Can I retire at age 63 with 7,400,000?

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 $7,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$611,085$605,642$600,331$595,148$590,086$577,936
2 years$302,517$296,883$291,423$286,129$280,994$268,807
3 years$199,675$194,016$188,570$183,325$178,274$166,432
4 years$148,264$142,623$137,231$132,076$127,146$115,741
5 years$117,425$111,818$106,497$101,447$96,655$85,717
6 years$96,873$91,308$86,065$81,128$76,480$66,022
7 years$82,198$76,680$71,520$66,700$62,198$52,222
8 years$71,197$65,729$60,655$55,953$51,600$42,103
9 years$62,646$57,229$52,242$47,659$43,454$34,430
10 years$55,808$50,444$45,546$41,083$37,025$28,465
11 years$50,218$44,908$40,098$35,754$31,843$23,735
12 years$45,562$40,307$35,586$31,361$27,594$19,928
13 years$41,626$36,426$31,794$27,687$24,063$16,824
14 years$38,255$33,110$28,567$24,578$21,093$14,268
15 years$35,336$30,246$25,792$21,919$18,572$12,147
16 years$32,785$27,751$23,384$19,626$16,414$10,373
17 years$30,536$25,557$21,279$17,634$14,554$8,881
18 years$28,539$23,616$19,425$15,892$12,941$7,621
19 years$26,754$21,887$17,782$14,360$11,534$6,552
20 years$25,150$20,339$16,320$13,005$10,303$5,642
21 years$23,701$18,945$15,011$11,803$9,220$4,864
22 years$22,385$17,684$13,835$10,732$8,264$4,199
23 years$21,185$16,540$12,774$9,774$7,418$3,629
24 years$20,087$15,496$11,814$8,914$6,668$3,138
25 years$19,078$14,543$10,942$8,141$6,000$2,716
26 years$18,149$13,668$10,148$7,444$5,405$2,352
27 years$17,289$12,863$9,423$6,813$4,873$2,038
28 years$16,493$12,121$8,760$6,242$4,397$1,767
29 years$15,753$11,434$8,152$5,724$3,970$1,532
30 years$15,063$10,799$7,594$5,254$3,587$1,329
31 years$14,419$10,208$7,079$4,825$3,243$1,154
32 years$13,817$9,659$6,605$4,434$2,934$1,001
33 years$13,252$9,147$6,167$4,078$2,655$870
34 years$12,722$8,670$5,762$3,752$2,404$755
35 years$12,223$8,223$5,387$3,454$2,177$656
36 years$11,753$7,805$5,040$3,181$1,973$570
37 years$11,309$7,413$4,717$2,931$1,788$495
38 years$10,890$7,045$4,417$2,701$1,621$430
39 years$10,493$6,699$4,139$2,491$1,470$374
40 years$10,117$6,373$3,879$2,297$1,333$325
41 years$9,760$6,067$3,637$2,120$1,210$282
42 years$9,421$5,778$3,412$1,956$1,098$245
43 years$9,099$5,505$3,202$1,806$996$213
44 years$8,792$5,248$3,005$1,667$904$185
45 years$8,500$5,004$2,822$1,540$821$161
46 years$8,221$4,774$2,650$1,422$745$140
47 years$7,955$4,556$2,490$1,314$677$122
48 years$7,701$4,349$2,340$1,214$615$106
49 years$7,458$4,153$2,199$1,122$558$92
50 years$7,225$3,967$2,068$1,037$507$80

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $7,400,000, adding $5,889 every year, while hoping to spend $23,704 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: 48/47/5 Blend
62$7,400,000$7,400,000$7,400,000$7,400,000
63$8,160,875$7,768,675$7,653,975$8,542,037
64$8,968,063$8,124,119$7,885,162$9,158,504
65$9,856,790$8,496,185$8,123,299$9,824,410
66$10,835,348$8,885,663$8,368,595$10,546,788
67$11,912,873$9,293,381$8,621,263$11,330,892
68$13,099,434$9,720,204$8,881,523$12,182,485
69$14,406,125$10,167,043$9,149,603$13,107,896
70$15,845,170$10,634,849$9,425,735$14,114,074
71$17,430,042$11,124,621$9,710,161$15,208,648
72$19,175,583$11,637,404$10,003,129$16,399,998
73$21,098,151$12,174,295$10,304,892$17,697,332
74$23,215,771$12,736,444$10,615,714$19,110,764
75$25,548,304$13,325,055$10,935,866$20,651,407
76$28,117,639$13,941,390$11,265,625$22,331,477
77$30,947,893$14,586,773$11,605,278$24,164,398
78$34,065,644$15,262,591$11,955,121$26,164,927
79$37,500,180$15,970,298$12,315,457$28,349,290
80$41,283,772$16,711,417$12,686,600$30,735,326
81$45,451,987$17,487,546$13,068,870$33,342,649
82$50,044,013$18,300,359$13,462,601$36,192,834
83$55,103,038$19,151,612$13,868,133$39,309,607
84$60,676,650$20,043,144$14,285,819$42,719,067
85$66,817,294$20,976,884$14,716,019$46,449,923
86$73,582,761$21,954,853$15,159,108$50,533,761
87$81,036,732$22,979,171$15,615,468$55,005,331
88$89,249,388$24,052,059$16,085,496$59,902,872
89$98,298,062$25,175,847$16,569,596$65,268,459
90$108,267,976$26,352,975$17,068,189$71,148,395
91$119,253,041$27,586,002$17,581,706$77,593,643
92$131,356,748$28,877,613$18,110,589$84,660,287
93$144,693,140$30,230,620$18,655,298$92,410,065
94$159,387,891$31,647,971$19,216,301$100,910,931
95$175,579,492$33,132,757$19,794,083$110,237,690
96$193,420,558$34,688,221$20,389,143$120,472,693
97$213,079,270$36,317,758$21,001,994$131,706,603
98$234,740,960$38,024,933$21,633,165$144,039,237
99$258,609,861$39,813,478$22,283,199$157,580,497
100$284,911,038$41,687,310$22,952,658$172,451,390