Can I retire at age 63 with 2,890,000?

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 $2,890,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$238,653$236,528$234,454$232,429$230,453$228,331
2 years$118,145$115,945$113,812$111,745$109,739$107,602
3 years$77,981$75,771$73,644$71,596$69,623$67,536
4 years$57,903$55,700$53,594$51,581$49,656$47,635
5 years$45,859$43,669$41,591$39,619$37,748$35,799
6 years$37,833$35,659$33,612$31,684$29,868$27,995
7 years$32,102$29,947$27,932$26,049$24,291$22,493
8 years$27,805$25,670$23,688$21,852$20,152$18,429
9 years$24,466$22,350$20,403$18,613$16,971$15,323
10 years$21,795$19,701$17,788$16,044$14,460$12,886
11 years$19,612$17,538$15,660$13,964$12,436$10,935
12 years$17,794$15,741$13,898$12,248$10,777$9,347
13 years$16,257$14,226$12,417$10,813$9,398$8,037
14 years$14,940$12,931$11,156$9,599$8,238$6,945
15 years$13,800$11,812$10,073$8,560$7,253$6,027
16 years$12,804$10,838$9,132$7,665$6,410$5,248
17 years$11,925$9,981$8,310$6,887$5,684$4,584
18 years$11,146$9,223$7,586$6,206$5,054$4,013
19 years$10,449$8,548$6,945$5,608$4,505$3,522
20 years$9,822$7,943$6,374$5,079$4,024$3,096
21 years$9,256$7,399$5,862$4,610$3,601$2,727
22 years$8,742$6,906$5,403$4,191$3,228$2,405
23 years$8,274$6,459$4,989$3,817$2,897$2,123
24 years$7,845$6,052$4,614$3,481$2,604$1,877
25 years$7,451$5,679$4,273$3,179$2,343$1,661
26 years$7,088$5,338$3,963$2,907$2,111$1,470
27 years$6,752$5,024$3,680$2,661$1,903$1,303
28 years$6,441$4,734$3,421$2,438$1,717$1,156
29 years$6,152$4,466$3,184$2,236$1,551$1,025
30 years$5,883$4,217$2,966$2,052$1,401$910
31 years$5,631$3,987$2,765$1,884$1,267$808
32 years$5,396$3,772$2,580$1,732$1,146$718
33 years$5,176$3,572$2,409$1,593$1,037$638
34 years$4,968$3,386$2,250$1,465$939$567
35 years$4,774$3,211$2,104$1,349$850$505
36 years$4,590$3,048$1,968$1,242$770$449
37 years$4,417$2,895$1,842$1,145$698$399
38 years$4,253$2,751$1,725$1,055$633$355
39 years$4,098$2,616$1,616$973$574$316
40 years$3,951$2,489$1,515$897$521$282
41 years$3,812$2,369$1,421$828$472$251
42 years$3,679$2,257$1,332$764$429$223
43 years$3,554$2,150$1,250$705$389$199
44 years$3,434$2,049$1,174$651$353$177
45 years$3,320$1,954$1,102$601$321$158
46 years$3,211$1,864$1,035$555$291$140
47 years$3,107$1,779$972$513$264$125
48 years$3,007$1,698$914$474$240$111
49 years$2,913$1,622$859$438$218$99
50 years$2,822$1,549$808$405$198$88

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $2,890,000, adding $5,655 every year, while hoping to spend $32,683 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: 44/33/23 Blend
62$2,890,000$2,890,000$2,890,000$2,890,000
63$3,190,613$3,037,443$2,992,648$3,309,503
64$3,481,281$3,151,503$3,058,127$3,508,283
65$3,800,502$3,270,057$3,124,705$3,720,007
66$4,151,153$3,393,290$3,192,383$3,948,856
67$4,536,406$3,521,396$3,261,162$4,196,433
68$4,959,752$3,654,577$3,331,044$4,464,502
69$5,425,039$3,793,044$3,402,026$4,755,002
70$5,936,506$3,937,016$3,474,107$5,070,063
71$6,498,824$4,086,724$3,547,284$5,412,029
72$7,117,137$4,242,407$3,621,551$5,783,476
73$7,797,114$4,404,314$3,696,902$6,187,239
74$8,545,000$4,572,706$3,773,329$6,626,433
75$9,367,678$4,747,856$3,850,823$7,104,488
76$10,272,727$4,930,047$3,929,372$7,625,175
77$11,268,503$5,119,577$4,008,963$8,192,644
78$12,364,208$5,316,754$4,089,581$8,811,463
79$13,569,984$5,521,902$4,171,209$9,486,655
80$14,897,005$5,735,357$4,253,827$10,223,752
81$16,357,583$5,957,473$4,337,414$11,028,839
82$17,965,284$6,188,617$4,421,945$11,908,617
83$19,735,056$6,429,173$4,507,393$12,870,461
84$21,683,371$6,679,541$4,593,729$13,922,488
85$23,828,376$6,940,140$4,680,921$15,073,636
86$26,190,071$7,211,408$4,768,933$16,333,744
87$28,790,492$7,493,800$4,857,726$17,713,648
88$31,653,921$7,787,795$4,947,258$19,225,275
89$34,807,113$8,093,889$5,037,483$20,881,761
90$38,279,552$8,412,603$5,128,353$22,697,570
91$42,103,727$8,744,481$5,219,813$24,688,632
92$46,315,437$9,090,091$5,311,806$26,872,486
93$50,954,131$9,450,024$5,404,271$29,268,453
94$56,063,279$9,824,902$5,497,141$31,897,809
95$61,690,782$10,215,371$5,590,344$34,783,988
96$67,889,426$10,622,109$5,683,805$37,952,800
97$74,717,377$11,045,821$5,777,441$41,432,674
98$82,238,730$11,487,247$5,871,166$45,254,925
99$90,524,117$11,947,159$5,964,887$49,454,045
100$99,651,370$12,426,363$6,058,504$54,068,029