Can I retire at age 63 with 7,000,000?

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 $7,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$578,053$572,904$567,881$562,978$558,190$548,266
2 years$286,165$280,836$275,670$270,662$265,805$255,840
3 years$188,882$183,529$178,377$173,416$168,637$158,943
4 years$140,249$134,913$129,813$124,936$120,274$110,924
5 years$111,078$105,774$100,740$95,963$91,430$82,452
6 years$91,636$86,372$81,413$76,743$72,346$63,749
7 years$77,755$72,535$67,655$63,094$58,836$50,623
8 years$67,349$62,176$57,376$52,928$48,810$40,980
9 years$59,259$54,135$49,418$45,083$41,105$33,652
10 years$52,792$47,718$43,084$38,862$35,024$27,941
11 years$47,503$42,480$37,930$33,822$30,122$23,402
12 years$43,099$38,128$33,662$29,666$26,103$19,737
13 years$39,376$34,457$30,075$26,191$22,762$16,741
14 years$36,187$31,320$27,023$23,249$19,953$14,265
15 years$33,426$28,611$24,398$20,734$17,568$12,203
16 years$31,013$26,250$22,120$18,565$15,527$10,472
17 years$28,885$24,176$20,128$16,681$13,767$9,011
18 years$26,996$22,339$18,375$15,033$12,241$7,772
19 years$25,308$20,704$16,821$13,583$10,911$6,717
20 years$23,791$19,239$15,438$12,302$9,746$5,814
21 years$22,420$17,921$14,200$11,165$8,721$5,040
22 years$21,175$16,728$13,087$10,152$7,817$4,374
23 years$20,040$15,645$12,084$9,245$7,017$3,800
24 years$19,001$14,659$11,175$8,432$6,307$3,305
25 years$18,047$13,757$10,351$7,701$5,676$2,876
26 years$17,168$12,929$9,600$7,041$5,112$2,505
27 years$16,355$12,168$8,914$6,445$4,609$2,183
28 years$15,601$11,466$8,287$5,905$4,159$1,903
29 years$14,901$10,816$7,712$5,415$3,756$1,660
30 years$14,249$10,215$7,183$4,970$3,393$1,448
31 years$13,640$9,657$6,697$4,564$3,068$1,264
32 years$13,070$9,137$6,248$4,195$2,775$1,104
33 years$12,536$8,653$5,834$3,857$2,512$964
34 years$12,034$8,201$5,451$3,549$2,274$842
35 years$11,562$7,779$5,096$3,267$2,060$736
36 years$11,118$7,383$4,767$3,009$1,866$643
37 years$10,698$7,012$4,462$2,772$1,691$562
38 years$10,301$6,664$4,179$2,555$1,533$491
39 years$9,926$6,337$3,915$2,356$1,390$429
40 years$9,570$6,029$3,669$2,173$1,261$375
41 years$9,233$5,739$3,441$2,005$1,144$328
42 years$8,912$5,466$3,228$1,850$1,038$287
43 years$8,607$5,208$3,029$1,708$942$251
44 years$8,317$4,964$2,843$1,577$855$220
45 years$8,041$4,734$2,669$1,457$776$192
46 years$7,777$4,516$2,507$1,345$705$168
47 years$7,525$4,309$2,355$1,243$640$147
48 years$7,285$4,114$2,213$1,149$581$128
49 years$7,055$3,928$2,080$1,062$528$112
50 years$6,834$3,753$1,956$981$480$98

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $7,000,000, adding $5,893 every year, while hoping to spend $32,034 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: 70/13/17 Blend
62$7,000,000$7,000,000$7,000,000$7,000,000
63$7,720,079$7,349,079$7,240,579$8,229,089
64$8,473,443$7,675,100$7,449,054$8,894,673
65$9,302,576$8,016,022$7,663,440$9,618,515
66$10,215,174$8,372,542$7,883,900$10,409,937
67$11,219,714$8,745,389$8,110,603$11,275,611
68$12,325,540$9,135,327$8,343,723$12,222,877
69$13,542,943$9,543,157$8,583,436$13,259,816
70$14,883,269$9,969,717$8,829,927$14,395,324
71$16,359,014$10,415,885$9,083,381$15,639,197
72$17,983,951$10,882,581$9,343,992$17,002,216
73$19,773,256$11,370,770$9,611,958$18,496,256
74$21,743,651$11,881,460$9,887,481$20,134,387
75$23,913,562$12,415,710$10,170,770$21,931,007
76$26,303,294$12,974,628$10,462,039$23,901,966
77$28,935,220$13,559,376$10,761,508$26,064,722
78$31,833,997$14,171,169$11,069,403$28,438,498
79$35,026,791$14,811,283$11,385,954$31,044,466
80$38,543,540$15,481,053$11,711,400$33,905,945
81$42,417,235$16,181,878$12,045,986$37,048,617
82$46,684,227$16,915,224$12,389,961$40,500,768
83$51,384,576$17,682,628$12,743,582$44,293,554
84$56,562,426$18,485,699$13,107,115$48,461,294
85$62,266,420$19,326,125$13,480,830$53,041,790
86$68,550,161$20,205,672$13,865,004$58,076,682
87$75,472,721$21,126,193$14,259,925$63,611,839
88$83,099,190$22,089,628$14,665,884$69,697,789
89$91,501,299$23,098,011$15,083,183$76,390,195
90$100,758,092$24,153,474$15,512,130$83,750,377
91$110,956,673$25,258,250$15,953,042$91,845,887
92$122,193,029$26,414,680$16,406,244$100,751,147
93$134,572,934$27,625,216$16,872,070$110,548,144
94$148,212,951$28,892,429$17,350,862$121,327,204
95$163,241,528$30,219,013$17,842,971$133,187,843
96$179,800,211$31,607,792$18,348,758$146,239,697
97$198,044,983$33,061,724$18,868,592$160,603,561
98$218,147,734$34,583,912$19,402,853$176,412,520
99$240,297,884$36,177,605$19,951,929$193,813,205
100$264,704,170$37,846,209$20,516,221$212,967,170