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

Use the below retirement simulation to view the chances of a successful retirement.
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%12.1%
1 years$578,053$572,904$567,881$562,978$558,190$553,282
2 years$286,165$280,836$275,670$270,662$265,805$260,859
3 years$188,882$183,529$178,377$173,416$168,637$163,807
4 years$140,249$134,913$129,813$124,936$120,274$115,596
5 years$111,078$105,774$100,740$95,963$91,430$86,919
6 years$91,636$86,372$81,413$76,743$72,346$68,007
7 years$77,755$72,535$67,655$63,094$58,836$54,671
8 years$67,349$62,176$57,376$52,928$48,810$44,820
9 years$59,259$54,135$49,418$45,083$41,105$37,287
10 years$52,792$47,718$43,084$38,862$35,024$31,376
11 years$47,503$42,480$37,930$33,822$30,122$26,642
12 years$43,099$38,128$33,662$29,666$26,103$22,787
13 years$39,376$34,457$30,075$26,191$22,762$19,607
14 years$36,187$31,320$27,023$23,249$19,953$16,955
15 years$33,426$28,611$24,398$20,734$17,568$14,722
16 years$31,013$26,250$22,120$18,565$15,527$12,829
17 years$28,885$24,176$20,128$16,681$13,767$11,212
18 years$26,996$22,339$18,375$15,033$12,241$9,824
19 years$25,308$20,704$16,821$13,583$10,911$8,627
20 years$23,791$19,239$15,438$12,302$9,746$7,590
21 years$22,420$17,921$14,200$11,165$8,721$6,689
22 years$21,175$16,728$13,087$10,152$7,817$5,904
23 years$20,040$15,645$12,084$9,245$7,017$5,217
24 years$19,001$14,659$11,175$8,432$6,307$4,615
25 years$18,047$13,757$10,351$7,701$5,676$4,086
26 years$17,168$12,929$9,600$7,041$5,112$3,621
27 years$16,355$12,168$8,914$6,445$4,609$3,212
28 years$15,601$11,466$8,287$5,905$4,159$2,850
29 years$14,901$10,816$7,712$5,415$3,756$2,531
30 years$14,249$10,215$7,183$4,970$3,393$2,249
31 years$13,640$9,657$6,697$4,564$3,068$1,999
32 years$13,070$9,137$6,248$4,195$2,775$1,777
33 years$12,536$8,653$5,834$3,857$2,512$1,581
34 years$12,034$8,201$5,451$3,549$2,274$1,407
35 years$11,562$7,779$5,096$3,267$2,060$1,252
36 years$11,118$7,383$4,767$3,009$1,866$1,115
37 years$10,698$7,012$4,462$2,772$1,691$992
38 years$10,301$6,664$4,179$2,555$1,533$884
39 years$9,926$6,337$3,915$2,356$1,390$787
40 years$9,570$6,029$3,669$2,173$1,261$702
41 years$9,233$5,739$3,441$2,005$1,144$625
42 years$8,912$5,466$3,228$1,850$1,038$557
43 years$8,607$5,208$3,029$1,708$942$496
44 years$8,317$4,964$2,843$1,577$855$443
45 years$8,041$4,734$2,669$1,457$776$394
46 years$7,777$4,516$2,507$1,345$705$352
47 years$7,525$4,309$2,355$1,243$640$314
48 years$7,285$4,114$2,213$1,149$581$280
49 years$7,055$3,928$2,080$1,062$528$249
50 years$6,834$3,753$1,956$981$480$222

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 $3,896 every year, while hoping to spend $33,915 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: 67/17/16 Blend
62$7,000,000$7,000,000$7,000,000$7,000,000
63$7,718,019$7,347,019$7,238,519$8,205,348
64$8,469,171$7,670,937$7,444,924$8,855,139
65$9,295,805$8,009,591$7,657,107$9,561,047
66$10,205,582$8,363,667$7,875,225$10,332,079
67$11,206,948$8,733,883$8,099,442$11,174,624
68$12,309,205$9,120,991$8,329,921$12,095,712
69$13,522,606$9,525,782$8,566,836$13,103,082
70$14,858,446$9,949,079$8,810,359$14,205,251
71$16,329,173$10,391,750$9,060,671$15,411,593
72$17,948,501$10,854,698$9,317,957$16,732,426
73$19,731,545$11,338,875$9,582,404$18,179,110
74$21,694,956$11,845,273$9,854,208$19,764,149
75$23,857,085$12,374,935$10,133,568$21,501,312
76$26,238,152$12,928,951$10,420,687$23,405,757
77$28,860,439$13,508,465$10,715,775$25,494,172
78$31,748,498$14,114,674$11,019,048$27,784,935
79$34,929,384$14,748,833$11,330,726$30,298,283
80$38,432,911$15,412,255$11,651,035$33,056,500
81$42,291,931$16,106,318$11,980,207$36,084,126
82$46,542,644$16,832,465$12,318,481$39,408,187
83$51,224,944$17,592,206$12,666,100$43,058,446
84$56,382,790$18,387,125$13,023,316$47,067,685
85$62,064,622$19,218,882$13,390,384$51,472,008
86$68,323,821$20,089,214$13,767,569$56,311,181
87$75,219,209$20,999,944$14,155,141$61,629,006
88$82,815,607$21,952,980$14,553,378$67,473,728
89$91,184,445$22,950,323$14,962,562$73,898,491
90$100,404,436$23,994,066$15,382,985$80,961,834
91$110,562,321$25,086,407$15,814,947$88,728,241
92$121,753,683$26,229,647$16,258,754$97,268,749
93$134,083,856$27,426,197$16,714,719$106,661,610
94$147,668,912$28,678,584$17,183,165$116,993,030
95$162,636,762$29,989,455$17,664,422$128,357,977
96$179,128,360$31,361,586$18,158,828$140,861,074
97$197,299,034$32,797,885$18,666,730$154,617,583
98$217,319,953$34,301,399$19,188,483$169,754,487
99$239,379,744$35,875,323$19,724,453$186,411,686
100$263,686,267$37,523,003$20,275,012$204,743,312