Can I retire at age 63 with 3,100,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $3,100,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$255,995$253,715$251,490$249,319$247,198$241,419
2 years$126,730$124,370$122,083$119,865$117,714$111,923
3 years$83,648$81,277$78,996$76,799$74,682$69,063
4 years$62,110$59,747$57,489$55,329$53,264$47,858
5 years$49,192$46,843$44,613$42,498$40,490$35,313
6 years$40,582$38,251$36,054$33,986$32,039$27,096
7 years$34,434$32,123$29,961$27,942$26,056$21,348
8 years$29,826$27,535$25,410$23,440$21,616$17,141
9 years$26,243$23,974$21,885$19,965$18,204$13,959
10 years$23,379$21,132$19,080$17,210$15,511$11,490
11 years$21,037$18,813$16,798$14,978$13,340$9,539
12 years$19,087$16,885$14,908$13,138$11,560$7,972
13 years$17,438$15,259$13,319$11,599$10,080$6,699
14 years$16,026$13,870$11,967$10,296$8,836$5,654
15 years$14,803$12,671$10,805$9,182$7,780$4,790
16 years$13,734$11,625$9,796$8,222$6,876$4,070
17 years$12,792$10,706$8,914$7,387$6,097$3,468
18 years$11,956$9,893$8,137$6,657$5,421$2,960
19 years$11,208$9,169$7,449$6,015$4,832$2,532
20 years$10,536$8,520$6,837$5,448$4,316$2,169
21 years$9,929$7,936$6,288$4,945$3,862$1,860
22 years$9,377$7,408$5,796$4,496$3,462$1,597
23 years$8,875$6,929$5,351$4,094$3,108$1,372
24 years$8,415$6,492$4,949$3,734$2,793$1,180
25 years$7,992$6,092$4,584$3,410$2,514$1,016
26 years$7,603$5,726$4,251$3,118$2,264$875
27 years$7,243$5,389$3,948$2,854$2,041$754
28 years$6,909$5,078$3,670$2,615$1,842$650
29 years$6,599$4,790$3,415$2,398$1,663$560
30 years$6,310$4,524$3,181$2,201$1,503$483
31 years$6,041$4,276$2,966$2,021$1,359$417
32 years$5,788$4,046$2,767$1,858$1,229$360
33 years$5,552$3,832$2,584$1,708$1,112$311
34 years$5,329$3,632$2,414$1,572$1,007$268
35 years$5,120$3,445$2,257$1,447$912$232
36 years$4,924$3,270$2,111$1,333$826$200
37 years$4,738$3,105$1,976$1,228$749$173
38 years$4,562$2,951$1,850$1,132$679$149
39 years$4,396$2,806$1,734$1,043$616$129
40 years$4,238$2,670$1,625$962$559$111
41 years$4,089$2,542$1,524$888$507$96
42 years$3,947$2,420$1,429$819$460$83
43 years$3,812$2,306$1,341$756$417$72
44 years$3,683$2,198$1,259$698$379$62
45 years$3,561$2,096$1,182$645$344$54
46 years$3,444$2,000$1,110$596$312$46
47 years$3,333$1,908$1,043$550$283$40
48 years$3,226$1,822$980$509$257$35
49 years$3,124$1,740$921$470$234$30
50 years$3,027$1,662$866$435$212$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $3,100,000, adding $2,759 every year, while hoping to spend $22,178 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: 70/15/15 Blend
62$3,100,000$3,100,000$3,100,000$3,100,000
63$3,419,046$3,254,746$3,206,696$3,646,466
64$3,744,191$3,390,631$3,290,523$3,933,875
65$4,101,758$3,532,432$3,376,415$4,245,392
66$4,495,030$3,680,414$3,464,418$4,585,754
67$4,927,625$3,834,856$3,554,577$4,957,803
68$5,403,529$3,996,050$3,646,942$5,364,666
69$5,927,134$4,164,301$3,741,559$5,809,787
70$6,503,278$4,339,928$3,838,478$6,296,958
71$7,137,294$4,523,266$3,937,748$6,830,350
72$7,835,055$4,714,663$4,039,420$7,414,559
73$8,603,036$4,914,487$4,143,546$8,054,643
74$9,448,368$5,123,119$4,250,177$8,756,173
75$10,378,911$5,340,961$4,359,367$9,525,283
76$11,403,323$5,568,431$4,471,169$10,368,727
77$12,531,147$5,805,969$4,585,638$11,293,943
78$13,772,896$6,054,034$4,702,830$12,309,122
79$15,140,156$6,313,107$4,822,799$13,423,286
80$16,645,694$6,583,691$4,945,604$14,646,371
81$18,303,575$6,866,312$5,071,303$15,989,320
82$20,129,301$7,161,522$5,199,952$17,464,185
83$22,139,951$7,469,899$5,331,613$19,084,244
84$24,354,349$7,792,046$5,466,344$20,864,119
85$26,793,232$8,128,596$5,604,207$22,819,918
86$29,479,456$8,480,212$5,745,262$24,969,384
87$32,438,204$8,847,586$5,889,572$27,332,064
88$35,697,228$9,231,444$6,037,199$29,929,488
89$39,287,107$9,632,547$6,188,207$32,785,375
90$43,241,540$10,051,690$6,342,660$35,925,856
91$47,597,660$10,489,706$6,500,623$39,379,717
92$52,396,388$10,947,468$6,662,160$43,178,670
93$57,682,814$11,425,888$6,827,336$47,357,653
94$63,506,628$11,925,924$6,996,220$51,955,159
95$69,922,587$12,448,577$7,168,876$57,013,593
96$76,991,030$12,994,896$7,345,372$62,579,677
97$84,778,448$13,565,979$7,525,775$68,704,886
98$93,358,114$14,162,977$7,710,153$75,445,935
99$102,810,773$14,787,094$7,898,574$82,865,309
100$113,225,402$15,439,592$8,091,107$91,031,856