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 $2,717 every year, while hoping to spend $24,807 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: 43/33/24 Blend
62$2,480,000$2,480,000$2,480,000$2,480,000
63$2,735,763$2,604,323$2,565,883$2,834,158
64$2,988,416$2,705,540$2,625,445$3,005,680
65$3,266,008$2,810,886$2,686,172$3,188,806
66$3,571,058$2,920,535$2,748,075$3,386,727
67$3,906,338$3,034,674$2,811,167$3,600,824
68$4,274,903$3,153,492$2,875,461$3,832,613
69$4,680,122$3,277,191$2,940,967$4,083,763
70$5,125,701$3,405,981$3,007,697$4,356,106
71$5,615,729$3,540,080$3,075,660$4,651,658
72$6,154,706$3,679,716$3,144,868$4,972,632
73$6,747,593$3,825,130$3,215,328$5,321,465
74$7,399,855$3,976,569$3,287,049$5,700,834
75$8,117,515$4,134,295$3,360,040$6,113,686
76$8,907,207$4,298,581$3,434,306$6,563,261
77$9,776,240$4,469,710$3,509,854$7,053,122
78$10,732,671$4,647,980$3,586,688$7,587,190
79$11,785,374$4,833,701$3,664,813$8,169,781
80$12,944,129$5,027,200$3,744,231$8,805,641
81$14,219,712$5,228,814$3,824,944$9,499,994
82$15,623,995$5,438,898$3,906,953$10,258,590
83$17,170,062$5,657,824$3,990,255$11,087,756
84$18,872,329$5,885,978$4,074,849$11,994,457
85$20,746,681$6,123,766$4,160,732$12,986,360
86$22,810,623$6,371,610$4,247,896$14,071,905
87$25,083,442$6,629,954$4,336,336$15,260,382
88$27,586,391$6,899,261$4,426,042$16,562,022
89$30,342,891$7,180,013$4,517,002$17,988,086
90$33,378,749$7,472,716$4,609,205$19,550,976
91$36,722,403$7,777,900$4,702,634$21,264,346
92$40,405,187$8,096,117$4,797,272$23,143,232
93$44,461,635$8,427,945$4,893,099$25,204,193
94$48,929,797$8,773,990$4,990,093$27,465,464
95$53,851,603$9,134,882$5,088,228$29,947,126
96$59,273,258$9,511,283$5,187,476$32,671,296
97$65,245,680$9,903,885$5,287,805$35,662,333
98$71,824,974$10,313,411$5,389,182$38,947,066
99$79,072,970$10,740,617$5,491,568$42,555,045
100$87,057,800$11,186,294$5,594,923$46,518,821