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

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 $2,960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$244,434$242,257$240,132$238,059$236,035$231,269
2 years$121,007$118,753$116,569$114,451$112,397$107,617
3 years$79,870$77,607$75,428$73,330$71,310$66,663
4 years$59,306$57,049$54,892$52,830$50,859$46,383
5 years$46,970$44,727$42,599$40,579$38,662$34,369
6 years$38,749$36,523$34,426$32,451$30,592$26,486
7 years$32,879$30,672$28,608$26,680$24,879$20,962
8 years$28,479$26,292$24,262$22,381$20,640$16,910
9 years$25,058$22,892$20,897$19,064$17,382$13,837
10 years$22,323$20,178$18,218$16,433$14,810$11,446
11 years$20,087$17,963$16,039$14,302$12,737$9,551
12 years$18,225$16,123$14,234$12,545$11,038$8,024
13 years$16,650$14,570$12,717$11,075$9,625$6,778
14 years$15,302$13,244$11,427$9,831$8,437$5,753
15 years$14,135$12,099$10,317$8,768$7,429$4,901
16 years$13,114$11,100$9,354$7,850$6,566$4,188
17 years$12,214$10,223$8,511$7,054$5,822$3,588
18 years$11,416$9,446$7,770$6,357$5,176$3,081
19 years$10,702$8,755$7,113$5,744$4,614$2,651
20 years$10,060$8,135$6,528$5,202$4,121$2,284
21 years$9,480$7,578$6,004$4,721$3,688$1,971
22 years$8,954$7,074$5,534$4,293$3,306$1,703
23 years$8,474$6,616$5,110$3,909$2,967$1,473
24 years$8,035$6,199$4,726$3,566$2,667$1,275
25 years$7,631$5,817$4,377$3,256$2,400$1,104
26 years$7,260$5,467$4,059$2,977$2,162$957
27 years$6,916$5,145$3,769$2,725$1,949$830
28 years$6,597$4,848$3,504$2,497$1,759$720
29 years$6,301$4,574$3,261$2,290$1,588$625
30 years$6,025$4,319$3,037$2,101$1,435$543
31 years$5,768$4,083$2,832$1,930$1,297$471
32 years$5,527$3,864$2,642$1,774$1,173$409
33 years$5,301$3,659$2,467$1,631$1,062$356
34 years$5,089$3,468$2,305$1,501$962$309
35 years$4,889$3,289$2,155$1,382$871$269
36 years$4,701$3,122$2,016$1,272$789$234
37 years$4,524$2,965$1,887$1,172$715$203
38 years$4,356$2,818$1,767$1,081$648$177
39 years$4,197$2,680$1,655$996$588$154
40 years$4,047$2,549$1,552$919$533$134
41 years$3,904$2,427$1,455$848$484$116
42 years$3,769$2,311$1,365$782$439$101
43 years$3,640$2,202$1,281$722$398$88
44 years$3,517$2,099$1,202$667$362$77
45 years$3,400$2,002$1,129$616$328$67
46 years$3,288$1,909$1,060$569$298$58
47 years$3,182$1,822$996$526$271$50
48 years$3,080$1,740$936$486$246$44
49 years$2,983$1,661$880$449$223$38
50 years$2,890$1,587$827$415$203$33

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 $6,936 every year, while hoping to spend $21,867 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: 21/49/30 Blend
62$2,960,000$2,960,000$2,960,000$2,960,000
63$3,269,074$3,112,194$3,066,314$3,306,542
64$3,579,254$3,241,426$3,145,770$3,471,073
65$3,920,338$3,376,256$3,227,154$3,644,585
66$4,295,458$3,516,938$3,310,508$3,829,592
67$4,708,059$3,663,733$3,395,875$4,027,042
68$5,161,942$3,816,916$3,483,298$4,237,968
69$5,661,291$3,976,776$3,572,819$4,463,499
70$6,210,718$4,143,613$3,664,484$4,704,871
71$6,815,304$4,317,743$3,758,336$4,963,437
72$7,480,647$4,499,494$3,854,423$5,240,674
73$8,212,915$4,689,212$3,952,788$5,538,203
74$9,018,906$4,887,257$4,053,480$5,857,796
75$9,906,109$5,094,007$4,156,546$6,201,395
76$10,882,775$5,309,856$4,262,034$6,571,128
77$11,957,999$5,535,219$4,369,992$6,969,326
78$13,141,798$5,770,528$4,480,470$7,398,547
79$14,445,213$6,016,236$4,593,518$7,861,592
80$15,880,409$6,272,817$4,709,185$8,361,538
81$17,460,792$6,540,766$4,827,524$8,901,756
82$19,201,133$6,820,603$4,948,586$9,485,949
83$21,117,707$7,112,871$5,072,422$10,118,178
84$23,228,450$7,418,139$5,199,085$10,802,902
85$25,553,127$7,737,002$5,328,629$11,545,019
86$28,113,515$8,070,084$5,461,107$12,349,904
87$30,933,612$8,418,038$5,596,574$13,223,464
88$34,039,864$8,781,545$5,735,082$14,172,187
89$37,461,411$9,161,321$5,876,688$15,203,200
90$41,230,364$9,558,115$6,021,446$16,324,338
91$45,382,108$9,972,710$6,169,412$17,544,209
92$49,955,638$10,405,928$6,320,642$18,872,276
93$54,993,921$10,858,626$6,475,192$20,318,942
94$60,544,307$11,331,705$6,633,117$21,895,644
95$66,658,975$11,826,107$6,794,475$23,614,960
96$73,395,422$12,342,817$6,959,321$25,490,720
97$80,817,009$12,882,869$7,127,712$27,538,135
98$88,993,558$13,447,345$7,299,705$29,773,938
99$98,002,012$14,037,375$7,475,356$32,216,533
100$107,927,158$14,654,148$7,654,721$34,886,170