Can I retire at age 63 with 2,070,000?

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 $2,070,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$170,939$169,416$167,930$166,481$165,065$162,935
2 years$84,623$83,047$81,520$80,039$78,602$76,459
3 years$55,855$54,272$52,749$51,282$49,868$47,779
4 years$41,474$39,896$38,387$36,945$35,567$33,547
5 years$32,847$31,279$29,790$28,378$27,037$25,093
6 years$27,098$25,541$24,075$22,694$21,394$19,528
7 years$22,993$21,450$20,006$18,658$17,399$15,612
8 years$19,916$18,386$16,967$15,652$14,434$12,725
9 years$17,524$16,009$14,614$13,332$12,155$10,525
10 years$15,611$14,111$12,741$11,492$10,357$8,803
11 years$14,047$12,562$11,217$10,002$8,907$7,428
12 years$12,745$11,275$9,954$8,773$7,719$6,313
13 years$11,644$10,189$8,894$7,745$6,731$5,397
14 years$10,701$9,262$7,991$6,875$5,900$4,636
15 years$9,885$8,461$7,215$6,131$5,195$3,999
16 years$9,171$7,763$6,541$5,490$4,592$3,460
17 years$8,542$7,149$5,952$4,933$4,071$3,003
18 years$7,983$6,606$5,434$4,445$3,620$2,613
19 years$7,484$6,122$4,974$4,017$3,226$2,278
20 years$7,035$5,689$4,565$3,638$2,882$1,989
21 years$6,630$5,299$4,199$3,302$2,579$1,740
22 years$6,262$4,947$3,870$3,002$2,312$1,524
23 years$5,926$4,627$3,573$2,734$2,075$1,337
24 years$5,619$4,335$3,305$2,494$1,865$1,173
25 years$5,337$4,068$3,061$2,277$1,678$1,031
26 years$5,077$3,823$2,839$2,082$1,512$906
27 years$4,836$3,598$2,636$1,906$1,363$797
28 years$4,614$3,391$2,451$1,746$1,230$702
29 years$4,407$3,199$2,280$1,601$1,111$618
30 years$4,214$3,021$2,124$1,470$1,003$545
31 years$4,034$2,856$1,980$1,350$907$480
32 years$3,865$2,702$1,848$1,240$821$424
33 years$3,707$2,559$1,725$1,141$743$374
34 years$3,559$2,425$1,612$1,050$672$330
35 years$3,419$2,300$1,507$966$609$291
36 years$3,288$2,183$1,410$890$552$257
37 years$3,164$2,074$1,320$820$500$227
38 years$3,046$1,971$1,236$756$453$200
39 years$2,935$1,874$1,158$697$411$177
40 years$2,830$1,783$1,085$643$373$156
41 years$2,730$1,697$1,017$593$338$138
42 years$2,635$1,616$954$547$307$122
43 years$2,545$1,540$896$505$279$108
44 years$2,459$1,468$841$466$253$95
45 years$2,378$1,400$789$431$230$84
46 years$2,300$1,335$741$398$208$74
47 years$2,225$1,274$697$368$189$66
48 years$2,154$1,217$655$340$172$58
49 years$2,086$1,162$615$314$156$51
50 years$2,021$1,110$578$290$142$45

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $2,070,000, adding $2,953 every year, while hoping to spend $32,959 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: 54/28/18 Blend
62$2,070,000$2,070,000$2,070,000$2,070,000
63$2,284,186$2,174,476$2,142,391$2,396,282
64$2,482,105$2,245,957$2,179,093$2,544,734
65$2,699,107$2,319,836$2,215,920$2,702,501
66$2,937,103$2,396,196$2,252,841$2,873,510
67$3,198,201$2,475,122$2,289,824$3,059,034
68$3,484,717$2,556,703$2,326,833$3,260,472
69$3,799,208$2,641,031$2,363,831$3,479,364
70$4,144,487$2,728,201$2,400,779$3,717,406
71$4,523,653$2,818,312$2,437,634$3,976,464
72$4,940,122$2,911,466$2,474,352$4,258,591
73$5,397,656$3,007,769$2,510,883$4,566,048
74$5,900,397$3,107,330$2,547,178$4,901,323
75$6,452,912$3,210,263$2,583,183$5,267,158
76$7,060,229$3,316,687$2,618,840$5,666,569
77$7,727,890$3,426,722$2,654,089$6,102,877
78$8,462,000$3,540,496$2,688,866$6,579,742
79$9,269,283$3,658,140$2,723,102$7,101,191
80$10,157,150$3,779,789$2,756,726$7,671,661
81$11,133,765$3,905,585$2,789,662$8,296,036
82$12,208,124$4,035,673$2,821,830$8,979,699
83$13,390,136$4,170,204$2,853,146$9,728,576
84$14,690,723$4,309,337$2,883,518$10,549,194
85$16,121,915$4,453,233$2,912,855$11,448,744
86$17,696,970$4,602,061$2,941,055$12,435,147
87$19,430,496$4,755,996$2,968,015$13,517,126
88$21,338,586$4,915,220$2,993,623$14,704,292
89$23,438,977$5,079,921$3,017,764$16,007,233
90$25,751,208$5,250,293$3,040,316$17,437,612
91$28,296,814$5,426,539$3,061,148$19,008,279
92$31,099,518$5,608,870$3,080,127$20,733,388
93$34,185,467$5,797,502$3,097,108$22,628,535
94$37,583,466$5,992,661$3,111,943$24,710,902
95$41,325,261$6,194,583$3,124,475$26,999,419
96$45,445,830$6,403,509$3,134,537$29,514,940
97$49,983,716$6,619,693$3,141,955$32,280,447
98$54,981,393$6,843,396$3,146,549$35,321,255
99$60,485,662$7,074,889$3,148,125$38,665,260
100$66,548,096$7,314,455$3,146,483$42,343,197