Can I retire at age 63 with 8,400,000?

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 $8,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$693,664$687,485$681,457$675,573$669,828$652,576
2 years$343,398$337,003$330,804$324,795$318,966$301,699
3 years$226,658$220,235$214,052$208,099$202,365$185,625
4 years$168,299$161,896$155,775$149,924$144,328$128,243
5 years$133,293$126,928$120,888$115,156$109,716$94,329
6 years$109,964$103,647$97,695$92,091$86,815$72,142
7 years$93,306$87,042$81,185$75,713$70,604$56,647
8 years$80,819$74,611$68,852$63,514$58,572$45,324
9 years$71,111$64,963$59,302$54,100$49,326$36,776
10 years$63,350$57,261$51,701$46,634$42,029$30,160
11 years$57,004$50,976$45,517$40,586$36,146$24,942
12 years$51,719$45,754$40,395$35,599$31,323$20,764
13 years$47,251$41,348$36,090$31,429$27,315$17,378
14 years$43,425$37,584$32,427$27,899$23,944$14,608
15 years$40,111$34,334$29,277$24,881$21,082$12,323
16 years$37,215$31,501$26,544$22,278$18,632$10,427
17 years$34,662$29,011$24,154$20,017$16,521$8,844
18 years$32,396$26,807$22,050$18,039$14,689$7,517
19 years$30,370$24,845$20,185$16,300$13,093$6,400
20 years$28,549$23,087$18,525$14,763$11,695$5,457
21 years$26,904$21,505$17,040$13,398$10,466$4,659
22 years$25,410$20,074$15,705$12,182$9,381$3,981
23 years$24,048$18,775$14,500$11,094$8,421$3,405
24 years$22,802$17,591$13,410$10,119$7,569$2,915
25 years$21,656$16,508$12,421$9,241$6,811$2,497
26 years$20,601$15,515$11,520$8,449$6,135$2,140
27 years$19,626$14,601$10,697$7,734$5,531$1,835
28 years$18,722$13,759$9,944$7,086$4,991$1,574
29 years$17,882$12,980$9,254$6,498$4,507$1,350
30 years$17,099$12,258$8,620$5,964$4,072$1,159
31 years$16,368$11,588$8,036$5,477$3,682$995
32 years$15,684$10,964$7,498$5,034$3,330$855
33 years$15,043$10,383$7,001$4,629$3,014$734
34 years$14,441$9,841$6,541$4,259$2,729$630
35 years$13,875$9,334$6,115$3,921$2,471$542
36 years$13,341$8,860$5,721$3,611$2,239$465
37 years$12,837$8,415$5,354$3,327$2,030$400
38 years$12,361$7,997$5,014$3,066$1,840$344
39 years$11,911$7,604$4,698$2,827$1,669$295
40 years$11,484$7,235$4,403$2,608$1,513$254
41 years$11,079$6,887$4,129$2,406$1,373$218
42 years$10,694$6,559$3,873$2,221$1,246$188
43 years$10,329$6,249$3,634$2,050$1,131$161
44 years$9,980$5,957$3,411$1,893$1,026$139
45 years$9,649$5,680$3,203$1,748$932$119
46 years$9,332$5,419$3,009$1,615$846$102
47 years$9,030$5,171$2,826$1,492$768$88
48 years$8,741$4,937$2,656$1,378$698$76
49 years$8,465$4,714$2,497$1,274$634$65
50 years$8,201$4,503$2,347$1,177$575$56

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $8,400,000, adding $4,151 every year, while hoping to spend $56,102 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: 63/25/12 Blend
62$8,400,000$8,400,000$8,400,000$8,400,000
63$9,261,082$8,815,882$8,685,682$9,818,417
64$10,146,020$9,188,168$8,916,960$10,564,261
65$11,119,342$9,576,816$9,154,106$11,371,485
66$12,190,003$9,982,568$9,397,256$12,251,522
67$13,367,870$10,406,201$9,646,552$13,211,445
68$14,663,817$10,848,529$9,902,135$14,259,033
69$16,089,821$11,310,402$10,164,152$15,402,844
70$17,659,083$11,792,711$10,432,750$16,652,293
71$19,386,144$12,296,388$10,708,082$18,017,741
72$21,287,029$12,822,410$10,990,301$19,510,587
73$23,379,394$13,371,796$11,279,565$21,143,378
74$25,682,695$13,945,617$11,576,033$22,929,921
75$28,218,369$14,544,991$11,879,869$24,885,412
76$31,010,037$15,171,090$12,191,239$27,026,578
77$34,083,726$15,825,139$12,510,311$29,371,834
78$37,468,118$16,508,423$12,837,259$31,941,447
79$41,194,816$17,222,285$13,172,256$34,757,735
80$45,298,642$17,968,132$13,515,482$37,845,264
81$49,817,970$18,747,438$13,867,118$41,231,084
82$54,795,085$19,561,743$14,227,347$44,944,979
83$60,276,578$20,412,664$14,596,358$49,019,744
84$66,313,795$21,301,890$14,974,342$53,491,492
85$72,963,311$22,231,191$15,361,491$58,399,990
86$80,287,471$23,202,423$15,758,004$63,789,033
87$88,354,976$24,217,524$16,164,080$69,706,850
88$97,241,529$25,278,528$16,579,922$76,206,559
89$107,030,552$26,387,563$17,005,737$83,346,659
90$117,813,973$27,546,858$17,441,733$91,191,583
91$129,693,091$28,758,747$17,888,124$99,812,298
92$142,779,536$30,025,675$18,345,126$109,286,972
93$157,196,317$31,350,201$18,812,955$119,701,704
94$173,078,987$32,735,007$19,291,835$131,151,335
95$190,576,922$34,182,901$19,781,990$143,740,334
96$209,854,729$35,696,823$20,283,648$157,583,782
97$231,093,799$37,279,856$20,797,038$172,808,448
98$254,494,021$38,935,224$21,322,394$189,553,983
99$280,275,669$40,666,308$21,859,952$207,974,230
100$308,681,478$42,476,647$22,409,951$228,238,667