Can I retire at age 63 with 2,930,000?

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 $2,930,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$241,957$239,801$237,699$235,646$233,642$231,782
2 years$119,781$117,550$115,388$113,292$111,258$109,382
3 years$79,060$76,820$74,664$72,587$70,587$68,754
4 years$58,704$56,471$54,336$52,295$50,343$48,568
5 years$46,494$44,274$42,167$40,167$38,270$36,557
6 years$38,356$36,153$34,077$32,122$30,282$28,634
7 years$32,546$30,361$28,318$26,409$24,627$23,044
8 years$28,190$26,025$24,016$22,154$20,431$18,913
9 years$24,804$22,660$20,685$18,870$17,206$15,753
10 years$22,097$19,973$18,034$16,267$14,660$13,272
11 years$19,884$17,781$15,877$14,157$12,608$11,283
12 years$18,040$15,959$14,090$12,417$10,926$9,663
13 years$16,482$14,423$12,589$10,963$9,528$8,325
14 years$15,147$13,110$11,311$9,731$8,352$7,208
15 years$13,991$11,976$10,212$8,679$7,354$6,268
16 years$12,981$10,988$9,259$7,771$6,499$5,469
17 years$12,091$10,119$8,425$6,982$5,763$4,786
18 years$11,300$9,351$7,691$6,292$5,124$4,200
19 years$10,593$8,666$7,041$5,686$4,567$3,693
20 years$9,958$8,053$6,462$5,149$4,079$3,254
21 years$9,384$7,501$5,944$4,673$3,651$2,872
22 years$8,863$7,002$5,478$4,249$3,272$2,539
23 years$8,388$6,549$5,058$3,870$2,937$2,247
24 years$7,953$6,136$4,678$3,530$2,640$1,991
25 years$7,554$5,758$4,332$3,223$2,376$1,765
26 years$7,186$5,412$4,018$2,947$2,140$1,567
27 years$6,846$5,093$3,731$2,698$1,929$1,392
28 years$6,530$4,799$3,469$2,472$1,741$1,237
29 years$6,237$4,527$3,228$2,267$1,572$1,100
30 years$5,964$4,276$3,007$2,080$1,420$979
31 years$5,709$4,042$2,803$1,910$1,284$872
32 years$5,471$3,824$2,615$1,756$1,162$776
33 years$5,247$3,622$2,442$1,615$1,051$692
34 years$5,037$3,433$2,282$1,486$952$617
35 years$4,840$3,256$2,133$1,368$862$550
36 years$4,654$3,090$1,995$1,259$781$490
37 years$4,478$2,935$1,868$1,160$708$437
38 years$4,312$2,789$1,749$1,070$642$390
39 years$4,155$2,652$1,639$986$582$348
40 years$4,006$2,524$1,536$910$528$311
41 years$3,865$2,402$1,440$839$479$277
42 years$3,730$2,288$1,351$775$435$248
43 years$3,603$2,180$1,268$715$394$221
44 years$3,481$2,078$1,190$660$358$197
45 years$3,366$1,981$1,117$610$325$176
46 years$3,255$1,890$1,049$563$295$157
47 years$3,150$1,804$986$520$268$141
48 years$3,049$1,722$926$481$243$126
49 years$2,953$1,644$871$444$221$112
50 years$2,861$1,571$819$411$201$100

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $2,930,000, adding $3,888 every year, while hoping to spend $31,976 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: 58/23/19 Blend
62$2,930,000$2,930,000$2,930,000$2,930,000
63$3,232,870$3,077,580$3,032,165$3,403,953
64$3,528,601$3,194,360$3,099,721$3,637,333
65$3,853,424$3,315,789$3,168,468$3,887,826
66$4,210,274$3,442,064$3,238,412$4,160,196
67$4,602,383$3,573,385$3,309,559$4,456,559
68$5,033,310$3,709,965$3,381,913$4,779,241
69$5,506,978$3,852,024$3,455,478$5,130,804
70$6,027,710$3,999,793$3,530,256$5,514,067
71$6,600,265$4,153,511$3,606,248$5,932,130
72$7,229,888$4,313,430$3,683,455$6,388,407
73$7,922,361$4,479,812$3,761,874$6,886,655
74$8,684,048$4,652,930$3,841,503$7,431,008
75$9,521,966$4,833,068$3,922,339$8,026,020
76$10,443,845$5,020,527$4,004,375$8,676,700
77$11,458,200$5,215,616$4,087,605$9,388,567
78$12,574,416$5,418,660$4,172,019$10,167,695
79$13,802,831$5,629,999$4,257,606$11,020,772
80$15,154,838$5,849,987$4,344,354$11,955,163
81$16,642,989$6,078,994$4,432,248$12,978,977
82$18,281,116$6,317,407$4,521,271$14,101,144
83$20,084,459$6,565,630$4,611,403$15,331,500
84$22,069,812$6,824,083$4,702,622$16,680,876
85$24,255,677$7,093,207$4,794,904$18,161,199
86$26,662,445$7,373,464$4,888,223$19,785,609
87$29,312,583$7,665,332$4,982,547$21,568,575
88$32,230,848$7,969,315$5,077,844$23,526,036
89$35,444,520$8,285,937$5,174,077$25,675,549
90$38,983,660$8,615,747$5,271,208$28,036,450
91$42,881,392$8,959,317$5,369,191$30,630,042
92$47,174,216$9,317,246$5,467,982$33,479,790
93$51,902,355$9,690,159$5,567,527$36,611,544
94$57,110,129$10,078,711$5,667,774$40,053,778
95$62,846,379$10,483,584$5,768,661$43,837,862
96$69,164,923$10,905,494$5,870,124$47,998,356
97$76,125,067$11,345,185$5,972,096$52,573,332
98$83,792,164$11,803,439$6,074,501$57,604,735
99$92,238,229$12,281,072$6,177,261$63,138,774
100$101,542,619$12,778,935$6,280,290$69,226,363