Can I retire at age 63 with 2,060,000?

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 $2,060,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$170,113$168,598$167,119$165,676$164,267$160,688
2 years$84,214$82,646$81,126$79,652$78,223$74,634
3 years$55,585$54,010$52,494$51,034$49,628$46,143
4 years$41,273$39,703$38,202$36,767$35,395$32,040
5 years$32,689$31,128$29,646$28,241$26,907$23,691
6 years$26,967$25,418$23,959$22,584$21,290$18,218
7 years$22,882$21,346$19,910$18,568$17,315$14,386
8 years$19,820$18,298$16,885$15,576$14,364$11,578
9 years$17,439$15,931$14,543$13,267$12,097$9,451
10 years$15,536$14,043$12,679$11,437$10,307$7,799
11 years$13,980$12,501$11,162$9,953$8,864$6,491
12 years$12,684$11,221$9,906$8,730$7,682$5,439
13 years$11,588$10,140$8,851$7,708$6,699$4,583
14 years$10,649$9,217$7,952$6,842$5,872$3,879
15 years$9,837$8,420$7,180$6,102$5,170$3,295
16 years$9,127$7,725$6,510$5,463$4,569$2,808
17 years$8,501$7,115$5,924$4,909$4,052$2,399
18 years$7,945$6,574$5,407$4,424$3,602$2,054
19 years$7,448$6,093$4,950$3,997$3,211$1,762
20 years$7,001$5,662$4,543$3,620$2,868$1,514
21 years$6,598$5,274$4,179$3,286$2,567$1,302
22 years$6,231$4,923$3,851$2,987$2,301$1,122
23 years$5,897$4,604$3,556$2,721$2,065$967
24 years$5,592$4,314$3,289$2,481$1,856$834
25 years$5,311$4,048$3,046$2,266$1,670$720
26 years$5,052$3,805$2,825$2,072$1,505$622
27 years$4,813$3,581$2,623$1,897$1,356$538
28 years$4,591$3,374$2,439$1,738$1,224$465
29 years$4,385$3,183$2,269$1,594$1,105$402
30 years$4,193$3,006$2,114$1,462$999$348
31 years$4,014$2,842$1,971$1,343$903$301
32 years$3,846$2,689$1,839$1,234$817$261
33 years$3,689$2,546$1,717$1,135$739$226
34 years$3,542$2,413$1,604$1,044$669$196
35 years$3,403$2,289$1,500$961$606$170
36 years$3,272$2,173$1,403$885$549$147
37 years$3,148$2,064$1,313$816$498$127
38 years$3,032$1,961$1,230$752$451$110
39 years$2,921$1,865$1,152$693$409$96
40 years$2,816$1,774$1,080$640$371$83
41 years$2,717$1,689$1,013$590$337$72
42 years$2,623$1,608$950$545$306$62
43 years$2,533$1,533$891$503$277$54
44 years$2,448$1,461$837$464$252$47
45 years$2,366$1,393$786$429$228$41
46 years$2,289$1,329$738$396$207$35
47 years$2,215$1,268$693$366$188$31
48 years$2,144$1,211$651$338$171$27
49 years$2,076$1,156$612$312$155$23
50 years$2,011$1,104$576$289$141$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $2,060,000, adding $3,297 every year, while hoping to spend $47,056 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: 67/21/12 Blend
62$2,060,000$2,060,000$2,060,000$2,060,000
63$2,273,521$2,164,341$2,132,411$2,419,595
64$2,455,353$2,220,326$2,153,779$2,573,251
65$2,654,154$2,277,478$2,174,287$2,735,297
66$2,871,607$2,335,803$2,193,854$2,911,261
67$3,109,562$2,395,308$2,212,399$3,102,500
68$3,370,057$2,455,999$2,229,834$3,310,508
69$3,655,337$2,517,877$2,246,068$3,536,934
70$3,967,875$2,580,946$2,261,004$3,783,591
71$4,310,391$2,645,205$2,274,541$4,052,476
72$4,685,884$2,710,654$2,286,572$4,345,790
73$5,097,657$2,777,288$2,296,985$4,665,955
74$5,549,346$2,845,103$2,305,661$5,015,642
75$6,044,956$2,914,090$2,312,478$5,397,791
76$6,588,900$2,984,239$2,317,304$5,815,642
77$7,186,038$3,055,537$2,320,004$6,272,763
78$7,841,724$3,127,969$2,320,435$6,773,087
79$8,561,855$3,201,514$2,318,445$7,320,945
80$9,352,929$3,276,153$2,313,877$7,921,109
81$10,222,101$3,351,858$2,306,565$8,578,838
82$11,177,257$3,428,601$2,296,337$9,299,926
83$12,227,083$3,506,348$2,283,010$10,090,756
84$13,381,148$3,585,061$2,266,393$10,958,362
85$14,649,995$3,664,699$2,246,287$11,910,495
86$16,045,239$3,745,214$2,222,483$12,955,694
87$17,579,678$3,826,555$2,194,761$14,103,370
88$19,267,412$3,908,662$2,162,891$15,363,893
89$21,123,974$3,991,473$2,126,634$16,748,687
90$23,166,481$4,074,917$2,085,738$18,270,345
91$25,413,792$4,158,917$2,039,940$19,942,740
92$27,886,684$4,243,390$1,988,964$21,781,164
93$30,608,054$4,328,243$1,932,522$23,802,462
94$33,603,126$4,413,378$1,870,312$26,025,203
95$36,899,696$4,498,685$1,802,019$28,469,847
96$40,528,392$4,584,048$1,727,314$31,158,938
97$44,522,960$4,669,338$1,645,851$34,117,325
98$48,920,586$4,754,419$1,557,270$37,372,387
99$53,762,242$4,839,142$1,461,195$40,954,298
100$59,093,077$4,923,346$1,357,231$44,896,308