Can I retire at age 63 with 2,990,000?

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 $2,990,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$246,911$244,712$242,566$240,472$238,427$232,192
2 years$122,233$119,957$117,751$115,611$113,537$107,298
3 years$80,679$78,393$76,192$74,073$72,032$65,984
4 years$59,907$57,627$55,449$53,366$51,374$45,564
5 years$47,446$45,180$43,030$40,990$39,054$33,497
6 years$39,142$36,893$34,775$32,780$30,902$25,604
7 years$33,213$30,983$28,898$26,950$25,131$20,093
8 years$28,768$26,558$24,508$22,608$20,849$16,068
9 years$25,312$23,124$21,109$19,257$17,558$13,029
10 years$22,550$20,382$18,403$16,600$14,960$10,679
11 years$20,291$18,145$16,202$14,447$12,866$8,825
12 years$18,410$16,286$14,379$12,672$11,150$7,342
13 years$16,819$14,718$12,846$11,187$9,723$6,141
14 years$15,457$13,378$11,542$9,931$8,523$5,159
15 years$14,278$12,221$10,421$8,856$7,504$4,349
16 years$13,247$11,213$9,448$7,930$6,632$3,677
17 years$12,338$10,326$8,598$7,125$5,881$3,116
18 years$11,531$9,542$7,849$6,421$5,229$2,647
19 years$10,810$8,844$7,185$5,802$4,660$2,252
20 years$10,162$8,218$6,594$5,255$4,163$1,919
21 years$9,576$7,655$6,065$4,769$3,725$1,637
22 years$9,045$7,145$5,590$4,336$3,339$1,398
23 years$8,560$6,683$5,161$3,949$2,997$1,195
24 years$8,116$6,261$4,773$3,602$2,694$1,022
25 years$7,709$5,876$4,421$3,289$2,424$874
26 years$7,333$5,523$4,100$3,008$2,184$749
27 years$6,986$5,197$3,808$2,753$1,969$642
28 years$6,664$4,897$3,540$2,522$1,777$550
29 years$6,365$4,620$3,294$2,313$1,604$471
30 years$6,086$4,363$3,068$2,123$1,449$404
31 years$5,826$4,125$2,860$1,950$1,310$347
32 years$5,583$3,903$2,669$1,792$1,185$298
33 years$5,355$3,696$2,492$1,648$1,073$255
34 years$5,140$3,503$2,328$1,516$971$219
35 years$4,939$3,323$2,177$1,396$880$188
36 years$4,749$3,154$2,036$1,285$797$162
37 years$4,570$2,995$1,906$1,184$722$139
38 years$4,400$2,846$1,785$1,091$655$119
39 years$4,240$2,707$1,672$1,006$594$102
40 years$4,088$2,575$1,567$928$539$88
41 years$3,944$2,451$1,470$856$489$75
42 years$3,807$2,335$1,379$790$443$65
43 years$3,676$2,224$1,294$730$402$56
44 years$3,553$2,120$1,214$674$365$48
45 years$3,434$2,022$1,140$622$332$41
46 years$3,322$1,929$1,071$575$301$35
47 years$3,214$1,841$1,006$531$273$30
48 years$3,112$1,757$945$491$248$26
49 years$3,013$1,678$889$453$226$22
50 years$2,919$1,603$835$419$205$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $2,990,000, adding $4,247 every year, while hoping to spend $42,496 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: 49/39/12 Blend
62$2,990,000$2,990,000$2,990,000$2,990,000
63$3,299,361$3,140,891$3,094,546$3,450,024
64$3,590,680$3,249,579$3,152,998$3,662,671
65$3,910,290$3,362,169$3,211,983$3,888,735
66$4,261,031$3,478,806$3,271,476$4,133,331
67$4,646,031$3,599,643$3,331,446$4,398,208
68$5,068,739$3,724,838$3,391,862$4,685,287
69$5,532,951$3,854,556$3,452,690$4,996,683
70$6,042,849$3,988,966$3,513,892$5,334,718
71$6,603,041$4,128,247$3,575,428$5,701,949
72$7,218,602$4,272,582$3,637,257$6,101,186
73$7,895,126$4,422,165$3,699,332$6,535,523
74$8,638,773$4,577,195$3,761,603$7,008,362
75$9,456,329$4,737,879$3,824,018$7,523,446
76$10,355,272$4,904,433$3,886,520$8,084,895
77$11,343,842$5,077,081$3,949,050$8,697,241
78$12,431,113$5,256,058$4,011,543$9,365,473
79$13,627,088$5,441,606$4,073,931$10,095,083
80$14,942,784$5,633,978$4,136,141$10,892,116
81$16,390,342$5,833,437$4,198,096$11,763,223
82$17,983,138$6,040,257$4,259,713$12,715,731
83$19,735,910$6,254,721$4,320,905$13,757,703
84$21,664,897$6,477,126$4,381,579$14,898,018
85$23,787,992$6,707,781$4,441,638$16,146,453
86$26,124,911$6,947,006$4,500,977$17,513,771
87$28,697,378$7,195,136$4,559,486$19,011,826
88$31,529,330$7,452,517$4,617,048$20,653,672
89$34,647,143$7,719,512$4,673,540$22,453,684
90$38,079,880$7,996,496$4,728,833$24,427,694
91$41,859,567$8,283,863$4,782,787$26,593,139
92$46,021,491$8,582,021$4,835,259$28,969,222
93$50,604,537$8,891,394$4,886,094$31,577,095
94$55,651,552$9,212,425$4,935,131$34,440,057
95$61,209,752$9,545,575$4,982,199$37,583,770
96$67,331,163$9,891,324$5,027,119$41,036,502
97$74,073,115$10,250,173$5,069,701$44,829,392
98$81,498,783$10,622,642$5,109,746$48,996,742
99$89,677,781$11,009,273$5,147,045$53,576,336
100$98,686,819$11,410,632$5,181,375$58,609,803