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%18.2%
1 years$660,633$654,748$649,007$643,403$637,931$616,770
2 years$327,046$320,955$315,052$309,328$303,777$282,663
3 years$215,865$209,748$203,859$198,190$192,728$172,324
4 years$160,285$154,187$148,357$142,785$137,456$117,917
5 years$126,946$120,884$115,131$109,672$104,492$85,871
6 years$104,727$98,711$93,043$87,706$82,681$64,994
7 years$88,863$82,897$77,319$72,108$67,241$50,485
8 years$76,970$71,058$65,573$60,489$55,783$39,946
9 years$67,725$61,869$56,478$51,524$46,978$32,039
10 years$60,333$54,535$49,239$44,414$40,027$25,965
11 years$54,289$48,549$43,349$38,653$34,425$21,211
12 years$49,256$43,575$38,471$33,904$29,832$17,438
13 years$45,001$39,379$34,371$29,932$26,014$14,408
14 years$41,357$35,794$30,883$26,571$22,804$11,954
15 years$38,201$32,699$27,883$23,696$20,078$9,950
16 years$35,443$30,001$25,280$21,217$17,745$8,304
17 years$33,012$27,629$23,004$19,064$15,734$6,947
18 years$30,853$25,531$21,000$17,180$13,990$5,822
19 years$28,924$23,662$19,224$15,524$12,470$4,886
20 years$27,189$21,988$17,643$14,060$11,138$4,106
21 years$25,622$20,481$16,228$12,760$9,967$3,455
22 years$24,200$19,118$14,957$11,602$8,934$2,909
23 years$22,903$17,881$13,810$10,566$8,020$2,451
24 years$21,716$16,753$12,772$9,637$7,208$2,067
25 years$20,625$15,722$11,829$8,801$6,487$1,744
26 years$19,620$14,776$10,971$8,047$5,843$1,472
27 years$18,691$13,906$10,188$7,366$5,268$1,243
28 years$17,830$13,103$9,471$6,749$4,753$1,049
29 years$17,030$12,362$8,813$6,189$4,292$887
30 years$16,285$11,674$8,209$5,680$3,878$749
31 years$15,589$11,036$7,653$5,216$3,506$633
32 years$14,937$10,442$7,141$4,794$3,172$535
33 years$14,327$9,889$6,667$4,408$2,870$452
34 years$13,753$9,373$6,229$4,056$2,599$383
35 years$13,214$8,890$5,824$3,734$2,354$323
36 years$12,706$8,438$5,448$3,439$2,133$274
37 years$12,226$8,014$5,100$3,168$1,933$231
38 years$11,773$7,616$4,775$2,920$1,752$196
39 years$11,344$7,242$4,474$2,693$1,589$165
40 years$10,937$6,890$4,194$2,484$1,441$140
41 years$10,552$6,559$3,932$2,291$1,308$118
42 years$10,185$6,246$3,689$2,115$1,187$100
43 years$9,837$5,952$3,461$1,952$1,077$85
44 years$9,505$5,673$3,249$1,803$977$72
45 years$9,189$5,410$3,051$1,665$887$61
46 years$8,888$5,161$2,865$1,538$806$51
47 years$8,600$4,925$2,692$1,421$732$43
48 years$8,325$4,702$2,530$1,313$664$37
49 years$8,062$4,490$2,378$1,213$603$31
50 years$7,811$4,289$2,235$1,121$548$26

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 $5,865 every year, while hoping to spend $34,763 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: 74/20/6 Blend
62$8,000,000$8,000,000$8,000,000$8,000,000
63$8,822,050$8,398,050$8,274,050$9,468,662
64$9,684,911$8,772,567$8,514,243$10,269,533
65$10,634,620$9,164,270$8,761,317$11,141,603
66$11,679,996$9,573,964$9,015,467$12,095,905
67$12,830,762$10,002,495$9,276,891$13,140,556
68$14,097,627$10,450,744$9,545,794$14,284,488
69$15,492,393$10,919,639$9,822,386$15,537,533
70$17,028,064$11,410,148$10,106,884$16,910,512
71$18,718,971$11,923,290$10,399,509$18,415,338
72$20,580,903$12,460,128$10,700,489$20,065,124
73$22,631,258$13,021,777$11,010,058$21,874,309
74$24,889,210$13,609,408$11,328,459$23,858,787
75$27,375,883$14,224,243$11,655,936$26,036,057
76$30,114,559$14,867,566$11,992,746$28,425,391
77$33,130,889$15,540,722$12,339,148$31,048,003
78$36,453,141$16,245,119$12,695,411$33,927,260
79$40,112,465$16,982,233$13,061,810$37,088,889
80$44,143,184$17,753,610$13,438,628$40,561,223
81$48,583,122$18,560,871$13,826,156$44,375,465
82$53,473,961$19,405,713$14,224,692$48,565,980
83$58,861,628$20,289,917$14,634,543$53,170,613
84$64,796,738$21,215,346$15,056,024$58,231,051
85$71,335,062$22,183,955$15,489,458$63,793,204
86$78,538,061$23,197,791$15,935,177$69,907,642
87$86,473,460$24,259,000$16,393,522$76,630,067
88$95,215,893$25,369,831$16,864,845$84,021,832
89$104,847,600$26,532,639$17,349,504$92,150,522
90$115,459,213$27,749,896$17,847,869$101,090,585
91$127,150,600$29,024,188$18,360,320$110,924,028
92$140,031,817$30,358,229$18,887,247$121,741,195
93$154,224,141$31,754,861$19,429,049$133,641,604
94$169,861,219$33,217,065$19,986,137$146,734,894
95$187,090,324$34,747,962$20,558,934$161,141,844
96$206,073,751$36,350,826$21,147,871$176,995,515
97$226,990,344$38,029,086$21,753,396$194,442,501
98$250,037,187$39,786,340$22,375,962$213,644,300
99$275,431,463$41,626,354$23,016,041$234,778,843
100$303,412,507$43,553,079$23,674,112$258,042,160