Can I retire at age 63 with 2,910,000?

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 $2,910,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$240,305$238,165$236,076$234,038$232,047$225,433
2 years$118,963$116,747$114,600$112,518$110,499$103,886
3 years$78,521$76,296$74,154$72,091$70,105$63,701
4 years$58,304$56,085$53,965$51,938$49,999$43,854
5 years$46,177$43,972$41,879$39,893$38,009$32,139
6 years$38,095$35,906$33,845$31,903$30,075$24,485
7 years$32,324$30,154$28,125$26,229$24,459$19,150
8 years$27,998$25,847$23,852$22,003$20,291$15,260
9 years$24,635$22,505$20,544$18,742$17,088$12,329
10 years$21,946$19,837$17,911$16,156$14,560$10,067
11 years$19,748$17,660$15,768$14,060$12,522$8,288
12 years$17,917$15,850$13,994$12,333$10,851$6,868
13 years$16,369$14,324$12,503$10,888$9,463$5,721
14 years$15,044$13,020$11,234$9,665$8,295$4,786
15 years$13,896$11,894$10,142$8,620$7,303$4,018
16 years$12,892$10,913$9,196$7,718$6,455$3,382
17 years$12,008$10,050$8,368$6,934$5,723$2,854
18 years$11,223$9,287$7,639$6,249$5,089$2,413
19 years$10,521$8,607$6,993$5,647$4,536$2,044
20 years$9,890$7,998$6,418$5,114$4,051$1,734
21 years$9,320$7,450$5,903$4,641$3,626$1,472
22 years$8,803$6,954$5,441$4,220$3,250$1,251
23 years$8,331$6,504$5,023$3,843$2,917$1,064
24 years$7,899$6,094$4,646$3,505$2,622$906
25 years$7,502$5,719$4,303$3,201$2,359$772
26 years$7,137$5,375$3,991$2,927$2,125$658
27 years$6,799$5,058$3,706$2,679$1,916$561
28 years$6,486$4,766$3,445$2,455$1,729$478
29 years$6,195$4,497$3,206$2,251$1,561$408
30 years$5,924$4,246$2,986$2,066$1,411$348
31 years$5,670$4,014$2,784$1,897$1,275$297
32 years$5,433$3,798$2,597$1,744$1,154$254
33 years$5,211$3,597$2,425$1,604$1,044$217
34 years$5,003$3,409$2,266$1,475$945$185
35 years$4,807$3,234$2,119$1,358$856$158
36 years$4,622$3,069$1,982$1,251$776$135
37 years$4,447$2,915$1,855$1,152$703$115
38 years$4,282$2,770$1,737$1,062$637$99
39 years$4,126$2,634$1,627$979$578$84
40 years$3,978$2,506$1,525$903$524$72
41 years$3,838$2,386$1,430$834$476$61
42 years$3,705$2,272$1,342$769$432$53
43 years$3,578$2,165$1,259$710$392$45
44 years$3,457$2,064$1,182$656$356$38
45 years$3,343$1,968$1,110$606$323$33
46 years$3,233$1,877$1,042$559$293$28
47 years$3,128$1,791$979$517$266$24
48 years$3,028$1,710$920$477$242$20
49 years$2,933$1,633$865$441$219$17
50 years$2,841$1,560$813$408$199$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $2,910,000, adding $6,029 every year, while hoping to spend $50,013 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: 76/15/9 Blend
62$2,910,000$2,910,000$2,910,000$2,910,000
63$3,213,039$3,058,809$3,013,704$3,452,061
64$3,487,555$3,155,477$3,061,450$3,706,849
65$3,788,396$3,255,206$3,109,118$3,979,083
66$4,118,194$3,358,092$3,156,655$4,276,058
67$4,479,848$3,464,237$3,204,001$4,600,213
68$4,876,550$3,573,742$3,251,093$4,954,232
69$5,311,819$3,686,716$3,297,865$5,341,072
70$5,789,528$3,803,268$3,344,247$5,763,988
71$6,313,944$3,923,513$3,390,163$6,226,565
72$6,889,767$4,047,566$3,435,535$6,732,752
73$7,522,177$4,175,550$3,480,279$7,286,897
74$8,216,876$4,307,589$3,524,305$7,893,788
75$8,980,149$4,443,813$3,567,521$8,558,699
76$9,818,918$4,584,353$3,609,827$9,287,442
77$10,740,809$4,729,349$3,651,118$10,086,413
78$11,754,225$4,878,940$3,691,284$10,962,664
79$12,868,422$5,033,273$3,730,207$11,923,958
80$14,093,597$5,192,500$3,767,766$12,978,850
81$15,440,987$5,356,776$3,803,829$14,136,761
82$16,922,971$5,526,261$3,838,261$15,408,073
83$18,553,188$5,701,122$3,870,916$16,804,222
84$20,346,666$5,881,529$3,901,644$18,337,806
85$22,319,961$6,067,660$3,930,285$20,022,706
86$24,491,318$6,259,695$3,956,669$21,874,213
87$26,880,836$6,457,824$3,980,622$23,909,178
88$29,510,665$6,662,241$4,001,956$26,146,162
89$32,405,207$6,873,146$4,020,476$28,605,618
90$35,591,353$7,090,745$4,035,977$31,310,080
91$39,098,732$7,315,252$4,048,243$34,284,377
92$42,959,991$7,546,887$4,057,047$37,555,865
93$47,211,103$7,785,878$4,062,152$41,154,688
94$51,891,709$8,032,460$4,063,307$45,114,058
95$57,045,486$8,286,873$4,060,251$49,470,571
96$62,720,565$8,549,369$4,052,708$54,264,550
97$68,969,979$8,820,205$4,040,391$59,540,427
98$75,852,169$9,099,647$4,022,996$65,347,161
99$83,431,531$9,387,970$4,000,207$71,738,699
100$91,779,025$9,685,458$3,971,691$78,774,486