Can I retire at age 63 with 8,000,000?

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 $8,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$660,633$654,748$649,007$643,403$637,931$633,645
2 years$327,046$320,955$315,052$309,328$303,777$299,454
3 years$215,865$209,748$203,859$198,190$192,728$188,503
4 years$160,285$154,187$148,357$142,785$137,456$133,360
5 years$126,946$120,884$115,131$109,672$104,492$100,538
6 years$104,727$98,711$93,043$87,706$82,681$78,874
7 years$88,863$82,897$77,319$72,108$67,241$63,584
8 years$76,970$71,058$65,573$60,489$55,783$52,274
9 years$67,725$61,869$56,478$51,524$46,978$43,617
10 years$60,333$54,535$49,239$44,414$40,027$36,812
11 years$54,289$48,549$43,349$38,653$34,425$31,354
12 years$49,256$43,575$38,471$33,904$29,832$26,902
13 years$45,001$39,379$34,371$29,932$26,014$23,222
14 years$41,357$35,794$30,883$26,571$22,804$20,147
15 years$38,201$32,699$27,883$23,696$20,078$17,553
16 years$35,443$30,001$25,280$21,217$17,745$15,347
17 years$33,012$27,629$23,004$19,064$15,734$13,460
18 years$30,853$25,531$21,000$17,180$13,990$11,836
19 years$28,924$23,662$19,224$15,524$12,470$10,431
20 years$27,189$21,988$17,643$14,060$11,138$9,211
21 years$25,622$20,481$16,228$12,760$9,967$8,147
22 years$24,200$19,118$14,957$11,602$8,934$7,217
23 years$22,903$17,881$13,810$10,566$8,020$6,402
24 years$21,716$16,753$12,772$9,637$7,208$5,685
25 years$20,625$15,722$11,829$8,801$6,487$5,053
26 years$19,620$14,776$10,971$8,047$5,843$4,496
27 years$18,691$13,906$10,188$7,366$5,268$4,003
28 years$17,830$13,103$9,471$6,749$4,753$3,567
29 years$17,030$12,362$8,813$6,189$4,292$3,180
30 years$16,285$11,674$8,209$5,680$3,878$2,837
31 years$15,589$11,036$7,653$5,216$3,506$2,532
32 years$14,937$10,442$7,141$4,794$3,172$2,261
33 years$14,327$9,889$6,667$4,408$2,870$2,019
34 years$13,753$9,373$6,229$4,056$2,599$1,804
35 years$13,214$8,890$5,824$3,734$2,354$1,612
36 years$12,706$8,438$5,448$3,439$2,133$1,442
37 years$12,226$8,014$5,100$3,168$1,933$1,289
38 years$11,773$7,616$4,775$2,920$1,752$1,153
39 years$11,344$7,242$4,474$2,693$1,589$1,031
40 years$10,937$6,890$4,194$2,484$1,441$923
41 years$10,552$6,559$3,932$2,291$1,308$826
42 years$10,185$6,246$3,689$2,115$1,187$739
43 years$9,837$5,952$3,461$1,952$1,077$662
44 years$9,505$5,673$3,249$1,803$977$592
45 years$9,189$5,410$3,051$1,665$887$530
46 years$8,888$5,161$2,865$1,538$806$475
47 years$8,600$4,925$2,692$1,421$732$425
48 years$8,325$4,702$2,530$1,313$664$381
49 years$8,062$4,490$2,378$1,213$603$341
50 years$7,811$4,289$2,235$1,121$548$305

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $8,000,000, adding $4,173 every year, while hoping to spend $32,206 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: 64/17/19 Blend
62$8,000,000$8,000,000$8,000,000$8,000,000
63$8,820,304$8,396,304$8,272,304$9,342,144
64$9,685,709$8,773,456$8,515,160$10,070,527
65$10,638,305$9,168,009$8,765,071$10,861,895
66$11,686,952$9,580,782$9,022,241$11,725,683
67$12,841,413$10,012,632$9,286,878$12,668,970
68$14,112,444$10,464,458$9,559,196$13,699,545
69$15,511,898$10,937,202$9,839,414$14,825,980
70$17,052,837$11,431,849$10,127,759$16,057,705
71$18,749,650$11,949,435$10,424,463$17,405,101
72$20,618,198$12,491,040$10,729,766$18,879,593
73$22,675,954$13,057,801$11,043,913$20,493,756
74$24,942,175$13,650,907$11,367,158$22,261,432
75$27,438,078$14,271,602$11,699,758$24,197,860
76$30,187,044$14,921,193$12,041,983$26,319,815
77$33,214,840$15,601,049$12,394,106$28,645,767
78$36,549,855$16,312,601$12,756,410$31,196,051
79$40,223,375$17,057,354$13,129,185$33,993,056
80$44,269,875$17,836,881$13,512,729$37,061,437
81$48,727,346$18,652,831$13,907,349$40,428,342
82$53,637,650$19,506,934$14,313,360$44,123,665
83$59,046,918$20,401,002$14,731,085$48,180,331
84$65,005,986$21,336,934$15,160,859$52,634,595
85$71,570,872$22,316,719$15,603,023$57,526,389
86$78,803,306$23,342,443$16,057,929$62,899,691
87$86,771,312$24,416,292$16,525,939$68,802,937
88$95,549,853$25,540,557$17,007,425$75,289,479
89$105,221,532$26,717,638$17,502,768$82,418,080
90$115,877,379$27,950,053$18,012,361$90,253,466
91$127,617,704$29,240,439$18,536,608$98,866,934
92$140,553,049$30,591,559$19,075,923$108,337,022
93$154,805,227$32,006,312$19,630,734$118,750,242
94$170,508,474$33,487,735$20,201,477$130,201,896
95$187,810,715$35,039,011$20,788,603$142,796,970
96$206,874,961$36,663,476$21,392,575$156,651,117
97$227,880,849$38,364,628$22,013,867$171,891,748
98$251,026,333$40,146,132$22,652,969$188,659,229
99$276,529,558$42,011,832$23,310,383$207,108,194
100$304,630,916$43,965,754$23,986,624$227,409,009