Can I retire at age 63 with 2,960,000?

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 $2,960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.5%
1 years$244,434$242,257$240,132$238,059$236,035$227,932
2 years$121,007$118,753$116,569$114,451$112,397$104,317
3 years$79,870$77,607$75,428$73,330$71,310$63,505
4 years$59,306$57,049$54,892$52,830$50,859$43,389
5 years$46,970$44,727$42,599$40,579$38,662$31,547
6 years$38,749$36,523$34,426$32,451$30,592$23,838
7 years$32,879$30,672$28,608$26,680$24,879$18,485
8 years$28,479$26,292$24,262$22,381$20,640$14,600
9 years$25,058$22,892$20,897$19,064$17,382$11,689
10 years$22,323$20,178$18,218$16,433$14,810$9,455
11 years$20,087$17,963$16,039$14,302$12,737$7,709
12 years$18,225$16,123$14,234$12,545$11,038$6,325
13 years$16,650$14,570$12,717$11,075$9,625$5,215
14 years$15,302$13,244$11,427$9,831$8,437$4,318
15 years$14,135$12,099$10,317$8,768$7,429$3,586
16 years$13,114$11,100$9,354$7,850$6,566$2,987
17 years$12,214$10,223$8,511$7,054$5,822$2,493
18 years$11,416$9,446$7,770$6,357$5,176$2,084
19 years$10,702$8,755$7,113$5,744$4,614$1,746
20 years$10,060$8,135$6,528$5,202$4,121$1,464
21 years$9,480$7,578$6,004$4,721$3,688$1,228
22 years$8,954$7,074$5,534$4,293$3,306$1,032
23 years$8,474$6,616$5,110$3,909$2,967$868
24 years$8,035$6,199$4,726$3,566$2,667$730
25 years$7,631$5,817$4,377$3,256$2,400$614
26 years$7,260$5,467$4,059$2,977$2,162$517
27 years$6,916$5,145$3,769$2,725$1,949$436
28 years$6,597$4,848$3,504$2,497$1,759$367
29 years$6,301$4,574$3,261$2,290$1,588$309
30 years$6,025$4,319$3,037$2,101$1,435$261
31 years$5,768$4,083$2,832$1,930$1,297$220
32 years$5,527$3,864$2,642$1,774$1,173$185
33 years$5,301$3,659$2,467$1,631$1,062$156
34 years$5,089$3,468$2,305$1,501$962$132
35 years$4,889$3,289$2,155$1,382$871$111
36 years$4,701$3,122$2,016$1,272$789$94
37 years$4,524$2,965$1,887$1,172$715$79
38 years$4,356$2,818$1,767$1,081$648$67
39 years$4,197$2,680$1,655$996$588$56
40 years$4,047$2,549$1,552$919$533$48
41 years$3,904$2,427$1,455$848$484$40
42 years$3,769$2,311$1,365$782$439$34
43 years$3,640$2,202$1,281$722$398$29
44 years$3,517$2,099$1,202$667$362$24
45 years$3,400$2,002$1,129$616$328$20
46 years$3,288$1,909$1,060$569$298$17
47 years$3,182$1,822$996$526$271$14
48 years$3,080$1,740$936$486$246$12
49 years$2,983$1,661$880$449$223$10
50 years$2,890$1,587$827$415$203$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $2,960,000, adding $2,780 every year, while hoping to spend $26,136 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: 59/32/9 Blend
62$2,960,000$2,960,000$2,960,000$2,960,000
63$3,264,788$3,107,908$3,062,028$3,450,550
64$3,569,987$3,232,387$3,136,797$3,700,144
65$3,905,442$3,362,089$3,213,195$3,968,964
66$4,274,209$3,497,243$3,291,249$4,261,429
67$4,679,658$3,638,088$3,370,986$4,579,813
68$5,125,502$3,784,873$3,452,433$4,926,616
69$5,615,830$3,937,859$3,535,616$5,304,587
70$6,155,148$4,097,318$3,620,563$5,716,751
71$6,748,422$4,263,535$3,707,301$6,166,433
72$7,401,122$4,436,809$3,795,856$6,657,292
73$8,119,274$4,617,451$3,886,255$7,193,355
74$8,909,520$4,805,786$3,978,524$7,779,051
75$9,779,176$5,002,154$4,072,690$8,419,255
76$10,736,306$5,206,913$4,168,779$9,119,329
77$11,789,791$5,420,434$4,266,815$9,885,178
78$12,949,421$5,643,107$4,366,825$10,723,299
79$14,225,981$5,875,338$4,468,833$11,640,843
80$15,631,356$6,117,554$4,572,863$12,645,683
81$17,178,639$6,370,200$4,678,939$13,746,484
82$18,882,262$6,633,741$4,787,085$14,952,787
83$20,758,123$6,908,665$4,897,323$16,275,096
84$22,823,743$7,195,481$5,009,675$17,724,974
85$25,098,428$7,494,722$5,124,162$19,315,155
86$27,603,450$7,806,946$5,240,804$21,059,660
87$30,362,251$8,132,736$5,359,620$22,973,927
88$33,400,663$8,472,702$5,480,629$25,074,957
89$36,747,148$8,827,482$5,603,848$27,381,475
90$40,433,073$9,197,745$5,729,293$29,914,097
91$44,493,001$9,584,188$5,856,978$32,695,534
92$48,965,017$9,987,543$5,986,917$35,750,793
93$53,891,091$10,408,575$6,119,121$39,107,422
94$59,317,472$10,848,085$6,253,601$42,795,759
95$65,295,122$11,306,910$6,390,365$46,849,223
96$71,880,202$11,785,925$6,529,419$51,304,621
97$79,134,597$12,286,050$6,670,769$56,202,499
98$87,126,502$12,808,243$6,814,416$61,587,519
99$95,931,067$13,353,508$6,960,361$67,508,879
100$105,631,104$13,922,898$7,108,601$74,020,776