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%12.3%
1 years$246,911$244,712$242,566$240,472$238,427$236,133
2 years$122,233$119,957$117,751$115,611$113,537$111,226
3 years$80,679$78,393$76,192$74,073$72,032$69,777
4 years$59,907$57,627$55,449$53,366$51,374$49,191
5 years$47,446$45,180$43,030$40,990$39,054$36,949
6 years$39,142$36,893$34,775$32,780$30,902$28,878
7 years$33,213$30,983$28,898$26,950$25,131$23,190
8 years$28,768$26,558$24,508$22,608$20,849$18,989
9 years$25,312$23,124$21,109$19,257$17,558$15,779
10 years$22,550$20,382$18,403$16,600$14,960$13,262
11 years$20,291$18,145$16,202$14,447$12,866$11,247
12 years$18,410$16,286$14,379$12,672$11,150$9,608
13 years$16,819$14,718$12,846$11,187$9,723$8,256
14 years$15,457$13,378$11,542$9,931$8,523$7,130
15 years$14,278$12,221$10,421$8,856$7,504$6,183
16 years$13,247$11,213$9,448$7,930$6,632$5,380
17 years$12,338$10,326$8,598$7,125$5,881$4,696
18 years$11,531$9,542$7,849$6,421$5,229$4,109
19 years$10,810$8,844$7,185$5,802$4,660$3,603
20 years$10,162$8,218$6,594$5,255$4,163$3,165
21 years$9,576$7,655$6,065$4,769$3,725$2,785
22 years$9,045$7,145$5,590$4,336$3,339$2,454
23 years$8,560$6,683$5,161$3,949$2,997$2,165
24 years$8,116$6,261$4,773$3,602$2,694$1,913
25 years$7,709$5,876$4,421$3,289$2,424$1,691
26 years$7,333$5,523$4,100$3,008$2,184$1,496
27 years$6,986$5,197$3,808$2,753$1,969$1,325
28 years$6,664$4,897$3,540$2,522$1,777$1,174
29 years$6,365$4,620$3,294$2,313$1,604$1,041
30 years$6,086$4,363$3,068$2,123$1,449$923
31 years$5,826$4,125$2,860$1,950$1,310$819
32 years$5,583$3,903$2,669$1,792$1,185$727
33 years$5,355$3,696$2,492$1,648$1,073$646
34 years$5,140$3,503$2,328$1,516$971$574
35 years$4,939$3,323$2,177$1,396$880$510
36 years$4,749$3,154$2,036$1,285$797$453
37 years$4,570$2,995$1,906$1,184$722$403
38 years$4,400$2,846$1,785$1,091$655$358
39 years$4,240$2,707$1,672$1,006$594$318
40 years$4,088$2,575$1,567$928$539$283
41 years$3,944$2,451$1,470$856$489$252
42 years$3,807$2,335$1,379$790$443$224
43 years$3,676$2,224$1,294$730$402$199
44 years$3,553$2,120$1,214$674$365$177
45 years$3,434$2,022$1,140$622$332$158
46 years$3,322$1,929$1,071$575$301$141
47 years$3,214$1,841$1,006$531$273$125
48 years$3,112$1,757$945$491$248$111
49 years$3,013$1,678$889$453$226$99
50 years$2,919$1,603$835$419$205$88

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 $3,649 every year, while hoping to spend $51,915 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: 67/23/10 Blend
62$2,990,000$2,990,000$2,990,000$2,990,000
63$3,298,744$3,140,274$3,093,929$3,512,694
64$3,579,979$3,238,910$3,142,338$3,754,036
65$3,888,159$3,340,640$3,190,630$4,011,258
66$4,225,980$3,445,559$3,238,744$4,291,120
67$4,596,406$3,553,768$3,286,618$4,595,830
68$5,002,707$3,665,370$3,334,187$4,927,819
69$5,448,480$3,780,471$3,381,380$5,289,762
70$5,937,691$3,899,179$3,428,122$5,684,606
71$6,474,705$4,021,609$3,474,334$6,115,593
72$7,064,333$4,147,875$3,519,932$6,586,295
73$7,711,873$4,278,099$3,564,827$7,100,644
74$8,423,162$4,412,404$3,608,927$7,662,969
75$9,204,629$4,550,916$3,652,131$8,278,039
76$10,063,359$4,693,769$3,694,335$8,951,104
77$11,007,155$4,841,097$3,735,428$9,687,948
78$12,044,614$4,993,040$3,775,294$10,494,941
79$13,185,207$5,149,742$3,813,809$11,379,098
80$14,439,371$5,311,352$3,850,845$12,348,146
81$15,818,601$5,478,022$3,886,262$13,410,598
82$17,335,565$5,649,912$3,919,919$14,575,828
83$19,004,219$5,827,184$3,951,662$15,854,164
84$20,839,938$6,010,005$3,981,332$17,256,985
85$22,859,666$6,198,549$4,008,760$18,796,824
86$25,082,068$6,392,994$4,033,770$20,487,488
87$27,527,713$6,593,525$4,056,176$22,344,189
88$30,219,263$6,800,331$4,075,781$24,383,685
89$33,181,689$7,013,608$4,092,380$26,624,439
90$36,442,503$7,233,557$4,105,757$29,086,792
91$40,032,024$7,460,387$4,115,685$31,793,155
92$43,983,656$7,694,311$4,121,926$34,768,221
93$48,334,208$7,935,551$4,124,230$38,039,193
94$53,124,239$8,184,335$4,122,333$41,636,048
95$58,398,441$8,440,898$4,115,962$45,591,810
96$64,206,062$8,705,481$4,104,826$49,942,871
97$70,601,365$8,978,335$4,088,622$54,729,326
98$77,644,147$9,259,716$4,067,034$59,995,353
99$85,400,299$9,549,891$4,039,728$65,789,633
100$93,942,426$9,849,132$4,006,356$72,165,803