Can I retire at age 63 with 2,840,000?

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 $2,840,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$234,525$232,436$230,397$228,408$226,466$223,728
2 years$116,101$113,939$111,843$109,812$107,841$105,086
3 years$76,632$74,460$72,370$70,357$68,419$65,732
4 years$56,901$54,736$52,667$50,689$48,797$46,199
5 years$45,066$42,914$40,872$38,934$37,094$34,593
6 years$37,178$35,042$33,030$31,136$29,352$26,950
7 years$31,546$29,429$27,448$25,598$23,871$21,569
8 years$27,324$25,226$23,278$21,474$19,803$17,602
9 years$24,042$21,964$20,050$18,291$16,677$14,575
10 years$21,418$19,360$17,480$15,767$14,210$12,205
11 years$19,273$17,235$15,389$13,722$12,221$10,312
12 years$17,486$15,469$13,657$12,036$10,590$8,776
13 years$15,975$13,980$12,202$10,626$9,235$7,512
14 years$14,682$12,707$10,963$9,433$8,095$6,462
15 years$13,561$11,608$9,899$8,412$7,128$5,580
16 years$12,582$10,650$8,974$7,532$6,300$4,836
17 years$11,719$9,808$8,166$6,768$5,586$4,203
18 years$10,953$9,063$7,455$6,099$4,966$3,662
19 years$10,268$8,400$6,825$5,511$4,427$3,197
20 years$9,652$7,806$6,263$4,991$3,954$2,796
21 years$9,096$7,271$5,761$4,530$3,538$2,450
22 years$8,591$6,787$5,310$4,119$3,172$2,149
23 years$8,131$6,348$4,903$3,751$2,847$1,887
24 years$7,709$5,947$4,534$3,421$2,559$1,659
25 years$7,322$5,581$4,199$3,124$2,303$1,460
26 years$6,965$5,245$3,895$2,857$2,074$1,286
27 years$6,635$4,937$3,617$2,615$1,870$1,133
28 years$6,330$4,652$3,362$2,396$1,687$999
29 years$6,046$4,388$3,129$2,197$1,524$882
30 years$5,781$4,144$2,914$2,016$1,377$778
31 years$5,534$3,918$2,717$1,852$1,245$687
32 years$5,303$3,707$2,535$1,702$1,126$607
33 years$5,086$3,511$2,367$1,565$1,019$536
34 years$4,882$3,327$2,211$1,440$923$474
35 years$4,691$3,156$2,068$1,326$836$419
36 years$4,511$2,995$1,934$1,221$757$371
37 years$4,340$2,845$1,810$1,125$686$328
38 years$4,179$2,704$1,695$1,037$622$290
39 years$4,027$2,571$1,588$956$564$257
40 years$3,883$2,446$1,489$882$512$227
41 years$3,746$2,328$1,396$813$464$201
42 years$3,616$2,217$1,309$751$421$178
43 years$3,492$2,113$1,229$693$382$157
44 years$3,374$2,014$1,153$640$347$139
45 years$3,262$1,920$1,083$591$315$123
46 years$3,155$1,832$1,017$546$286$109
47 years$3,053$1,748$956$504$260$97
48 years$2,955$1,669$898$466$236$86
49 years$2,862$1,594$844$431$214$76
50 years$2,773$1,522$794$398$195$67

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $2,840,000, adding $6,292 every year, while hoping to spend $50,508 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: 37/46/17 Blend
62$2,840,000$2,840,000$2,840,000$2,840,000
63$3,136,170$2,985,650$2,941,630$3,235,839
64$3,402,319$3,078,207$2,986,435$3,400,867
65$3,693,923$3,173,606$3,031,047$3,573,749
66$4,013,524$3,271,934$3,075,408$3,759,420
67$4,363,923$3,373,278$3,119,454$3,959,052
68$4,748,206$3,477,731$3,163,118$4,173,935
69$5,169,768$3,585,385$3,206,328$4,405,489
70$5,632,353$3,696,338$3,249,009$4,655,272
71$6,140,083$3,810,688$3,291,080$4,924,998
72$6,697,498$3,928,538$3,332,458$5,216,555
73$7,309,599$4,049,994$3,373,052$5,532,015
74$7,981,898$4,175,162$3,412,768$5,873,663
75$8,720,462$4,304,156$3,451,507$6,244,008
76$9,531,979$4,437,089$3,489,162$6,645,814
77$10,423,814$4,574,080$3,525,622$7,082,123
78$11,404,083$4,715,250$3,560,771$7,556,281
79$12,481,727$4,860,725$3,594,484$8,071,972
80$13,666,594$5,010,631$3,626,630$8,633,252
81$14,969,538$5,165,103$3,657,073$9,244,585
82$16,402,513$5,324,276$3,685,668$9,910,887
83$17,978,694$5,488,290$3,712,263$10,637,570
84$19,712,594$5,657,289$3,736,696$11,430,593
85$21,620,204$5,831,422$3,758,801$12,296,519
86$23,719,143$6,010,840$3,778,399$13,242,574
87$26,028,825$6,195,700$3,795,304$14,276,718
88$28,570,639$6,386,164$3,809,322$15,407,714
89$31,368,156$6,582,397$3,820,245$16,645,218
90$34,447,343$6,784,570$3,827,859$17,999,863
91$37,836,816$6,992,858$3,831,936$19,483,360
92$41,568,104$7,207,441$3,832,239$21,108,612
93$45,675,950$7,428,504$3,828,518$22,889,829
94$50,198,634$7,656,239$3,820,511$24,842,667
95$55,178,341$7,890,840$3,807,943$26,984,372
96$60,661,549$8,132,509$3,790,528$29,333,943
97$66,699,478$8,381,453$3,767,961$31,912,310
98$73,348,565$8,637,885$3,739,928$34,742,533
99$80,671,000$8,902,022$3,706,097$37,850,016
100$88,735,311$9,174,090$3,666,120$41,262,749