169$3,456,348$3,201,275$4,150,069
68$4,868,223$3,588,744$3,271,552$4,422,087
69$5,326,651$3,726,462$3,343,019$4,716,958
70$5,830,639$3,869,727$3,415,679$5,036,844
71$6,384,794$4,018,774$3,489,534$5,384,125
72$6,994,195$4,173,846$3,564,586$5,761,418
73$7,664,436$4,335,198$3,640,833$6,171,598
74$8,401,683$4,503,097$3,718,275$6,617,828
75$9,212,726$4,677,820$3,796,909$7,103,586
76$10,105,049$4,859,658$3,876,730$7,632,699
77$11,086,896$5,048,914$3,957,733$8,209,375
78$12,167,352$5,245,903$4,039,910$8,838,243
79$13,356,427$5,450,958$4,123,252$9,524,399
80$14,665,150$5,664,422$4,207,748$10,273,446
81$16,105,674$5,886,657$4,293,386$11,091,554
82$17,691,388$6,118,038$4,380,149$11,985,509
83$19,437,047$6,358,960$4,468,022$12,962,782
84$21,358,910$6,609,833$4,556,985$14,031,597
85$23,474,889$6,871,085$4,647,015$15,201,004
86$25,804,726$7,143,167$4,738,088$16,480,967
87$28,370,172$7,426,545$4,830,177$17,882,455
88$31,195,193$7,721,710$4,923,252$19,417,542
89$34,306,202$8,029,173$5,017,280$21,099,524
90$37,732,301$8,349,468$5,112,225$22,943,040
91$41,505,557$8,683,154$5,208,046$24,964,209
92$45,661,310$9,030,814$5,304,701$27,180,780
93$50,238,498$9,393,059$5,402,143$29,612,298
94$55,280,031$9,770,525$5,500,321$32,280,286
95$60,833,192$10,163,879$5,599,180$35,208,450
96$66,950,085$10,573,817$5,698,661$38,422,894
97$73,688,127$11,001,067$5,798,699$41,952,370
98$81,110,587$11,446,390$5,899,226$45,828,546
99$89,287,185$11,910,581$6,000,169$50,086,299
100$98,294,751$12,394,473$6,101,447$54,764,048