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

Use the below retirement simulation to view the chances of a successful retirement.
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%15%
1 years$685,406$679,301$673,344$667,531$661,854$648,225
2 years$339,310$332,991$326,866$320,928$315,168$301,500
3 years$223,960$217,613$211,504$205,622$199,956$186,674
4 years$166,296$159,969$153,921$148,139$142,610$129,817
5 years$131,707$125,417$119,449$113,785$108,410$96,142
6 years$108,655$102,413$96,532$90,995$85,781$74,051
7 years$92,195$86,006$80,219$74,812$69,763$58,574
8 years$79,857$73,723$68,032$62,758$57,875$47,223
9 years$70,265$64,189$58,596$53,456$48,739$38,617
10 years$62,596$56,580$51,085$46,079$41,528$31,926
11 years$56,325$50,370$44,975$40,103$35,716$26,622
12 years$51,104$45,209$39,914$35,176$30,950$22,351
13 years$46,689$40,856$35,660$31,055$26,989$18,870
14 years$42,908$37,137$32,041$27,567$23,659$16,004
15 years$39,634$33,925$28,929$24,585$20,831$13,624
16 years$36,772$31,126$26,228$22,013$18,411$11,634
17 years$34,250$28,665$23,867$19,779$16,324$9,961
18 years$32,010$26,488$21,787$17,824$14,515$8,548
19 years$30,008$24,549$19,945$16,106$12,937$7,349
20 years$28,209$22,812$18,305$14,587$11,556$6,328
21 years$26,583$21,249$16,837$13,239$10,341$5,456
22 years$25,107$19,835$15,518$12,037$9,269$4,710
23 years$23,762$18,551$14,328$10,962$8,321$4,070
24 years$22,530$17,381$13,251$9,998$7,479$3,520
25 years$21,399$16,311$12,273$9,131$6,730$3,046
26 years$20,356$15,330$11,382$8,349$6,062$2,638
27 years$19,392$14,427$10,570$7,642$5,465$2,286
28 years$18,499$13,595$9,826$7,002$4,931$1,982
29 years$17,669$12,825$9,144$6,421$4,453$1,719
30 years$16,895$12,112$8,517$5,893$4,024$1,491
31 years$16,173$11,450$7,940$5,412$3,638$1,294
32 years$15,497$10,834$7,408$4,974$3,291$1,123
33 years$14,864$10,260$6,917$4,574$2,978$975
34 years$14,269$9,724$6,463$4,208$2,696$847
35 years$13,710$9,223$6,042$3,874$2,442$736
36 years$13,182$8,754$5,653$3,568$2,213$639
37 years$12,685$8,314$5,291$3,287$2,005$555
38 years$12,214$7,902$4,955$3,030$1,818$482
39 years$11,769$7,514$4,642$2,794$1,649$419
40 years$11,347$7,149$4,351$2,577$1,495$364
41 years$10,947$6,805$4,080$2,377$1,357$317
42 years$10,567$6,481$3,827$2,194$1,231$275
43 years$10,206$6,175$3,591$2,025$1,117$239
44 years$9,862$5,886$3,371$1,870$1,014$208
45 years$9,534$5,613$3,165$1,727$921$181
46 years$9,221$5,354$2,973$1,595$836$157
47 years$8,923$5,110$2,793$1,474$759$137
48 years$8,637$4,878$2,624$1,362$689$119
49 years$8,365$4,658$2,467$1,259$626$103
50 years$8,104$4,450$2,319$1,163$569$90

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 $3,885 every year, while hoping to spend $39,974 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: 71/9/20 Blend
62$8,300,000$8,300,000$8,300,000$8,300,000
63$9,150,607$8,710,707$8,582,057$9,755,573
64$10,041,437$9,095,000$8,827,024$10,543,379
65$11,021,792$9,496,783$9,078,858$11,400,526
66$12,100,761$9,916,872$9,337,746$12,338,022
67$13,288,360$10,356,119$9,603,881$13,363,821
68$14,595,623$10,815,420$9,877,461$14,486,684
69$16,034,710$11,295,709$10,158,690$15,716,255
70$17,619,019$11,797,968$10,447,775$17,063,154
71$19,363,315$12,323,223$10,744,931$18,539,072
72$21,283,864$12,872,552$11,050,377$20,156,884
73$23,398,591$13,447,081$11,364,339$21,930,770
74$25,727,250$14,047,991$11,687,046$23,876,343
75$28,291,606$14,676,518$12,018,738$26,010,798
76$31,115,641$15,333,958$12,359,657$28,353,074
77$34,225,783$16,021,670$12,710,053$30,924,028
78$37,651,156$16,741,074$13,070,182$33,746,633
79$41,423,848$17,493,661$13,440,307$36,846,192
80$45,579,221$18,280,991$13,820,699$40,250,576
81$50,156,242$19,104,700$14,211,632$43,990,485
82$55,197,849$19,966,500$14,613,392$48,099,735
83$60,751,358$20,868,188$15,026,270$52,615,577
84$66,868,910$21,811,643$15,450,564$57,579,048
85$73,607,962$22,798,836$15,886,580$63,035,350
86$81,031,827$23,831,832$16,334,633$69,034,283
87$89,210,275$24,912,794$16,795,046$75,630,707
88$98,220,192$26,043,989$17,268,148$82,885,060
89$108,146,299$27,227,792$17,754,279$90,863,927
90$119,081,960$28,466,693$18,253,786$99,640,662
91$131,130,058$29,763,299$18,767,026$109,296,085
92$144,403,967$31,120,343$19,294,364$119,919,235
93$159,028,622$32,540,690$19,836,175$131,608,211
94$175,141,698$34,027,340$20,392,844$144,471,097
95$192,894,911$35,583,440$20,964,764$158,626,977
96$212,455,447$37,212,284$21,552,339$174,207,056
97$234,007,544$38,917,327$22,155,984$191,355,896
98$257,754,226$40,702,189$22,776,122$210,232,778
99$283,919,224$42,570,663$23,413,189$231,013,201
100$312,749,085$44,526,726$24,067,631$253,890,537