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%18.8%
1 years$611,085$605,642$600,331$595,148$590,086$569,150
2 years$302,517$296,883$291,423$286,129$280,994$260,123
3 years$199,675$194,016$188,570$183,325$178,274$158,126
4 years$148,264$142,623$137,231$132,076$127,146$107,875
5 years$117,425$111,818$106,497$101,447$96,655$78,310
6 years$96,873$91,308$86,065$81,128$76,480$59,075
7 years$82,198$76,680$71,520$66,700$62,198$45,731
8 years$71,197$65,729$60,655$55,953$51,600$36,056
9 years$62,646$57,229$52,242$47,659$43,454$28,813
10 years$55,808$50,444$45,546$41,083$37,025$23,262
11 years$50,218$44,908$40,098$35,754$31,843$18,930
12 years$45,562$40,307$35,586$31,361$27,594$15,500
13 years$41,626$36,426$31,794$27,687$24,063$12,755
14 years$38,255$33,110$28,567$24,578$21,093$10,538
15 years$35,336$30,246$25,792$21,919$18,572$8,734
16 years$32,785$27,751$23,384$19,626$16,414$7,258
17 years$30,536$25,557$21,279$17,634$14,554$6,045
18 years$28,539$23,616$19,425$15,892$12,941$5,043
19 years$26,754$21,887$17,782$14,360$11,534$4,214
20 years$25,150$20,339$16,320$13,005$10,303$3,525
21 years$23,701$18,945$15,011$11,803$9,220$2,952
22 years$22,385$17,684$13,835$10,732$8,264$2,474
23 years$21,185$16,540$12,774$9,774$7,418$2,075
24 years$20,087$15,496$11,814$8,914$6,668$1,741
25 years$19,078$14,543$10,942$8,141$6,000$1,462
26 years$18,149$13,668$10,148$7,444$5,405$1,228
27 years$17,289$12,863$9,423$6,813$4,873$1,032
28 years$16,493$12,121$8,760$6,242$4,397$867
29 years$15,753$11,434$8,152$5,724$3,970$729
30 years$15,063$10,799$7,594$5,254$3,587$613
31 years$14,419$10,208$7,079$4,825$3,243$515
32 years$13,817$9,659$6,605$4,434$2,934$434
33 years$13,252$9,147$6,167$4,078$2,655$365
34 years$12,722$8,670$5,762$3,752$2,404$307
35 years$12,223$8,223$5,387$3,454$2,177$258
36 years$11,753$7,805$5,040$3,181$1,973$217
37 years$11,309$7,413$4,717$2,931$1,788$183
38 years$10,890$7,045$4,417$2,701$1,621$154
39 years$10,493$6,699$4,139$2,491$1,470$129
40 years$10,117$6,373$3,879$2,297$1,333$109
41 years$9,760$6,067$3,637$2,120$1,210$92
42 years$9,421$5,778$3,412$1,956$1,098$77
43 years$9,099$5,505$3,202$1,806$996$65
44 years$8,792$5,248$3,005$1,667$904$55
45 years$8,500$5,004$2,822$1,540$821$46
46 years$8,221$4,774$2,650$1,422$745$39
47 years$7,955$4,556$2,490$1,314$677$33
48 years$7,701$4,349$2,340$1,214$615$27
49 years$7,458$4,153$2,199$1,122$558$23
50 years$7,225$3,967$2,068$1,037$507$19

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 $2,493 every year, while hoping to spend $59,215 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: 26/45/29 Blend
62$7,400,000$7,400,000$7,400,000$7,400,000
63$8,157,372$7,765,172$7,650,472$8,295,611
64$8,926,419$8,082,661$7,843,758$8,727,582
65$9,771,925$8,413,722$8,041,535$9,185,506
66$10,701,625$8,758,958$8,243,890$9,675,621
67$11,724,043$9,119,000$8,450,913$10,200,692
68$12,848,570$9,494,505$8,662,693$10,763,749
69$14,085,551$9,886,163$8,879,320$11,368,109
70$15,446,387$10,294,695$9,100,887$12,017,405
71$16,943,638$10,720,854$9,327,486$12,715,620
72$18,591,143$11,165,429$9,559,210$13,467,120
73$20,404,149$11,629,245$9,796,154$14,276,691
74$22,399,459$12,113,164$10,038,411$15,149,582
75$24,595,583$12,618,089$10,286,078$16,091,553
76$27,012,921$13,144,964$10,539,250$17,108,922
77$29,673,948$13,694,777$10,798,024$18,208,624
78$32,603,430$14,268,559$11,062,497$19,398,273
79$35,828,655$14,867,394$11,332,766$20,686,227
80$39,379,692$15,492,411$11,608,928$22,081,664
81$43,289,676$16,144,794$11,891,082$23,594,666
82$47,595,116$16,825,782$12,179,326$25,236,307
83$52,336,242$17,536,670$12,473,758$27,018,757
84$57,557,385$18,278,813$12,774,475$28,955,386
85$63,307,395$19,053,631$13,081,576$31,060,889
86$69,640,099$19,862,609$13,395,159$33,351,421
87$76,614,812$20,707,300$13,715,320$35,844,738
88$84,296,896$21,589,330$14,042,156$38,560,365
89$92,758,374$22,510,403$14,375,764$41,519,771
90$102,078,615$23,472,299$14,716,238$44,746,565
91$112,345,074$24,476,882$15,063,673$48,266,715
92$123,654,127$25,526,105$15,418,162$52,108,784
93$136,111,975$26,622,011$15,779,796$56,304,191
94$149,835,644$27,766,737$16,148,667$60,887,506
95$164,954,095$28,962,522$16,524,863$65,896,760
96$181,609,437$30,211,711$16,908,470$71,373,803
97$199,958,270$31,516,755$17,299,575$77,364,689
98$220,173,162$32,880,224$17,698,258$83,920,098
99$242,444,275$34,304,806$18,104,601$91,095,811
100$266,981,166$35,793,316$18,518,679$98,953,220