Can I retire at age 63 with 7,300,000?

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 $7,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$602,827$597,458$592,219$587,105$582,112$579,172
2 years$298,429$292,871$287,485$282,262$277,196$274,229
3 years$196,977$191,395$186,022$180,848$175,865$172,962
4 years$146,260$140,695$135,376$130,291$125,428$122,613
5 years$115,838$110,307$105,057$100,076$95,349$92,629
6 years$95,564$90,074$84,902$80,031$75,446$72,825
7 years$81,087$75,644$70,554$65,798$61,358$58,837
8 years$70,235$64,841$59,835$55,197$50,902$48,482
9 years$61,799$56,456$51,536$47,015$42,867$40,547
10 years$55,054$49,763$44,930$40,528$36,525$34,303
11 years$49,539$44,301$39,556$35,271$31,413$29,288
12 years$44,947$39,762$35,105$30,938$27,221$25,193
13 years$41,064$35,933$31,364$27,313$23,738$21,802
14 years$37,738$32,662$28,181$24,246$20,808$18,965
15 years$34,859$29,838$25,443$21,623$18,321$16,567
16 years$32,342$27,376$23,068$19,361$16,192$14,524
17 years$30,123$25,212$20,991$17,396$14,357$12,773
18 years$28,153$23,297$19,162$15,677$12,766$11,264
19 years$26,393$21,591$17,542$14,165$11,378$9,955
20 years$24,810$20,064$16,099$12,830$10,163$8,816
21 years$23,381$18,689$14,808$11,644$9,095$7,821
22 years$22,082$17,445$13,648$10,587$8,153$6,949
23 years$20,899$16,316$12,602$9,642$7,318$6,182
24 years$19,816$15,287$11,654$8,794$6,578$5,507
25 years$18,821$14,346$10,794$8,031$5,919$4,910
26 years$17,904$13,483$10,011$7,343$5,332$4,382
27 years$17,056$12,689$9,296$6,721$4,807$3,914
28 years$16,270$11,957$8,642$6,158$4,337$3,499
29 years$15,540$11,280$8,042$5,647$3,916$3,129
30 years$14,860$10,653$7,491$5,183$3,539$2,801
31 years$14,225$10,070$6,984$4,760$3,199$2,508
32 years$13,630$9,529$6,516$4,374$2,894$2,246
33 years$13,073$9,024$6,084$4,023$2,619$2,013
34 years$12,550$8,552$5,684$3,701$2,371$1,805
35 years$12,058$8,112$5,314$3,407$2,148$1,618
36 years$11,594$7,699$4,972$3,138$1,946$1,452
37 years$11,156$7,313$4,653$2,891$1,764$1,303
38 years$10,743$6,950$4,358$2,665$1,599$1,169
39 years$10,351$6,608$4,083$2,457$1,450$1,049
40 years$9,980$6,287$3,827$2,266$1,315$942
41 years$9,628$5,985$3,588$2,091$1,193$846
42 years$9,294$5,700$3,366$1,930$1,083$760
43 years$8,976$5,431$3,158$1,781$983$682
44 years$8,673$5,177$2,965$1,645$892$613
45 years$8,385$4,936$2,784$1,519$810$551
46 years$8,110$4,709$2,615$1,403$735$495
47 years$7,848$4,494$2,456$1,296$668$445
48 years$7,597$4,290$2,308$1,198$606$400
49 years$7,357$4,097$2,170$1,107$551$359
50 years$7,127$3,913$2,040$1,023$500$323

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $7,300,000, adding $3,451 every year, while hoping to spend $37,391 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: 31/45/24 Blend
62$7,300,000$7,300,000$7,300,000$7,300,000
63$8,048,160$7,661,260$7,548,110$8,237,923
64$8,829,288$7,996,878$7,761,188$8,718,728
65$9,688,839$8,347,688$7,980,151$9,232,356
66$10,634,771$8,714,395$8,205,156$9,784,500
67$11,675,854$9,097,737$8,436,366$10,378,543
68$12,821,753$9,498,488$8,673,946$11,018,193
69$14,083,115$9,917,457$8,918,066$11,707,513
70$15,471,672$10,355,492$9,168,900$12,450,954
71$17,000,353$10,813,481$9,426,629$13,253,396
72$18,683,402$11,292,355$9,691,434$14,120,189
73$20,536,516$11,793,087$9,963,504$15,057,204
74$22,576,991$12,316,698$10,243,031$16,070,878
75$24,823,885$12,864,258$10,530,214$17,168,276
76$27,298,200$13,436,885$10,825,255$18,357,151
77$30,023,077$14,035,753$11,128,362$19,646,014
78$33,024,015$14,662,090$11,439,747$21,044,208
79$36,329,115$15,317,183$11,759,629$22,561,996
80$39,969,340$16,002,380$12,088,231$24,210,646
81$43,978,809$16,719,093$12,425,783$26,002,539
82$48,395,121$17,468,801$12,772,520$27,951,275
83$53,259,707$18,253,056$13,128,683$30,071,800
84$58,618,221$19,073,480$13,494,518$32,380,538
85$64,520,973$19,931,774$13,870,278$34,895,541
86$71,023,403$20,829,721$14,256,223$37,636,655
87$78,186,601$21,769,189$14,652,617$40,625,697
88$86,077,887$22,752,132$15,059,733$43,886,656
89$94,771,447$23,780,602$15,477,849$47,445,912
90$104,349,029$24,856,746$15,907,252$51,332,476
91$114,900,717$25,982,814$16,348,232$55,578,258
92$126,525,783$27,161,164$16,801,090$60,218,358
93$139,333,618$28,394,267$17,266,132$65,291,391
94$153,444,773$29,684,711$17,743,673$70,839,837
95$168,992,087$31,035,209$18,234,034$76,910,438
96$186,121,950$32,448,605$18,737,544$83,554,628
97$204,995,678$33,927,876$19,254,541$90,829,006
98$225,791,039$35,476,143$19,785,370$98,795,858
99$248,703,930$37,096,679$20,330,384$107,523,741
100$273,950,224$38,792,910$20,889,946$117,088,109