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%15.2%
1 years$734,954$728,407$722,020$715,786$709,698$694,518
2 years$363,838$357,062$350,495$344,128$337,952$322,731
3 years$240,150$233,344$226,794$220,486$214,410$199,625
4 years$178,317$171,533$165,048$158,848$152,919$138,684
5 years$141,228$134,484$128,084$122,010$116,247$102,601
6 years$116,509$109,816$103,511$97,573$91,982$78,940
7 years$98,860$92,223$86,018$80,220$74,806$62,371
8 years$85,629$79,052$72,950$67,294$62,059$50,226
9 years$75,344$68,829$62,832$57,320$52,263$41,023
10 years$67,121$60,670$54,778$49,410$44,530$33,874
11 years$60,397$54,011$48,226$43,002$38,298$28,210
12 years$54,798$48,477$42,799$37,718$33,188$23,654
13 years$50,064$43,809$38,238$33,300$28,940$19,943
14 years$46,010$39,821$34,357$29,560$25,369$16,891
15 years$42,499$36,377$31,020$26,362$22,337$14,359
16 years$39,430$33,376$28,124$23,604$19,741$12,245
17 years$36,726$30,738$25,592$21,208$17,504$10,469
18 years$34,324$28,403$23,362$19,113$15,564$8,970
19 years$32,178$26,324$21,387$17,270$13,872$7,700
20 years$30,248$24,461$19,628$15,642$12,391$6,621
21 years$28,505$22,785$18,054$14,196$11,089$5,700
22 years$26,922$21,269$16,639$12,907$9,939$4,913
23 years$25,479$19,892$15,363$11,755$8,922$4,239
24 years$24,159$18,638$14,209$10,721$8,019$3,660
25 years$22,946$17,490$13,160$9,791$7,216$3,163
26 years$21,828$16,438$12,205$8,952$6,500$2,734
27 years$20,794$15,470$11,334$8,194$5,860$2,366
28 years$19,836$14,578$10,536$7,508$5,288$2,047
29 years$18,946$13,752$9,805$6,885$4,775$1,773
30 years$18,117$12,988$9,133$6,319$4,314$1,535
31 years$17,342$12,278$8,514$5,803$3,901$1,330
32 years$16,618$11,617$7,944$5,333$3,528$1,153
33 years$15,939$11,002$7,417$4,904$3,193$999
34 years$15,301$10,427$6,930$4,512$2,891$866
35 years$14,701$9,890$6,479$4,154$2,619$751
36 years$14,135$9,387$6,061$3,826$2,373$651
37 years$13,602$8,915$5,673$3,525$2,150$565
38 years$13,097$8,473$5,313$3,249$1,949$490
39 years$12,620$8,057$4,977$2,996$1,768$425
40 years$12,168$7,665$4,665$2,763$1,604$369
41 years$11,739$7,297$4,375$2,549$1,455$320
42 years$11,331$6,949$4,104$2,353$1,320$278
43 years$10,943$6,621$3,851$2,172$1,198$241
44 years$10,574$6,311$3,614$2,005$1,087$209
45 years$10,223$6,018$3,394$1,852$987$182
46 years$9,888$5,741$3,188$1,711$896$158
47 years$9,568$5,479$2,995$1,580$814$137
48 years$9,262$5,230$2,814$1,460$739$119
49 years$8,969$4,995$2,645$1,350$671$103
50 years$8,690$4,771$2,487$1,248$610$89

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 $3,711 every year, while hoping to spend $35,953 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: 48/37/15 Blend
62$8,900,000$8,900,000$8,900,000$8,900,000
63$9,811,628$9,339,928$9,201,978$10,241,325
64$10,774,160$9,759,331$9,471,990$10,958,143
65$11,833,666$10,198,079$9,749,843$11,732,031
66$12,999,998$10,657,083$10,035,762$12,571,542
67$14,284,014$11,137,297$10,329,976$13,482,823
68$15,697,677$11,639,718$10,632,724$14,472,628
69$17,254,170$12,165,394$10,944,250$15,548,374
70$18,968,018$12,715,421$11,264,804$16,718,208
71$20,855,227$13,290,947$11,594,646$17,991,084
72$22,933,434$13,893,178$11,934,041$19,376,838
73$25,222,074$14,523,373$12,283,261$20,886,284
74$27,742,562$15,182,855$12,642,587$22,531,306
75$30,518,496$15,873,008$13,012,307$24,324,968
76$33,575,882$16,595,284$13,392,718$26,281,634
77$36,943,372$17,351,203$13,784,124$28,417,101
78$40,652,543$18,142,359$14,186,839$30,748,736
79$44,738,189$18,970,421$14,601,185$33,295,643
80$49,238,652$19,837,140$15,027,492$36,078,835
81$54,196,183$20,744,348$15,466,102$39,121,423
82$59,657,341$21,693,969$15,917,364$42,448,838
83$65,673,431$22,688,014$16,381,637$46,089,053
84$72,300,990$23,728,596$16,859,291$50,072,853
85$79,602,320$24,817,926$17,350,705$54,434,109
86$87,646,074$25,958,322$17,856,271$59,210,097
87$96,507,906$27,152,213$18,376,390$64,441,840
88$106,271,187$28,402,145$18,911,473$70,174,490
89$117,027,786$29,710,788$19,461,945$76,457,744
90$128,878,941$31,080,938$20,028,241$83,346,306
91$141,936,215$32,515,526$20,610,810$90,900,395
92$156,322,547$34,017,625$21,210,110$99,186,307
93$172,173,414$35,590,455$21,826,615$108,277,025
94$189,638,107$37,237,392$22,460,812$118,252,904
95$208,881,143$38,961,974$23,113,198$129,202,419
96$230,083,818$40,767,909$23,784,288$141,222,986
97$253,445,914$42,659,083$24,474,609$154,421,874
98$279,187,591$44,639,572$25,184,702$168,917,202
99$307,551,460$46,713,645$25,915,124$184,839,048
100$338,804,876$48,885,781$26,666,448$202,330,657