Can I retire at age 63 with 2,920,000?

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 $2,920,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.8%
1 years$241,131$238,983$236,887$234,842$232,845$227,308
2 years$119,372$117,149$114,994$112,905$110,879$105,333
3 years$78,791$76,558$74,409$72,339$70,346$64,964
4 years$58,504$56,278$54,150$52,116$50,171$44,995
5 years$46,335$44,123$42,023$40,030$38,139$33,184
6 years$38,225$36,030$33,961$32,013$30,178$25,448
7 years$32,435$30,258$28,222$26,319$24,543$20,038
8 years$28,094$25,936$23,934$22,079$20,361$16,080
9 years$24,720$22,582$20,614$18,806$17,147$13,087
10 years$22,022$19,905$17,972$16,211$14,610$10,766
11 years$19,816$17,720$15,822$14,108$12,565$8,932
12 years$17,979$15,905$14,042$12,375$10,889$7,460
13 years$16,425$14,373$12,546$10,925$9,495$6,265
14 years$15,095$13,065$11,272$9,698$8,323$5,284
15 years$13,944$11,935$10,177$8,649$7,329$4,473
16 years$12,937$10,950$9,227$7,744$6,477$3,798
17 years$12,049$10,085$8,396$6,958$5,743$3,233
18 years$11,261$9,319$7,665$6,271$5,106$2,758
19 years$10,557$8,637$7,017$5,666$4,551$2,357
20 years$9,924$8,025$6,440$5,132$4,065$2,018
21 years$9,352$7,475$5,923$4,657$3,638$1,729
22 years$8,833$6,978$5,459$4,235$3,261$1,483
23 years$8,360$6,526$5,041$3,857$2,927$1,274
24 years$7,926$6,115$4,662$3,517$2,631$1,095
25 years$7,528$5,738$4,318$3,212$2,368$941
26 years$7,161$5,393$4,004$2,937$2,133$810
27 years$6,822$5,076$3,718$2,688$1,923$697
28 years$6,508$4,783$3,457$2,463$1,735$601
29 years$6,216$4,512$3,217$2,259$1,567$518
30 years$5,944$4,261$2,996$2,073$1,416$446
31 years$5,690$4,028$2,793$1,904$1,280$385
32 years$5,452$3,811$2,606$1,750$1,158$332
33 years$5,229$3,609$2,434$1,609$1,048$286
34 years$5,020$3,421$2,274$1,480$949$247
35 years$4,823$3,245$2,126$1,363$859$213
36 years$4,638$3,080$1,989$1,255$778$184
37 years$4,463$2,925$1,861$1,156$706$158
38 years$4,297$2,780$1,743$1,066$640$137
39 years$4,140$2,643$1,633$983$580$118
40 years$3,992$2,515$1,531$907$526$102
41 years$3,851$2,394$1,435$836$477$88
42 years$3,718$2,280$1,346$772$433$76
43 years$3,590$2,172$1,263$713$393$66
44 years$3,469$2,071$1,186$658$357$57
45 years$3,354$1,975$1,113$608$324$49
46 years$3,244$1,884$1,046$561$294$42
47 years$3,139$1,798$983$519$267$36
48 years$3,039$1,716$923$479$243$31
49 years$2,943$1,639$868$443$220$27
50 years$2,851$1,565$816$409$200$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $2,920,000, adding $5,644 every year, while hoping to spend $52,628 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: 54/25/21 Blend
62$2,920,000$2,920,000$2,920,000$2,920,000
63$3,223,662$3,068,902$3,023,642$3,378,959
64$3,496,480$3,163,282$3,068,938$3,580,487
65$3,795,361$3,260,523$3,113,988$3,793,755
66$4,122,908$3,360,710$3,158,727$4,024,792
67$4,481,989$3,463,929$3,203,089$4,275,310
68$4,875,761$3,570,270$3,247,001$4,547,198
69$5,307,700$3,679,824$3,290,387$4,842,532
70$5,781,637$3,792,688$3,333,166$5,163,598
71$6,301,791$3,908,956$3,375,255$5,512,916
72$6,872,809$4,028,731$3,416,561$5,893,256
73$7,499,811$4,152,114$3,456,991$6,307,672
74$8,188,434$4,279,210$3,496,443$6,759,525
75$8,944,893$4,410,130$3,534,812$7,252,518
76$9,776,029$4,544,983$3,571,985$7,790,728
77$10,689,381$4,683,885$3,607,845$8,378,646
78$11,693,256$4,826,953$3,642,265$9,021,219
79$12,796,804$4,974,309$3,675,117$9,723,894
80$14,010,104$5,126,077$3,706,259$10,492,674
81$15,344,264$5,282,384$3,735,548$11,334,170
82$16,811,520$5,443,362$3,762,830$12,255,664
83$18,425,353$5,609,144$3,787,943$13,265,180
84$20,200,618$5,779,871$3,810,718$14,371,557
85$22,153,679$5,955,684$3,830,976$15,584,532
86$24,302,570$6,136,728$3,848,529$16,914,834
87$26,667,159$6,323,153$3,863,181$18,374,283
88$29,269,335$6,515,114$3,874,723$19,975,901
89$32,133,220$6,712,768$3,882,940$21,734,036
90$35,285,392$6,916,277$3,887,602$23,664,497
91$38,755,135$7,125,807$3,888,469$25,784,703
92$42,574,716$7,341,529$3,885,290$28,113,846
93$46,779,692$7,563,619$3,877,802$30,673,073
94$51,409,238$7,792,254$3,865,726$33,485,685
95$56,506,527$8,027,621$3,848,774$36,577,357
96$62,119,125$8,269,907$3,826,641$39,976,381
97$68,299,450$8,519,306$3,799,007$43,713,930
98$75,105,259$8,776,017$3,765,539$47,824,355
99$82,600,198$9,040,245$3,725,887$52,345,507
100$90,854,398$9,312,196$3,679,684$57,319,097