Can I retire at age 63 with 1,940,000?

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 $1,940,000?

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$160,203$158,776$157,384$156,025$154,698$150,653
2 years$79,309$77,832$76,400$75,012$73,666$69,618
3 years$52,347$50,864$49,436$48,061$46,737$42,813
4 years$38,869$37,390$35,977$34,625$33,333$29,563
5 years$30,784$29,314$27,919$26,596$25,339$21,734
6 years$25,396$23,937$22,563$21,269$20,050$16,613
7 years$21,549$20,103$18,750$17,486$16,306$13,037
8 years$18,665$17,232$15,901$14,669$13,527$10,425
9 years$16,423$15,003$13,696$12,494$11,392$8,454
10 years$14,631$13,225$11,940$10,770$9,707$6,929
11 years$13,165$11,773$10,512$9,373$8,348$5,726
12 years$11,945$10,567$9,329$8,222$7,234$4,764
13 years$10,913$9,549$8,335$7,259$6,308$3,984
14 years$10,029$8,680$7,489$6,443$5,530$3,347
15 years$9,264$7,929$6,762$5,746$4,869$2,822
16 years$8,595$7,275$6,130$5,145$4,303$2,386
17 years$8,005$6,700$5,578$4,623$3,816$2,022
18 years$7,482$6,191$5,092$4,166$3,393$1,717
19 years$7,014$5,738$4,662$3,765$3,024$1,461
20 years$6,593$5,332$4,278$3,409$2,701$1,245
21 years$6,213$4,967$3,935$3,094$2,417$1,062
22 years$5,868$4,636$3,627$2,813$2,167$907
23 years$5,554$4,336$3,349$2,562$1,945$775
24 years$5,266$4,063$3,097$2,337$1,748$663
25 years$5,002$3,813$2,869$2,134$1,573$567
26 years$4,758$3,583$2,660$1,951$1,417$486
27 years$4,533$3,372$2,470$1,786$1,277$416
28 years$4,324$3,178$2,297$1,637$1,153$357
29 years$4,130$2,998$2,137$1,501$1,041$306
30 years$3,949$2,831$1,991$1,377$940$262
31 years$3,780$2,676$1,856$1,265$850$225
32 years$3,622$2,532$1,732$1,163$769$193
33 years$3,474$2,398$1,617$1,069$696$166
34 years$3,335$2,273$1,511$984$630$142
35 years$3,204$2,156$1,412$905$571$122
36 years$3,081$2,046$1,321$834$517$105
37 years$2,965$1,943$1,237$768$469$90
38 years$2,855$1,847$1,158$708$425$77
39 years$2,751$1,756$1,085$653$385$66
40 years$2,652$1,671$1,017$602$350$57
41 years$2,559$1,591$954$556$317$49
42 years$2,470$1,515$894$513$288$42
43 years$2,385$1,443$839$473$261$36
44 years$2,305$1,376$788$437$237$31
45 years$2,228$1,312$740$404$215$27
46 years$2,155$1,251$695$373$195$23
47 years$2,086$1,194$653$345$177$20
48 years$2,019$1,140$613$318$161$17
49 years$1,955$1,089$577$294$146$15
50 years$1,894$1,040$542$272$133$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $1,940,000, adding $6,162 every year, while hoping to spend $42,453 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: 73/5/22 Blend
62$1,940,000$1,940,000$1,940,000$1,940,000
63$2,144,236$2,041,416$2,011,346$2,288,809
64$2,317,779$2,096,276$2,033,557$2,440,686
65$2,507,599$2,152,401$2,055,088$2,601,349
66$2,715,314$2,209,808$2,075,873$2,776,308
67$2,942,702$2,268,515$2,095,841$2,966,979
68$3,191,722$2,328,536$2,114,916$3,174,923
69$3,464,532$2,389,888$2,133,019$3,401,857
70$3,763,506$2,452,585$2,150,068$3,649,674
71$4,091,262$2,516,640$2,165,973$3,920,461
72$4,450,681$2,582,065$2,180,644$4,216,516
73$4,844,937$2,648,874$2,193,982$4,540,370
74$5,277,527$2,717,074$2,205,886$4,894,813
75$5,752,300$2,786,677$2,216,249$5,282,920
76$6,273,499$2,857,688$2,224,958$5,708,077
77$6,845,796$2,930,115$2,231,894$6,174,016
78$7,474,338$3,003,961$2,236,933$6,684,852
79$8,164,794$3,079,229$2,239,944$7,245,114
80$8,923,412$3,155,920$2,240,791$7,859,797
81$9,757,071$3,234,031$2,239,329$8,534,404
82$10,673,353$3,313,560$2,235,407$9,274,999
83$11,680,609$3,394,498$2,228,867$10,088,264
84$12,788,040$3,476,838$2,219,544$10,981,563
85$14,005,784$3,560,566$2,207,262$11,963,012
86$15,345,009$3,645,669$2,191,840$13,041,551
87$16,818,019$3,732,126$2,173,086$14,227,037
88$18,438,373$3,819,916$2,150,800$15,530,329
89$20,221,007$3,909,012$2,124,772$16,963,395
90$22,182,381$3,999,385$2,094,783$18,539,423
91$24,340,628$4,090,999$2,060,603$20,272,949
92$26,715,729$4,183,815$2,021,990$22,179,989
93$29,329,700$4,277,788$1,978,693$24,278,194
94$32,206,798$4,372,869$1,930,448$26,587,017
95$35,373,753$4,469,001$1,876,979$29,127,894
96$38,860,015$4,566,121$1,817,998$31,924,450
97$42,698,038$4,664,162$1,753,202$35,002,718
98$46,923,580$4,763,048$1,682,276$38,391,391
99$51,576,042$4,862,695$1,604,889$42,122,087
100$56,698,843$4,963,011$1,520,697$46,229,649