Can I retire at age 63 with 6,200,000?

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 $6,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.2%
1 years$511,990$507,430$502,980$498,637$494,397$481,858
2 years$253,460$248,740$244,165$239,729$235,427$222,876
3 years$167,295$162,554$157,991$153,597$149,365$137,194
4 years$124,221$119,495$114,977$110,658$106,528$94,831
5 years$98,383$93,685$89,227$84,996$80,981$69,790
6 years$81,164$76,501$72,109$67,972$64,077$53,404
7 years$68,869$64,245$59,923$55,883$52,112$41,957
8 years$59,652$55,070$50,819$46,879$43,232$33,590
9 years$52,487$47,949$43,770$39,931$36,408$27,271
10 years$46,758$42,264$38,160$34,421$31,021$22,379
11 years$42,074$37,625$33,596$29,956$26,679$18,519
12 years$38,174$33,771$29,815$26,276$23,120$15,427
13 years$34,876$30,519$26,638$23,198$20,161$12,920
14 years$32,052$27,741$23,934$20,592$17,673$10,868
15 years$29,606$25,342$21,609$18,365$15,561$9,175
16 years$27,468$23,250$19,592$16,443$13,752$7,769
17 years$25,584$21,413$17,828$14,774$12,194$6,594
18 years$23,911$19,786$16,275$13,315$10,842$5,609
19 years$22,416$18,338$14,899$12,031$9,664$4,779
20 years$21,072$17,040$13,673$10,896$8,632$4,078
21 years$19,857$15,872$12,577$9,889$7,725$3,484
22 years$18,755$14,816$11,591$8,991$6,924$2,980
23 years$17,750$13,857$10,703$8,189$6,215$2,551
24 years$16,830$12,984$9,898$7,469$5,587$2,185
25 years$15,985$12,184$9,168$6,821$5,027$1,873
26 years$15,206$11,451$8,503$6,237$4,528$1,607
27 years$14,486$10,777$7,895$5,708$4,083$1,379
28 years$13,818$10,155$7,340$5,230$3,684$1,184
29 years$13,198$9,580$6,830$4,796$3,326$1,016
30 years$12,621$9,048$6,362$4,402$3,006$873
31 years$12,081$8,553$5,931$4,043$2,717$750
32 years$11,576$8,093$5,534$3,715$2,458$645
33 years$11,103$7,664$5,167$3,416$2,224$554
34 years$10,659$7,264$4,828$3,143$2,014$477
35 years$10,241$6,890$4,514$2,894$1,824$410
36 years$9,847$6,539$4,222$2,665$1,653$352
37 years$9,475$6,211$3,952$2,455$1,498$303
38 years$9,124$5,902$3,701$2,263$1,358$261
39 years$8,791$5,613$3,467$2,087$1,232$224
40 years$8,476$5,340$3,250$1,925$1,117$193
41 years$8,177$5,083$3,047$1,776$1,013$166
42 years$7,894$4,841$2,859$1,639$920$143
43 years$7,624$4,612$2,682$1,513$835$123
44 years$7,366$4,397$2,518$1,397$758$106
45 years$7,122$4,193$2,364$1,290$688$91
46 years$6,888$4,000$2,221$1,192$624$78
47 years$6,665$3,817$2,086$1,101$567$67
48 years$6,452$3,644$1,960$1,017$515$58
49 years$6,248$3,480$1,843$940$468$50
50 years$6,053$3,324$1,732$869$425$43

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $6,200,000, adding $2,792 every year, while hoping to spend $40,907 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: 43/29/28 Blend
62$6,200,000$6,200,000$6,200,000$6,200,000
63$6,835,280$6,506,680$6,410,580$7,073,262
64$7,488,954$6,781,983$6,581,810$7,519,442
65$8,207,931$7,069,404$6,757,405$7,998,480
66$8,998,830$7,369,495$6,937,468$8,516,748
67$9,868,942$7,682,831$7,122,104$9,077,908
68$10,826,301$8,010,017$7,311,421$9,685,981
69$11,879,758$8,351,682$7,505,528$10,345,385
70$13,039,067$8,708,488$7,704,537$11,060,976
71$14,314,974$9,081,125$7,908,561$11,838,089
72$15,719,319$9,470,319$8,117,716$12,682,590
73$17,265,151$9,876,826$8,332,121$13,600,924
74$18,966,846$10,301,440$8,551,896$14,600,181
75$20,840,243$10,744,990$8,777,164$15,688,156
76$22,902,799$11,208,345$9,008,050$16,873,420
77$25,173,747$11,692,416$9,244,681$18,165,401
78$27,674,279$12,198,154$9,487,188$19,574,468
79$30,427,748$12,726,557$9,735,702$21,112,031
80$33,459,889$13,278,668$9,990,358$22,790,639
81$36,799,056$13,855,581$10,251,294$24,624,100
82$40,476,495$14,458,440$10,518,647$26,627,611
83$44,526,637$15,088,443$10,792,561$28,817,891
84$48,987,422$15,746,845$11,073,180$31,213,343
85$53,900,657$16,434,959$11,360,650$33,834,220
86$59,312,413$17,154,161$11,655,121$36,702,815
87$65,273,456$17,905,891$11,956,744$39,843,665
88$71,839,727$18,691,658$12,265,673$43,283,783
89$79,072,871$19,513,042$12,582,066$47,052,906
90$87,040,820$20,371,696$12,906,080$51,183,773
91$95,818,428$21,269,354$13,237,879$55,712,430
92$105,488,185$22,207,829$13,577,625$60,678,564
93$116,140,989$23,189,023$13,925,485$66,125,875
94$127,877,010$24,214,925$14,281,628$72,102,484
95$140,806,628$25,287,619$14,646,226$78,661,379
96$155,051,482$26,409,290$15,019,452$85,860,915
97$170,745,612$27,582,224$15,401,482$93,765,354
98$188,036,727$28,808,816$15,792,495$102,445,473
99$207,087,601$30,091,576$16,192,672$111,979,217
100$228,077,605$31,433,132$16,602,195$122,452,436