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

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 $2,840,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$234,525$232,436$230,397$228,408$226,466$221,893
2 years$116,101$113,939$111,843$109,812$107,841$103,254
3 years$76,632$74,460$72,370$70,357$68,419$63,961
4 years$56,901$54,736$52,667$50,689$48,797$44,502
5 years$45,066$42,914$40,872$38,934$37,094$32,975
6 years$37,178$35,042$33,030$31,136$29,352$25,412
7 years$31,546$29,429$27,448$25,598$23,871$20,112
8 years$27,324$25,226$23,278$21,474$19,803$16,224
9 years$24,042$21,964$20,050$18,291$16,677$13,276
10 years$21,418$19,360$17,480$15,767$14,210$10,982
11 years$19,273$17,235$15,389$13,722$12,221$9,163
12 years$17,486$15,469$13,657$12,036$10,590$7,698
13 years$15,975$13,980$12,202$10,626$9,235$6,504
14 years$14,682$12,707$10,963$9,433$8,095$5,519
15 years$13,561$11,608$9,899$8,412$7,128$4,702
16 years$12,582$10,650$8,974$7,532$6,300$4,018
17 years$11,719$9,808$8,166$6,768$5,586$3,443
18 years$10,953$9,063$7,455$6,099$4,966$2,956
19 years$10,268$8,400$6,825$5,511$4,427$2,544
20 years$9,652$7,806$6,263$4,991$3,954$2,192
21 years$9,096$7,271$5,761$4,530$3,538$1,891
22 years$8,591$6,787$5,310$4,119$3,172$1,634
23 years$8,131$6,348$4,903$3,751$2,847$1,413
24 years$7,709$5,947$4,534$3,421$2,559$1,223
25 years$7,322$5,581$4,199$3,124$2,303$1,059
26 years$6,965$5,245$3,895$2,857$2,074$918
27 years$6,635$4,937$3,617$2,615$1,870$796
28 years$6,330$4,652$3,362$2,396$1,687$691
29 years$6,046$4,388$3,129$2,197$1,524$600
30 years$5,781$4,144$2,914$2,016$1,377$521
31 years$5,534$3,918$2,717$1,852$1,245$452
32 years$5,303$3,707$2,535$1,702$1,126$393
33 years$5,086$3,511$2,367$1,565$1,019$341
34 years$4,882$3,327$2,211$1,440$923$297
35 years$4,691$3,156$2,068$1,326$836$258
36 years$4,511$2,995$1,934$1,221$757$224
37 years$4,340$2,845$1,810$1,125$686$195
38 years$4,179$2,704$1,695$1,037$622$170
39 years$4,027$2,571$1,588$956$564$147
40 years$3,883$2,446$1,489$882$512$128
41 years$3,746$2,328$1,396$813$464$112
42 years$3,616$2,217$1,309$751$421$97
43 years$3,492$2,113$1,229$693$382$84
44 years$3,374$2,014$1,153$640$347$73
45 years$3,262$1,920$1,083$591$315$64
46 years$3,155$1,832$1,017$546$286$56
47 years$3,053$1,748$956$504$260$48
48 years$2,955$1,669$898$466$236$42
49 years$2,862$1,594$844$431$214$37
50 years$2,773$1,522$794$398$195$32

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 $6,678 every year, while hoping to spend $39,149 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: 49/23/28 Blend
62$2,840,000$2,840,000$2,840,000$2,840,000
63$3,136,568$2,986,048$2,942,028$3,265,006
64$3,414,844$3,090,710$2,998,932$3,460,416
65$3,720,192$3,199,189$3,056,430$3,668,202
66$4,055,332$3,311,629$3,114,501$3,893,199
67$4,423,260$3,428,183$3,173,120$4,137,056
68$4,827,276$3,549,009$3,232,264$4,401,585
69$5,271,017$3,674,269$3,291,904$4,688,781
70$5,758,487$3,804,134$3,352,009$5,000,840
71$6,294,099$3,938,783$3,412,547$5,340,176
72$6,882,713$4,078,399$3,473,483$5,709,450
73$7,529,684$4,223,175$3,534,779$6,111,588
74$8,240,911$4,373,310$3,596,394$6,549,812
75$9,022,894$4,529,012$3,658,283$7,027,670
76$9,882,794$4,690,499$3,720,401$7,549,066
77$10,828,501$4,857,994$3,782,695$8,118,301
78$11,868,705$5,031,734$3,845,113$8,740,110
79$13,012,985$5,211,960$3,907,596$9,419,706
80$14,271,892$5,398,929$3,970,083$10,162,831
81$15,657,052$5,592,904$4,032,508$10,975,807
82$17,181,276$5,794,161$4,094,802$11,865,598
83$18,858,677$6,002,986$4,156,889$12,839,873
84$20,704,808$6,219,678$4,218,691$13,907,079
85$22,736,805$6,444,548$4,280,123$15,076,521
86$24,973,549$6,677,921$4,341,097$16,358,446
87$27,435,844$6,920,133$4,401,517$17,764,143
88$30,146,616$7,171,535$4,461,284$19,306,046
89$33,131,125$7,432,494$4,520,291$20,997,853
90$36,417,205$7,703,391$4,578,425$22,854,654
91$40,035,526$7,984,623$4,635,569$24,893,071
92$44,019,884$8,276,605$4,691,595$27,131,418
93$48,407,520$8,579,766$4,746,371$29,589,870
94$53,239,469$8,894,557$4,799,757$32,290,652
95$58,560,951$9,221,446$4,851,604$35,258,252
96$64,421,792$9,560,920$4,901,757$38,519,650
97$70,876,898$9,913,489$4,950,050$42,104,568
98$77,986,774$10,279,683$4,996,309$46,045,754
99$85,818,091$10,660,054$5,040,351$50,379,292
100$94,444,318$11,055,177$5,081,984$55,144,935