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%13%
1 years$693,664$687,485$681,457$675,573$669,828$661,458
2 years$343,398$337,003$330,804$324,795$318,966$310,543
3 years$226,658$220,235$214,052$208,099$202,365$194,152
4 years$168,299$161,896$155,775$149,924$144,328$136,389
5 years$133,293$126,928$120,888$115,156$109,716$102,073
6 years$109,964$103,647$97,695$92,091$86,815$79,476
7 years$93,306$87,042$81,185$75,713$70,604$63,573
8 years$80,819$74,611$68,852$63,514$58,572$51,849
9 years$71,111$64,963$59,302$54,100$49,326$42,908
10 years$63,350$57,261$51,701$46,634$42,029$35,910
11 years$57,004$50,976$45,517$40,586$36,146$30,322
12 years$51,719$45,754$40,395$35,599$31,323$25,788
13 years$47,251$41,348$36,090$31,429$27,315$22,060
14 years$43,425$37,584$32,427$27,899$23,944$18,962
15 years$40,111$34,334$29,277$24,881$21,082$16,366
16 years$37,215$31,501$26,544$22,278$18,632$14,173
17 years$34,662$29,011$24,154$20,017$16,521$12,309
18 years$32,396$26,807$22,050$18,039$14,689$10,716
19 years$30,370$24,845$20,185$16,300$13,093$9,349
20 years$28,549$23,087$18,525$14,763$11,695$8,172
21 years$26,904$21,505$17,040$13,398$10,466$7,153
22 years$25,410$20,074$15,705$12,182$9,381$6,270
23 years$24,048$18,775$14,500$11,094$8,421$5,503
24 years$22,802$17,591$13,410$10,119$7,569$4,834
25 years$21,656$16,508$12,421$9,241$6,811$4,250
26 years$20,601$15,515$11,520$8,449$6,135$3,740
27 years$19,626$14,601$10,697$7,734$5,531$3,293
28 years$18,722$13,759$9,944$7,086$4,991$2,902
29 years$17,882$12,980$9,254$6,498$4,507$2,558
30 years$17,099$12,258$8,620$5,964$4,072$2,256
31 years$16,368$11,588$8,036$5,477$3,682$1,990
32 years$15,684$10,964$7,498$5,034$3,330$1,757
33 years$15,043$10,383$7,001$4,629$3,014$1,551
34 years$14,441$9,841$6,541$4,259$2,729$1,370
35 years$13,875$9,334$6,115$3,921$2,471$1,210
36 years$13,341$8,860$5,721$3,611$2,239$1,069
37 years$12,837$8,415$5,354$3,327$2,030$945
38 years$12,361$7,997$5,014$3,066$1,840$835
39 years$11,911$7,604$4,698$2,827$1,669$738
40 years$11,484$7,235$4,403$2,608$1,513$653
41 years$11,079$6,887$4,129$2,406$1,373$577
42 years$10,694$6,559$3,873$2,221$1,246$510
43 years$10,329$6,249$3,634$2,050$1,131$451
44 years$9,980$5,957$3,411$1,893$1,026$399
45 years$9,649$5,680$3,203$1,748$932$353
46 years$9,332$5,419$3,009$1,615$846$312
47 years$9,030$5,171$2,826$1,492$768$276
48 years$8,741$4,937$2,656$1,378$698$244
49 years$8,465$4,714$2,497$1,274$634$216
50 years$8,201$4,503$2,347$1,177$575$191

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 $4,051 every year, while hoping to spend $47,875 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: 28/45/27 Blend
62$8,400,000$8,400,000$8,400,000$8,400,000
63$9,260,979$8,815,779$8,685,579$9,442,474
64$10,154,660$9,196,813$8,925,607$9,968,362
65$11,137,892$9,594,914$9,172,071$10,528,542
66$12,219,759$10,010,866$9,425,138$11,129,429
67$13,410,268$10,445,493$9,684,974$11,774,546
68$14,720,449$10,899,656$9,951,754$12,467,752
69$16,162,452$11,374,256$10,225,655$13,213,270
70$17,749,665$11,870,238$10,506,858$14,015,729
71$19,496,842$12,388,590$10,795,548$14,880,198
72$21,420,236$12,930,347$11,091,915$15,812,237
73$23,537,761$13,496,595$11,396,155$16,817,936
74$25,869,152$14,088,467$11,708,465$17,903,979
75$28,436,156$14,707,153$12,029,050$19,077,693
76$31,262,739$15,353,898$12,358,118$20,347,118
77$34,375,304$16,030,005$12,695,881$21,721,078
78$37,802,950$16,736,841$13,042,558$23,209,255
79$41,577,739$17,475,834$13,398,371$24,822,282
80$45,735,001$18,248,482$13,763,550$26,571,829
81$50,313,668$19,056,355$14,138,326$28,470,716
82$55,356,641$19,901,095$14,522,939$30,533,021
83$60,911,193$20,784,424$14,917,632$32,774,213
84$67,029,417$21,708,143$15,322,655$35,211,286
85$73,768,716$22,674,140$15,738,262$37,862,915
86$81,192,346$23,684,394$16,164,715$40,749,623
87$89,370,012$24,740,976$16,602,279$43,893,973
88$98,378,525$25,846,055$17,051,227$47,320,765
89$108,302,529$27,001,906$17,511,837$51,057,267
90$119,235,297$28,210,910$17,984,394$55,133,464
91$131,279,613$29,475,560$18,469,188$59,582,331
92$144,548,743$30,798,472$18,966,515$64,440,132
93$159,167,500$32,182,383$19,476,678$69,746,757
94$175,273,427$33,630,161$19,999,988$75,546,087
95$193,018,089$35,144,811$20,536,760$81,886,397
96$212,568,510$36,729,483$21,087,318$88,820,800
97$234,108,745$38,387,475$21,651,990$96,407,738
98$257,841,619$40,122,243$22,231,114$104,711,518
99$283,990,640$41,937,409$22,825,032$113,802,914
100$312,802,110$43,836,767$23,434,095$123,759,813