Can I retire at age 63 with 2,040,000?

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 $2,040,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.9%
1 years$168,461$166,961$165,497$164,068$162,672$156,218
2 years$83,397$81,843$80,338$78,879$77,463$71,041
3 years$55,046$53,486$51,984$50,538$49,146$42,957
4 years$40,873$39,318$37,831$36,410$35,051$29,144
5 years$32,371$30,825$29,359$27,966$26,645$21,034
6 years$26,705$25,171$23,726$22,365$21,084$15,772
7 years$22,660$21,139$19,716$18,387$17,147$12,132
8 years$19,627$18,120$16,721$15,425$14,225$9,503
9 years$17,270$15,777$14,402$13,138$11,979$7,543
10 years$15,385$13,906$12,556$11,326$10,207$6,048
11 years$13,844$12,380$11,054$9,857$8,778$4,886
12 years$12,560$11,112$9,810$8,646$7,607$3,972
13 years$11,475$10,042$8,765$7,633$6,634$3,244
14 years$10,546$9,128$7,875$6,775$5,815$2,659
15 years$9,741$8,338$7,110$6,043$5,120$2,187
16 years$9,038$7,650$6,446$5,410$4,525$1,803
17 years$8,418$7,045$5,866$4,861$4,012$1,489
18 years$7,867$6,510$5,355$4,381$3,567$1,232
19 years$7,376$6,034$4,902$3,959$3,180$1,021
20 years$6,933$5,607$4,499$3,585$2,840$847
21 years$6,534$5,223$4,138$3,254$2,542$703
22 years$6,171$4,875$3,814$2,958$2,278$584
23 years$5,840$4,560$3,522$2,694$2,045$486
24 years$5,538$4,272$3,257$2,457$1,838$404
25 years$5,259$4,009$3,016$2,244$1,654$336
26 years$5,003$3,768$2,798$2,052$1,490$280
27 years$4,766$3,546$2,598$1,878$1,343$233
28 years$4,547$3,341$2,415$1,721$1,212$194
29 years$4,343$3,152$2,247$1,578$1,094$162
30 years$4,153$2,977$2,093$1,448$989$135
31 years$3,975$2,814$1,952$1,330$894$112
32 years$3,809$2,663$1,821$1,222$809$94
33 years$3,653$2,522$1,700$1,124$732$78
34 years$3,507$2,390$1,589$1,034$663$65
35 years$3,370$2,267$1,485$952$600$54
36 years$3,240$2,152$1,389$877$544$45
37 years$3,118$2,044$1,300$808$493$38
38 years$3,002$1,942$1,218$745$447$31
39 years$2,893$1,847$1,141$687$405$26
40 years$2,789$1,757$1,069$633$368$22
41 years$2,691$1,673$1,003$584$333$18
42 years$2,597$1,593$941$539$303$15
43 years$2,508$1,518$883$498$275$13
44 years$2,424$1,447$828$460$249$11
45 years$2,343$1,380$778$424$226$9
46 years$2,266$1,316$731$392$205$7
47 years$2,193$1,256$686$362$187$6
48 years$2,123$1,199$645$335$169$5
49 years$2,056$1,145$606$309$154$4
50 years$1,992$1,094$570$286$140$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $2,040,000, adding $4,081 every year, while hoping to spend $31,440 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: 37/49/14 Blend
62$2,040,000$2,040,000$2,040,000$2,040,000
63$2,252,290$2,144,170$2,112,550$2,325,858
64$2,448,571$2,215,782$2,149,868$2,450,601
65$2,663,820$2,289,850$2,187,383$2,581,936
66$2,899,937$2,366,460$2,225,068$2,723,114
67$3,159,017$2,445,702$2,262,894$2,875,030
68$3,443,366$2,527,672$2,300,830$3,038,670
69$3,755,526$2,612,464$2,338,845$3,215,114
70$4,098,296$2,700,182$2,376,903$3,405,551
71$4,474,760$2,790,928$2,414,966$3,611,286
72$4,888,313$2,884,811$2,452,995$3,833,755
73$5,342,698$2,981,944$2,490,948$4,074,534
74$5,842,038$3,082,444$2,528,779$4,335,359
75$6,390,873$3,186,431$2,566,441$4,618,137
76$6,994,208$3,294,031$2,603,882$4,924,964
77$7,657,554$3,405,375$2,641,049$5,258,148
78$8,386,984$3,520,598$2,677,883$5,620,225
79$9,189,189$3,639,841$2,714,325$6,013,989
80$10,071,541$3,763,248$2,750,310$6,442,510
81$11,042,162$3,890,971$2,785,770$6,909,168
82$12,110,002$4,023,167$2,820,632$7,417,682
83$13,284,919$4,160,000$2,854,820$7,972,145
84$14,577,779$4,301,638$2,888,255$8,577,063
85$16,000,551$4,448,257$2,920,850$9,237,394
86$17,566,424$4,600,038$2,952,515$9,958,596
87$19,289,932$4,757,173$2,983,157$10,746,680
88$21,187,087$4,919,857$3,012,675$11,608,261
89$23,275,534$5,088,294$3,040,964$12,550,623
90$25,574,715$5,262,696$3,067,912$13,581,787
91$28,106,052$5,443,284$3,093,403$14,710,583
92$30,893,150$5,630,286$3,117,314$15,946,737
93$33,962,022$5,823,941$3,139,514$17,300,958
94$37,341,328$6,024,494$3,159,868$18,785,040
95$41,062,652$6,232,202$3,178,231$20,411,971
96$45,160,795$6,447,332$3,194,454$22,196,057
97$49,674,105$6,670,161$3,208,378$24,153,054
98$54,644,841$6,900,976$3,219,836$26,300,316
99$60,119,567$7,140,076$3,228,653$28,656,957
100$66,149,596$7,387,772$3,234,645$31,244,034