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

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 $7,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$602,827$597,458$592,219$587,105$582,112$563,704
2 years$298,429$292,871$287,485$282,262$277,196$258,817
3 years$196,977$191,395$186,022$180,848$175,865$158,091
4 years$146,260$140,695$135,376$130,291$125,428$108,397
5 years$115,838$110,307$105,057$100,076$95,349$79,105
6 years$95,564$90,074$84,902$80,031$75,446$60,004
7 years$81,087$75,644$70,554$65,798$61,358$46,716
8 years$70,235$64,841$59,835$55,197$50,902$37,050
9 years$61,799$56,456$51,536$47,015$42,867$29,790
10 years$55,054$49,763$44,930$40,528$36,525$24,203
11 years$49,539$44,301$39,556$35,271$31,413$19,823
12 years$44,947$39,762$35,105$30,938$27,221$16,340
13 years$41,064$35,933$31,364$27,313$23,738$13,538
14 years$37,738$32,662$28,181$24,246$20,808$11,263
15 years$34,859$29,838$25,443$21,623$18,321$9,401
16 years$32,342$27,376$23,068$19,361$16,192$7,869
17 years$30,123$25,212$20,991$17,396$14,357$6,602
18 years$28,153$23,297$19,162$15,677$12,766$5,549
19 years$26,393$21,591$17,542$14,165$11,378$4,672
20 years$24,810$20,064$16,099$12,830$10,163$3,938
21 years$23,381$18,689$14,808$11,644$9,095$3,323
22 years$22,082$17,445$13,648$10,587$8,153$2,807
23 years$20,899$16,316$12,602$9,642$7,318$2,373
24 years$19,816$15,287$11,654$8,794$6,578$2,007
25 years$18,821$14,346$10,794$8,031$5,919$1,699
26 years$17,904$13,483$10,011$7,343$5,332$1,438
27 years$17,056$12,689$9,296$6,721$4,807$1,218
28 years$16,270$11,957$8,642$6,158$4,337$1,032
29 years$15,540$11,280$8,042$5,647$3,916$875
30 years$14,860$10,653$7,491$5,183$3,539$742
31 years$14,225$10,070$6,984$4,760$3,199$629
32 years$13,630$9,529$6,516$4,374$2,894$533
33 years$13,073$9,024$6,084$4,023$2,619$453
34 years$12,550$8,552$5,684$3,701$2,371$384
35 years$12,058$8,112$5,314$3,407$2,148$326
36 years$11,594$7,699$4,972$3,138$1,946$276
37 years$11,156$7,313$4,653$2,891$1,764$234
38 years$10,743$6,950$4,358$2,665$1,599$199
39 years$10,351$6,608$4,083$2,457$1,450$169
40 years$9,980$6,287$3,827$2,266$1,315$143
41 years$9,628$5,985$3,588$2,091$1,193$122
42 years$9,294$5,700$3,366$1,930$1,083$103
43 years$8,976$5,431$3,158$1,781$983$88
44 years$8,673$5,177$2,965$1,645$892$74
45 years$8,385$4,936$2,784$1,519$810$63
46 years$8,110$4,709$2,615$1,403$735$54
47 years$7,848$4,494$2,456$1,296$668$45
48 years$7,597$4,290$2,308$1,198$606$39
49 years$7,357$4,097$2,170$1,107$551$33
50 years$7,127$3,913$2,040$1,023$500$28

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 $4,432 every year, while hoping to spend $29,142 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: 48/28/24 Blend
62$7,300,000$7,300,000$7,300,000$7,300,000
63$8,049,172$7,662,272$7,549,122$8,380,413
64$8,839,180$8,006,716$7,771,010$8,957,020
65$9,708,793$8,367,062$7,999,356$9,579,559
66$10,666,099$8,744,057$8,234,343$10,255,023
67$11,720,011$9,138,485$8,476,163$10,988,407
68$12,880,350$9,551,169$8,725,012$11,785,193
69$14,157,937$9,982,968$8,981,092$12,651,411
70$15,564,698$10,434,785$9,244,610$13,593,682
71$17,113,773$10,907,564$9,515,780$14,619,289
72$18,819,639$11,402,296$9,794,820$15,736,236
73$20,698,252$11,920,019$10,081,956$16,953,322
74$22,767,192$12,461,818$10,377,420$18,280,225
75$25,045,832$13,028,834$10,681,450$19,727,584
76$27,555,520$13,622,259$10,994,292$21,307,104
77$30,319,779$14,243,346$11,316,196$23,031,657
78$33,364,530$14,893,404$11,647,423$24,915,404
79$36,718,338$15,573,807$11,988,238$26,973,925
80$40,412,680$16,285,994$12,338,915$29,224,360
81$44,482,240$17,031,475$12,699,735$31,685,568
82$48,965,240$17,811,829$13,070,988$34,378,304
83$53,903,800$18,628,714$13,452,971$37,325,408
84$59,344,332$19,483,865$13,845,990$40,552,015
85$65,337,982$20,379,102$14,250,359$44,085,794
86$71,941,110$21,316,333$14,666,401$47,957,195
87$79,215,826$22,297,556$15,094,447$52,199,743
88$87,230,570$23,324,865$15,534,841$56,850,339
89$96,060,761$24,400,457$15,987,931$61,949,610
90$105,789,511$25,526,631$16,454,079$67,542,283
91$116,508,405$26,705,801$16,933,655$73,677,604
92$128,318,371$27,940,493$17,427,041$80,409,796
93$141,330,625$29,233,358$17,934,627$87,798,565
94$155,667,729$30,587,172$18,456,817$95,909,655
95$171,464,740$32,004,847$18,994,023$104,815,465
96$188,870,492$33,489,433$19,546,672$114,595,724
97$208,048,996$35,044,129$20,115,199$125,338,235
98$229,180,989$36,672,287$20,700,054$137,139,696
99$252,465,642$38,377,421$21,301,697$150,106,608
100$278,122,438$40,163,214$21,920,604$164,356,268