Can I retire at age 63 with 2,420,000?

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 $2,420,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.1%
1 years$199,841$198,061$196,325$194,629$192,974$185,906
2 years$98,931$97,089$95,303$93,572$91,892$84,850
3 years$65,299$63,449$61,667$59,952$58,300$51,505
4 years$48,486$46,641$44,878$43,192$41,580$35,084
5 years$38,401$36,567$34,827$33,176$31,609$25,428
6 years$31,680$29,860$28,146$26,531$25,011$19,151
7 years$26,881$25,076$23,389$21,813$20,341$14,800
8 years$23,283$21,495$19,836$18,298$16,874$11,648
9 years$20,487$18,715$17,085$15,586$14,211$9,291
10 years$18,251$16,497$14,895$13,435$12,108$7,487
11 years$16,423$14,686$13,113$11,693$10,413$6,081
12 years$14,900$13,181$11,638$10,256$9,024$4,969
13 years$13,613$11,912$10,397$9,055$7,869$4,081
14 years$12,510$10,828$9,342$8,038$6,898$3,364
15 years$11,556$9,891$8,435$7,168$6,074$2,782
16 years$10,722$9,075$7,647$6,418$5,368$2,307
17 years$9,986$8,358$6,959$5,767$4,760$1,917
18 years$9,333$7,723$6,352$5,197$4,232$1,596
19 years$8,749$7,158$5,815$4,696$3,772$1,330
20 years$8,225$6,651$5,337$4,253$3,369$1,110
21 years$7,751$6,195$4,909$3,860$3,015$928
22 years$7,320$5,783$4,524$3,510$2,703$776
23 years$6,928$5,409$4,177$3,196$2,426$649
24 years$6,569$5,068$3,863$2,915$2,181$543
25 years$6,239$4,756$3,578$2,662$1,962$455
26 years$5,935$4,470$3,319$2,434$1,767$381
27 years$5,654$4,207$3,082$2,228$1,594$320
28 years$5,394$3,964$2,865$2,041$1,438$268
29 years$5,152$3,739$2,666$1,872$1,298$225
30 years$4,926$3,531$2,483$1,718$1,173$188
31 years$4,716$3,338$2,315$1,578$1,061$158
32 years$4,519$3,159$2,160$1,450$959$133
33 years$4,334$2,991$2,017$1,334$868$111
34 years$4,160$2,835$1,884$1,227$786$93
35 years$3,997$2,689$1,762$1,129$712$78
36 years$3,844$2,552$1,648$1,040$645$66
37 years$3,698$2,424$1,543$958$585$55
38 years$3,561$2,304$1,445$883$530$46
39 years$3,432$2,191$1,353$815$481$39
40 years$3,309$2,084$1,269$751$436$33
41 years$3,192$1,984$1,190$693$396$27
42 years$3,081$1,890$1,116$640$359$23
43 years$2,976$1,800$1,047$591$326$19
44 years$2,875$1,716$983$545$296$16
45 years$2,780$1,636$923$504$268$14
46 years$2,689$1,561$867$465$244$11
47 years$2,602$1,490$814$430$221$10
48 years$2,518$1,422$765$397$201$8
49 years$2,439$1,358$719$367$183$7
50 years$2,363$1,297$676$339$166$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $2,420,000, adding $2,625 every year, while hoping to spend $57,135 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: 35/40/25 Blend
62$2,420,000$2,420,000$2,420,000$2,420,000
63$2,669,548$2,541,288$2,503,778$2,742,710
64$2,881,050$2,605,020$2,526,863$2,861,036
65$3,112,211$2,669,959$2,548,807$2,983,236
66$3,364,976$2,736,106$2,569,511$3,113,957
67$3,641,484$2,803,456$2,588,870$3,253,998
68$3,944,095$2,872,005$2,606,777$3,404,239
69$4,275,405$2,941,745$2,623,116$3,565,648
70$4,638,271$3,012,666$2,637,766$3,739,291
71$5,035,844$3,084,756$2,650,600$3,926,347
72$5,471,590$3,157,999$2,661,485$4,128,111
73$5,949,328$3,232,376$2,670,280$4,346,012
74$6,473,263$3,307,867$2,676,838$4,581,625
75$7,048,029$3,384,445$2,681,005$4,836,687
76$7,678,727$3,462,082$2,682,618$5,113,113
77$8,370,979$3,540,746$2,681,507$5,413,011
78$9,130,974$3,620,397$2,677,493$5,738,708
79$9,965,532$3,700,996$2,670,388$6,092,769
80$10,882,166$3,782,495$2,659,996$6,478,021
81$11,889,152$3,864,842$2,646,111$6,897,580
82$12,995,606$3,947,979$2,628,516$7,354,885
83$14,211,571$4,031,844$2,606,985$7,853,722
84$15,548,113$4,116,366$2,581,280$8,398,270
85$17,017,422$4,201,469$2,551,154$8,993,135
86$18,632,927$4,287,069$2,516,346$9,643,393
87$20,409,425$4,373,075$2,476,583$10,354,644
88$22,363,218$4,459,388$2,431,581$11,133,060
89$24,512,267$4,545,898$2,381,039$11,985,447
90$26,876,361$4,632,490$2,324,647$12,919,306
91$29,477,304$4,719,036$2,262,076$13,942,911
92$32,339,119$4,805,398$2,192,986$15,065,381
93$35,488,275$4,891,429$2,117,017$16,296,771
94$38,953,939$4,976,969$2,033,796$17,648,167
95$42,768,244$5,061,844$1,942,932$19,131,791
96$46,966,600$5,145,869$1,844,016$20,761,115
97$51,588,023$5,228,846$1,736,620$22,550,995
98$56,675,501$5,310,560$1,620,297$24,517,807
99$62,276,406$5,390,781$1,494,580$26,679,605
100$68,442,933$5,469,263$1,358,982$29,056,292