Can I retire at age 63 with 8,300,000?

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 $8,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$685,406$679,301$673,344$667,531$661,854$653,854
2 years$339,310$332,991$326,866$320,928$315,168$307,118
3 years$223,960$217,613$211,504$205,622$199,956$192,104
4 years$166,296$159,969$153,921$148,139$142,610$135,018
5 years$131,707$125,417$119,449$113,785$108,410$101,100
6 years$108,655$102,413$96,532$90,995$85,781$78,761
7 years$92,195$86,006$80,219$74,812$69,763$63,036
8 years$79,857$73,723$68,032$62,758$57,875$51,441
9 years$70,265$64,189$58,596$53,456$48,739$42,595
10 years$62,596$56,580$51,085$46,079$41,528$35,670
11 years$56,325$50,370$44,975$40,103$35,716$30,138
12 years$51,104$45,209$39,914$35,176$30,950$25,647
13 years$46,689$40,856$35,660$31,055$26,989$21,954
14 years$42,908$37,137$32,041$27,567$23,659$18,884
15 years$39,634$33,925$28,929$24,585$20,831$16,309
16 years$36,772$31,126$26,228$22,013$18,411$14,133
17 years$34,250$28,665$23,867$19,779$16,324$12,283
18 years$32,010$26,488$21,787$17,824$14,515$10,702
19 years$30,008$24,549$19,945$16,106$12,937$9,344
20 years$28,209$22,812$18,305$14,587$11,556$8,173
21 years$26,583$21,249$16,837$13,239$10,341$7,159
22 years$25,107$19,835$15,518$12,037$9,269$6,281
23 years$23,762$18,551$14,328$10,962$8,321$5,516
24 years$22,530$17,381$13,251$9,998$7,479$4,849
25 years$21,399$16,311$12,273$9,131$6,730$4,267
26 years$20,356$15,330$11,382$8,349$6,062$3,758
27 years$19,392$14,427$10,570$7,642$5,465$3,312
28 years$18,499$13,595$9,826$7,002$4,931$2,920
29 years$17,669$12,825$9,144$6,421$4,453$2,576
30 years$16,895$12,112$8,517$5,893$4,024$2,274
31 years$16,173$11,450$7,940$5,412$3,638$2,008
32 years$15,497$10,834$7,408$4,974$3,291$1,774
33 years$14,864$10,260$6,917$4,574$2,978$1,567
34 years$14,269$9,724$6,463$4,208$2,696$1,385
35 years$13,710$9,223$6,042$3,874$2,442$1,225
36 years$13,182$8,754$5,653$3,568$2,213$1,083
37 years$12,685$8,314$5,291$3,287$2,005$958
38 years$12,214$7,902$4,955$3,030$1,818$847
39 years$11,769$7,514$4,642$2,794$1,649$750
40 years$11,347$7,149$4,351$2,577$1,495$663
41 years$10,947$6,805$4,080$2,377$1,357$587
42 years$10,567$6,481$3,827$2,194$1,231$520
43 years$10,206$6,175$3,591$2,025$1,117$460
44 years$9,862$5,886$3,371$1,870$1,014$407
45 years$9,534$5,613$3,165$1,727$921$360
46 years$9,221$5,354$2,973$1,595$836$319
47 years$8,923$5,110$2,793$1,474$759$282
48 years$8,637$4,878$2,624$1,362$689$250
49 years$8,365$4,658$2,467$1,259$626$221
50 years$8,104$4,450$2,319$1,163$569$196

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $8,300,000, adding $2,135 every year, while hoping to spend $47,241 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: 51/34/15 Blend
62$8,300,000$8,300,000$8,300,000$8,300,000
63$9,148,802$8,708,902$8,580,252$9,577,918
64$10,031,716$9,085,374$8,817,427$10,249,041
65$11,003,104$9,478,710$9,060,963$10,973,138
66$12,071,940$9,889,687$9,311,025$11,759,311
67$13,248,112$10,319,116$9,567,779$12,613,431
68$14,542,517$10,767,850$9,831,397$13,541,953
69$15,967,158$11,236,779$10,102,053$14,551,969
70$17,535,264$11,726,837$10,379,928$15,651,274
71$19,261,410$12,239,001$10,665,204$16,848,436
72$21,161,655$12,774,293$10,958,069$18,152,875
73$23,253,696$13,333,786$11,258,717$19,574,950
74$25,557,032$13,918,600$11,567,343$21,126,050
75$28,093,149$14,529,912$11,884,149$22,818,701
76$30,885,723$15,168,950$12,209,341$24,666,680
77$33,960,843$15,837,005$12,543,130$26,685,142
78$37,347,255$16,535,424$12,885,731$28,890,758
79$41,076,637$17,265,622$13,237,365$31,301,870
80$45,183,895$18,029,078$13,598,257$33,938,659
81$49,707,493$18,827,343$13,968,639$36,823,330
82$54,689,815$19,662,041$14,348,746$39,980,322
83$60,177,566$20,534,872$14,738,820$43,436,527
84$66,222,215$21,447,617$15,139,107$47,221,545
85$72,880,473$22,402,142$15,549,859$51,367,954
86$80,214,837$23,400,403$15,971,335$55,911,616
87$88,294,173$24,444,446$16,403,798$60,892,006
88$97,194,371$25,536,415$16,847,517$66,352,583
89$106,999,055$26,678,559$17,302,768$72,341,190
90$117,800,380$27,873,229$17,769,832$78,910,501
91$129,699,893$29,122,892$18,248,996$86,118,514
92$142,809,499$30,430,130$18,740,554$94,029,088
93$157,252,512$31,797,650$19,244,806$102,712,539
94$173,164,819$33,228,287$19,762,058$112,246,299
95$190,696,168$34,725,010$20,292,624$122,715,636
96$210,011,573$36,290,931$20,836,823$134,214,451
97$231,292,878$37,929,311$21,394,981$146,846,158
98$254,740,469$39,643,565$21,967,431$160,724,648
99$280,575,171$41,437,273$22,554,513$175,975,358
100$309,040,323$43,314,185$23,156,575$192,736,443