Can I retire at age 63 with 8,400,000?

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 $8,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$693,664$687,485$681,457$675,573$669,828$654,166
2 years$343,398$337,003$330,804$324,795$318,966$303,276
3 years$226,658$220,235$214,052$208,099$202,365$187,137
4 years$168,299$161,896$155,775$149,924$144,328$129,680
5 years$133,293$126,928$120,888$115,156$109,716$95,688
6 years$109,964$103,647$97,695$92,091$86,815$73,421
7 years$93,306$87,042$81,185$75,713$70,604$57,847
8 years$80,819$74,611$68,852$63,514$58,572$46,447
9 years$71,111$64,963$59,302$54,100$49,326$37,823
10 years$63,350$57,261$51,701$46,634$42,029$31,135
11 years$57,004$50,976$45,517$40,586$36,146$25,847
12 years$51,719$45,754$40,395$35,599$31,323$21,602
13 years$47,251$41,348$36,090$31,429$27,315$18,153
14 years$43,425$37,584$32,427$27,899$23,944$15,322
15 years$40,111$34,334$29,277$24,881$21,082$12,980
16 years$37,215$31,501$26,544$22,278$18,632$11,029
17 years$34,662$29,011$24,154$20,017$16,521$9,396
18 years$32,396$26,807$22,050$18,039$14,689$8,021
19 years$30,370$24,845$20,185$16,300$13,093$6,860
20 years$28,549$23,087$18,525$14,763$11,695$5,876
21 years$26,904$21,505$17,040$13,398$10,466$5,040
22 years$25,410$20,074$15,705$12,182$9,381$4,327
23 years$24,048$18,775$14,500$11,094$8,421$3,718
24 years$22,802$17,591$13,410$10,119$7,569$3,198
25 years$21,656$16,508$12,421$9,241$6,811$2,753
26 years$20,601$15,515$11,520$8,449$6,135$2,370
27 years$19,626$14,601$10,697$7,734$5,531$2,042
28 years$18,722$13,759$9,944$7,086$4,991$1,760
29 years$17,882$12,980$9,254$6,498$4,507$1,518
30 years$17,099$12,258$8,620$5,964$4,072$1,309
31 years$16,368$11,588$8,036$5,477$3,682$1,130
32 years$15,684$10,964$7,498$5,034$3,330$975
33 years$15,043$10,383$7,001$4,629$3,014$842
34 years$14,441$9,841$6,541$4,259$2,729$727
35 years$13,875$9,334$6,115$3,921$2,471$627
36 years$13,341$8,860$5,721$3,611$2,239$542
37 years$12,837$8,415$5,354$3,327$2,030$468
38 years$12,361$7,997$5,014$3,066$1,840$404
39 years$11,911$7,604$4,698$2,827$1,669$349
40 years$11,484$7,235$4,403$2,608$1,513$302
41 years$11,079$6,887$4,129$2,406$1,373$261
42 years$10,694$6,559$3,873$2,221$1,246$225
43 years$10,329$6,249$3,634$2,050$1,131$195
44 years$9,980$5,957$3,411$1,893$1,026$168
45 years$9,649$5,680$3,203$1,748$932$145
46 years$9,332$5,419$3,009$1,615$846$126
47 years$9,030$5,171$2,826$1,492$768$108
48 years$8,741$4,937$2,656$1,378$698$94
49 years$8,465$4,714$2,497$1,274$634$81
50 years$8,201$4,503$2,347$1,177$575$70

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $8,400,000, adding $5,604 every year, while hoping to spend $20,815 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: 30/42/28 Blend
62$8,400,000$8,400,000$8,400,000$8,400,000
63$9,262,581$8,817,381$8,687,181$9,460,517
64$10,185,217$9,227,285$8,956,054$10,025,634
65$11,201,264$9,656,578$9,233,237$10,630,931
66$12,320,229$10,106,186$9,518,986$11,281,682
67$13,552,586$10,577,082$9,813,566$11,981,857
68$14,909,877$11,070,287$10,117,248$12,735,800
69$16,404,823$11,586,869$10,430,314$13,548,268
70$18,051,438$12,127,949$10,753,053$14,424,471
71$19,865,168$12,694,702$11,085,764$15,370,121
72$21,863,032$13,288,358$11,428,753$16,391,475
73$24,063,783$13,910,210$11,782,338$17,495,393
74$26,488,089$14,561,611$12,146,847$18,689,400
75$29,158,723$15,243,978$12,522,615$19,981,746
76$32,100,780$15,958,800$12,909,990$21,381,485
77$35,341,914$16,707,637$13,309,330$22,898,549
78$38,912,601$17,492,122$13,721,003$24,543,840
79$42,846,420$18,313,971$14,145,391$26,329,325
80$47,180,379$19,174,978$14,582,885$28,268,143
81$51,955,255$20,077,030$15,033,889$30,374,724
82$57,215,986$21,022,100$15,498,820$32,664,914
83$63,012,093$22,012,259$15,978,107$35,156,122
84$69,398,146$23,049,679$16,472,192$37,867,471
85$76,434,278$24,136,634$16,981,532$40,819,979
86$84,186,758$25,275,513$17,506,597$44,036,740
87$92,728,610$26,468,816$18,047,871$47,543,140
88$102,140,308$27,719,168$18,605,855$51,367,082
89$112,510,530$29,029,318$19,181,062$55,539,246
90$123,937,001$30,402,151$19,774,023$60,093,363
91$136,527,409$31,840,690$20,385,287$65,066,525
92$150,400,426$33,348,106$21,015,416$70,499,527
93$165,686,829$34,927,722$21,664,992$76,437,234
94$182,530,730$36,583,025$22,334,614$82,929,000
95$201,090,940$38,317,669$23,024,899$90,029,117
96$221,542,467$40,135,486$23,736,484$97,797,314
97$244,078,168$42,040,494$24,470,025$106,299,311
98$268,910,569$44,036,906$25,226,199$115,607,421
99$296,273,872$46,129,139$26,005,701$125,801,219
100$326,426,166$48,321,826$26,809,252$136,968,278