Can I retire at age 63 with 8,900,000?

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 $8,900,000?

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$734,954$728,407$722,020$715,786$709,698$701,121
2 years$363,838$357,062$350,495$344,128$337,952$329,319
3 years$240,150$233,344$226,794$220,486$214,410$205,991
4 years$178,317$171,533$165,048$158,848$152,919$144,779
5 years$141,228$134,484$128,084$122,010$116,247$108,408
6 years$116,509$109,816$103,511$97,573$91,982$84,455
7 years$98,860$92,223$86,018$80,220$74,806$67,593
8 years$85,629$79,052$72,950$67,294$62,059$55,160
9 years$75,344$68,829$62,832$57,320$52,263$45,674
10 years$67,121$60,670$54,778$49,410$44,530$38,249
11 years$60,397$54,011$48,226$43,002$38,298$32,317
12 years$54,798$48,477$42,799$37,718$33,188$27,501
13 years$50,064$43,809$38,238$33,300$28,940$23,541
14 years$46,010$39,821$34,357$29,560$25,369$20,249
15 years$42,499$36,377$31,020$26,362$22,337$17,488
16 years$39,430$33,376$28,124$23,604$19,741$15,155
17 years$36,726$30,738$25,592$21,208$17,504$13,171
18 years$34,324$28,403$23,362$19,113$15,564$11,475
19 years$32,178$26,324$21,387$17,270$13,872$10,019
20 years$30,248$24,461$19,628$15,642$12,391$8,763
21 years$28,505$22,785$18,054$14,196$11,089$7,677
22 years$26,922$21,269$16,639$12,907$9,939$6,735
23 years$25,479$19,892$15,363$11,755$8,922$5,915
24 years$24,159$18,638$14,209$10,721$8,019$5,200
25 years$22,946$17,490$13,160$9,791$7,216$4,576
26 years$21,828$16,438$12,205$8,952$6,500$4,030
27 years$20,794$15,470$11,334$8,194$5,860$3,551
28 years$19,836$14,578$10,536$7,508$5,288$3,131
29 years$18,946$13,752$9,805$6,885$4,775$2,763
30 years$18,117$12,988$9,133$6,319$4,314$2,438
31 years$17,342$12,278$8,514$5,803$3,901$2,153
32 years$16,618$11,617$7,944$5,333$3,528$1,902
33 years$15,939$11,002$7,417$4,904$3,193$1,681
34 years$15,301$10,427$6,930$4,512$2,891$1,485
35 years$14,701$9,890$6,479$4,154$2,619$1,313
36 years$14,135$9,387$6,061$3,826$2,373$1,161
37 years$13,602$8,915$5,673$3,525$2,150$1,027
38 years$13,097$8,473$5,313$3,249$1,949$909
39 years$12,620$8,057$4,977$2,996$1,768$804
40 years$12,168$7,665$4,665$2,763$1,604$711
41 years$11,739$7,297$4,375$2,549$1,455$629
42 years$11,331$6,949$4,104$2,353$1,320$557
43 years$10,943$6,621$3,851$2,172$1,198$493
44 years$10,574$6,311$3,614$2,005$1,087$436
45 years$10,223$6,018$3,394$1,852$987$386
46 years$9,888$5,741$3,188$1,711$896$342
47 years$9,568$5,479$2,995$1,580$814$303
48 years$9,262$5,230$2,814$1,460$739$268
49 years$8,969$4,995$2,645$1,350$671$237
50 years$8,690$4,771$2,487$1,248$610$210

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $8,900,000, adding $4,100 every year, while hoping to spend $26,892 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: 50/32/18 Blend
62$8,900,000$8,900,000$8,900,000$8,900,000
63$9,812,029$9,340,329$9,202,379$10,253,401
64$10,784,243$9,769,392$9,482,046$10,987,533
65$11,854,722$10,218,578$9,770,180$11,781,817
66$13,033,460$10,688,845$10,067,037$12,644,452
67$14,331,470$11,181,195$10,372,880$13,581,894
68$15,760,887$11,696,682$10,687,980$14,601,231
69$17,335,086$12,236,407$11,012,615$15,710,255
70$19,068,799$12,801,526$11,347,072$16,917,527
71$20,978,266$13,393,250$11,691,649$18,232,453
72$23,081,379$14,012,849$12,046,649$19,665,378
73$25,397,854$14,661,653$12,412,386$21,227,668
74$27,949,419$15,341,057$12,789,184$22,931,825
75$30,760,013$16,052,523$13,177,375$24,791,592
76$33,856,021$16,797,583$13,577,304$26,822,084
77$37,266,513$17,577,843$13,989,322$29,039,926
78$41,023,527$18,394,987$14,413,794$31,463,403
79$45,162,366$19,250,780$14,851,094$34,112,627
80$49,721,930$20,147,071$15,301,609$37,009,728
81$54,745,089$21,085,800$15,765,736$40,179,050
82$60,279,084$22,069,000$16,243,883$43,647,383
83$66,375,971$23,098,801$16,736,474$47,444,202
84$73,093,116$24,177,438$17,243,942$51,601,948
85$80,493,734$25,307,253$17,766,734$56,156,322
86$88,647,486$26,490,699$18,305,310$61,146,615
87$97,631,137$27,730,351$18,860,146$66,616,080
88$107,529,282$29,028,907$19,431,729$72,612,322
89$118,435,140$30,389,195$20,020,564$79,187,750
90$130,451,438$31,814,180$20,627,167$86,400,058
91$143,691,381$33,306,970$21,252,072$94,312,764
92$158,279,715$34,870,825$21,895,830$102,995,800
93$174,353,911$36,509,161$22,559,006$112,526,166
94$192,065,460$38,225,559$23,242,182$122,988,642
95$211,581,301$40,023,776$23,945,960$134,476,586
96$233,085,401$41,907,748$24,670,957$147,092,800
97$256,780,488$43,881,604$25,417,809$160,950,490
98$282,889,965$45,949,670$26,187,173$176,174,327
99$311,660,021$48,116,484$26,979,724$192,901,611
100$343,361,955$50,386,803$27,796,156$211,283,552