Can I retire at age 63 with 2,880,000?

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 $2,880,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$237,828$235,709$233,642$231,625$229,655$226,504
2 years$117,736$115,544$113,419$111,358$109,360$106,190
3 years$77,711$75,509$73,389$71,348$69,382$66,293
4 years$57,703$55,507$53,409$51,402$49,484$46,499
5 years$45,701$43,518$41,447$39,482$37,617$34,745
6 years$37,702$35,536$33,496$31,574$29,765$27,010
7 years$31,991$29,843$27,835$25,959$24,207$21,569
8 years$27,709$25,581$23,606$21,776$20,082$17,561
9 years$24,381$22,273$20,332$18,548$16,912$14,507
10 years$21,720$19,632$17,726$15,989$14,410$12,119
11 years$19,544$17,478$15,606$13,915$12,393$10,214
12 years$17,732$15,687$13,850$12,205$10,739$8,670
13 years$16,200$14,176$12,374$10,776$9,365$7,402
14 years$14,888$12,886$11,118$9,565$8,209$6,350
15 years$13,752$11,772$10,038$8,531$7,228$5,469
16 years$12,759$10,800$9,101$7,638$6,388$4,727
17 years$11,884$9,947$8,281$6,863$5,664$4,096
18 years$11,107$9,191$7,560$6,185$5,036$3,559
19 years$10,413$8,518$6,921$5,589$4,489$3,098
20 years$9,788$7,916$6,351$5,062$4,010$2,702
21 years$9,224$7,373$5,842$4,594$3,588$2,360
22 years$8,712$6,882$5,384$4,177$3,216$2,064
23 years$8,245$6,437$4,972$3,804$2,887$1,807
24 years$7,818$6,031$4,598$3,469$2,595$1,584
25 years$7,425$5,660$4,259$3,168$2,335$1,389
26 years$7,063$5,319$3,950$2,897$2,103$1,220
27 years$6,729$5,006$3,668$2,652$1,896$1,071
28 years$6,419$4,717$3,409$2,429$1,711$942
29 years$6,131$4,450$3,173$2,228$1,545$828
30 years$5,862$4,203$2,955$2,045$1,396$728
31 years$5,612$3,973$2,755$1,878$1,262$641
32 years$5,377$3,759$2,571$1,726$1,142$564
33 years$5,158$3,560$2,400$1,587$1,033$497
34 years$4,951$3,374$2,243$1,460$936$438
35 years$4,757$3,200$2,097$1,344$847$386
36 years$4,574$3,038$1,961$1,238$768$340
37 years$4,401$2,885$1,836$1,141$696$300
38 years$4,238$2,742$1,719$1,051$631$264
39 years$4,084$2,607$1,611$969$572$233
40 years$3,937$2,480$1,510$894$519$205
41 years$3,799$2,361$1,416$825$471$181
42 years$3,667$2,249$1,328$761$427$160
43 years$3,541$2,143$1,246$703$388$141
44 years$3,422$2,042$1,170$649$352$124
45 years$3,308$1,948$1,098$599$319$110
46 years$3,200$1,858$1,031$554$290$97
47 years$3,096$1,773$969$511$263$85
48 years$2,997$1,693$911$473$239$75
49 years$2,902$1,616$856$437$217$66
50 years$2,812$1,544$805$404$197$59

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $2,880,000, adding $6,960 every year, while hoping to spend $41,639 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: 83/7/10 Blend
62$2,880,000$2,880,000$2,880,000$2,880,000
63$3,180,939$3,028,299$2,983,659$3,439,551
64$3,461,091$3,132,382$3,039,308$3,713,896
65$3,768,424$3,240,170$3,095,426$4,008,843
66$4,105,664$3,351,800$3,151,984$4,331,477
67$4,475,818$3,467,414$3,208,952$4,684,556
68$4,882,197$3,587,162$3,266,297$5,071,113
69$5,328,446$3,711,198$3,323,983$5,494,494
70$5,818,583$3,839,682$3,381,971$5,958,379
71$6,357,032$3,972,781$3,440,222$6,466,825
72$6,948,670$4,110,668$3,498,689$7,024,298
73$7,598,866$4,253,522$3,557,327$7,635,720
74$8,313,537$4,401,532$3,616,085$8,306,511
75$9,099,202$4,554,891$3,674,907$9,042,642
76$9,963,042$4,713,801$3,733,738$9,850,689
77$10,912,968$4,878,474$3,792,514$10,737,901
78$11,957,698$5,049,126$3,851,171$11,712,258
79$13,106,837$5,225,987$3,909,638$12,782,555
80$14,370,965$5,409,291$3,967,842$13,958,482
81$15,761,742$5,599,285$4,025,704$15,250,711
82$17,292,014$5,796,224$4,083,139$16,671,003
83$18,975,935$6,000,375$4,140,060$18,232,314
84$20,829,100$6,212,013$4,196,371$19,948,921
85$22,868,693$6,431,426$4,251,975$21,836,550
86$25,113,648$6,658,914$4,306,764$23,912,532
87$27,584,827$6,894,788$4,360,627$26,195,960
88$30,305,218$7,139,371$4,413,447$28,707,872
89$33,300,151$7,393,002$4,465,099$31,471,449
90$36,597,538$7,656,030$4,515,451$34,512,232
91$40,228,132$7,928,821$4,564,364$37,858,363
92$44,225,822$8,211,754$4,611,691$41,540,852
93$48,627,952$8,505,225$4,657,278$45,593,869
94$53,475,668$8,809,646$4,700,961$50,055,063
95$58,814,312$9,125,445$4,742,570$54,965,920
96$64,693,848$9,453,068$4,781,922$60,372,155
97$71,169,332$9,792,980$4,818,828$66,324,139
98$78,301,431$10,145,663$4,853,086$72,877,378
99$86,156,999$10,511,623$4,884,486$80,093,036
100$94,809,703$10,891,382$4,912,806$88,038,508