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%17.8%
1 years$204,796$202,972$201,192$199,455$197,759$191,505
2 years$101,384$99,496$97,666$95,892$94,171$87,927
3 years$66,918$65,022$63,196$61,439$59,746$53,708
4 years$49,688$47,798$45,991$44,263$42,611$36,825
5 years$39,353$37,474$35,691$33,998$32,392$26,874
6 years$32,465$30,600$28,843$27,189$25,631$20,385
7 years$27,548$25,698$23,969$22,353$20,845$15,871
8 years$23,861$22,028$20,328$18,752$17,293$12,587
9 years$20,995$19,179$17,508$15,972$14,563$10,120
10 years$18,703$16,906$15,264$13,768$12,408$8,222
11 years$16,830$15,050$13,438$11,983$10,672$6,734
12 years$15,270$13,508$11,926$10,510$9,248$5,551
13 years$13,950$12,207$10,655$9,279$8,064$4,599
14 years$12,821$11,096$9,574$8,237$7,069$3,826
15 years$11,842$10,137$8,644$7,346$6,224$3,194
16 years$10,987$9,300$7,837$6,577$5,501$2,673
17 years$10,234$8,565$7,131$5,910$4,878$2,243
18 years$9,564$7,915$6,510$5,326$4,337$1,885
19 years$8,966$7,335$5,959$4,812$3,866$1,587
20 years$8,429$6,816$5,469$4,359$3,453$1,338
21 years$7,943$6,349$5,031$3,956$3,090$1,129
22 years$7,502$5,927$4,637$3,597$2,770$954
23 years$7,100$5,543$4,281$3,275$2,486$806
24 years$6,732$5,193$3,959$2,987$2,235$682
25 years$6,394$4,874$3,667$2,728$2,011$577
26 years$6,082$4,581$3,401$2,495$1,811$489
27 years$5,794$4,311$3,158$2,283$1,633$414
28 years$5,527$4,062$2,936$2,092$1,474$351
29 years$5,279$3,832$2,732$1,918$1,331$297
30 years$5,048$3,619$2,545$1,761$1,202$252
31 years$4,832$3,421$2,373$1,617$1,087$214
32 years$4,631$3,237$2,214$1,486$983$181
33 years$4,441$3,066$2,067$1,367$890$154
34 years$4,264$2,905$1,931$1,257$806$130
35 years$4,096$2,756$1,805$1,157$730$111
36 years$3,939$2,616$1,689$1,066$661$94
37 years$3,790$2,484$1,581$982$599$80
38 years$3,650$2,361$1,480$905$543$68
39 years$3,517$2,245$1,387$835$493$57
40 years$3,391$2,136$1,300$770$447$49
41 years$3,271$2,033$1,219$710$405$41
42 years$3,157$1,936$1,143$656$368$35
43 years$3,049$1,845$1,073$605$334$30
44 years$2,947$1,759$1,007$559$303$25
45 years$2,849$1,677$946$516$275$21
46 years$2,755$1,600$888$477$250$18
47 years$2,666$1,527$834$440$227$15
48 years$2,581$1,457$784$407$206$13
49 years$2,499$1,392$737$376$187$11
50 years$2,421$1,330$693$348$170$9

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 $4,895 every year, while hoping to spend $42,231 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: 78/5/17 Blend
62$2,480,000$2,480,000$2,480,000$2,480,000
63$2,738,009$2,606,569$2,568,129$2,940,962
64$2,972,353$2,689,358$2,609,228$3,158,341
65$3,229,184$2,774,787$2,650,288$3,390,922
66$3,510,752$2,862,943$2,691,264$3,644,898
67$3,819,534$2,953,912$2,732,107$3,922,394
68$4,158,258$3,047,786$2,772,764$4,225,751
69$4,529,929$3,144,657$2,813,181$4,557,547
70$4,937,859$3,244,622$2,853,299$4,920,624
71$5,385,692$3,347,780$2,893,056$5,318,108
72$5,877,446$3,454,234$2,932,387$5,753,448
73$6,417,544$3,564,091$2,971,221$6,230,439
74$7,010,862$3,677,459$3,009,485$6,753,264
75$7,662,768$3,794,452$3,047,100$7,326,531
76$8,379,177$3,915,188$3,083,985$7,955,316
77$9,166,607$4,039,785$3,120,052$8,645,211
78$10,032,236$4,168,370$3,155,209$9,402,378
79$10,983,974$4,301,070$3,189,359$10,233,605
80$12,030,536$4,438,019$3,222,399$11,146,374
81$13,181,522$4,579,354$3,254,221$12,148,923
82$14,447,511$4,725,216$3,284,711$13,250,334
83$15,840,157$4,875,751$3,313,749$14,460,611
84$17,372,301$5,031,111$3,341,208$15,790,778
85$19,058,092$5,191,452$3,366,955$17,252,981
86$20,913,120$5,356,935$3,390,850$18,860,604
87$22,954,559$5,527,727$3,412,745$20,628,395
88$25,201,337$5,703,998$3,432,484$22,572,602
89$27,674,307$5,885,928$3,449,906$24,711,133
90$30,396,447$6,073,698$3,464,838$27,063,717
91$33,393,074$6,267,500$3,477,100$29,652,095
92$36,692,088$6,467,527$3,486,503$32,500,226
93$40,324,228$6,673,983$3,492,848$35,634,507
94$44,323,367$6,887,076$3,495,926$39,084,030
95$48,726,829$7,107,021$3,495,519$42,880,849
96$53,575,743$7,334,042$3,491,395$47,060,288
97$58,915,427$7,568,369$3,483,316$51,661,273
98$64,795,820$7,810,239$3,471,026$56,726,696
99$71,271,950$8,059,897$3,454,262$62,303,824
100$78,404,455$8,317,598$3,432,746$68,444,744