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

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 $2,830,000?

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 $6,197 every year, while hoping to spend $50,107 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: 51/32/17 Blend
62$2,830,000$2,830,000$2,830,000$2,830,000
63$3,125,052$2,975,062$2,931,197$3,269,538
64$3,390,494$3,067,527$2,976,079$3,462,028
65$3,681,332$3,162,843$3,020,785$3,665,458
66$4,000,102$3,261,097$3,065,256$3,885,536
67$4,349,601$3,362,379$3,109,430$4,123,852
68$4,732,905$3,466,780$3,153,241$4,382,154
69$5,153,405$3,574,396$3,196,618$4,662,369
70$5,614,835$3,685,324$3,239,487$4,966,614
71$6,121,308$3,799,665$3,281,770$5,297,221
72$6,677,355$3,917,522$3,323,383$5,656,757
73$7,287,966$4,039,001$3,364,237$6,048,047
74$7,958,639$4,164,213$3,404,240$6,474,201
75$8,695,431$4,293,271$3,443,293$6,938,645
76$9,505,014$4,426,290$3,481,292$7,445,148
77$10,394,738$4,563,390$3,518,127$7,997,863
78$11,372,700$4,704,695$3,553,683$8,601,361
79$12,447,821$4,850,331$3,587,838$9,260,680
80$13,629,931$5,000,430$3,620,463$9,981,362
81$14,929,858$5,155,124$3,651,422$10,769,517
82$16,359,532$5,314,554$3,680,573$11,631,870
83$17,932,098$5,478,861$3,707,766$12,575,831
84$19,662,038$5,648,191$3,732,842$13,609,561
85$21,565,310$5,822,696$3,755,636$14,742,050
86$23,659,494$6,002,531$3,775,972$15,983,199
87$25,963,962$6,187,855$3,793,667$17,343,919
88$28,500,059$6,378,832$3,808,528$18,836,226
89$31,291,303$6,575,633$3,820,351$20,473,359
90$34,363,606$6,778,430$3,828,924$22,269,904
91$37,745,524$6,987,402$3,834,022$24,241,929
92$41,468,517$7,202,735$3,835,412$26,407,138
93$45,567,254$7,424,617$3,832,846$28,785,034
94$50,079,933$7,653,242$3,826,066$31,397,107
95$55,048,648$7,888,813$3,814,800$34,267,033
96$60,519,779$8,131,533$3,798,765$37,420,900
97$66,544,435$8,381,617$3,777,662$40,887,450
98$73,178,932$8,639,281$3,751,179$44,698,353
99$80,485,327$8,904,750$3,718,988$48,888,504
100$88,532,003$9,178,255$3,680,746$53,496,352