Can I retire at age 63 with 1,980,000?

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 $1,980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.9%
1 years$163,507$162,050$160,629$159,242$157,888$154,071
2 years$80,944$79,436$77,975$76,559$75,185$71,362
3 years$53,427$51,913$50,455$49,052$47,700$43,992
4 years$39,671$38,161$36,718$35,339$34,020$30,454
5 years$31,419$29,919$28,495$27,144$25,862$22,448
6 years$25,920$24,431$23,028$21,707$20,463$17,205
7 years$21,994$20,517$19,137$17,847$16,642$13,540
8 years$19,050$17,587$16,229$14,971$13,806$10,859
9 years$16,762$15,313$13,978$12,752$11,627$8,832
10 years$14,932$13,497$12,187$10,992$9,907$7,262
11 years$13,437$12,016$10,729$9,567$8,520$6,021
12 years$12,191$10,785$9,522$8,391$7,383$5,025
13 years$11,138$9,746$8,507$7,408$6,438$4,217
14 years$10,236$8,859$7,644$6,576$5,644$3,555
15 years$9,455$8,093$6,901$5,865$4,969$3,007
16 years$8,772$7,425$6,257$5,251$4,392$2,552
17 years$8,170$6,838$5,693$4,718$3,894$2,171
18 years$7,636$6,319$5,197$4,252$3,463$1,850
19 years$7,159$5,856$4,758$3,842$3,086$1,580
20 years$6,729$5,442$4,367$3,480$2,757$1,351
21 years$6,342$5,069$4,016$3,158$2,467$1,157
22 years$5,989$4,732$3,702$2,871$2,211$992
23 years$5,668$4,425$3,418$2,615$1,985$851
24 years$5,375$4,146$3,161$2,385$1,784$731
25 years$5,105$3,891$2,928$2,178$1,605$628
26 years$4,856$3,657$2,715$1,992$1,446$540
27 years$4,626$3,442$2,521$1,823$1,304$465
28 years$4,413$3,243$2,344$1,670$1,176$400
29 years$4,215$3,059$2,181$1,532$1,062$344
30 years$4,030$2,889$2,032$1,406$960$296
31 years$3,858$2,731$1,894$1,291$868$255
32 years$3,697$2,584$1,767$1,186$785$220
33 years$3,546$2,448$1,650$1,091$710$190
34 years$3,404$2,320$1,542$1,004$643$163
35 years$3,270$2,200$1,441$924$583$141
36 years$3,145$2,088$1,348$851$528$121
37 years$3,026$1,983$1,262$784$478$105
38 years$2,914$1,885$1,182$723$434$90
39 years$2,808$1,792$1,107$666$393$78
40 years$2,707$1,705$1,038$615$357$67
41 years$2,612$1,623$973$567$324$58
42 years$2,521$1,546$913$523$294$50
43 years$2,435$1,473$857$483$267$43
44 years$2,353$1,404$804$446$242$37
45 years$2,274$1,339$755$412$220$32
46 years$2,200$1,277$709$381$199$28
47 years$2,129$1,219$666$352$181$24
48 years$2,060$1,164$626$325$164$21
49 years$1,995$1,111$588$300$149$18
50 years$1,933$1,061$553$278$136$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $1,980,000, adding $2,136 every year, while hoping to spend $47,788 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: 60/35/5 Blend
62$1,980,000$1,980,000$1,980,000$1,980,000
63$2,184,163$2,079,223$2,048,533$2,313,237
64$2,356,102$2,130,259$2,066,313$2,450,825
65$2,543,977$2,182,194$2,083,087$2,595,111
66$2,749,362$2,235,022$2,098,770$2,751,250
67$2,973,993$2,288,734$2,113,275$2,920,382
68$3,219,779$2,343,320$2,126,508$3,103,761
69$3,488,821$2,398,768$2,138,371$3,302,768
70$3,783,436$2,455,062$2,148,761$3,518,922
71$4,106,172$2,512,186$2,157,570$3,753,898
72$4,459,837$2,570,118$2,164,685$4,009,538
73$4,847,523$2,628,837$2,169,984$4,287,873
74$5,272,636$2,688,315$2,173,344$4,591,138
75$5,738,926$2,748,524$2,174,633$4,921,796
76$6,250,525$2,809,430$2,173,711$5,282,560
77$6,811,983$2,870,997$2,170,436$5,676,417
78$7,428,313$2,933,184$2,164,653$6,106,659
79$8,105,037$2,995,945$2,156,204$6,576,913
80$8,848,235$3,059,232$2,144,922$7,091,172
81$9,664,610$3,122,988$2,130,631$7,653,839
82$10,561,540$3,187,155$2,113,148$8,269,762
83$11,547,159$3,251,667$2,092,279$8,944,285
84$12,630,423$3,316,453$2,067,825$9,683,293
85$13,821,203$3,381,435$2,039,573$10,493,272
86$15,130,369$3,446,530$2,007,303$11,381,371
87$16,569,902$3,511,645$1,970,783$12,355,464
88$18,152,999$3,576,682$1,929,771$13,424,228
89$19,894,200$3,641,535$1,884,013$14,597,226
90$21,809,526$3,706,088$1,833,245$15,884,995
91$23,916,628$3,770,216$1,777,189$17,299,146
92$26,234,953$3,833,786$1,715,555$18,852,474
93$28,785,932$3,896,655$1,648,039$20,559,079
94$31,593,173$3,958,667$1,574,324$22,434,501
95$34,682,691$4,019,656$1,494,079$24,495,861
96$38,083,151$4,079,445$1,406,956$26,762,030
97$41,826,137$4,137,842$1,312,594$29,253,802
98$45,946,451$4,194,644$1,210,613$31,994,095
99$50,482,439$4,249,632$1,100,619$35,008,163
100$55,476,355$4,302,572$982,197$38,323,838