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%13.7%
1 years$246,911$244,712$242,566$240,472$238,427$234,767
2 years$122,233$119,957$117,751$115,611$113,537$109,858
3 years$80,679$78,393$76,192$74,073$72,032$68,450
4 years$59,907$57,627$55,449$53,366$51,374$47,915
5 years$47,446$45,180$43,030$40,990$39,054$35,728
6 years$39,142$36,893$34,775$32,780$30,902$27,714
7 years$33,213$30,983$28,898$26,950$25,131$22,082
8 years$28,768$26,558$24,508$22,608$20,849$17,937
9 years$25,312$23,124$21,109$19,257$17,558$14,783
10 years$22,550$20,382$18,403$16,600$14,960$12,319
11 years$20,291$18,145$16,202$14,447$12,866$10,357
12 years$18,410$16,286$14,379$12,672$11,150$8,769
13 years$16,819$14,718$12,846$11,187$9,723$7,467
14 years$15,457$13,378$11,542$9,931$8,523$6,388
15 years$14,278$12,221$10,421$8,856$7,504$5,487
16 years$13,247$11,213$9,448$7,930$6,632$4,729
17 years$12,338$10,326$8,598$7,125$5,881$4,087
18 years$11,531$9,542$7,849$6,421$5,229$3,540
19 years$10,810$8,844$7,185$5,802$4,660$3,073
20 years$10,162$8,218$6,594$5,255$4,163$2,672
21 years$9,576$7,655$6,065$4,769$3,725$2,327
22 years$9,045$7,145$5,590$4,336$3,339$2,029
23 years$8,560$6,683$5,161$3,949$2,997$1,771
24 years$8,116$6,261$4,773$3,602$2,694$1,547
25 years$7,709$5,876$4,421$3,289$2,424$1,353
26 years$7,333$5,523$4,100$3,008$2,184$1,184
27 years$6,986$5,197$3,808$2,753$1,969$1,037
28 years$6,664$4,897$3,540$2,522$1,777$908
29 years$6,365$4,620$3,294$2,313$1,604$796
30 years$6,086$4,363$3,068$2,123$1,449$698
31 years$5,826$4,125$2,860$1,950$1,310$612
32 years$5,583$3,903$2,669$1,792$1,185$537
33 years$5,355$3,696$2,492$1,648$1,073$472
34 years$5,140$3,503$2,328$1,516$971$414
35 years$4,939$3,323$2,177$1,396$880$364
36 years$4,749$3,154$2,036$1,285$797$319
37 years$4,570$2,995$1,906$1,184$722$281
38 years$4,400$2,846$1,785$1,091$655$246
39 years$4,240$2,707$1,672$1,006$594$217
40 years$4,088$2,575$1,567$928$539$190
41 years$3,944$2,451$1,470$856$489$167
42 years$3,807$2,335$1,379$790$443$147
43 years$3,676$2,224$1,294$730$402$129
44 years$3,553$2,120$1,214$674$365$114
45 years$3,434$2,022$1,140$622$332$100
46 years$3,322$1,929$1,071$575$301$88
47 years$3,214$1,841$1,006$531$273$77
48 years$3,112$1,757$945$491$248$68
49 years$3,013$1,678$889$453$226$60
50 years$2,919$1,603$835$419$205$52

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 $3,878 every year, while hoping to spend $31,940 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: 58/14/28 Blend
62$2,990,000$2,990,000$2,990,000$2,990,000
63$3,298,980$3,140,510$3,094,165$3,464,879
64$3,601,492$3,260,411$3,163,836$3,698,867
65$3,933,790$3,385,117$3,234,770$3,950,180
66$4,298,878$3,514,829$3,306,976$4,223,558
67$4,700,066$3,649,758$3,380,462$4,521,148
68$5,141,000$3,790,124$3,455,235$4,845,316
69$5,625,698$3,936,155$3,531,301$5,198,665
70$6,158,585$4,088,093$3,608,665$5,584,060
71$6,744,536$4,246,185$3,687,332$6,004,656
72$7,388,925$4,410,694$3,767,303$6,463,926
73$8,097,670$4,581,893$3,848,582$6,965,693
74$8,877,291$4,760,064$3,931,169$7,514,168
75$9,734,974$4,945,507$4,015,062$8,113,986
76$10,678,635$5,138,530$4,100,260$8,770,252
77$11,716,996$5,339,458$4,186,759$9,488,587
78$12,859,667$5,548,630$4,274,554$10,275,183
79$14,117,239$5,766,399$4,363,637$11,136,857
80$15,501,379$5,993,133$4,454,000$12,081,120
81$17,024,942$6,229,220$4,545,632$13,116,242
82$18,702,095$6,475,061$4,638,520$14,251,332
83$20,548,448$6,731,077$4,732,649$15,496,425
84$22,581,198$6,997,708$4,828,001$16,862,573
85$24,819,298$7,275,414$4,924,557$18,361,953
86$27,283,631$7,564,674$5,022,294$20,007,975
87$29,997,209$7,865,990$5,121,188$21,815,414
88$32,985,386$8,179,886$5,221,210$23,800,545
89$36,276,104$8,506,909$5,322,330$25,981,299
90$39,900,152$8,847,632$5,424,512$28,377,429
91$43,891,454$9,202,653$5,527,720$31,010,695
92$48,287,396$9,572,597$5,631,912$33,905,073
93$53,129,173$9,958,116$5,737,044$37,086,976
94$58,462,179$10,359,895$5,843,066$40,585,504
95$64,336,439$10,778,647$5,949,926$44,432,721
96$70,807,072$11,215,118$6,057,565$48,663,952
97$77,934,823$11,670,088$6,165,923$53,318,116
98$85,786,625$12,144,372$6,274,931$58,438,096
99$94,436,237$12,638,823$6,384,518$64,071,142
100$103,964,941$13,154,333$6,494,607$70,269,313