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

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 $8,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$693,664$687,485$681,457$675,573$669,828$661,732
2 years$343,398$337,003$330,804$324,795$318,966$310,818
3 years$226,658$220,235$214,052$208,099$202,365$194,419
4 years$168,299$161,896$155,775$149,924$144,328$136,645
5 years$133,293$126,928$120,888$115,156$109,716$102,318
6 years$109,964$103,647$97,695$92,091$86,815$79,710
7 years$93,306$87,042$81,185$75,713$70,604$63,796
8 years$80,819$74,611$68,852$63,514$58,572$52,061
9 years$71,111$64,963$59,302$54,100$49,326$43,108
10 years$63,350$57,261$51,701$46,634$42,029$36,100
11 years$57,004$50,976$45,517$40,586$36,146$30,501
12 years$51,719$45,754$40,395$35,599$31,323$25,956
13 years$47,251$41,348$36,090$31,429$27,315$22,219
14 years$43,425$37,584$32,427$27,899$23,944$19,112
15 years$40,111$34,334$29,277$24,881$21,082$16,506
16 years$37,215$31,501$26,544$22,278$18,632$14,304
17 years$34,662$29,011$24,154$20,017$16,521$12,431
18 years$32,396$26,807$22,050$18,039$14,689$10,831
19 years$30,370$24,845$20,185$16,300$13,093$9,456
20 years$28,549$23,087$18,525$14,763$11,695$8,271
21 years$26,904$21,505$17,040$13,398$10,466$7,246
22 years$25,410$20,074$15,705$12,182$9,381$6,356
23 years$24,048$18,775$14,500$11,094$8,421$5,582
24 years$22,802$17,591$13,410$10,119$7,569$4,908
25 years$21,656$16,508$12,421$9,241$6,811$4,319
26 years$20,601$15,515$11,520$8,449$6,135$3,803
27 years$19,626$14,601$10,697$7,734$5,531$3,352
28 years$18,722$13,759$9,944$7,086$4,991$2,955
29 years$17,882$12,980$9,254$6,498$4,507$2,607
30 years$17,099$12,258$8,620$5,964$4,072$2,301
31 years$16,368$11,588$8,036$5,477$3,682$2,032
32 years$15,684$10,964$7,498$5,034$3,330$1,795
33 years$15,043$10,383$7,001$4,629$3,014$1,586
34 years$14,441$9,841$6,541$4,259$2,729$1,402
35 years$13,875$9,334$6,115$3,921$2,471$1,239
36 years$13,341$8,860$5,721$3,611$2,239$1,096
37 years$12,837$8,415$5,354$3,327$2,030$969
38 years$12,361$7,997$5,014$3,066$1,840$858
39 years$11,911$7,604$4,698$2,827$1,669$759
40 years$11,484$7,235$4,403$2,608$1,513$671
41 years$11,079$6,887$4,129$2,406$1,373$594
42 years$10,694$6,559$3,873$2,221$1,246$526
43 years$10,329$6,249$3,634$2,050$1,131$465
44 years$9,980$5,957$3,411$1,893$1,026$412
45 years$9,649$5,680$3,203$1,748$932$365
46 years$9,332$5,419$3,009$1,615$846$323
47 years$9,030$5,171$2,826$1,492$768$286
48 years$8,741$4,937$2,656$1,378$698$253
49 years$8,465$4,714$2,497$1,274$634$224
50 years$8,201$4,503$2,347$1,177$575$198

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 $4,842 every year, while hoping to spend $52,957 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: 73/13/14 Blend
62$8,400,000$8,400,000$8,400,000$8,400,000
63$9,261,795$8,816,595$8,686,395$9,909,470
64$10,150,152$9,192,262$8,921,043$10,714,544
65$11,127,346$9,584,562$9,161,777$11,589,140
66$12,202,384$9,994,254$9,408,745$12,545,725
67$13,385,187$10,422,132$9,662,098$13,592,412
68$14,686,689$10,869,029$9,921,990$14,738,131
69$16,118,934$11,335,814$10,188,580$15,992,715
70$17,695,195$11,823,399$10,462,027$17,366,988
71$19,430,097$12,332,738$10,742,497$18,872,870
72$21,339,754$12,864,829$11,030,158$20,523,484
73$23,441,921$13,420,718$11,325,181$22,333,282
74$25,756,163$14,001,499$11,627,740$24,318,176
75$28,304,037$14,608,318$11,938,015$26,495,691
76$31,109,298$15,242,374$12,256,187$28,885,127
77$34,198,120$15,904,925$12,582,444$31,507,740
78$37,599,346$16,597,284$12,916,973$34,386,937
79$41,344,757$17,320,828$13,259,969$37,548,503
80$45,469,374$18,077,000$13,611,630$41,020,834
81$50,011,786$18,867,309$13,972,156$44,835,212
82$55,014,517$19,693,337$14,341,752$49,026,088
83$60,524,425$20,556,737$14,720,628$53,631,416
84$66,593,144$21,459,245$15,108,997$58,692,999
85$73,277,572$22,402,676$15,507,075$64,256,890
86$80,640,408$23,388,930$15,915,086$70,373,818
87$88,750,741$24,419,999$16,333,252$77,099,668
88$97,684,706$25,497,968$16,761,806$84,496,006
89$107,526,199$26,625,022$17,200,980$92,630,653
90$118,367,671$27,803,447$17,651,012$101,578,330
91$130,310,997$29,035,640$18,112,144$111,421,354
92$143,468,442$30,324,110$18,584,625$122,250,415
93$157,963,717$31,671,485$19,068,703$134,165,428
94$173,933,147$33,080,519$19,564,636$147,276,475
95$191,526,958$34,554,094$20,072,681$161,704,838
96$210,910,696$36,095,233$20,593,104$177,584,142
97$232,266,787$37,707,099$21,126,173$195,061,612
98$255,796,260$39,393,008$21,672,160$214,299,461
99$281,720,644$41,156,431$22,231,344$235,476,413
100$310,284,061$43,001,007$22,804,004$258,789,391