Can I retire at age 63 with 2,930,000?

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 $2,930,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$241,957$239,801$237,699$235,646$233,642$229,961
2 years$119,781$117,550$115,388$113,292$111,258$107,559
3 years$79,060$76,820$74,664$72,587$70,587$66,985
4 years$58,704$56,471$54,336$52,295$50,343$46,866
5 years$46,494$44,274$42,167$40,167$38,270$34,928
6 years$38,356$36,153$34,077$32,122$30,282$27,078
7 years$32,546$30,361$28,318$26,409$24,627$21,563
8 years$28,190$26,025$24,016$22,154$20,431$17,506
9 years$24,804$22,660$20,685$18,870$17,206$14,419
10 years$22,097$19,973$18,034$16,267$14,660$12,008
11 years$19,884$17,781$15,877$14,157$12,608$10,089
12 years$18,040$15,959$14,090$12,417$10,926$8,537
13 years$16,482$14,423$12,589$10,963$9,528$7,264
14 years$15,147$13,110$11,311$9,731$8,352$6,211
15 years$13,991$11,976$10,212$8,679$7,354$5,331
16 years$12,981$10,988$9,259$7,771$6,499$4,591
17 years$12,091$10,119$8,425$6,982$5,763$3,965
18 years$11,300$9,351$7,691$6,292$5,124$3,432
19 years$10,593$8,666$7,041$5,686$4,567$2,977
20 years$9,958$8,053$6,462$5,149$4,079$2,587
21 years$9,384$7,501$5,944$4,673$3,651$2,251
22 years$8,863$7,002$5,478$4,249$3,272$1,961
23 years$8,388$6,549$5,058$3,870$2,937$1,710
24 years$7,953$6,136$4,678$3,530$2,640$1,493
25 years$7,554$5,758$4,332$3,223$2,376$1,305
26 years$7,186$5,412$4,018$2,947$2,140$1,141
27 years$6,846$5,093$3,731$2,698$1,929$998
28 years$6,530$4,799$3,469$2,472$1,741$874
29 years$6,237$4,527$3,228$2,267$1,572$765
30 years$5,964$4,276$3,007$2,080$1,420$670
31 years$5,709$4,042$2,803$1,910$1,284$588
32 years$5,471$3,824$2,615$1,756$1,162$515
33 years$5,247$3,622$2,442$1,615$1,051$452
34 years$5,037$3,433$2,282$1,486$952$396
35 years$4,840$3,256$2,133$1,368$862$348
36 years$4,654$3,090$1,995$1,259$781$305
37 years$4,478$2,935$1,868$1,160$708$268
38 years$4,312$2,789$1,749$1,070$642$235
39 years$4,155$2,652$1,639$986$582$206
40 years$4,006$2,524$1,536$910$528$181
41 years$3,865$2,402$1,440$839$479$159
42 years$3,730$2,288$1,351$775$435$140
43 years$3,603$2,180$1,268$715$394$123
44 years$3,481$2,078$1,190$660$358$108
45 years$3,366$1,981$1,117$610$325$95
46 years$3,255$1,890$1,049$563$295$83
47 years$3,150$1,804$986$520$268$73
48 years$3,049$1,722$926$481$243$64
49 years$2,953$1,644$871$444$221$56
50 years$2,861$1,571$819$411$201$50

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $2,930,000, adding $2,642 every year, while hoping to spend $20,220 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: 38/49/13 Blend
62$2,930,000$2,930,000$2,930,000$2,930,000
63$3,231,585$3,076,295$3,030,880$3,341,536
64$3,539,693$3,205,520$3,110,901$3,549,360
65$3,878,550$3,340,399$3,192,924$3,771,655
66$4,251,272$3,481,188$3,276,997$4,011,445
67$4,661,290$3,628,154$3,363,164$4,270,312
68$5,112,386$3,781,578$3,451,475$4,549,989
69$5,608,726$3,941,753$3,541,977$4,852,379
70$6,154,902$4,108,985$3,634,719$5,179,568
71$6,755,972$4,283,594$3,729,752$5,533,846
72$7,417,509$4,465,918$3,827,126$5,917,727
73$8,145,654$4,656,307$3,926,894$6,333,969
74$8,947,174$4,855,130$4,029,108$6,785,604
75$9,829,525$5,062,770$4,133,822$7,275,957
76$10,800,922$5,279,632$4,241,091$7,808,685
77$11,870,419$5,506,137$4,350,970$8,387,802
78$13,047,990$5,742,726$4,463,516$9,017,720
79$14,344,627$5,989,862$4,578,787$9,703,287
80$15,772,443$6,248,028$4,696,839$10,449,833
81$17,344,782$6,517,731$4,817,733$11,263,213
82$19,076,351$6,799,502$4,941,529$12,149,868
83$20,983,357$7,093,895$5,068,288$13,116,877
84$23,083,655$7,401,492$5,198,072$14,172,025
85$25,396,924$7,722,901$5,330,943$15,323,873
86$27,944,846$8,058,759$5,466,965$16,581,838
87$30,751,315$8,409,734$5,606,204$17,956,277
88$33,842,662$8,776,523$5,748,724$19,458,583
89$37,247,899$9,159,858$5,894,592$21,101,292
90$40,998,999$9,560,505$6,043,875$22,898,195
91$45,131,193$9,979,266$6,196,641$24,864,467
92$49,683,305$10,416,981$6,352,959$27,016,806
93$54,698,118$10,874,529$6,512,899$29,373,591
94$60,222,776$11,352,830$6,676,531$31,955,045
95$66,309,230$11,852,850$6,843,926$34,783,430
96$73,014,731$12,375,599$7,015,156$37,883,248
97$80,402,364$12,922,134$7,190,295$41,281,471
98$88,541,650$13,493,563$7,369,414$45,007,791
99$97,509,198$14,091,048$7,552,589$49,094,895
100$107,389,429$14,715,802$7,739,894$53,578,771