Can I retire at age 63 with 2,350,000?

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 $2,350,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$194,061$192,332$190,646$189,000$187,392$185,590
2 years$96,070$94,280$92,546$90,865$89,234$87,419
3 years$63,410$61,613$59,884$58,218$56,614$54,841
4 years$47,084$45,292$43,580$41,943$40,378$38,662
5 years$37,290$35,510$33,820$32,216$30,694$29,040
6 years$30,764$28,996$27,331$25,764$24,287$22,697
7 years$26,103$24,351$22,713$21,182$19,752$18,226
8 years$22,610$20,873$19,262$17,769$16,386$14,925
9 years$19,894$18,174$16,590$15,135$13,800$12,402
10 years$17,723$16,020$14,464$13,047$11,758$10,423
11 years$15,948$14,261$12,734$11,354$10,112$8,840
12 years$14,469$12,800$11,301$9,959$8,763$7,551
13 years$13,219$11,568$10,097$8,793$7,642$6,489
14 years$12,149$10,515$9,072$7,805$6,699$5,604
15 years$11,222$9,605$8,191$6,961$5,898$4,859
16 years$10,411$8,813$7,426$6,233$5,213$4,229
17 years$9,697$8,116$6,757$5,600$4,622$3,691
18 years$9,063$7,500$6,169$5,047$4,110$3,229
19 years$8,496$6,951$5,647$4,560$3,663$2,832
20 years$7,987$6,459$5,183$4,130$3,272$2,488
21 years$7,527$6,016$4,767$3,748$2,928$2,189
22 years$7,109$5,616$4,394$3,408$2,624$1,929
23 years$6,728$5,252$4,057$3,104$2,356$1,702
24 years$6,379$4,921$3,752$2,831$2,117$1,503
25 years$6,059$4,618$3,475$2,585$1,905$1,329
26 years$5,763$4,340$3,223$2,364$1,716$1,176
27 years$5,491$4,085$2,993$2,164$1,547$1,041
28 years$5,238$3,849$2,782$1,982$1,396$923
29 years$5,003$3,631$2,589$1,818$1,261$818
30 years$4,784$3,429$2,411$1,668$1,139$726
31 years$4,579$3,242$2,248$1,532$1,030$644
32 years$4,388$3,067$2,098$1,408$932$572
33 years$4,209$2,905$1,958$1,295$843$508
34 years$4,040$2,753$1,830$1,191$763$451
35 years$3,882$2,611$1,711$1,097$691$401
36 years$3,732$2,479$1,600$1,010$626$356
37 years$3,591$2,354$1,498$931$568$317
38 years$3,458$2,237$1,403$858$515$281
39 years$3,332$2,127$1,314$791$467$250
40 years$3,213$2,024$1,232$730$423$223
41 years$3,100$1,927$1,155$673$384$198
42 years$2,992$1,835$1,084$621$349$176
43 years$2,890$1,748$1,017$573$316$157
44 years$2,792$1,666$954$529$287$139
45 years$2,699$1,589$896$489$261$124
46 years$2,611$1,516$842$452$237$110
47 years$2,526$1,447$791$417$215$98
48 years$2,446$1,381$743$386$195$87
49 years$2,368$1,319$698$356$177$78
50 years$2,294$1,260$657$329$161$69

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $2,350,000, adding $2,356 every year, while hoping to spend $35,353 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: 54/20/26 Blend
62$2,350,000$2,350,000$2,350,000$2,350,000
63$2,592,130$2,467,580$2,431,155$2,713,320
64$2,818,912$2,550,876$2,474,984$2,880,473
65$3,067,641$2,637,069$2,519,095$3,058,510
66$3,340,518$2,726,263$2,563,463$3,251,619
67$3,639,968$2,818,567$2,608,056$3,461,256
68$3,968,661$2,914,093$2,652,842$3,689,026
69$4,329,539$3,012,959$2,697,787$3,936,696
70$4,725,844$3,115,285$2,742,854$4,206,209
71$5,161,144$3,221,198$2,788,004$4,499,705
72$5,639,373$3,330,829$2,833,195$4,819,541
73$6,164,862$3,444,313$2,878,380$5,168,312
74$6,742,386$3,561,792$2,923,513$5,548,875
75$7,377,200$3,683,411$2,968,542$5,964,374
76$8,075,100$3,809,323$3,013,413$6,418,277
77$8,842,465$3,939,685$3,058,068$6,914,396
78$9,686,329$4,074,662$3,102,446$7,456,936
79$10,614,438$4,214,424$3,146,481$8,050,525
80$11,635,327$4,359,147$3,190,104$8,700,259
81$12,758,401$4,509,016$3,233,243$9,411,755
82$13,994,021$4,664,220$3,275,820$10,191,198
83$15,353,603$4,824,959$3,317,752$11,045,402
84$16,849,727$4,991,439$3,358,953$11,981,870
85$18,496,252$5,163,872$3,399,330$13,008,873
86$20,308,450$5,342,482$3,438,788$14,135,518
87$22,303,147$5,527,500$3,477,224$15,371,840
88$24,498,887$5,719,165$3,514,529$16,728,894
89$26,916,097$5,917,728$3,550,589$18,218,860
90$29,577,290$6,123,448$3,585,285$19,855,155
91$32,507,270$6,336,594$3,618,489$21,652,563
92$35,733,372$6,557,447$3,650,068$23,627,374
93$39,285,712$6,786,298$3,679,882$25,797,532
94$43,197,478$7,023,450$3,707,781$28,182,811
95$47,505,239$7,269,218$3,733,611$30,804,998
96$52,249,294$7,523,929$3,757,207$33,688,097
97$57,474,045$7,787,925$3,778,397$36,858,558
98$63,228,424$8,061,560$3,796,999$40,345,523
99$69,566,348$8,345,201$3,812,824$44,181,106
100$76,547,232$8,639,233$3,825,670$48,400,688