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

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 $2,880,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$237,828$235,709$233,642$231,625$229,655$226,317
2 years$117,736$115,544$113,419$111,358$109,360$106,003
3 years$77,711$75,509$73,389$71,348$69,382$66,112
4 years$57,703$55,507$53,409$51,402$49,484$46,325
5 years$45,701$43,518$41,447$39,482$37,617$34,579
6 years$37,702$35,536$33,496$31,574$29,765$26,852
7 years$31,991$29,843$27,835$25,959$24,207$21,419
8 years$27,709$25,581$23,606$21,776$20,082$17,419
9 years$24,381$22,273$20,332$18,548$16,912$14,372
10 years$21,720$19,632$17,726$15,989$14,410$11,992
11 years$19,544$17,478$15,606$13,915$12,393$10,094
12 years$17,732$15,687$13,850$12,205$10,739$8,557
13 years$16,200$14,176$12,374$10,776$9,365$7,296
14 years$14,888$12,886$11,118$9,565$8,209$6,251
15 years$13,752$11,772$10,038$8,531$7,228$5,377
16 years$12,759$10,800$9,101$7,638$6,388$4,640
17 years$11,884$9,947$8,281$6,863$5,664$4,016
18 years$11,107$9,191$7,560$6,185$5,036$3,484
19 years$10,413$8,518$6,921$5,589$4,489$3,028
20 years$9,788$7,916$6,351$5,062$4,010$2,637
21 years$9,224$7,373$5,842$4,594$3,588$2,300
22 years$8,712$6,882$5,384$4,177$3,216$2,008
23 years$8,245$6,437$4,972$3,804$2,887$1,756
24 years$7,818$6,031$4,598$3,469$2,595$1,536
25 years$7,425$5,660$4,259$3,168$2,335$1,345
26 years$7,063$5,319$3,950$2,897$2,103$1,179
27 years$6,729$5,006$3,668$2,652$1,896$1,034
28 years$6,419$4,717$3,409$2,429$1,711$908
29 years$6,131$4,450$3,173$2,228$1,545$797
30 years$5,862$4,203$2,955$2,045$1,396$700
31 years$5,612$3,973$2,755$1,878$1,262$615
32 years$5,377$3,759$2,571$1,726$1,142$541
33 years$5,158$3,560$2,400$1,587$1,033$475
34 years$4,951$3,374$2,243$1,460$936$418
35 years$4,757$3,200$2,097$1,344$847$368
36 years$4,574$3,038$1,961$1,238$768$323
37 years$4,401$2,885$1,836$1,141$696$285
38 years$4,238$2,742$1,719$1,051$631$250
39 years$4,084$2,607$1,611$969$572$220
40 years$3,937$2,480$1,510$894$519$194
41 years$3,799$2,361$1,416$825$471$171
42 years$3,667$2,249$1,328$761$427$150
43 years$3,541$2,143$1,246$703$388$132
44 years$3,422$2,042$1,170$649$352$117
45 years$3,308$1,948$1,098$599$319$103
46 years$3,200$1,858$1,031$554$290$90
47 years$3,096$1,773$969$511$263$80
48 years$2,997$1,693$911$473$239$70
49 years$2,902$1,616$856$437$217$62
50 years$2,812$1,544$805$404$197$54

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 $5,206 every year, while hoping to spend $45,231 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: 71/21/8 Blend
62$2,880,000$2,880,000$2,880,000$2,880,000
63$3,179,130$3,026,490$2,981,850$3,400,201
64$3,455,276$3,126,663$3,033,617$3,647,178
65$3,758,073$3,230,228$3,085,601$3,911,334
66$4,090,191$3,337,304$3,137,764$4,199,224
67$4,454,572$3,448,014$3,190,061$4,513,174
68$4,854,457$3,562,484$3,242,446$4,855,741
69$5,293,413$3,680,848$3,294,870$5,229,745
70$5,775,373$3,803,241$3,347,280$5,638,287
71$6,304,667$3,929,806$3,399,620$6,084,781
72$6,886,066$4,060,689$3,451,829$6,572,988
73$7,524,824$4,196,042$3,503,845$7,107,049
74$8,226,731$4,336,023$3,555,599$7,691,522
75$8,998,166$4,480,797$3,607,020$8,331,428
76$9,846,155$4,630,532$3,658,031$9,032,296
77$10,778,439$4,785,404$3,708,551$9,800,216
78$11,803,547$4,945,597$3,758,495$10,641,893
79$12,930,876$5,111,298$3,807,772$11,564,715
80$14,170,779$5,282,705$3,856,286$12,576,816
81$15,534,663$5,460,022$3,903,936$13,687,159
82$17,035,093$5,643,458$3,950,613$14,905,613
83$18,685,919$5,833,233$3,996,204$16,243,054
84$20,502,396$6,029,575$4,040,590$17,711,457
85$22,501,334$6,232,718$4,083,644$19,324,017
86$24,701,257$6,442,908$4,125,233$21,095,270
87$27,122,573$6,660,398$4,165,215$23,041,229
88$29,787,769$6,885,451$4,203,444$25,179,533
89$32,721,624$7,118,341$4,239,762$27,529,619
90$35,951,440$7,359,351$4,274,005$30,112,896
91$39,507,303$7,608,774$4,306,000$32,952,955
92$43,422,361$7,866,918$4,335,564$36,075,784
93$47,733,142$8,134,097$4,362,506$39,510,019
94$52,479,897$8,410,642$4,386,624$43,287,207
95$57,706,977$8,696,894$4,407,706$47,442,109
96$63,463,254$8,993,207$4,425,530$52,013,022
97$69,802,582$9,299,950$4,439,861$57,042,146
98$76,784,302$9,617,505$4,450,454$62,575,973
99$84,473,807$9,946,268$4,457,049$68,665,736
100$92,943,152$10,286,652$4,459,378$75,367,880