Can I retire at age 63 with 7,400,000?

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 $7,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.2%
1 years$611,085$605,642$600,331$595,148$590,086$568,246
2 years$302,517$296,883$291,423$286,129$280,994$259,236
3 years$199,675$194,016$188,570$183,325$178,274$157,284
4 years$148,264$142,623$137,231$132,076$127,146$107,084
5 years$117,425$111,818$106,497$101,447$96,655$77,572
6 years$96,873$91,308$86,065$81,128$76,480$58,390
7 years$82,198$76,680$71,520$66,700$62,198$45,098
8 years$71,197$65,729$60,655$55,953$51,600$35,472
9 years$62,646$57,229$52,242$47,659$43,454$28,277
10 years$55,808$50,444$45,546$41,083$37,025$22,772
11 years$50,218$44,908$40,098$35,754$31,843$18,483
12 years$45,562$40,307$35,586$31,361$27,594$15,094
13 years$41,626$36,426$31,794$27,687$24,063$12,386
14 years$38,255$33,110$28,567$24,578$21,093$10,205
15 years$35,336$30,246$25,792$21,919$18,572$8,434
16 years$32,785$27,751$23,384$19,626$16,414$6,988
17 years$30,536$25,557$21,279$17,634$14,554$5,803
18 years$28,539$23,616$19,425$15,892$12,941$4,827
19 years$26,754$21,887$17,782$14,360$11,534$4,021
20 years$25,150$20,339$16,320$13,005$10,303$3,353
21 years$23,701$18,945$15,011$11,803$9,220$2,799
22 years$22,385$17,684$13,835$10,732$8,264$2,339
23 years$21,185$16,540$12,774$9,774$7,418$1,955
24 years$20,087$15,496$11,814$8,914$6,668$1,636
25 years$19,078$14,543$10,942$8,141$6,000$1,369
26 years$18,149$13,668$10,148$7,444$5,405$1,146
27 years$17,289$12,863$9,423$6,813$4,873$960
28 years$16,493$12,121$8,760$6,242$4,397$804
29 years$15,753$11,434$8,152$5,724$3,970$674
30 years$15,063$10,799$7,594$5,254$3,587$565
31 years$14,419$10,208$7,079$4,825$3,243$473
32 years$13,817$9,659$6,605$4,434$2,934$397
33 years$13,252$9,147$6,167$4,078$2,655$333
34 years$12,722$8,670$5,762$3,752$2,404$279
35 years$12,223$8,223$5,387$3,454$2,177$234
36 years$11,753$7,805$5,040$3,181$1,973$196
37 years$11,309$7,413$4,717$2,931$1,788$165
38 years$10,890$7,045$4,417$2,701$1,621$138
39 years$10,493$6,699$4,139$2,491$1,470$116
40 years$10,117$6,373$3,879$2,297$1,333$97
41 years$9,760$6,067$3,637$2,120$1,210$81
42 years$9,421$5,778$3,412$1,956$1,098$68
43 years$9,099$5,505$3,202$1,806$996$57
44 years$8,792$5,248$3,005$1,667$904$48
45 years$8,500$5,004$2,822$1,540$821$40
46 years$8,221$4,774$2,650$1,422$745$34
47 years$7,955$4,556$2,490$1,314$677$28
48 years$7,701$4,349$2,340$1,214$615$24
49 years$7,458$4,153$2,199$1,122$558$20
50 years$7,225$3,967$2,068$1,037$507$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $7,400,000, adding $4,865 every year, while hoping to spend $23,961 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: 66/14/20 Blend
62$7,400,000$7,400,000$7,400,000$7,400,000
63$8,159,818$7,767,618$7,652,918$8,657,004
64$8,966,625$8,122,737$7,883,797$9,346,154
65$9,854,924$8,494,454$8,121,606$10,096,042
66$10,833,000$8,883,556$8,366,555$10,915,258
67$11,909,986$9,290,870$8,618,854$11,810,608
68$13,095,943$9,717,262$8,878,724$12,789,585
69$14,401,959$10,163,637$9,146,390$13,860,431
70$15,840,250$10,630,946$9,422,086$15,032,220
71$17,424,279$11,120,187$9,706,050$16,314,940
72$19,168,882$11,632,402$9,998,529$17,719,585
73$21,090,405$12,168,687$10,299,777$19,258,257
74$23,206,862$12,730,188$10,610,055$20,944,281
75$25,538,103$13,318,108$10,929,632$22,792,326
76$28,106,000$13,933,706$11,258,786$24,818,543
77$30,934,658$14,578,304$11,597,801$27,040,716
78$34,050,637$15,253,284$11,946,971$29,478,428
79$37,483,206$15,960,099$12,306,599$32,153,243
80$41,264,618$16,700,270$12,676,995$35,088,905
81$45,430,415$17,475,389$13,058,481$38,311,567
82$50,019,764$18,287,129$13,451,386$41,850,027
83$55,075,822$19,137,240$13,856,049$45,736,004
84$60,646,150$20,027,560$14,272,821$50,004,432
85$66,783,159$20,960,012$14,702,062$54,693,785
86$73,544,602$21,936,613$15,144,142$59,846,445
87$80,994,123$22,959,479$15,599,443$65,509,088
88$89,201,857$24,030,827$16,068,358$71,733,132
89$98,245,090$25,152,980$16,551,291$78,575,214
90$108,208,988$26,328,375$17,048,658$86,097,722
91$119,187,405$27,559,566$17,560,888$94,369,381
92$131,283,765$28,849,230$18,088,423$103,465,897
93$144,612,040$30,200,174$18,631,717$113,470,671
94$159,297,826$31,615,339$19,191,236$124,475,580
95$175,479,525$33,097,812$19,767,464$136,581,840
96$193,309,657$34,650,825$20,360,894$149,900,959
97$212,956,296$36,277,769$20,972,038$164,555,785
98$234,604,657$37,982,199$21,601,421$180,681,658
99$258,458,846$39,767,841$22,249,582$198,427,687
100$284,743,785$41,638,601$22,917,079$217,958,152