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

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 $8,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.1%
1 years$734,954$728,407$722,020$715,786$709,698$683,702
2 years$363,838$357,062$350,495$344,128$337,952$312,050
3 years$240,150$233,344$226,794$220,486$214,410$189,418
4 years$178,317$171,533$165,048$158,848$152,919$129,027
5 years$141,228$134,484$128,084$122,010$116,247$93,517
6 years$116,509$109,816$103,511$97,573$91,982$70,431
7 years$98,860$92,223$86,018$80,220$74,806$54,428
8 years$85,629$79,052$72,950$67,294$62,059$42,837
9 years$75,344$68,829$62,832$57,320$52,263$34,169
10 years$67,121$60,670$54,778$49,410$44,530$27,534
11 years$60,397$54,011$48,226$43,002$38,298$22,362
12 years$54,798$48,477$42,799$37,718$33,188$18,274
13 years$50,064$43,809$38,238$33,300$28,940$15,007
14 years$46,010$39,821$34,357$29,560$25,369$12,372
15 years$42,499$36,377$31,020$26,362$22,337$10,233
16 years$39,430$33,376$28,124$23,604$19,741$8,485
17 years$36,726$30,738$25,592$21,208$17,504$7,051
18 years$34,324$28,403$23,362$19,113$15,564$5,869
19 years$32,178$26,324$21,387$17,270$13,872$4,893
20 years$30,248$24,461$19,628$15,642$12,391$4,084
21 years$28,505$22,785$18,054$14,196$11,089$3,412
22 years$26,922$21,269$16,639$12,907$9,939$2,853
23 years$25,479$19,892$15,363$11,755$8,922$2,387
24 years$24,159$18,638$14,209$10,721$8,019$1,998
25 years$22,946$17,490$13,160$9,791$7,216$1,674
26 years$21,828$16,438$12,205$8,952$6,500$1,402
27 years$20,794$15,470$11,334$8,194$5,860$1,175
28 years$19,836$14,578$10,536$7,508$5,288$985
29 years$18,946$13,752$9,805$6,885$4,775$826
30 years$18,117$12,988$9,133$6,319$4,314$693
31 years$17,342$12,278$8,514$5,803$3,901$582
32 years$16,618$11,617$7,944$5,333$3,528$488
33 years$15,939$11,002$7,417$4,904$3,193$409
34 years$15,301$10,427$6,930$4,512$2,891$344
35 years$14,701$9,890$6,479$4,154$2,619$288
36 years$14,135$9,387$6,061$3,826$2,373$242
37 years$13,602$8,915$5,673$3,525$2,150$203
38 years$13,097$8,473$5,313$3,249$1,949$171
39 years$12,620$8,057$4,977$2,996$1,768$143
40 years$12,168$7,665$4,665$2,763$1,604$120
41 years$11,739$7,297$4,375$2,549$1,455$101
42 years$11,331$6,949$4,104$2,353$1,320$85
43 years$10,943$6,621$3,851$2,172$1,198$71
44 years$10,574$6,311$3,614$2,005$1,087$60
45 years$10,223$6,018$3,394$1,852$987$50
46 years$9,888$5,741$3,188$1,711$896$42
47 years$9,568$5,479$2,995$1,580$814$35
48 years$9,262$5,230$2,814$1,460$739$30
49 years$8,969$4,995$2,645$1,350$671$25
50 years$8,690$4,771$2,487$1,248$610$21

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 $4,936 every year, while hoping to spend $34,983 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: 71/21/8 Blend
62$8,900,000$8,900,000$8,900,000$8,900,000
63$9,812,891$9,341,191$9,203,241$10,496,063
64$10,776,585$9,761,688$9,474,328$11,368,734
65$11,837,402$10,201,617$9,753,324$12,318,818
66$13,005,214$10,661,893$10,040,457$13,357,774
67$14,290,895$11,143,474$10,335,961$14,494,343
68$15,706,428$11,647,367$10,640,078$15,738,142
69$17,265,018$12,174,622$10,953,056$17,099,753
70$18,981,216$12,726,344$11,275,149$18,590,827
71$20,871,053$13,303,689$11,606,620$20,224,183
72$22,952,197$13,907,866$11,947,738$22,013,934
73$25,244,115$14,540,145$12,298,781$23,975,614
74$27,768,259$15,201,857$12,660,034$26,126,324
75$30,548,267$15,894,393$13,031,790$28,484,890
76$33,610,186$16,619,214$13,414,351$31,072,038
77$36,982,720$17,377,850$13,808,027$33,910,590
78$40,697,497$18,171,905$14,213,136$37,025,673
79$44,789,372$19,003,058$14,630,006$40,444,954
80$49,296,751$19,873,071$15,058,974$44,198,899
81$54,261,957$20,783,789$15,500,387$48,321,058
82$59,731,627$21,737,146$15,954,601$52,848,377
83$65,757,155$22,735,168$16,421,982$57,821,542
84$72,395,173$23,779,979$16,902,907$63,285,365
85$79,708,089$24,873,806$17,397,762$69,289,197
86$87,764,673$26,018,982$17,906,946$75,887,392
87$96,640,709$27,217,951$18,430,869$83,139,817
88$106,419,708$28,473,278$18,969,949$91,112,413
89$117,193,697$29,787,647$19,524,621$99,877,810
90$129,064,087$31,163,874$20,095,329$109,516,013
91$142,142,631$32,604,911$20,682,529$120,115,147
92$156,552,477$34,113,849$21,286,692$131,772,287
93$172,429,333$35,693,932$21,908,300$144,594,366
94$189,922,747$37,348,556$22,547,849$158,699,184
95$209,197,516$39,081,284$23,205,851$174,216,509
96$230,435,245$40,895,849$23,882,829$191,289,298
97$253,836,058$42,796,164$24,579,323$210,075,039
98$279,620,493$44,786,333$25,295,886$230,747,234
99$308,031,573$46,870,654$26,033,089$253,497,027
100$339,337,113$49,053,635$26,791,517$278,534,999