Can I retire at age 63 with 2,970,000?

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 $2,970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$245,260$243,075$240,944$238,863$236,832$233,197
2 years$121,416$119,154$116,963$114,838$112,777$109,123
3 years$80,140$77,869$75,683$73,578$71,550$67,992
4 years$59,506$57,242$55,078$53,009$51,030$47,595
5 years$47,129$44,878$42,743$40,716$38,792$35,489
6 years$38,880$36,646$34,542$32,561$30,695$27,528
7 years$32,990$30,776$28,705$26,770$24,963$21,934
8 years$28,575$26,380$24,344$22,457$20,710$17,817
9 years$25,143$22,969$20,967$19,128$17,440$14,684
10 years$22,399$20,246$18,280$16,489$14,860$12,237
11 years$20,155$18,024$16,093$14,350$12,780$10,288
12 years$18,286$16,177$14,282$12,587$11,075$8,710
13 years$16,707$14,619$12,760$11,112$9,658$7,417
14 years$15,354$13,289$11,465$9,864$8,466$6,346
15 years$14,182$12,139$10,352$8,797$7,454$5,451
16 years$13,158$11,138$9,385$7,877$6,588$4,697
17 years$12,256$10,257$8,540$7,077$5,841$4,059
18 years$11,454$9,478$7,796$6,378$5,194$3,516
19 years$10,738$8,784$7,137$5,763$4,629$3,052
20 years$10,094$8,163$6,550$5,220$4,135$2,654
21 years$9,512$7,603$6,025$4,737$3,700$2,311
22 years$8,984$7,098$5,553$4,307$3,317$2,015
23 years$8,503$6,638$5,127$3,923$2,977$1,759
24 years$8,062$6,220$4,742$3,578$2,676$1,537
25 years$7,657$5,837$4,392$3,267$2,408$1,344
26 years$7,284$5,486$4,073$2,987$2,169$1,176
27 years$6,939$5,163$3,782$2,735$1,956$1,030
28 years$6,619$4,865$3,516$2,505$1,765$902
29 years$6,322$4,589$3,272$2,298$1,593$791
30 years$6,046$4,334$3,048$2,109$1,440$693
31 years$5,787$4,097$2,841$1,937$1,302$608
32 years$5,545$3,877$2,651$1,780$1,177$534
33 years$5,319$3,671$2,475$1,637$1,066$468
34 years$5,106$3,480$2,313$1,506$965$411
35 years$4,906$3,300$2,162$1,386$874$361
36 years$4,717$3,132$2,023$1,277$792$317
37 years$4,539$2,975$1,893$1,176$718$279
38 years$4,371$2,827$1,773$1,084$651$245
39 years$4,211$2,689$1,661$1,000$590$215
40 years$4,060$2,558$1,557$922$535$189
41 years$3,917$2,435$1,460$851$485$166
42 years$3,781$2,319$1,369$785$441$146
43 years$3,652$2,210$1,285$725$400$128
44 years$3,529$2,106$1,206$669$363$113
45 years$3,411$2,008$1,133$618$329$99
46 years$3,300$1,916$1,064$571$299$87
47 years$3,193$1,828$999$527$272$77
48 years$3,091$1,745$939$487$247$67
49 years$2,993$1,667$883$450$224$59
50 years$2,900$1,592$830$416$203$52

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $2,970,000, adding $4,054 every year, while hoping to spend $54,819 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: 52/39/9 Blend
62$2,970,000$2,970,000$2,970,000$2,970,000
63$3,277,122$3,119,712$3,073,677$3,439,811
64$3,553,061$3,214,251$3,118,318$3,645,463
65$3,855,309$3,311,585$3,162,617$3,862,742
66$4,186,491$3,411,793$3,206,505$4,097,743
67$4,549,499$3,514,956$3,249,909$4,352,151
68$4,947,517$3,621,158$3,292,750$4,627,816
69$5,384,053$3,730,484$3,334,947$4,926,776
70$5,862,970$3,843,022$3,376,411$5,251,273
71$6,388,524$3,958,861$3,417,051$5,603,773
72$6,965,401$4,078,093$3,456,771$5,986,992
73$7,598,765$4,200,812$3,495,466$6,403,917
74$8,294,304$4,327,116$3,533,028$6,857,837
75$9,058,281$4,457,104$3,569,343$7,352,373
76$9,897,601$4,590,877$3,604,291$7,891,509
77$10,819,865$4,728,539$3,637,744$8,479,634
78$11,833,451$4,870,197$3,669,568$9,121,579
79$12,947,586$5,015,959$3,699,621$9,822,665
80$14,172,437$5,165,939$3,727,756$10,588,749
81$15,519,205$5,320,249$3,753,815$11,426,281
82$17,000,231$5,479,008$3,777,635$12,342,368
83$18,629,110$5,642,336$3,799,042$13,344,832
84$20,420,823$5,810,354$3,817,853$14,442,292
85$22,391,875$5,983,189$3,833,879$15,644,239
86$24,560,449$6,160,968$3,846,917$16,961,128
87$26,946,584$6,343,824$3,856,757$18,404,475
88$29,572,354$6,531,891$3,863,178$19,986,966
89$32,462,086$6,725,305$3,865,946$21,722,573
90$35,642,580$6,924,207$3,864,817$23,626,692
91$39,143,370$7,128,740$3,859,535$25,716,279
92$42,996,996$7,339,050$3,849,832$28,010,017
93$47,239,314$7,555,287$3,835,425$30,528,489
94$51,909,831$7,777,604$3,816,019$33,294,368
95$57,052,082$8,006,155$3,791,304$36,332,638
96$62,714,038$8,241,100$3,760,956$39,670,822
97$68,948,557$8,482,601$3,724,635$43,339,245
98$75,813,883$8,730,822$3,681,984$47,371,319
99$83,374,199$8,985,932$3,632,630$51,803,856
100$91,700,227$9,248,102$3,576,183$56,677,418