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%15.4%
1 years$611,085$605,642$600,331$595,148$590,086$576,993
2 years$302,517$296,883$291,423$286,129$280,994$267,871
3 years$199,675$194,016$188,570$183,325$178,274$165,531
4 years$148,264$142,623$137,231$132,076$127,146$114,881
5 years$117,425$111,818$106,497$101,447$96,655$84,902
6 years$96,873$91,308$86,065$81,128$76,480$65,252
7 years$82,198$76,680$71,520$66,700$62,198$51,497
8 years$71,197$65,729$60,655$55,953$51,600$41,422
9 years$62,646$57,229$52,242$47,659$43,454$33,792
10 years$55,808$50,444$45,546$41,083$37,025$27,868
11 years$50,218$44,908$40,098$35,754$31,843$23,179
12 years$45,562$40,307$35,586$31,361$27,594$19,410
13 years$41,626$36,426$31,794$27,687$24,063$16,343
14 years$38,255$33,110$28,567$24,578$21,093$13,823
15 years$35,336$30,246$25,792$21,919$18,572$11,735
16 years$32,785$27,751$23,384$19,626$16,414$9,993
17 years$30,536$25,557$21,279$17,634$14,554$8,531
18 years$28,539$23,616$19,425$15,892$12,941$7,299
19 years$26,754$21,887$17,782$14,360$11,534$6,257
20 years$25,150$20,339$16,320$13,005$10,303$5,371
21 years$23,701$18,945$15,011$11,803$9,220$4,617
22 years$22,385$17,684$13,835$10,732$8,264$3,973
23 years$21,185$16,540$12,774$9,774$7,418$3,423
24 years$20,087$15,496$11,814$8,914$6,668$2,951
25 years$19,078$14,543$10,942$8,141$6,000$2,546
26 years$18,149$13,668$10,148$7,444$5,405$2,198
27 years$17,289$12,863$9,423$6,813$4,873$1,898
28 years$16,493$12,121$8,760$6,242$4,397$1,640
29 years$15,753$11,434$8,152$5,724$3,970$1,418
30 years$15,063$10,799$7,594$5,254$3,587$1,226
31 years$14,419$10,208$7,079$4,825$3,243$1,060
32 years$13,817$9,659$6,605$4,434$2,934$917
33 years$13,252$9,147$6,167$4,078$2,655$794
34 years$12,722$8,670$5,762$3,752$2,404$687
35 years$12,223$8,223$5,387$3,454$2,177$595
36 years$11,753$7,805$5,040$3,181$1,973$515
37 years$11,309$7,413$4,717$2,931$1,788$446
38 years$10,890$7,045$4,417$2,701$1,621$386
39 years$10,493$6,699$4,139$2,491$1,470$334
40 years$10,117$6,373$3,879$2,297$1,333$290
41 years$9,760$6,067$3,637$2,120$1,210$251
42 years$9,421$5,778$3,412$1,956$1,098$217
43 years$9,099$5,505$3,202$1,806$996$188
44 years$8,792$5,248$3,005$1,667$904$163
45 years$8,500$5,004$2,822$1,540$821$141
46 years$8,221$4,774$2,650$1,422$745$122
47 years$7,955$4,556$2,490$1,314$677$106
48 years$7,701$4,349$2,340$1,214$615$92
49 years$7,458$4,153$2,199$1,122$558$80
50 years$7,225$3,967$2,068$1,037$507$69

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 $3,084 every year, while hoping to spend $45,732 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: 56/15/29 Blend
62$7,400,000$7,400,000$7,400,000$7,400,000
63$8,157,981$7,765,781$7,651,081$8,549,307
64$8,941,437$8,097,646$7,858,734$9,151,094
65$9,803,272$8,444,239$8,071,810$9,801,462
66$10,751,434$8,806,235$8,290,444$10,509,197
67$11,794,677$9,184,337$8,514,770$11,279,852
68$12,942,648$9,579,284$8,744,930$12,119,541
69$14,205,978$9,991,849$8,981,065$13,034,986
70$15,596,378$10,422,839$9,223,320$14,033,586
71$17,126,751$10,873,102$9,471,845$15,123,482
72$18,811,319$11,343,523$9,726,790$16,313,636
73$20,665,748$11,835,030$9,988,313$17,613,908
74$22,707,303$12,348,595$10,256,570$19,035,153
75$24,955,007$12,885,235$10,531,723$20,589,318
76$27,429,820$13,446,014$10,813,938$22,289,557
77$30,154,840$14,032,047$11,103,384$24,150,350
78$33,155,519$14,644,502$11,400,232$26,187,639
79$36,459,900$15,284,601$11,704,658$28,418,975
80$40,098,888$15,953,625$12,016,843$30,863,686
81$44,106,535$16,652,913$12,336,967$33,543,051
82$48,520,365$17,383,869$12,665,219$36,480,504
83$53,381,727$18,147,964$13,001,789$39,701,852
84$58,736,185$18,946,736$13,346,871$43,235,513
85$64,633,948$19,781,798$13,700,663$47,112,786
86$71,130,343$20,654,838$14,063,367$51,368,140
87$78,286,337$21,567,625$14,435,190$56,039,540
88$86,169,115$22,522,010$14,816,340$61,168,801
89$94,852,710$23,519,934$15,207,033$66,801,980
90$104,418,704$24,563,427$15,607,485$72,989,808
91$114,956,996$25,654,619$16,017,920$79,788,166
92$126,566,652$26,795,739$16,438,563$87,258,608
93$139,356,841$27,989,120$16,869,645$95,468,941
94$153,447,861$29,237,210$17,311,401$104,493,859
95$168,972,280$30,542,569$17,764,069$114,415,645
96$186,076,179$31,907,882$18,227,893$125,324,949
97$204,920,542$33,335,961$18,703,120$137,321,629
98$225,682,764$34,829,750$19,190,001$150,515,702
99$248,558,334$36,392,335$19,688,794$165,028,367
100$273,762,673$38,026,948$20,199,757$180,993,156