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%15.5%
1 years$734,954$728,407$722,020$715,786$709,698$693,669
2 years$363,838$357,062$350,495$344,128$337,952$321,888
3 years$240,150$233,344$226,794$220,486$214,410$198,815
4 years$178,317$171,533$165,048$158,848$152,919$137,911
5 years$141,228$134,484$128,084$122,010$116,247$101,869
6 years$116,509$109,816$103,511$97,573$91,982$78,249
7 years$98,860$92,223$86,018$80,220$74,806$61,720
8 years$85,629$79,052$72,950$67,294$62,059$49,615
9 years$75,344$68,829$62,832$57,320$52,263$40,452
10 years$67,121$60,670$54,778$49,410$44,530$33,340
11 years$60,397$54,011$48,226$43,002$38,298$27,712
12 years$54,798$48,477$42,799$37,718$33,188$23,191
13 years$50,064$43,809$38,238$33,300$28,940$19,514
14 years$46,010$39,821$34,357$29,560$25,369$16,494
15 years$42,499$36,377$31,020$26,362$22,337$13,992
16 years$39,430$33,376$28,124$23,604$19,741$11,907
17 years$36,726$30,738$25,592$21,208$17,504$10,158
18 years$34,324$28,403$23,362$19,113$15,564$8,684
19 years$32,178$26,324$21,387$17,270$13,872$7,438
20 years$30,248$24,461$19,628$15,642$12,391$6,381
21 years$28,505$22,785$18,054$14,196$11,089$5,481
22 years$26,922$21,269$16,639$12,907$9,939$4,713
23 years$25,479$19,892$15,363$11,755$8,922$4,057
24 years$24,159$18,638$14,209$10,721$8,019$3,495
25 years$22,946$17,490$13,160$9,791$7,216$3,013
26 years$21,828$16,438$12,205$8,952$6,500$2,599
27 years$20,794$15,470$11,334$8,194$5,860$2,243
28 years$19,836$14,578$10,536$7,508$5,288$1,936
29 years$18,946$13,752$9,805$6,885$4,775$1,672
30 years$18,117$12,988$9,133$6,319$4,314$1,445
31 years$17,342$12,278$8,514$5,803$3,901$1,249
32 years$16,618$11,617$7,944$5,333$3,528$1,079
33 years$15,939$11,002$7,417$4,904$3,193$933
34 years$15,301$10,427$6,930$4,512$2,891$807
35 years$14,701$9,890$6,479$4,154$2,619$698
36 years$14,135$9,387$6,061$3,826$2,373$604
37 years$13,602$8,915$5,673$3,525$2,150$522
38 years$13,097$8,473$5,313$3,249$1,949$452
39 years$12,620$8,057$4,977$2,996$1,768$391
40 years$12,168$7,665$4,665$2,763$1,604$339
41 years$11,739$7,297$4,375$2,549$1,455$293
42 years$11,331$6,949$4,104$2,353$1,320$254
43 years$10,943$6,621$3,851$2,172$1,198$219
44 years$10,574$6,311$3,614$2,005$1,087$190
45 years$10,223$6,018$3,394$1,852$987$164
46 years$9,888$5,741$3,188$1,711$896$142
47 years$9,568$5,479$2,995$1,580$814$123
48 years$9,262$5,230$2,814$1,460$739$107
49 years$8,969$4,995$2,645$1,350$671$92
50 years$8,690$4,771$2,487$1,248$610$80

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 $3,066 every year, while hoping to spend $33,748 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: 59/12/29 Blend
62$8,900,000$8,900,000$8,900,000$8,900,000
63$9,810,963$9,339,263$9,201,313$10,312,050
64$10,775,773$9,760,979$9,473,649$11,077,020
65$11,837,863$10,202,228$9,753,977$11,907,218
66$13,007,120$10,663,932$10,042,530$12,812,137
67$14,294,437$11,147,056$10,339,546$13,799,052
68$15,711,820$11,652,611$10,645,271$14,875,969
69$17,272,494$12,181,658$10,959,957$16,051,698
70$18,991,037$12,735,308$11,283,863$17,335,934
71$20,883,509$13,314,724$11,617,259$18,739,345
72$22,967,608$13,921,126$11,960,418$20,273,674
73$25,262,835$14,555,792$12,313,623$21,951,847
74$27,790,680$15,220,062$12,677,165$23,788,092
75$30,574,822$15,915,338$13,051,343$25,798,071
76$33,641,357$16,643,093$13,436,466$27,999,028
77$37,019,037$17,404,865$13,832,849$30,409,946
78$40,739,547$18,202,272$14,240,818$33,051,728
79$44,837,803$19,037,006$14,660,708$35,947,388
80$49,352,281$19,910,841$15,092,863$39,122,269
81$54,325,377$20,825,636$15,537,637$42,604,277
82$59,803,813$21,783,339$15,995,396$46,424,145
83$65,839,072$22,785,993$16,466,512$50,615,714
84$72,487,889$23,835,739$16,951,372$55,216,258
85$79,812,782$24,934,818$17,450,371$60,266,826
86$87,882,645$26,085,583$17,963,917$65,812,630
87$96,773,395$27,290,498$18,492,430$71,903,465
88$106,568,695$28,552,145$19,036,339$78,594,182
89$117,360,733$29,873,232$19,596,088$85,945,194
90$129,251,104$31,256,596$20,172,133$94,023,048
91$142,351,759$32,705,212$20,764,942$102,901,049
92$156,786,068$34,222,197$21,374,997$112,659,947
93$172,689,980$35,810,818$22,002,793$123,388,693
94$190,213,312$37,474,502$22,648,840$135,185,277
95$209,521,155$39,216,838$23,313,661$148,157,651
96$230,795,440$41,041,590$23,997,796$162,424,735
97$254,236,651$42,952,704$24,701,798$178,117,543
98$280,065,717$44,954,314$25,426,236$195,380,412
99$308,526,102$47,050,757$26,171,697$214,372,356
100$339,886,096$49,246,576$26,938,781$235,268,568