Can I retire at age 63 with 2,030,000?

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 $2,030,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.5%
1 years$167,636$166,142$164,685$163,264$161,875$155,698
2 years$82,988$81,442$79,944$78,492$77,083$70,933
3 years$54,776$53,223$51,729$50,291$48,905$42,975
4 years$40,672$39,125$37,646$36,232$34,879$29,214
5 years$32,213$30,674$29,215$27,829$26,515$21,130
6 years$26,575$25,048$23,610$22,255$20,980$15,878
7 years$22,549$21,035$19,620$18,297$17,063$12,243
8 years$19,531$18,031$16,639$15,349$14,155$9,612
9 years$17,185$15,699$14,331$13,074$11,921$7,649
10 years$15,310$13,838$12,494$11,270$10,157$6,148
11 years$13,776$12,319$11,000$9,808$8,735$4,980
12 years$12,499$11,057$9,762$8,603$7,570$4,059
13 years$11,419$9,992$8,722$7,595$6,601$3,324
14 years$10,494$9,083$7,837$6,742$5,786$2,733
15 years$9,694$8,297$7,075$6,013$5,095$2,254
16 years$8,994$7,613$6,415$5,384$4,503$1,863
17 years$8,377$7,011$5,837$4,837$3,993$1,544
18 years$7,829$6,478$5,329$4,359$3,550$1,281
19 years$7,339$6,004$4,878$3,939$3,164$1,065
20 years$6,899$5,579$4,477$3,568$2,826$886
21 years$6,502$5,197$4,118$3,238$2,529$738
22 years$6,141$4,851$3,795$2,944$2,267$615
23 years$5,812$4,537$3,504$2,681$2,035$513
24 years$5,510$4,251$3,241$2,445$1,829$428
25 years$5,234$3,989$3,002$2,233$1,646$357
26 years$4,979$3,749$2,784$2,042$1,483$299
27 years$4,743$3,529$2,585$1,869$1,337$249
28 years$4,524$3,325$2,403$1,712$1,206$208
29 years$4,321$3,137$2,236$1,570$1,089$174
30 years$4,132$2,962$2,083$1,441$984$146
31 years$3,956$2,800$1,942$1,324$890$122
32 years$3,790$2,650$1,812$1,216$805$102
33 years$3,635$2,509$1,692$1,119$728$85
34 years$3,490$2,378$1,581$1,029$659$71
35 years$3,353$2,256$1,478$947$597$60
36 years$3,224$2,141$1,383$873$541$50
37 years$3,102$2,034$1,294$804$490$42
38 years$2,987$1,933$1,212$741$445$35
39 years$2,878$1,838$1,135$683$403$29
40 years$2,775$1,748$1,064$630$366$24
41 years$2,677$1,664$998$581$332$20
42 years$2,584$1,585$936$537$301$17
43 years$2,496$1,510$878$495$273$14
44 years$2,412$1,440$824$457$248$12
45 years$2,332$1,373$774$422$225$10
46 years$2,255$1,310$727$390$204$8
47 years$2,182$1,250$683$360$186$7
48 years$2,113$1,193$642$333$169$6
49 years$2,046$1,139$603$308$153$5
50 years$1,982$1,088$567$285$139$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $2,030,000, adding $4,774 every year, while hoping to spend $52,128 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: 45/29/26 Blend
62$2,030,000$2,030,000$2,030,000$2,030,000
63$2,241,984$2,134,394$2,102,929$2,325,843
64$2,415,203$2,183,516$2,117,914$2,434,868
65$2,604,343$2,233,297$2,131,653$2,547,619
66$2,810,973$2,283,716$2,144,050$2,668,880
67$3,036,820$2,334,746$2,155,004$2,799,472
68$3,283,786$2,386,359$2,164,407$2,940,303
69$3,553,965$2,438,523$2,172,148$3,092,370
70$3,849,662$2,491,204$2,178,107$3,256,773
71$4,173,416$2,544,361$2,182,162$3,434,728
72$4,528,022$2,597,952$2,184,182$3,627,572
73$4,916,558$2,651,930$2,184,030$3,836,781
74$5,342,416$2,706,243$2,181,564$4,063,983
75$5,809,328$2,760,835$2,176,632$4,310,971
76$6,321,409$2,815,645$2,169,078$4,579,725
77$6,883,186$2,870,605$2,158,736$4,872,425
78$7,499,651$2,925,644$2,145,433$5,191,479
79$8,176,297$2,980,683$2,128,988$5,539,538
80$8,919,180$3,035,637$2,109,209$5,919,527
81$9,734,967$3,090,414$2,085,898$6,334,673
82$10,631,004$3,144,914$2,058,846$6,788,532
83$11,615,383$3,199,033$2,027,835$7,285,027
84$12,697,020$3,252,653$1,992,635$7,828,481
85$13,885,736$3,305,652$1,953,007$8,423,663
86$15,192,349$3,357,897$1,908,701$9,075,831
87$16,628,780$3,409,246$1,859,455$9,790,782
88$18,208,162$3,459,545$1,804,992$10,574,910
89$19,944,963$3,508,631$1,745,028$11,435,262
90$21,855,124$3,556,329$1,679,261$12,379,610
91$23,956,208$3,602,451$1,607,378$13,416,522
92$26,267,567$3,646,796$1,529,051$14,555,446
93$28,810,520$3,689,151$1,443,936$15,806,797
94$31,608,561$3,729,287$1,351,675$17,182,059
95$34,687,571$3,766,959$1,251,894$18,693,893
96$38,076,071$3,801,908$1,144,200$20,356,258
97$41,805,485$3,833,856$1,028,185$22,184,543
98$45,910,437$3,862,507$903,422$24,195,714
99$50,429,079$3,887,548$769,464$26,408,476
100$55,403,450$3,908,642$625,845$28,843,447