Can I retire at age 63 with 2,480,000?

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 $2,480,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.4%
1 years$204,796$202,972$201,192$199,455$197,759$191,046
2 years$101,384$99,496$97,666$95,892$94,171$87,475
3 years$66,918$65,022$63,196$61,439$59,746$53,278
4 years$49,688$47,798$45,991$44,263$42,611$36,420
5 years$39,353$37,474$35,691$33,998$32,392$26,494
6 years$32,465$30,600$28,843$27,189$25,631$20,031
7 years$27,548$25,698$23,969$22,353$20,845$15,542
8 years$23,861$22,028$20,328$18,752$17,293$12,282
9 years$20,995$19,179$17,508$15,972$14,563$9,839
10 years$18,703$16,906$15,264$13,768$12,408$7,964
11 years$16,830$15,050$13,438$11,983$10,672$6,497
12 years$15,270$13,508$11,926$10,510$9,248$5,335
13 years$13,950$12,207$10,655$9,279$8,064$4,402
14 years$12,821$11,096$9,574$8,237$7,069$3,647
15 years$11,842$10,137$8,644$7,346$6,224$3,031
16 years$10,987$9,300$7,837$6,577$5,501$2,526
17 years$10,234$8,565$7,131$5,910$4,878$2,110
18 years$9,564$7,915$6,510$5,326$4,337$1,766
19 years$8,966$7,335$5,959$4,812$3,866$1,480
20 years$8,429$6,816$5,469$4,359$3,453$1,242
21 years$7,943$6,349$5,031$3,956$3,090$1,043
22 years$7,502$5,927$4,637$3,597$2,770$877
23 years$7,100$5,543$4,281$3,275$2,486$738
24 years$6,732$5,193$3,959$2,987$2,235$621
25 years$6,394$4,874$3,667$2,728$2,011$523
26 years$6,082$4,581$3,401$2,495$1,811$441
27 years$5,794$4,311$3,158$2,283$1,633$372
28 years$5,527$4,062$2,936$2,092$1,474$313
29 years$5,279$3,832$2,732$1,918$1,331$264
30 years$5,048$3,619$2,545$1,761$1,202$223
31 years$4,832$3,421$2,373$1,617$1,087$188
32 years$4,631$3,237$2,214$1,486$983$159
33 years$4,441$3,066$2,067$1,367$890$134
34 years$4,264$2,905$1,931$1,257$806$113
35 years$4,096$2,756$1,805$1,157$730$95
36 years$3,939$2,616$1,689$1,066$661$81
37 years$3,790$2,484$1,581$982$599$68
38 years$3,650$2,361$1,480$905$543$57
39 years$3,517$2,245$1,387$835$493$49
40 years$3,391$2,136$1,300$770$447$41
41 years$3,271$2,033$1,219$710$405$35
42 years$3,157$1,936$1,143$656$368$29
43 years$3,049$1,845$1,073$605$334$25
44 years$2,947$1,759$1,007$559$303$21
45 years$2,849$1,677$946$516$275$18
46 years$2,755$1,600$888$477$250$15
47 years$2,666$1,527$834$440$227$13
48 years$2,581$1,457$784$407$206$11
49 years$2,499$1,392$737$376$187$9
50 years$2,421$1,330$693$348$170$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $2,480,000, adding $2,697 every year, while hoping to spend $20,086 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: 58/21/21 Blend
62$2,480,000$2,480,000$2,480,000$2,480,000
63$2,735,742$2,604,302$2,565,862$2,878,948
64$2,993,416$2,710,541$2,630,447$3,082,911
65$3,276,700$2,821,313$2,696,522$3,302,769
66$3,588,185$2,936,819$2,764,117$3,542,025
67$3,930,724$3,057,268$2,833,260$3,802,558
68$4,307,464$3,182,880$2,903,980$4,086,431
69$4,721,869$3,313,885$2,976,307$4,395,917
70$5,177,758$3,450,523$3,050,271$4,733,516
71$5,679,336$3,593,045$3,125,902$5,101,977
72$6,231,238$3,741,715$3,203,230$5,504,329
73$6,838,572$3,896,806$3,282,286$5,943,901
74$7,506,964$4,058,608$3,363,100$6,424,361
75$8,242,614$4,227,419$3,445,704$6,949,745
76$9,052,354$4,403,555$3,530,127$7,524,494
77$9,943,710$4,587,346$3,616,403$8,153,500
78$10,924,977$4,779,134$3,704,561$8,842,146
79$12,005,294$4,979,281$3,794,633$9,596,361
80$13,194,731$5,188,163$3,886,650$10,422,669
81$14,504,386$5,406,175$3,980,645$11,328,258
82$15,946,484$5,633,728$4,076,648$12,321,041
83$17,534,500$5,871,256$4,174,690$13,409,730
84$19,283,280$6,119,208$4,274,803$14,603,923
85$21,209,184$6,378,059$4,377,018$15,914,186
86$23,330,239$6,648,302$4,481,366$17,352,157
87$25,666,309$6,930,455$4,587,878$18,930,654
88$28,239,285$7,225,059$4,696,584$20,663,794
89$31,073,287$7,532,682$4,807,515$22,567,125
90$34,194,896$7,853,917$4,920,701$24,657,774
91$37,633,401$8,189,385$5,036,170$26,954,606
92$41,421,078$8,539,735$5,153,952$29,478,398
93$45,593,494$8,905,648$5,274,075$32,252,040
94$50,189,842$9,287,836$5,396,568$35,300,746
95$55,253,310$9,687,045$5,521,457$38,652,290
96$60,831,492$10,104,053$5,648,770$42,337,269
97$66,976,831$10,539,680$5,778,531$46,389,390
98$73,747,122$10,994,778$5,910,766$50,845,785
99$81,206,050$11,470,244$6,045,498$55,747,363
100$89,423,796$11,967,014$6,182,751$61,139,192